lawyerliz_IHB
New member
Here in Brevard, I have been watching certain condos, which
I was sure were overbuilt. Finally the prices on some are starting
to drop, and by quite a lot. These are all water view, but actually
water view here is pretty common. In addition to the Ocean, we have the
Indian River and the Banana River, so there 5 "coasts" to choose
from. The Indian and Banana Rivers are quite wide, and from some areas
you can see the VAB and the launches, which is pretty cool.
In Miami, I am still seeing a slight, slight unfreezing. My closing
went away, 'cause the sellers wanted more money and didn't want
an inspection at all. But they just inherited literally 2-3 million dollars
from a hoarding relative, so are hardly in need of money. My client
is now looking at a 10 unit apt building. Dont think that will be all
cash.
I wonder what will happen when all those Miami condo towers come
on line. They are NOT going to sell; and no one will finance them
even if they were selling for reasonable prices. This has gotta
have an effect on all of the rentals in the county. I suppose it
will take a while for the prices and/or rentals to drop to the lowest
circle of hell (for the landlords.)
I was sure were overbuilt. Finally the prices on some are starting
to drop, and by quite a lot. These are all water view, but actually
water view here is pretty common. In addition to the Ocean, we have the
Indian River and the Banana River, so there 5 "coasts" to choose
from. The Indian and Banana Rivers are quite wide, and from some areas
you can see the VAB and the launches, which is pretty cool.
In Miami, I am still seeing a slight, slight unfreezing. My closing
went away, 'cause the sellers wanted more money and didn't want
an inspection at all. But they just inherited literally 2-3 million dollars
from a hoarding relative, so are hardly in need of money. My client
is now looking at a 10 unit apt building. Dont think that will be all
cash.
I wonder what will happen when all those Miami condo towers come
on line. They are NOT going to sell; and no one will finance them
even if they were selling for reasonable prices. This has gotta
have an effect on all of the rentals in the county. I suppose it
will take a while for the prices and/or rentals to drop to the lowest
circle of hell (for the landlords.)