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Old 11-30-2006, 04:12 PM
 
2,141 posts, read 6,505,090 times
Reputation: 594

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Quote:
Originally Posted by cdeneve View Post
Here's the problem... with the current market in Florida, it won't sell at ALL. Lots of folks are going to be shocked as their "equity" vanishes as the market continues to fall. Check out www.thehousingbubbleblog.com. Really scarey stuff!

NOTHING is selling right now -- I had to make a major price reduction on my home to get it sold... with any luck, I'll be in Tennessee by Christmas! And yes, SunshineState, I agree with those 10 things. My daughter and her husband moved south of Nashville a few weeks ago for all those same reasons!
Real estate brokers are having trouble making these puppies play. They are closing on houses at the rate of 73 per week. At that speed, it would take two years to get rid of just today’s inventory in Florida.
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Old 11-30-2006, 04:42 PM
 
Location: Ocala area in Central FL
627 posts, read 2,686,436 times
Reputation: 337
Smile List remarks

NMSW
You live in what us Southern Tier NY folk call the NYC area... I am from the Corning/Horseheads/Watkins Glen area of NY, so ALL those things I mentioned apply to the "Areas I Lived".

YES, they do have Historic Museums in Corning, Cleveland, Erie & Buffalo areas. Not far of a drive at all! I never mentioned taxes in specific, because HOI is FAR FAR less expensive, but since it is an issue, I will tell you that 112 (One Hundred Twelve) acres with three homes on it, the taxes run $4500 in Beaver Dams NY. Since there are no mortgages on the place, it is dirt cheap.

People must think that the entire state of NY is like NYC and it's metro, but it is a FAR Cry from that place... And, You know, I have driven through that Nasty NYC, NJ and DC traffic many a time... last July 4th was a joke!

Skinny dipping in the lake! Man!!! Lake Erie! we used to go dipping at Lake Lanier in GA too. Nothing but CARP and Catfish in that water!

BTW: I have had snow on Christmas every year I lived and or visited up north in OH and NY.

Renting in FL is the best thing for us right now, we pay less than $1000 a month for something new that other folks have spent over $225K on. So, all that extra we just sink into the 401K pre-tax. No HOI, No Tax on an over-exagerated price (If the rent increases, we will move). There are Dozens of new homes here starting at $795 a month up. Plenty to choose from.
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Old 12-01-2006, 07:08 AM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 13,318,099 times
Reputation: 1015
Quote:
Originally Posted by macguy View Post
You can't just cancel your insurance unless you own the house free and clear. You said you didn't plan on having any insurance in another post but you also don't have any money to buy a house. How do you plan on doing that? The storm part is a part of the policy. I could not in my wildest imagination think of not carrying fire and liability? Forget the house getting blown down, that can be nothing to having someone sue you. Have you even owned a house?

The person who started this thread told a nice story of how you can have your cake and eat it too regarding building your own house from their own personal experience. I told the same type story recently. Why are you debating them, you don't have a clue or know what you are talking about at all. They actually did it, it was not a fantasy like yours. I suggest you go get that great $50,000 house that is so fantastic and enjoy yourself, the rest of us will live in the real world.

Many people own free and clear and they have the right not to play games with their insurance companies. They dont like going uninsured either but at those costs, the insurance doesnt deserve their business. How much would fire and liability insurance cost on a $16k house? $50k? If too much, id much rather self insure. His story is good but I dont know how to build houses and I can buy one already built in Oil city, PA for far less than it costs to build one.


Quote:
Originally Posted by SunshineState View Post
That would be a great idea to cancel our homeowners insurance however what shall I tell my mortgage company?? Besides that is not the answer to the problem these insrance companies are raping people, they want NO risk and lots and lots of profit!

As soon as you finish paying off the mortgage, that is then you are free.


