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Old 12-01-2007, 09:20 PM
 
Location: The Conterminous United States
22,554 posts, read 47,363,062 times
Reputation: 13399

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Yep. When houses sold for $60,000, well, retirees thought it was great. A place to enjoy themselves, play some shuffleboard, until they died.

When housing prices went up, then all bets were off.

Southwest Florida isn't that nice, in fact, it can be quite ugly. And it ain't worth a house for $200,000. It never was that kind of place.
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Old 12-01-2007, 09:26 PM
 
548 posts, read 392,153 times
Reputation: 126
Quote:
Originally Posted by hiknapster View Post
Yep. When houses sold for $60,000, well, retirees thought it was great. A place to enjoy themselves, play some shuffleboard, until they died.

When housing prices went up, then all bets were off.

Southwest Florida isn't that nice, in fact, it can be quite ugly. And it ain't worth a house for $200,000. It never was that kind of place.
The only hope for SW FL is to return to those very low cost real estate days.

The classic quote of "catching a falling knife" will apply to anyone buying into 'a great deal;' because real estate has fallen in price off the peak.

SW FL will have its share of people who bought a house in 2007-2008 for $225,000, that peaked at $300,000 in 2005 that eventually falls to $150,000 or less by 2010-2011 and stays that way for decades.
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Old 12-01-2007, 09:28 PM
 
8,376 posts, read 27,791,882 times
Reputation: 2367
The people in SW Florida never seem very happy when I'm there. Between that and Miami, these have been the only places I have seen the "rude people" phenomenon that is excessively described on this forum.
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Old 12-02-2007, 06:10 AM
 
91 posts, read 312,037 times
Reputation: 40
Hi
I've lived in the SWFL area for 1 1/2 years. Moved down from the north and got the job before I moved down.

It can be done, if you do your research. I would check the job boards for the jobs that are in your field. So at least you can find out that you could land one. Also, you should check the salary conversion from where you are to the area that you choose, here. It will give you an indication of what the difference could be. I am not sure if the conversions work for CAN$ to US$ but worth a look.

You say you would like to keep to a higher Jewish population. You could try seeking more advice through your temple that may have a network with Fl, who may offer much more information than here.

Speaking about the insurance rates has to do with both regular homeowners and flood insurance. Flood insurance is required if the area is in a flood zone, so that is something to consider as well. For homeowners, this has more than doubled in the past couple of years.

There is alot to consider before making a major move. What worked for me was the year previous to the actual move is I had the opportunity to come down several times for various periods of time to check out areas that I chose that looked best to me...on paper, to physically see it and speak to people who actually live in these areas.

To me it's about personal preference,what is financially feasible, etc. Ultimately, the decision, obviously will be yours.

Maybe I am still in the honeymoon stage of living here, because I still love it.

Good luck!!
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Old 12-02-2007, 06:03 PM
 
33 posts, read 86,809 times
Reputation: 19
Default Let me tell you a little secret.....

It is all about the taxes. In Florida we can have our house Homesteaded. What this means is when you purchase a house....what ever your taxes are
at the years end is what you will pay in taxes...almost for the rest of your life.

Someone could make this clearer...but let me try. If a house purchased for $160,000 in 2001. It peaked at about $500,000 and has dropped to about
$330,000.

Now the assessment on the house was about $125,000 in 2001. This is important because what your house is assessed at is what your are taxed on.

But let's not forget the FLORIDA Homestead.....you minus -$25,000 off the assessment which means we pay taxes on $100,000. Good so far?

The BEAUTY of Florida is....no matter how much your house goes up in value your taxes can not go up more than 3%. So if you pay $2000 in taxes x .03%
the next year you only pay.... $2060 and so on.

The fact is...I pay less in Taxes now in 2007 because they lowered the tax rate. You want to know how much I appreciate this...? I used to live in Cherry Hill, NJ and paid 3 times that amount of taxes for less of a house.

The assessed values are coming down in SW Florida and either the smart Baby Boomers getting ready to retire, Europeans (because of plunging $$) or investors are going to start snapping up the houses again. I would say you have about 9 more months before they start going up.

