selling a house there last year, I get a lot of real estate news showing up in my news feed. I got one this morning that said that from May 2024 to May 2025, the average price for a house in my mom’s central FL town dropped 32%! We got out just in time. There are a lot of disappointed people there right now in houses they can’t sell without taking a loss; forget about flipping them for a profit. There is a big increase there in foreclosures too.
I realize that CA is not FL. But this trend seems to be happening all over the country. It might be a real advantage to be able to wait and take this hunt slowly. Keep your eye on the house you wanted but didn’t get too. Just because it’s pending, it doesn’t guarantee that it will actually close. If that deal falls through, they might be open to negotiating with you.
ETA that my sis and I sold my mom’s house for cash without a real estate agent when we inherited it. So we both had a crash course in learning about FL real estate. We had no closing costs or broker fees.
