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Topic Title: First time homebuyer $ ?
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Created On: 03/17/2017 08:35 AM
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 03/17/2017 08:35 AM
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J20

Posts: 570
Joined: 07/31/2003

Any federal/state/local programs going on that anyone can share details on? I'm going to be researching this myself but figured I'd get some input here before I dive in.
 03/17/2017 09:39 AM
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saltydog73

Posts: 695
Joined: 08/05/2003

State money for 1st time home buyers is usually allocated to and doled out by the county on a first come first serve basis... check out your county's housing and economic development page
 03/17/2017 12:00 PM
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WG

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Joined: 03/10/2005

be careful
market may be peaked

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you know better
but I know him
 03/17/2017 01:19 PM
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miker

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I doubt the market is peaked in Brevard
 03/18/2017 04:33 PM
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dingpatch

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The First Rule overrides all other considerations, , , ,; Location, Location, Location.
 03/18/2017 05:30 PM
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3rdworldlover

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If you can scratch up 20%, get a conventional loan. FHA required mortgage insurance is expensive.
 03/18/2017 07:00 PM
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WG

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Originally posted by: miker

I doubt the market is peaked in Brevard


I don't know but it may be getting close.
I just had my house evaluated and the number was almost as high as just before the last crash. Not as bad a bubble nor a much correction coming, but maybe soon.
If increased rates suppress demand, we could see a 10-20% or so pull back.

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 03/18/2017 08:30 PM
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RegularJoe

Posts: 2661
Joined: 11/20/2011

Northrop Grumman in Melbourne currently has 74 openings for new grads, and 234 for experienced professionals. Many of those will be transfers from high-dollar locales like SoCal and Chicago. Some will need houses, if you know what I mean.
 03/19/2017 05:09 AM
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miker

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The job growth in the area for the next several years is what I was thinking of as well. As far as affordability goes, our areas close to the beach are super cheap compared to most of the rest of Florida. I would be more worried about Palm Bay than satellite beach.
 03/19/2017 05:11 AM
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dingpatch

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My real estate buddy from "down south" (West Palm'ish) says that Brevard is still undervalued.
 03/24/2017 05:20 AM
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dingpatch

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 03/24/2017 11:14 AM
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Sniper

Posts: 4324
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Things certainly do feel a lot like they did before the bubble burst last time.

Back then, I remember people saying they weren't worried because there is a finite amount of space on the barrier island and they thought that insulated them from any potential dips in the housing market. They were wrong.

Talking to a friend who is well known realtor in the area, makes me feel like the market is pretty volatile and the current prices of real estate are inflated. People are listing their houses for higher than they ever thought they could and they are selling them, so then everyone else starts bumping up their prices. Many people are moving in from outside of the area, so they don't know any better. People are getting into bidding wars over property. People are buying property sight unseen. Beachside sellers are selling in around a week on average.

I don't know. This isn't what I do for a living but it sure looks like it has all the signs of a market correction of some sort coming in the near future to me. We have some flippers in the market but not near what we had last time around.
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