How the Recession Has Affected the Real Estate in My Neighborhood


Southern Florida has been impacted by the recession. Everyone likes to think their area is not feeling the crunch as bad as other areas, however no lines have been drawn to exclude any area. Neighborhoods all over Martin County show signs of the recession in businesses closing, no job applications being accepted in Department Stores, and For Sale Signs posted all over homes, cars,and other personal properties.

Recession has hit and has hit all of us very hard. In 2003 Thur 2006 homes were being purchased at extremely high values. The thinking was that if they did not purchase a home at these high prices that they would never be able to own a home. Everyone thought that the homes would be going up. Many people made investments in flipping a home. This lead everyone to dive into the market and purchase a home. Many of us dove into purchasing a home that now in 2009 has little to no value. Why? Because having property means that you are stuck! No one is purchasing even with values so low!

Went to Martins Crossing and homes that sold for $450,000.00 are now being sold for $199,000.00 and having trouble with getting a buyer. What can you say to yourself so that you can feel better? Nothing! Houses are not even being viewed as an asset because they can not even be sold. With no jobs, no one is purchasing socks let alone homes, boats, and cars. Recession is a time to sit down and rethink about anything you would like to purchase.

The best idea to implement when thinking of purchasing an item is to think about the item you would like to purchase and just leave it in your mind as an idea. Purchasing anything in these volatile times is not a smart thing to do. This is what so many Americans did when the housing market was rising and look what happened. It burst and now we are left with pieces.

Tres Bell on Cove Road in Stuart is a development that once had a sign up selling homes for $900,000 and Up. Now the sign is $400,000 and up. How sad as there is only a hand full of homes built in this huge development. Would you like to live with no neighbors and just sand around you? Driving into this development really shows you true reality. Once very busy with people looking and going is now at a stand still. All the developments in Martin County show signs of being started and not finished. Just yesterday I saw someone walking around with a Hobart Handler 190 MIG welder looking for fix ‘er up work!

The hustle and bustle of construction has left the state of Florida Silent. Where traffic was it is now rare to see as many people have lost their jobs or hours have been cut leaving a very lonely, silent state. Maybe in the next couple of months people who feel daring will come out and look at these beautiful developments now at a stand still and invest again. As Martin county happens to be a beautiful place to live and visit. The state of Florida is overflowing with natures beauty and the best place to escape from the cold. One thing everyone can tell you is that we can not wait for the recession to leave.