Hi it's John Wieland - Mr Downtown Delray. I'm a REALTOR® with Exp Realty in Delray Beach, Florida. I live downtown near Atlantic Avenue: a mecca for some of Florida's finest restaurants and entertainment. Delray is a top Florida destination and world-class spot for outdoor enthusiasts, entrepreneurs and foodies.
If you're thinking about moving to Delray or our surrounding areas, this channel is for you. Over the last three years I've canvassed Delray for great stories to share. I highlight our people, businesses, new developments and what life is like living here.
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My family lived in Costa Rica over 12 years. I was a partner/President of the Coldwell Banker Master Franchise. We opened 12 offices. I helped folks find their piece of paradise... and that's what I now do for folks in Delray Beach, Fl
To reach me, call 561.777.4089, email agentwieland@gmail.com or find me online below...
We know like most markets, real estate is cyclical so prices won't stay high forever. And there are cracks popping up, but the greater trend still looks ok for now.
@emilo81 - So are you a homeowner/seller? Demand in SoFlo is down from a year ago... inventory is up 83% in Delray Beach YOY (graphs are in the video for other cities) and yes prices are still high, but price drops on active listings are now down 8%. Staying current is key. 👊✌
All it takes is looking at home prices in the USA vs median income. There are charts of it going back to the 1970s. The gap is growing, it has shrunk a few times in a substantial way, but those times are during recession. Unless you are saving to buy during a recession, housing will only ever get more expensive. It’s a fact.
Thanks for info packed 12 minutes! It sounds like holding off buying a condo is the smart choice at the moment with all that’s going on in regards to them. Thoughts please.
Buying is a personal decision. Yes, there are a lot of yellow warning signs out there, but "this too shall pass" is what some in the market say. HOA's, home insurance prices... they are being stretched like a rubber band - it's it'll find its way back to the mean, soon.
Great analysis as always! I’m curious about what would be the days on market if you broke it down more. Homes up to a million. Homes from 1 million to let’s say 5 million and so on.
Per Neighborhood Scout: Delray Beach: " With a crime rate of 36 per one thousand residents, Delray Beach has one of the highest crime rates in America compared to all communities of all sizes - from the smallest towns to the very largest cities. One's chance of becoming a victim of either violent or property crime here is one in 28".
I did a video about safety here, have a look: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-zCr3EAR0Fck.html. I'm not sure if the data on their site is old, but living here is much better than what they write. It's odd.
Sellers new strategy: list it overpriced by $500k, then do a drastic price cut and the buyer thinks he is getting a heck of a deal, lol. Just like the stores have been doing for decades.
Unfortunately the Dutch Auction strategy like that isn't working. And it doesn't serve the seller or buyer. It's a waste of time. Price it RIGHT and it'll sell fast in this market. Otherwise, enjoy the "Months On Market" report! Ha
Simply explained love it. Straight to the point so one can gain interest without a cluttered mind the way it should be thank you. Can you help me on buying or building a quadplex? Wanted some more details not sure which way to go, I believe building should be less hassles and if you get involved with some labour yourself, you start with less surprises? Not sure.
I'm building a 8' x 37' saltwater lap pool that is 4' deep with concrete blocks. I have all the materials. With me doing the labor the total cost of materials is $3,380. 4 jets, 4 LED lights, skimmer, 2 floor drains, 3/4 hp pump, fabric filter, 4,000' of rebar, and a stainless ladder. 2' x 2' tile inside with a 6" strip of glass tiles around the top. Next week I'll start tiling.
Hi John... So true...!!! a friend of mine put up his property for sale while still living in it, but he had to reduce the price three times in the following months...!!! It seems that he has moved out, and the property is still in the market.
Luis! Yes, there is a lot of mis-priced real estate out there. To get top dollar, owners must do the upgrades. Otherwise start out at a price that is representative of the asset. The strategy to lower and lower doesn't work today. It must be priced right from the beginning. These are different times for sure! Great to hear from you, amigo!
After checking about Delray Beach Florida it doesn't seem like a safe place to live with one of the highest crime rates, according to the FBI for the size of the city let me know if I’m wrong
@harveyeisenberg1 - have a look at the video I did about this ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-zCr3EAR0Fck.html - Perhaps the data you're seeing is old? Things have only improved in the 9 years I've been here for my wife, daughter and I. We LOVE Delray and walk the city all the time. Come see it before you make any decisions. You'll love it too!
No, I lived here since 2005 -- in three areas (Downtown, one gated community in West Delray and one comminity in Delray proper that is now open since we don't need guards). It is very safe. It might be dodgy in some areas late at night south of downtown but to be honest, you are not going to be walking around there at 2:00 a.m. anyway.
@@eddihaskell Agree with you Eddie, thanks for chiming in. I've lived here 9 crime-free years and have never thought about crime this entire time. I read about it, but that's normal for any city. WeLoveDelray!!!
