Real Estate Discussion

[robivi3]

Home prices are still going up here despite everything. One of our TH's just sold for 267,000, 239,000 was three months ago. For the heck of it we looked up my parents old house on Miami Beach, now this isn't my house and my Dads current wife has gone through his money like water and we lived here a LONG time ago, a WORLD has passed away since then and i have no connection to my Dads former wealth, my life is radically different from my upbringing, so please no "wha' hoppen" questions. I'm happy, never taught anything about $$$$ by the parentals and thought everyone had everything, yadayadayada, doesn't matter now.

The old house is a one acre home on Indian Creek on Miami Beach, it is 4700 square feet plus two one bedroom servants apartments plus a four car garage. It is valued at 2.17 million right now and rose $47,000.00 IN ONE STINKING MONTH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! That is no joke, the market value increased that much in a month.

According to folks posting in City-Dataforum.com they are sayiong that even with the insurance rise the Florida is still cheaper to live in, I thought we were done for and people are still coming.

[tinroofrusted]

Ummm.

WOW!

[robivi3]

BTW, I sold my Tennessee land for 16,000 last week. Paid 8500.00 a year ago. We are going back up on July 29th. I think that we are going to dive in and buy Commercial Property on Highway 127, my slice of Paradise. I'm gonna chance and finance. I'm just tired of $$$$ going out and nothing seems to replace it. I want some extra income when i go to live there.

I would like to get something near a golf course or such in Cumberland County (Tennessee's golf capital) where the izods and dockers and seniors crowd go. Perhaps looking to build a Doctors Office or Convenience Store or something solid with a lease possibility. I'm diving folks, I just look at what i make down here and it evaporates quickly. I have a feeling i will really enjoy my income once the boys are gone. Of course next to my wife they are my life, we have had so many good memmories and hard struggles together. There were so small at one time and we were so broke, so debtless and so happy in our ignorance.

I have already explained that if you marry be sure as much as you can that it ain't all lust (most of it will be during the first year, it was for us at least, we were rather inexperienced which made it better) 'cause when you divorce and take my grandkids away i will hunt you down like a dog. I've worked all my life and raised honestly, trouble free kids, the worst thing has been my oldests thing with the Lubavitchers and some games gradewise in College. They are older teens now and i have to admit I have had no problems with them. All my struggles in life have been financial, not family.

My wife and I came from different Countries but the same general upbringing and sort of the same style families, very conservative, both of us went to private schools except in Miami where we both were culture shocked. We both even had to learn manners as far as attending formal classes. Just been real foryunate in this wise, moneywise, she's better than i am, letting her take the reigns period.

[FilingOnMyOwn]

Yeah, fl is getting outrageous. And seems to be no end in sight. More people keep flocking here. Unemployment will remain low as long as more retirees keep coming here and not work. Minimum wage is now rising according to inflation. So wages here are rising as well. I'm also thinking about a gas station / convenience store type idea. At current prices gas station owners are making 25 cents or more per gallon.

[SinkingFast]

I thought we were done for and people are still coming.

I heard on the radio a while back that 800 people per day, on average, move into Florida. Mostly from NY/NJ area. It's the fastest growing State in the Country overall.

[robivi3]

But now we got that sign, "Warning, Florida residents are permitted to use deadly force", keeeewl!!!!!!!!!!!!!!!!

[debtisbad]

Rob,

My dad is telling me that Destin and Panama city are slowing down. It is not the price of the condo's, it is the property tax. He bought his about 10 years ago so his tax is reasonable. But, folks buying today have much higher taxes. He told me last week, if he did not already own his place, he would rent an apt. Said way too $$ if someone is coming in today. I am sick that I sold my place in Sarasota. Sold it way too early. Place is worth about 500k today. Would kept me out of bk!!!! I can never afford to come back, which is somewhat sad. I am trying to find a warm place that is still reasonably priced. Northern AZ, perhaps?????? Still miss GA, but hell, Atlanta is a parking lot. Cannot get anywhere in the city!!!!!

[robivi3]

I was shocked at the traffic in Atlanta last time. Alot of my co-workers (white and black) have opted for Atlanta, they love the city and outskirts. No thanks from me, had enough. When I'm done here, that's it for big City life.

[tinroofrusted]

Yeah, fl is getting outrageous. And seems to be no end in sight. More people keep flocking here. Unemployment will remain low as long as more retirees keep coming here and not work. Minimum wage is now rising according to inflation. So wages here are rising as well. I'm also thinking about a gas station / convenience store type idea. At current prices gas station owners are making 25 cents or more per gallon.

I guess I never thought about that what with the retirees and all... Very thought provoking!

[robivi3]

It will pick up if they enact the new law allowing you to carry over from your previous home. Your tax will go up of course but will still only increase 3% per year. I guess they gotta work out the kinks and limits which takes time. I mean it is unreasonable to expect to go from say 200,000 to 700,000 and not get an increase.

[AMISLANDER]

Between the rise of the property tax and the windstorm insurance being dropped...

...it is turning into a nightmare here in FL.

They are dropping the windstorm coverage for new construction...now, if a big one comes through here & blows down new construction...who eats the cost of rebuilding what's not even quite built?

The retirees are not going to be carrying insurance on their homes much longer at the rate our home insurance is rising...last week, Nationwide is going for a 71% increase...pricing people right out of insurance...

I don't have any renter's coverage either...I can only imagine what that is now...my stuff isn't worth it...just taking the photos & running!

It's just getting weirder every day down here.

[Titan]

What all of you who still live in Florida are describing are the reasons I moved from Florida to Tennessee. I couldn't deal with the ridiculous cost-of-living increases, the hurricanes, the overcrowding, and the flat out rudeness that has taken over the area.

I have lived in Nashville for 1 year now, and I couldn't be happier. I only wish I had had the means to have done this years ago.

[scammer]

...it is turning into a nightmare here in FL.

They are dropping the windstorm coverage for new construction...now, if a big one comes through here & blows down new construction...who eats the cost of rebuilding what's not even quite built?

The retirees are not going to be carrying insurance on their homes much longer at the rate our home insurance is rising...last week, Nationwide is going for a 71% increase...pricing people right out of insurance...

I don't have any renter's coverage either...I can only imagine what that is now...my stuff isn't worth it...just taking the photos & running!

It's just getting weirder every day down here.

So what will stop the growth in your opinion? I think you living there will have an interesting perspective. I truly don't understand why prices are doing that, I thought the insurability would wack the growth.

[FilingOnMyOwn]

So what will stop the growth in your opinion? I think you living there will have an interesting perspective. I truly don't understand why prices are doing that, I thought the insurability would wack the growth.

It probably won't stop, until the housing here reaches what it has in much of california. And its still got along way togo to get that far.

[robivi3]

Down here, Venezuela is having an impact, but Latin economies whether good or bad themselves always seem to have a positive impact on SoFla. I agree with Filing, there is alot of money down here. Half a mile from me Artesia has gone up, a 40 acre or so venetian style community 1256 square ft, 400 grand 2/2, 709 per month maintenace, unreal, they sold out, unreal.

Americans are also coming, but in lower numbers. Illegals, hahahahahahaha. Who kno even could guess! Well, sitting here waiting for Home Depot to come measure my kitchen cabinets, waiting... waiting....