> Florida condo crash happening in real-time.

Well, WHOOP-DE-DOO!!!!!   Deferred maintenance will do that, DUNCE!!!!

Here is the listing referred to: https://www.zillow.com/homedetails/1-Be … 5547_zpid/

Lots of lobby and hallway pictures, with the grimy empty unit pics in between.

Buildings decay rapidly in Florida. Duh.

Canadian snowbirds are getting out of Florida real estate.
America is no longer desirable nor safe.

wrote:

Canadian snowbirds are getting out of Florida real estate.
America is no longer desirable nor safe.

https://www.deeded.ca/blog/toronto-cond … e-get-here

wrote:

Canadian snowbirds are getting out of Florida real estate.
America is no longer desirable nor safe.

Housebound life loser sez what?

wrote:

Seller cut price to $256k.

Back in 2022, it was valued at over $1 million.

75% haircut in 3 years. And 50% over the last 10 years.

This condo building was built in the 1970s, and apparently has huge deferred maintenance and repairs. So existing condo owners / new buyers are getting stuck with the bill.

($326k special assessment on this unit, also needs renovation. So the buyer's all-in cost is probably closer to $700k).

In this ZIP code, condo values have dropped about 10% in aggregate the last 3 years. But clearly some units, in older buildings with huge assessments, are getting hit much worse than market average.

wrote:

Here's one for you: https://www.pcpao.gov/property-details? … 4910000911

Pinellas County property appraiser.

The unit is a 2025 foreclosure, owned by HUD. The previous owner had it since 1999, and still found a way to botch their mortgage so badly they lost it. Judging by the interior grime, that's not surprising.

Maybe the previous owner listed it at ridiculous prices years ago, that doesn't mean all the comps ever went for that much.

Ridiculous.

Unit 912, right next to it, sold for $75k in October. That probably reflects what the unit is presently worth, tops, given the assessment issues.

They aren't making any more land!

wrote:

More expert opinion from a housebound life loser!

Stuck in a Tyvek lined trackside shack, that he doesn't own.

Diarrhetrius Brown wrote:

Only a complete idiot would purchase a high rise condo in Florida.

High rise can be defined as anything over two floors.

Insurance is getting crazy as you get close to the coast.

Family is located in north Florida, south Georgia and south Michigan.  I would NOT live in Michigan and it is not Detoilet.

Got to stay near family.

Otis is in South Georgia.

Florida condos are what we call public housing