I realize that exactly no one will feel sorry for me, reading this. And I’m not looking for that. Only to educate you. You’ve been told your whole life that real estate is the best investment. And I have agreed with that for most of my life. I bought a house on the beach in the Panhandle 16 months ago, and sold it today, for 45% more than I paid! Yay, I’m a winner, right? WRONG.
Thank you Robyn for your years of experience and honest advice. With todays real estate prices
we need to understand the role that Blackrock has had in buying up tons of homes, resulting in
a 'shortage' of available homes as many were escaping their draconian states. As humans are feeling
their NY/VA states, and their properties cost more than the Fl. home they are buying, they feel they got a bargain (even though they paid likely 20% more than it was worth). I am in Saint Augustine, Fl.
and the cost of homes here for the past 6 months was crazy high. cheers.
what do you recommend as the best way to pay off large credit card debts? Besides a mortgage and 3 vehicle notes (2-3 more years on those) this is the only debt we have but it is getting out of control. I feel like we can never get ahead of it due to constantly having to use it. We have a 401k and 2 Roth IRAs (haven't contributed to these in a long time due to income restraints). I just feel like we keep spinning in a circle and are never able to get ahead of ourselves.
I did the math with your home sale price and you paid the going commission rate for here in FLA. If a home is priced under 1 million, you pay 6% commission and over 1 million you pay 5%. Therefore, if you realtor told you they were giving you 1% back as a gesture of kindness, they fed you a bunch of BS.
What I don't understand is the demand in FLA is (was?) SO high, why would anyone want to give their home to a realtor? If you can't be there, hire someone to show it. I sold my mother's home in FLA in 2020, just before things got crazy and saved $130,000 in realtor commissions. The BUYER paid his realtor $50,000 to complete the deal!
I have a bunch of questions. 1. Why do you trust crypto? I have two wallets I tried and I cannot even get my money out of them. it is too convoluted to do so. What prevents the Chinese or other opportunists or others from just buying up a bunch, then flash crashing it, then buying up a bunch more? It reminds me of day-trading... If you aren't one of the people with a black box or who gets the memo, or who goes to their elite country clubs, how do you make money using it? 2. I hear your worries about real estate...I have some investments in more of a low ball market and so far they have been fine. If I sell them, I'm not sure what to put my money in instead. (after the govt takes a lot of my profit away in taxes that I feel is unconstitutional but that's a different topic.) I have not sold a couple of my properties yet because I feel like the cash will just go poof, even if I buy gold.
I believe every word you've said Robyn. There is a 9 acre plot of land near my home that's selling for around $140K. Looked good on the surface until I read that there are two mobile homes parked on the property with people living in them. The listing didn't mention that a mobile home park was being sold. No way would I buy that property since those mobile homes will probably sit there till the end of time.
I told an unsolicited buyer 3 weeks ago that I'd sell my home for $1 million minimum. I've now upped the price to $3 million. Don't mean to sound arrogant. But I see far less development potential for the empty lot that borders mine without the inclusion of my lot. The previous owners of my home bought up enough of the woods where no one can build back even as far as my front porch from the road for about 5 acres.
If I had had the money. No doubt I would have purchased that two story 9,000 square foot home sitting on 191 acres. The sales price was about 2 million. Seeing that I like farms and ranch sized properties. Someone would have to pay me enough money to buy a larger farm if they expect me to give up my mini farm
Thank you Robyn for your years of experience and honest advice. With todays real estate prices
we need to understand the role that Blackrock has had in buying up tons of homes, resulting in
a 'shortage' of available homes as many were escaping their draconian states. As humans are feeling
their NY/VA states, and their properties cost more than the Fl. home they are buying, they feel they got a bargain (even though they paid likely 20% more than it was worth). I am in Saint Augustine, Fl.
and the cost of homes here for the past 6 months was crazy high. cheers.
what do you recommend as the best way to pay off large credit card debts? Besides a mortgage and 3 vehicle notes (2-3 more years on those) this is the only debt we have but it is getting out of control. I feel like we can never get ahead of it due to constantly having to use it. We have a 401k and 2 Roth IRAs (haven't contributed to these in a long time due to income restraints). I just feel like we keep spinning in a circle and are never able to get ahead of ourselves.
I did the math with your home sale price and you paid the going commission rate for here in FLA. If a home is priced under 1 million, you pay 6% commission and over 1 million you pay 5%. Therefore, if you realtor told you they were giving you 1% back as a gesture of kindness, they fed you a bunch of BS.
What I don't understand is the demand in FLA is (was?) SO high, why would anyone want to give their home to a realtor? If you can't be there, hire someone to show it. I sold my mother's home in FLA in 2020, just before things got crazy and saved $130,000 in realtor commissions. The BUYER paid his realtor $50,000 to complete the deal!
I have a bunch of questions. 1. Why do you trust crypto? I have two wallets I tried and I cannot even get my money out of them. it is too convoluted to do so. What prevents the Chinese or other opportunists or others from just buying up a bunch, then flash crashing it, then buying up a bunch more? It reminds me of day-trading... If you aren't one of the people with a black box or who gets the memo, or who goes to their elite country clubs, how do you make money using it? 2. I hear your worries about real estate...I have some investments in more of a low ball market and so far they have been fine. If I sell them, I'm not sure what to put my money in instead. (after the govt takes a lot of my profit away in taxes that I feel is unconstitutional but that's a different topic.) I have not sold a couple of my properties yet because I feel like the cash will just go poof, even if I buy gold.
I believe every word you've said Robyn. There is a 9 acre plot of land near my home that's selling for around $140K. Looked good on the surface until I read that there are two mobile homes parked on the property with people living in them. The listing didn't mention that a mobile home park was being sold. No way would I buy that property since those mobile homes will probably sit there till the end of time.
I told an unsolicited buyer 3 weeks ago that I'd sell my home for $1 million minimum. I've now upped the price to $3 million. Don't mean to sound arrogant. But I see far less development potential for the empty lot that borders mine without the inclusion of my lot. The previous owners of my home bought up enough of the woods where no one can build back even as far as my front porch from the road for about 5 acres.
If I had had the money. No doubt I would have purchased that two story 9,000 square foot home sitting on 191 acres. The sales price was about 2 million. Seeing that I like farms and ranch sized properties. Someone would have to pay me enough money to buy a larger farm if they expect me to give up my mini farm