03-15-2024, 01:30 PM
Perhaps this is being a bit overly dramatic, but:
Florida House Prices Fall as Homeowners Desperately Try to Sell
I haven’t seen that the Florida insurance crisis has become a real estate crisis yet, but these things can reach a tipping point pretty quickly.
On the other hand, up here in Wisconsin, there was a sale of an entry-level distressed property by the court whose long-time owner with dementia let the two dogs just pee in the house. Ask price of $195K for ~900 sf, newish windows, recent furnace + water heater, but the ugliest mess I’d ever seen; water dripping from the only toilet through the floor to the basement. Wouldn’t allow a house inspector. Cash offers only.
It gathered 17 offers over 4 days and sold for over $260K (haven’t heard the final price yet).
Weird days in real estate.
Florida House Prices Fall as Homeowners Desperately Try to Sell
The number of "motivated sellers" in Florida has grown in the past two weeks, as more homeowners are trying to offload their properties quickly amidst a worsening of the state's insurance crisis.
…According to data shared on ResiClub, Florida's active home-for-sale inventory increased by 45.8 percent year-over-year in February, while Texas's increased by 22.8 percent. At a nationwide level, inventory rose by 15.0 percent in the same period.
I haven’t seen that the Florida insurance crisis has become a real estate crisis yet, but these things can reach a tipping point pretty quickly.
On the other hand, up here in Wisconsin, there was a sale of an entry-level distressed property by the court whose long-time owner with dementia let the two dogs just pee in the house. Ask price of $195K for ~900 sf, newish windows, recent furnace + water heater, but the ugliest mess I’d ever seen; water dripping from the only toilet through the floor to the basement. Wouldn’t allow a house inspector. Cash offers only.
It gathered 17 offers over 4 days and sold for over $260K (haven’t heard the final price yet).
Weird days in real estate.