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Old 11-29-2007, 09:18 AM
 
Location: Sarasota area
360 posts, read 1,727,945 times
Reputation: 226

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Quote:
Originally Posted by LewLew View Post
Agreed. However, the positive spin on that is NP is not far from Venice, Englewood, Manasota Key, Sarasota, Port Charlotte, etc. Ocala...Gainesville..Palatka are no where NEAR the ocean or anything for that matter. Gainseville has the university, but that is all. NP is closer in proximity to the ocean, and to other beach towns. With that going for it, it will always have a draw eventually. It just didn't reach the full potential before the downfall. It will come back...check it out in 5+ years. Those buyers who got in on very good deals will be laughing all the way to the bank. It is inevitable in any town within 20 miles of the ocean. I'm truly not trying to defend NP...I see some issues. However, you aren't going to get a gorgeous home with a pool, 20 minutes from sandy beaches ANYWHERE in this state for the prices there. So, there is nowhere to go but up eventually.
Yep very true.... and I don't get why people think driving 20 minutes to work or play is a huge deal. I drive 40 minutes or more on some days to work up here in crappy Ohio. And with winter setting in, it's gonna be an even longer commute because of the elements now. And yes, I'm well aware of Red Tide down there. But I don't think everyone will leave Florida because the beach has closed temporarily, when it does. I think people have to deal.
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Old 11-29-2007, 09:21 AM
 
76 posts, read 203,011 times
Reputation: 21
Quote:
Originally Posted by LewLew View Post
What are the "best" areas of Naples that you don't have to be a millionaire to live in? I didn't realize the prices fell that far down. It's not in the news as much as Sarasota area. I like both areas...we own a condo on Marco Island.
Well let see Naples Park, is WALKING distance to the beach and you can buy a home in 200,000 price range. OP I hope you're PAYING ATTENTION trust me you will thank me later. DON'T BE FOOLED!
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Old 11-29-2007, 09:32 AM
 
3,842 posts, read 9,430,621 times
Reputation: 3189
Quote:
Originally Posted by JJJNEY View Post
There was a time where if you wanted a bigger house people looked out to NP etc. Not because Naples doen't have larger homes but because they were too expensive!! Which they still are.... but because of the market you can get good deal if you are looking for 2-3BR home anyhting larger and your S***out of luck unless you're able and willing to pay big bucks.
How can one even compare NP to Naples...two completely different places except for excess housing & overpriced homes. I came close to despising every minute in Punta Gorda but if I was still forced to live in SW FL & had those two places to choose...I'd probably choose NP. More of a mix of ages w/o the nasty overwhelming sense of entitlement like many have in Naples due to just retiring there.

As the one poster stated, it is going to take time & the estimate of 5+ years is probably close to seeing any progress.

Personally, I think moving to NP without really good knowledge of the area or what is truly going on there is a serious issue, but that is for people who move there to figure out. The one poster appears to be a FL native with much knowledge of FL in general & moving to NP b/c of a job in the area. MOving to NP b/c one doesn't like snow; well, hey, good luck. Lots do it. Some make it, others don't.

As for the RE market in SW FL...people, do your research & stop listening to RE agents REALLY look at the market. Look at what has sold the past 12 months, where it has sold, what it has sold for, etc etc etc. Look at the excess inventory. Look at the major builders & what they have had to do to survive the past year or so in SW FL. Prices are still way over valued in SW FL. Take some time to research the job market & what keeps cities such as Sarasota & PC afloat. This is an area that thrives on retirees & snowbirds bringing in money at WalMart & the chain restaurants during season. It is not Tampa.

Asked the realtor for the number of homes that are for sale in NP, how many have sold the past 6 months, what have the price drops been on homes.

And, for the heck of it, TRULY look at the water/septic issue. Cape Coral & the $18,000 assessment that is being forced on its residents is beyond a problem. Five years ago no one was mentioning an $18,000 assessment in Cape Coral.... You either pay it or get a lien against your home. North Port will eventually move to city water/sewer & who do you think will be paying for it? NP is behind & it needs to catch up. Right now, there is no money for catch up, so things are stalled & have been stalled for awhile. No one has the magic answer; so moving there has its risks, plain & simple.

