Here come the Foreclosures. Get ready for $200,000 discounts in Florida.

More homeowners in America are now defaulting on their mortgage compared to one year ago, resulting in a rise in foreclosures, especially in Florida after the recent hurricane.

In this video, I found an example of a short sale in St. Petersburg, Florida, where the owner lost $200,000 from the original list price. And the values are dropping fast. Due to a big surge in the number of homes for sale.
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[ReventureConsulting]

Reasonable to expect an increase in Foreclosures over the next 1-2 years. Even getting to half of the level in the 2008 bust will lead to large increases in inventory and price reductions.

We're already starting to see the signs of this in Florida, where inventory has spiked to the highest level in a decade. Access the data for your area on Reventure App: www.reventure.app

[Casey-summer]

I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?

[V.stones]

But honestly, those discounts might sound tempting, but buying in such an unstable market can be risky. I’ve seen people lose money thinking they’re getting a great deal, and then the market crashes further.

[billdillon]

I like the ocean as much as the next guy....just not in my living room. I'll pass on any Fla. deals.

[turboSS]

200k discounts on a home that was 260k and now 750k, nope, now way jose, it'll have to drop to 300k or 470k+.

[richardrigg]

That house is worth $250k at the most... Not $468k

[thecaptain]

That house is not worth $400k at current salary levels. Stop taking out big loans to chase real estate!

[Markhamthcentury]

I'd never reinvest in Florida again, Whoever bought that place for 400K is a fool.

[lazarus]

These are not "discounts". People are selling water-damaged houses because their insurance dropped them and they can't afford to fix these houses so they are cutting their losses and moving out.

[PaulKatrina.]

fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.

[BDUBB]

Been a subscriber for years, amazing what you’ve accomplished here on YouTube and with the creation of your product. Thank you for keeping it going for us, and I hope it brings you all the success you deserve for the work you’ve put in.

[bymilliebphotography]

Those who think that "everyone has 2-4% mortgage rates so there won't be foreclosures or a correction in the market are SO mistaken. There were so many buyers who purchased with rates from 6-7%+ from 2021-just recently. Now these buyers are starting to see "negative equity" as the market declines and their mortgage payments are high. These homes are hard to sell.

[InvincibleExtremes]

the recent hurricanes put the final nail on the coffin for this house flipping game of "hot potatoe"

[chrisoliver]

With 3 floods, hitting the Sarasota area, north and south, people are going to leave, plus Hurricane fatigue

[rickss]

Those are $300K homes at best...whoever the buyers are they are getting no deal.

[mdp]

Lived in FL for 14 years in 70's-80's, would never ever move back.

[ImportAgentBenardo]

From $7K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.

[alyross]

That hurricane caused damage across the state. If anyone in central FL thinks their insurance won’t be raised, they are dreaming.

[markpinter]

Still not enough of a mark-down. Real estate in just the past four years is up 40 percent so figure at least a 60 percent reduction not including any damage.

[sarahross]

I love watching this from the safety of my apartment with my giant pile of money.