@@Waltuh22232 All good Walt! Enjoy your condo. Do you own and live in it? Rents, like the real estate market, are coming down already. The market is in a MASSIVE shift right now. Pay close attention...
So right I was looking at a condo a few years ago. I changed my mind and bought an extra house instead. The house has gone up about $ 100000 in 2 years. The condo has stayed about the same and it had the extras for pool , gym and external maintenance. So I'm ahead and happy. The house I'm not renting out. Daughter lives in it rent free.
owning a house for AB$B is risky, all it takes is one bad tenant to set you back with property damage, hidden maintenance costs, etc. owning the land is fake premise, as you dont really own the land as long as you have to pay property taxes. its all an illusion. most housing will have HOA fees, even houses. also, buying a condo to live in it, is not really an investment but a liability, as it generates no revenue.;
@@DanielFreeMan365 Well, I have a few friends who own Mobile home parks - not an individual unit. Buy a park! Incredible investment at the right price... Same with boat marinas. Don't buy a boat - buy the marina!
🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥 DO NOT LISTEN TO THIS GUY when he says "buy now". Any fool knows we were just at the peak and now it's topping over. It will be a long and hard decline for the next 18-24 months. He has to be in the real estate crowd to make money because houses in S FL are anywhere from 30-50% over priced. While these will be dropping hard, the interest rates during that time will probably go somewhere around 4.5%. 3% is gone and will never come back unless you do a deal with a home builder who is overcharging you 20% on the house. Banks are crumbling because nobody is buying into these ridiculous prices and interest rates. The government and banks think they are starving us, but be smarter, as most are. Sit back for a year and you will not regret it. Cheers......
@danherrema4277 because my video is about surging supply. I did another video where I talked about the insurance debacle. I haven't done one on the rental demand - perhaps that's coming up soon. Thanks for the idea! I like to stick to ONE idea per video. ✌👊
Yes, there's more inventory, but the prices are still WAY TOO HIGH (even with some decreases) for most people to make the purchase here in SWFL. This video is pure FOMO.
No FOMO meant, just sharing pertinent local real estate data that folks find useful. Prices are high and this flood of supply should curtail prices from increasing. We will see how it plays out... 👊🙌
Yeah hurry in and get saddled with sky rocketing car and home insurance rates. As an added bonus you get a nice bump on your property tax bill versus the previous owner.
These realtors kill me, spreading FUD to try and keep their jobs. This is the absolute top of the market and the interest rate have doubled but its "time to buy".. inventory historically NEVER skyrockets in the winter, it does that in the spring. So this spring prices will drop like a hot rock. Buy a house now if you want to see your biggest investment be worth nothing lol.
Thankfully we don't have "jobs." 😃 Let's keep an eye on supply as it is a big event happening now in South Florida. No FUD being spread here - just sharing the data... 👍
@aesthetictrades home prices need to drop by about %50 to put them in the correct range. If interest rates didn't double I would have said %30. Buying a home right now means you will more than likely never build any equity which is exactly why you buy a house in the first place
@@KingFergus trust me I've been analyzing alot of historical data and everything is showing me we are going to see alot of people losing jobs and homes which will also be a large opportunity for a select few retail investors and mainly institutions so they can turn people into a renter class. 08 is gonna be a walk in the party compared to the everything bubble. Shorting regional banks is my Micheal burry big short moment lol just waiting for the next opportunity after the first republic collapse made me over 10000% returns
Absolutely 100% correct. Out of control property tax increases, the biggest homeowner's insurance disaster in North America. A problem that is sadly under the control of a totally corrupt legislature, and an insurance commissioner, another DeSantis shitbird flunky, who claims it is the result of "Woke" outside influence. Prices that spiked 45-90% in every county in the state, in the last four years. Inventory skyrocketing across the state. Nationally, December existing home sales volume was the lowest in 41 years. Mortgage rates still climbing as banks tighten up, PRICE THEIR PRODUCTS BASED ON ANTICIPATED RISK, not on fed rates, and eliminate all kinds of credit availability. Condo associations and HOAs are battling for survival in some cases, and many are faced with massive increases in operating expenses, skyrocketing dues, and special assessments, for exponential increases in insurance and the bill that is now due for decades of deferred maintenance, AKA gross negligence. I smelled this rat a little while back and dumped my Florida condo for a sweet ROI. That money is making 5%+ on treasuries, while I rent for a fraction of the cost of buying back in. Severe recessions and property market collapses are a regular event in our economic system. When they happen, and the next one is overdue and obviously underway, they drive two or three regional markets right through the floor every time. Florida ALWAYS makes that short list.
There is greater downside risk than upside potential since housing has never been this un-affordable on historical charts comparing income to housing. The median house cost has far exceeded the average income level and that is a serious statistical problem going forward.
Great points Matt. Waiting for the day when you can buy low is a good strategy. No one knows when that will be and there are families who do need housing now. So, different needs for folks.. 👊🤙
