Quote:
Originally posted by SoCal911SC
Remember this Jim?!?
Jim "Mr. Port St. Lucie" Cesiro 10 months ago:
"I agree the RE market is probably on its way down in a lot of places. For whatever reason this area ignores the rules and charges on.
Where else can you buy a 3/2/2 for 275K in a good school district and nice neighborhoods?
Google Port St. Lucie Florida and see how it is breaking records in the USA for new home start ups and % increase in value over the last 3 years. People are flocking here for jobs and cheap homes.
PSL has everything from starter homes to million dollar homes.
I am really not too worried about what is happening to the rest of the country as far as a slow down. That usually drives more people here looking for a freash start."
Pt. St. Lucie is Different!!
I guess there's really no dodging the rules, even in all of the "unique" areas. Credit to you for not being one of the suckers left holding the bag.
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Yup I remember that well, I had a backlog of work 2 months back.
I am no fool though. I did not spen spend spend like most. I also back out of a prospective flip house 6 months ago. Instead buying a vacation home in NC.
I knew it would slow down just didn't expect a complete and total stop.
What did this?
Lots and Lots of investors from outside the area, who are now sitting on flip homes and screwed. Good for them. Builders that didn't care who was buying the house or what for just taking orders and building.
What I did not expect and never saw coming was property taxes doubling and tripling and home owners insurance quadrupaling.
Yeah, I have egg on my face our recession proof city for the last 10 years is spiraling downward. Good for me I have no debt and lots of things that can be sold if necessary.