Show me anywhere in the country where you can live on the ocean water, have a 3 bedroom and 2 baths house with a pool and get this for under $300,000 and.....your taxes all but freeze for the rest of your life.

Do I sound like a realtor....I am not. I am just a blue collar worker that got very lucky coming to SW Florida and I LOVE IT!

By the way...I love to fish for snook...in my boat.
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Old 12-02-2007, 06:15 PM
 
5 posts, read 16,679 times
Reputation: 11
I've been lurking around here for a bit now and I see all this negativity too but don't let it bother you too much.

Much of the negativity comes from the fact that this is a message board. People who are happy, never victims of crime, pay low taxes, have a nice house, and love where they live, well......they don't come finding message boards to post about how much they love where they are.

Then again, when someone is the victim of a crime where can they turn to vent? You guessed it, the message boards. Same for apartment reviews, you rarely see one with lots of positive reviews. It's because the only people who bother posting are ones who have had negative experiences. People who had a great experience don't usually go out seeking ways to let the world know they had a great experience.

Yes theres crime and traffic and high mortgages in Florida but go to any major city and you'll see similar things.

Take this board with a grain of salt, about .000001 % of the Florida population posts here. There are many happy people in Florida, they just don't go on message boards to let you know.
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Old 12-02-2007, 06:32 PM
 
1,023 posts, read 2,995,505 times
Reputation: 271
Quote:
Originally Posted by Catchsnook View Post
It is all about the taxes. In Florida we can have our house Homesteaded. What this means is when you purchase a house....what ever your taxes are
at the years end is what you will pay in taxes...almost for the rest of your life.

Someone could make this clearer...but let me try. If a house purchased for $160,000 in 2001. It peaked at about $500,000 and has dropped to about
$330,000.

Now the assessment on the house was about $125,000 in 2001. This is important because what your house is assessed at is what your are taxed on.

But let's not forget the FLORIDA Homestead.....you minus -$25,000 off the assessment which means we pay taxes on $100,000. Good so far?

The BEAUTY of Florida is....no matter how much your house goes up in value your taxes can not go up more than 3%. So if you pay $2000 in taxes x .03%
the next year you only pay.... $2060 and so on.

The fact is...I pay less in Taxes now in 2007 because they lowered the tax rate. You want to know how much I appreciate this...? I used to live in Cherry Hill, NJ and paid 3 times that amount of taxes for less of a house.

The assessed values are coming down in SW Florida and either the smart Baby Boomers getting ready to retire, Europeans (because of plunging $$) or investors are going to start snapping up the houses again. I would say you have about 9 more months before they start going up.

Show me anywhere in the country where you can live on the ocean water, have a 3 bedroom and 2 baths house with a pool and get this for under $300,000 and.....your taxes all but freeze for the rest of your life.

Do I sound like a realtor....I am not. I am just a blue collar worker that got very lucky coming to SW Florida and I LOVE IT!

By the way...I love to fish for snook...in my boat.
Thank you for explaining that to everyone! BTW: That is why we want to get back to SWFL from Jax...we love to fish for snook in our boat too!
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Old 12-02-2007, 06:34 PM
 
1,023 posts, read 2,995,505 times
Reputation: 271
Quote:
Originally Posted by Guitarzan1 View Post
I've been lurking around here for a bit now and I see all this negativity too but don't let it bother you too much.

Much of the negativity comes from the fact that this is a message board. People who are happy, never victims of crime, pay low taxes, have a nice house, and love where they live, well......they don't come finding message boards to post about how much they love where they are.

Then again, when someone is the victim of a crime where can they turn to vent? You guessed it, the message boards. Same for apartment reviews, you rarely see one with lots of positive reviews. It's because the only people who bother posting are ones who have had negative experiences. People who had a great experience don't usually go out seeking ways to let the world know they had a great experience.

Yes theres crime and traffic and high mortgages in Florida but go to any major city and you'll see similar things.

