>>>>>>What is sooooo bad about a collapse?
>>>>>For me, nothing.
>>>>>I've always avoided benefited financially from them because of my super-conservative strategies.
>>>>>I suspect that the next one is a way off, though. My house has still not reached the value it reached at the peak of the madness - although the houses in NY are now above those levels.
>>>>
>>>>Nosy me
>>>>What was estimated peak of madness value and
>>>>What was estimated bottom after Lehman and
>>>>what do you consider dependable value (= outside crunch/panic selling, worth of ground, labour and material)
>>>
>>>I can only speak for NY and NJ.
>>>The swings in CA and FL, as far as I can tell, were more pronounced, while some areas in the Midwest saw much smoother swings.
>>
>>This kind of swing? Look at the 2006 sale price.
>>VALUES - 5AC on Dog Island, FL Land Value 160,000
>>2017
>>Just Value 160,000
>>Assessed Value 160,000
>>Exempt Value 0
>>Taxable Value 160,000
>>
>>LAST 2 SALES
>>Date Price Vacant? Qual
>>05-2006 1,300,000 Y Q
>>12-2002 100 Y U
>>
>>I own the 2013 and 2014 tax certificates on this property and I don't know if I will ever get my money.
>>I had planned on filing for a tax deed which would put my total investment at about $15 K . Then one of two things would happen. Someone else could buy the property and I would get my money plus the 1.5% interest per month or I would get the land. If I got the land I was going to donate it to one of the public trusts and take a $160 K deduction(current value) which would save me about $40K in taxes. With the new tax law I will not be able to do this. I haven't come up with plan "B" , yet.
>>>
>>>In Long Island, NY a 4 bedroom two story colonial in Nassau's best school district sold for almost $1 million at the peak of the madness.
>>>Typically houses sold for higher prices than the listed sale price. Bidding wars were common. Days on market were typically fewer than 30 days.
>>>After crash, it sold at about $500K. Days on market might be 180 or more. Prices were discounted from the offering prices.
>>>
>>>In Nassau county, there is not a single available building plot, so there is no way to estimate the basic value.
>>>It's not uncommon to see people buying two small houses, knocking them down and putting up one large one.
>>>Here in NJ, you could probably build that house for $300- 400K.
>
>Bummer.
>From what I hear the east coast of FL has reached and surpassed the boom prices.
>I'm also hearing about bidding wars on condos in Naples.
>Some parts of southern CA are still in the doldrums, I hear, but places like La Jolla are back in boom country.
I've been around enough to see several of these booms and busts. I remember in the late 70's when you could "buy" condos in Orlando just by signing to pay the insurance and taxes for 3 years. Then you could sign a mortgage or move. Same way in San Antonio, TX in the middle 80's. My roommate from college bought his condo for $24K. The people just across the walkway bought the mirror image of his condo a year earlier for $120K. The bank that loaned the builder the money had failed and the builder had gone bankrupt- absolute auction no reserves- cash only.