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FL real estate values


zeitgeist57

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I lived in Naples from 2005-2008 and bought a beachside condo just before moving back to Ohio in April, 2008 for a song. One of the smartest decisions I ever made was NOT buying a house during the real estate boom during those years. Need one of literally a hundred examples of what I'm talking about in Naples right now?

 

http://johnrwood.com/PropertyDetails.aspx?HomeID=208027573

 

Short sale on a nice 2/2 house, 1-car attached garage, walking distance to nice shops, beaches, Ritz Carlton for $115k? Previous owners are from Highland Heights outside of Cleveland...nice area. Bought it for $411k in December, 2005. Current tax value is $151,857.

 

Ladies, in less than 4 years, the property lost nearly $300k in market value. :eek: If they sell the house for asking price, they will get back only $0.27 for every $1.00 they spent. I don't know how else you want me to cut it. :)

 

A good friend of mine is a realtor down there, and has been killing it this year focusing only on foreclosure/shortsells from $150k to $400k. Only a couple of years ago was it tough to buy anything under $350k, $450k and up! :eek:

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