Take this board with a grain of salt, about .000001 % of the Florida population posts here. There are many happy people in Florida, they just don't go on message boards to let you know.
Yes, I agree 110%! As I said before too....people who live in Florida and love Florida, are out enjoying all the things Florida has to offer. The majority of the negative posts are from people who no longer live in Florida, or are moving somewhere else! Florida is great! OP, I hope you come to Florida, and enjoy as much as a lot of us do.
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Old 12-02-2007, 06:45 PM
 
548 posts, read 392,153 times
Reputation: 126
Quote:
Originally Posted by Catchsnook View Post
It is all about the taxes. In Florida we can have our house Homesteaded. What this means is when you purchase a house....what ever your taxes are
at the years end is what you will pay in taxes...almost for the rest of your life.

Someone could make this clearer...but let me try. If a house purchased for $160,000 in 2001. It peaked at about $500,000 and has dropped to about
$330,000.

Now the assessment on the house was about $125,000 in 2001. This is important because what your house is assessed at is what your are taxed on.

But let's not forget the FLORIDA Homestead.....you minus -$25,000 off the assessment which means we pay taxes on $100,000. Good so far?

The BEAUTY of Florida is....no matter how much your house goes up in value your taxes can not go up more than 3%. So if you pay $2000 in taxes x .03%
the next year you only pay.... $2060 and so on.

The fact is...I pay less in Taxes now in 2007 because they lowered the tax rate. You want to know how much I appreciate this...? I used to live in Cherry Hill, NJ and paid 3 times that amount of taxes for less of a house.

The assessed values are coming down in SW Florida and either the smart Baby Boomers getting ready to retire, Europeans (because of plunging $$) or investors are going to start snapping up the houses again. I would say you have about 9 more months before they start going up.

Show me anywhere in the country where you can live on the ocean water, have a 3 bedroom and 2 baths house with a pool and get this for under $300,000 and.....your taxes all but freeze for the rest of your life.

Do I sound like a realtor....I am not. I am just a blue collar worker that got very lucky coming to SW Florida and I LOVE IT!

By the way...I love to fish for snook...in my boat.
There is no way on earth home prices in SWFL are going to go up starting in 9 months.

In fact, the negatives such as tighter lending standards, foreclosures, ARM resets, higher utilities and gasoline, tighter job market, historic levels of credit card debt....those are just starting to build.

9 months from now things will be getting worse, same thing in a year, same thing in 2 years. Credit Suisse has a chart that is readily available that shows the number of ARM resets is huge over the next 18 months. The wave of foreclosures has barely even begun.

The tax situation as you explained it does not apply to new buyers. It applies to existing home owners. Those that buy now will face way more property taxes than the former owners did until prices fall back to real fundamental levels. That is one major reason houses won't start selling until prices come down a lot more.

Many housing blogs have posted study after study....there are no massive numbers of Europeans coming to SWFL, they are retiring many other places. There are no massive numbers of baby boomers coming, most have no retirement savings, are retiring elsewhere, are working longer. Those that do come want small condos or townhouses, not the 3-5 bedroom houses flooding the SWFL inventory.

Median area income and rents will decide where SWFL real estate prices will fall to. Most areas of SWFL have median incomes around $40,000....houses will fall back to a $120,000 median again.

That house example of $160,000 in 2001 that peaked at $500,000 and is now $330,000? It will come back down to $160,000 or maybe even below.

In 2001 people had more money to put into principle and interest. Since then gasoline has doubled, personal debt has doubled, property insurance has doubled and tripled, property taxes have doubled and tripled, food and other staples have gone way up. The money available to service a mortgage is much less than it was in 2001.

The SWFL crash has barely even started. The housing bubble blogs were right in 2003, right in 2005 and they are right now. They said the bubble was forming. They predicted everything all the while the 'experts' were telling us something different. I think I will trust them now when they say SWFL real estate has a loooong way to fall.

And I love Florida and defend her over and over on this forum. But SWFL real estate?? Please, the disaster has only just begun.

Last edited by CJFlorida; 12-02-2007 at 07:08 PM..
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Old 12-02-2007, 06:54 PM
 
8,376 posts, read 27,791,882 times
Reputation: 2367
"You must spread some Reputation around before giving it to CJFlorida again"
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