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You're one of the few honest real estate agents out there. I'm tired of hearing 10 agents in a row tell me it's the best time to buy. Buyers are not being fooled by the Florida dumpster fire - insurance, property taxes, and maintenance are getting out hand!

- Sellers….sell the houses to blackrock and vanguard, we are broke, we can’t afford the luxury prices you are asking - average Joe Buyer

Most people could not afford to buy the home they are living in with today’s prices.

Just a side note ….having an expensive car most likely means you have over extended yourself for whatever reason…..and don’t actually have any money in the bank…

@nogames8982

Ай бұрын

In my town some of the most expensive cars are parked in front of the creepiest houses. I’d rather have a decent house and a junker car myself. But people get their priorities off. Or they just have different priorities I guess.

@ErickaWilliamsCC

Ай бұрын

Or have a business

Orange County Calif, same things. some people trying to sell their house for $1.4M while comp selling for $1.0M or even lower. those are people who bought a house around $1.2M thinking it will gonna go up. 2008 all over again.

Depending on the area of Florida this is a market that can vary greatly. Beware of generalities, this is a big state.

This is not going to take 5-7 years this time. We will wake up one morning and EVERYTHING will have changed. You just watch. Mark My Words...

In Las Vegas 2 months ago my RE said we could list way over market, and I laughed thinking I would actually take a loss.... first day of open house 2 offers at asking price... I still can't believe that happened. No way was that house worth that...

@nogames8982

Ай бұрын

Oh well. If they’re that stupid, take the money and run.

I am a home owner in Florida and I am not desperate.

@raulzavala4758

Ай бұрын

You’re that 1 in a million

Handymen have become very$$$. I guess when they know the extreme talent required to flip burgers .handymen have to figure they are$400.00 per day. Can’t blame them on bit.

Great video! Glad to see you getting back to your original style

Gloom and Doom gets views! 🙄 Heard about the crashes for how long now?

@RichardWiazardry

2 ай бұрын

It’s called real estate cycles they are 7 years at the low end or as long as 12 years between real estate crashes.

@nogames8982

Ай бұрын

Very true. It’s been well over a year now all I’ve heard is how the market is going to crash. It’s going to happen etc. etc. Well, it might. But it hasn’t happened yet.

Sorry, live in northeast FL, my house is supposedly worth more than last month. But we have a bad lack of homes here.

Great video, Chris. Thank you.

It’s nice to listen to someone who speaks from experience. I totally agree. 👍

Glad to see the Teslas in the driveway and not in their garage. I’ve seen one parked in garage, caught on fire and burn down the house, Yikes!

@ChrisIgoe1

Ай бұрын

A friends Porsche EV recently caught fire in their garage which cerated massive fire and smoke damage throughout the house which forced them out for months so it could be fixed and remediated. Definitely not fun. Thankfully they have the resources to afford to pivot comfortably, most people don't these days.

Never judge a person's wealth from the cars in the driveway. That's the stupid index, cars are not an asset they are a big liability. If you paid cash then you are ok, but few cars are not financed.

IN Florida, yes. There will be a correction. The cost to insure homes and the rise in cost over the past five years will push people out and reduce demand.

@ChrisIgoe1

Ай бұрын

Thanks for watching. I'm committed to sharing the truth so that you are empowered to make the best decisions for yourself, family, and financial bottom line.

Stop lies . Prices on houses don’t go down at all . Go on real estate listing websites.

I thought it would just be the worn down condo buildings, but how couldn't insurance fall apart. Even we as citizens are worn of sending billions down there yearly. Maybe we need to re- think Florida. Either we do, or the economy will decide for us.

Last year he said best time to buy and sell cause prices was going up now he says best time to buy and sell cause prices are coming down lol 😂

Sorry friend. You have it backwards? It's the equity market that's the last to go down because when asset values fall and people need to liquidate to cover debts, they desperately begin selling everything that has value which is why stocks and gold are the last to go down. Inside that home you just passed they're probably trying to decide whether to let the blue Tesla or the Tesla truck go back to the dealer.

You are right an you realty people did it.

@ChrisIgoe1

Ай бұрын

It was all me

Chris, can you shed some light on where these sellers are relocating too?It'll be interesting to know if they are leaving the state

There is ZERO reason for new homes to be soooo overpriced in Florida. Zero!! I am lucky. We have no mortgage. I'd like to buy in Florida but not now.

I thought about retiring to Florida one time but after talking to owners there the real estate taxes and home owners insurance rates fluctuated like bitcoin, 20k one day 70K the next! Glad I took a wait and see approach. Great state to visit but can't afford to live there!