Not trying to say not to move to NP. Again, no biggie to me where anyone moves. Just that moving there to be 20 mins from the beach is questionable. Reality sets in & bills have to be paid, life goes on & one will not be going to the beach 24/7 365. There are real issues in NP just like there are in Cincinnati, Omaha, LA, NY, etc. The more real facts you know be both good & bad, the better off you will be. It is dangerous to move to this area of FL with rose colored glasses. If one does not have a way to pay their bills prior to moving to SW FL, it is going to be a harsh hit in the butt when you try to find a job to cover the cost of living. NP is a bedroom community; there is no professional job market. PC & Sarasota have very specific job markets. There are jobs out there but it is an area that is struggling & has been for about 12-18 months. I just am one of the many who have lived there who forewarn anyone that to move there without a job is close to ridiculous unless you can pay your bills off WalMart wages.

Last edited by 121804; 11-29-2007 at 09:46 AM..
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Old 11-29-2007, 09:34 AM
 
Location: Sarasota area
360 posts, read 1,727,945 times
Reputation: 226
Quote:
Originally Posted by JJJNEY View Post
Well let see Naples Park, is WALKING distance to the beach and you can buy a home in 200,000 price range. OP I hope you're PAYING ATTENTION trust me you will thank me later. DON'T BE FOOLED!
I first thought about living right ON the beach, but after thinking of hurricanes and surge and all that, I decided living inland somewhere (but no more than 10 or so miles 15-20 mins) from the beach, was a better idea. So NP seemed an excellent choice. And cheaper yet still close to beaches. And still am keeping my eye out for other Sarasota-Venice-Englewood-PC areas, just nothing "hood". Now before everyone starts blasting on me about hurricanes, I'm well aware no one in Florida is "safe" BUT living somewhat inland does offer some protection as others have said.... Soo, this is what I'll be taking down with me when I start looking.
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Old 11-29-2007, 09:44 AM
 
1,023 posts, read 2,994,842 times
Reputation: 271
Quote:
Originally Posted by 121804 View Post
How can one even compare NP to Naples...two completely different places except for excess housing & overpriced homes.

As the one poster stated, it is going to take time & the estimate of 5+ years is probably close to seeing any progress.

Personally, I think moving to NP without really good knowledge of the area or what is truly going on there is a serious issue, but that is for people who move there to figure out.

As for the RE market in SW FL...people, do your research & stop listening to RE agents REALLY look at the market. Look at what has sold the past 12 months, where it has sold, what it has sold for, etc etc etc. Look at the excess inventory. Look at the major builders & what they have had to do to survive the past year or so in SW FL. Prices are still way over valued in SW FL.

Asked the realtor for the number of homes that are for sale in NP, how many have sold the past 6 months, what have the price drops been on homes.

And, for the heck of it, TRULY look at the water/septic issue. Cape Coral & the $18,000 assessment that is being forced on its residents is beyond a problem. Five years ago no one was mentioning an $18,000 assessment in Cape Coral.... You either pay it or get a lien against your home. North Port will eventually move to city water/sewer & who do you think will be paying for it? NP is behind & it needs to catch up. Right now, there is no money for catch up, so things are stalled & have been stalled for awhile. No one has the magic answer; so moving there has its risks, plain & simple.