Quote:
Originally Posted by firemed View Post
Real estate brokers are having trouble making these puppies play. They are closing on houses at the rate of 73 per week. At that speed, it would take two years to get rid of just today’s inventory in Florida.

Thats why prices are still eroding.
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Old 12-01-2006, 10:40 AM
 
12 posts, read 42,599 times
Reputation: 14
Quote:
NOTHING is selling right now -- I had to make a major price reduction on my home to get it sold... with any luck, I'll be in Tennessee by Christmas! And yes, SunshineState, I agree with those 10 things. My daughter and her husband moved south of Nashville a few weeks ago for all those same reasons!
Update next day: buyers cancelled on the contract. 12 hours ago, they wanted to close in 2 weeks or less (they were pre-approved) and now... they don't want the house at all. Didn't make sense to me until I realized -- they probably started making calls this morning to get insurance quotes.

Maybe I should change my sign-on to "stuck in Florida." Geesh.
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Old 12-01-2006, 10:53 AM
 
208 posts, read 929,438 times
Reputation: 72
Well Sunshine, based on your list, I guess I know why my Dad is looking to buy a house in Tennessee now. He's retiring in February and for some reason is attracted to the Chattanooga area. He is looking at a new construction inventory home that is around 135k (isn't that sick??!)
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Old 12-01-2006, 12:00 PM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 13,318,099 times
Reputation: 1015
Quote:
Originally Posted by cdeneve View Post
Update next day: buyers cancelled on the contract. 12 hours ago, they wanted to close in 2 weeks or less (they were pre-approved) and now... they don't want the house at all. Didn't make sense to me until I realized -- they probably started making calls this morning to get insurance quotes.

Maybe I should change my sign-on to "stuck in Florida." Geesh.

Wow that sucks! Maybe you can just rent it out, even if you break even, at least you can move out and sell your house next bubble.
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Old 12-01-2006, 12:26 PM
 
2,313 posts, read 2,620,155 times
Reputation: 471
Quote:
Originally Posted by Need_affordable_home View Post
Many people own free and clear and they have the right not to play games with their insurance companies. They dont like going uninsured either but at those costs, the insurance doesnt deserve their business. How much would fire and liability insurance cost on a $16k house? $50k? If too much, id much rather self insure. His story is good but I dont know how to build houses and I can buy one already built in Oil city, PA for far less than it costs to build one.
You can't self insure against a $500,000 or $1,000,000 law suit. You want to risk wrecking the rest of your life because you want to save a few hundred a year, are you nuts or something? Liability and fire is not very expensive, there is no reason not to have it.
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Old 12-01-2006, 03:13 PM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 13,318,099 times
Reputation: 1015
Please tell me more. What do you mean by liability? I wont be letting anyone in my house except family when they visit. As for fire, very low risk. How much a year are we talking to insure? If its half a percent or less of the house value then its worth it. Thats what others I know are paying. On a $20k house, $100 annual insurance is a fair deal.
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Old 12-01-2006, 03:50 PM
 
208 posts, read 929,438 times
Reputation: 72
Liability is a serious thing Need. If someone is walking on your property, trips and breaks their neck they can sue. Or if you have a dog that bites someone, etc. There are a lot of sue happy people out there, you have to be very careful. HOI depends on where you live, but aside from some of the outrageous areas we've learned about in this forum, it isn't terrible.
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Old 12-01-2006, 06:06 PM
 
2,313 posts, read 2,620,155 times
Reputation: 471
Quote:
Originally Posted by hiknapster View Post
That was incredibly rude.
I have read through a lot of his posts here and on other boards. He is just a kid living at home who I think has been goofing on us all this time. He really isn't worth taking the time to talk with from any practical standpoint. I don't think he really is interested, he just likes to try make people who seem to enjoy their lives in Florida as unhappy as he obviously is. He may be surprised, not everyone is poor or live at home with their parents without a job. Some people live meaningful lives and earn nice livings. I just don't plan on responding to him any further.
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