The spells are definitely working!! Praise it all!😄

In 1987 I bought a 3/3 zero lot line home at Barclay Club at PGA National for $132,000 with the pool package option and wood ceiling upgrade. I sold it in '95 for for $165K and my lawyer said I was a lucky seller because I had money coming back to me. By 2004 the home sold for 310K. Now that same home sells for 750K. Zero interest rates for 13 years elevated all home prices. Distorted the market. Plus the HOA fee's, taxes, insurance, electricity cost and food cost have skyrocketed, making Florida a premium price for living. South Carolina is about 40% of the cost of Florida. Retirees are looking at West Virginia too. Plus a lot of PPP money that was supposed to go into businesses instead filtered into South Florida real estate as Airbnb properties. Naples area alone has over 17,000 Airbnb properties as I write. Plus you have hurricaine season coming up and a big election. How big a correction is coming to Florida I don't know. One other point for Chris, I believe you were a former stock broker, interest rates on savings in 2020, 2021 even 2022 were a paltry 1% or 2%. So people speculated on Florida real estate to earn through rents maybe a 6% return plus some capital appreciation. Today an investor can park his money in a 3 month T-Bill and earn 5.40% risk free. So the time premium of money has changed in the last two years.

@melaniag.7877

2 ай бұрын

Excellent comments. Spot on.

6 Months ago, a new construction house sold right in front of mine, it sold for like $380K yesterday the house in the rear of mine, was listed for $280K Yes its not a new construction, but it has more Sq.F. than the one that sold for $100K more just 6 months ago, as soon as the new listing sells, there goes the value of the house in front.

@coldeed

23 күн бұрын

Houses down here never had that 400k value. Things listed at that over the last 4 years keep selling around 290-350k at max. People are genuinely struggling to sell under 375k. Most are settling for around 330k

As analysts stated over a year ago, Get ready....

Haven’t seen a soft market in the Orlando area yet.

Let them eat cake

@torsten6777

2 ай бұрын

I love cake!

As the crustal slip continues, Florida will hit the ocean bulge at the equator and will all be under water.

Truly believe market is run by hedge fund investors and Airbnb once there bubble pops or new laws come in place housing will be down by a lot.

1926 Miami real estate crash. Low was $1.00 an acre.

The housing market isn't a tail, it's half of the body

Did you mean to say 5-7 years or months?

Everyone will be moving back to the Bronx

Just wondering. Can the police ticket you as a distracted driver having video proof of you using a cell phone while driving? Great Videos! We are possible Florida retirees, but we are waiting until after this hurricane and presidential election season to see what happens as we suspect home prices to drop dramatically to yield 2025 bargains!

What percentage of Florida homeowners had a significant increase in tax/insurance?

@maryrenaud6732

2 ай бұрын

Insurance: 100%, Property tax:

Buyers have no banks so better have six figures to play

It is Ron DeSantis wake up F.L.

😂😂😂 So money loose value every day at the high rate in the same time the houses become cheaper? 😂😂😂 That's a statement.

Cubans spend 70% on food . If we keep moving toward socialism look to see same.

@michaelsd284

2 ай бұрын

How are we moving to Socialism? I'll agree we have many social programs that honestly help our society as a whole, but our problem is we have overachieved capitalism. We pander to the wealthy. Look at all the billionaires who brag about not paying taxes? And explain to me why we have a top end for taxes so those who earn +$168k stop contributing to social security or medicare anything above $168k? Why do we allow CEO to bypass income tax by taking a $1 salary but make millions in stock which gets taxed at 15%? Why do we allow corporation to own single family houses? Oh, wait, you were talking about socialism right ? 🤣

2 ай бұрын

That's a lot of black beans and rice

2 ай бұрын

Ronald Reagan did not pay taxes..

I miss Florida ❤

Please don’t drive and look at your phone…. You should know better!

A whole Lotta chit chat absolute nothing. Camon igoe

60% to 90% is a stretch! But, 50% is definitely on the horizon!!!

Do you wanna live in Paradise?" YOU PAY! INSURANCE! 🫤

RON DESANTIS RUINED FLORIDA! QUICK!

@carmenmancheno5817

2 ай бұрын

Exactly !

@dmac42

2 ай бұрын

why do you think so many people moved here? Hint the answer is already in your statement. And if you’re gonna say he should control insurance, he can’t control the weather. California is as shitty blue as you can get and the insurance companies are leaving there as well.

Never judge a person's wealth from the cars in the driveway. That's the stupid index, cars are not an asset they are a big liability. If you paid cash then you are ok, but few cars are not financed.