Not trying to say not to move to NP. Again, no biggie to me where anyone moves. Just that moving there to be 20 mins from the beach is questionable. Reality sets in & bills have to be paid, life goes on & one will not be going to the beach 24/7 365. There are real issues in NP just like there are in Cincinnati, Omaha, LA, NY, etc.
May I ask where you live? You are right to say that going to the beach 24/7 will not happen. You are also right that comparing Naples to NP is not really apples to apples. However, anywhere in FL right now is depressed. I am not a real estate agent, but a Manager with a Fortune 500 builder. Doom and goom is media driven...you are buying into it. It's cyclical, and will come back. Jax is in bad shape, and Lennar, Beazer etc. are all pulling out. Growth is not happening, there is an excess of inventory. That is anywhere in Florida right now. Ask any real esate agent how many homes are for sale anywhere in the sunshine state, and you'll be shocked. It is not indicative of one particular area. Research is necessary if you move anywhere. We moved to Jax....whoops. Didn't do enough research, bought into the media about the growth, and are miserable. Anywhere you live is highly subjective. You move there for what you like, what you do for a living, where your heart is. This is a very bad market across the country....not just real estate, but the economy is iffy at best right now. You just can't speculate which way it will go...especially with elections coming soon. Buying a home is always risky, but it's safer than a lot of other places to put your money. Be smart, offer what you can afford or less, and truly choose where you'll be happy. If you do that, who cares about all the media hype...you can afford your home, you are happy where you are, and life goes on.
My friends have had their home on the market in Jacksonville for over a year. It's priced 50K under what they bought it for, and 40K under appraisal. Still, no buyers. It is everywhere.
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Old 11-29-2007, 09:48 AM
 
1,023 posts, read 2,994,842 times
Reputation: 271
Quote:
Originally Posted by FringedNFab View Post
I first thought about living right ON the beach, but after thinking of hurricanes and surge and all that, I decided living inland somewhere (but no more than 10 or so miles 15-20 mins) from the beach, was a better idea. So NP seemed an excellent choice. And cheaper yet still close to beaches. And still am keeping my eye out for other Sarasota-Venice-Englewood-PC areas, just nothing "hood". Now before everyone starts blasting on me about hurricanes, I'm well aware no one in Florida is "safe" BUT living somewhat inland does offer some protection as others have said.... Soo, this is what I'll be taking down with me when I start looking.
No one should blast you...it's a legitimate concern. I doubt you'll get swept away again on the west coast....that is cyclical too. Hurricanes are typically Easternshore problems. However, your insurance company will stick it to you worse than the storm...so you are smart to be a little further away at this point in time.
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Old 11-29-2007, 11:39 AM
 
76 posts, read 203,011 times
Reputation: 21
Quote:
Originally Posted by LewLew View Post
No one should blast you...it's a legitimate concern. I doubt you'll get swept away again on the west coast....that is cyclical too. Hurricanes are typically Easternshore problems. However, your insurance company will stick it to you worse than the storm...so you are smart to be a little further away at this point in time.
Hey Sorry to get off the subject but does anyone know of a BANK that does jumbo loans at 100%
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Old 11-29-2007, 11:44 AM
 
1,023 posts, read 2,994,842 times
Reputation: 271
Quote:
Originally Posted by JJJNEY View Post
Hey Sorry to get off the subject but does anyone know of a BANK that does jumbo loans at 100%
I do not. Are you talking Jumbo 415K or higher (the minimum jumbo loan) or in the millions? Depending on assets, some of the larger banks are still able to do this.
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Old 11-29-2007, 11:52 AM
 
76 posts, read 203,011 times
Reputation: 21
Quote:
Originally Posted by LewLew View Post
I do not. Are you talking Jumbo 415K or higher (the minimum jumbo loan) or in the millions? Depending on assets, some of the larger banks are still able to do this.
625K to be exact which banks to you know will do this at 100%
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Old 11-29-2007, 12:21 PM
 
1,023 posts, read 2,994,842 times
Reputation: 271
Quote:
Originally Posted by JJJNEY View Post
625K to be exact which banks to you know will do this at 100%
I believe that Countrywide can still do it, but the rate will be pretty high...unless they have 720 or higher score. Bank of America still has some programs, but without knowing the extent of what they have in debt to income ratio, other assets, income etc. (that will be the telling part)....I can't say for sure. Sorry. Maybe there is a strong mortgage broker out there on the thread. You should start a new post asking this question.
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