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skytrekker - I am not referring to California's housing market which I know is having problems. I am referring to the rest of its economy which seems to be much broader and deeper than Florida's. California has a huge job/industry base that seems to be resilent. Their housing market tanked because they had such an enormous increase in housing values in a short period of time. That type of increase is not sustainable for a long period of time, so it had to end. The rest of their economy is doing well. Jay
Much of California's growth in this decade has been predicated on real estate- with the huge run up in real estate prices- with image happy Californians- going for the biggest SUV- sports car, new and bigger home, the right vacation, etc. Adding billions to the economy, from equity withdrawal or MEW. Thats over now- with home sales in L.A county falling 50% compared to a year ago-yikes
I think it is fair to say the California has a diverse economy- however that does not mean it is immune from a recession. Silicon valley in the bay area has and will always be a hot bed of innovation- but one must also stress that much of the manufacturing is now being done overseas.
Housing prices in just about all of California including the IE (Inland Empire) is overpriced based on income.
Florida also is vulnerable- more so then California, since its growth was not in 'thought capital' as California and the northeast, but more on in migration because it was so 'cheap'. That illusion is now ending as well-since most of Florida's growth has been dependent on real estate and tourism.
Last edited by skytrekker; 09-10-2007 at 02:08 PM..
It has gotten so crowded down here ... It amazes me how they allow houses to be built 12ft apart and then there are those with zero lot lines. The sad thing is that builders are still putting in planned development areas - ripping out the country side for a few bucks and now no one is buying them due to the economy here.
I am so looking forward to getting out of this deed restricted state and back where zoning laws make sense and get some elbow room!
Well...you're not going to have any more elbow room in an apt. in CT than you will in one in Fl...based on the salary figures you posted, you really won't be able to buy that nicely zoned home here.
Not being nasty, just real, sorry. I don't like FL myself so I hear ya there.
Well...you're not going to have any more elbow room in an apt. in CT than you will in one in Fl...based on the salary figures you posted, you really won't be able to buy that nicely zoned home here.
Not being nasty, just real, sorry. I don't like FL myself so I hear ya there.
I don't live in an apartment here in FL. I have a 1600sqft house on what I call a post stamp size lot; and I plan on putting it on the market next year. When it sells I'm moving. I will work two jobs in CT if needed to get back to where I feel is "home".
TisMe1020... My mom moved to the Tampa area (Clearwater) 8 years ago and is always telling me how much worse the traffic has gotten, and that the summers have also become much hotter. The area has grown tremendously, hasn't it?
Anyway, I work in Newtown and forget the real estate taxes, the price of homes here has gone through the roof in the past 8 years! The new homes being built here are mostly in the $500,000 and up range. That has pushed the value of even the older homes way up.
So, you're right on to be looking at New Milford or Southbury. I think prices are probably a bit more reasonable in New Milford, so you might have more to choose from or be able to get a slightly larger home and/or yard.
The mill rate in New Milford is 26.16, so taxes on a $300,000 home would be approximately $6300, if I'm figuring it correctly. I just did a quick google search on average CT homeowners insurance rates and came across the figure of $800, but have no way to verify, sorry.
Best of luck with your plan. I hope you are able to sell your house when you're ready.
CTlibrarian - your mom is correct... traffic here is terrible!! But I must put it in perpestive: When I lived in Newtown, I also worked in Newtown. My commute back then was all of five miles and I took the back roads to Rt25. I was lucky if I saw a jogger, wild turkey or even a school bus. I-84 can compare to my trip to work on I-4. So I was very spoiled in Ct with a very very short commute.
This summer has been the most hottest-humid weather that I could put up with. The long timers here said it was the worse they can remember. I just got my electric bill and it was $238. That is the highest it has ever been ... I compared my usage on my bill to the rates at Northeast Utility and if I lived in CT my bill would have been $300. I do that so that I won't be in shock with my first electric bill in Ct.
I think you are about right on the house insurance cost. We are keeping an eye on the homes in New Milford and Southbury... I also have thoughts of New Fairfield because I did live there for about 6years and liked it.
I hope next year the market improves a bit... I'm not expecting to come ahead in this sell but breaking even would be nice.
Its kinda funny that in Ct the veggie gardens are pretty much on their way out. I have planter boxes for my garden and will be starting my tomatoes and lettuce greens within a couple of weeks as soon as the humidity eases up.
Location: Danbury CT covering all of Fairfield County
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Quote:
Originally Posted by CTlibrarian
Anyway, I work in Newtown and forget the real estate taxes, the price of homes here has gone through the roof in the past 8 years! The new homes being built here are mostly in the $500,000 and up range. That has pushed the value of even the older homes way up.
The mill rate in New Milford is 26.16, so taxes on a $300,000 home would be approximately $6300, if I'm figuring it correctly. I just did a quick google search on average CT homeowners insurance rates and came across the figure of $800, but have no way to verify, sorry.
The mill rate in New Milford is 21.34, so taxes on can range for a $300,000 home between $3300-$4000.
CTlibrarian is right saying most new construction is over $500,000. The average price for a single family home built since 2006 is $1,062,041 according to the MLS but the average for a home built since 2000 is a more affordable $982,035. There are a few homes built since 2000 under $500,000 near the lake where there are older homes that were once summer cottages.
$982,035 is no where near my price range of $300k or less. If all else fails I will rent until I find the home to buy that I can afford.
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The long timers here said it was the worse they can remember. I just got my electric bill and it was $238. That is the highest it has ever been ... I compared my usage on my bill to the rates at Northeast Utility and if I lived in CT my bill would have been $300. I do that so that I won't be in shock with my first electric bill in Ct. 
