[blauskies]

Originally Posted by Christian11

Condos are really bad. They are nothing but apts which you own and spend lots of cash on.

As for "ideal" se FL town... man, you needs to be in the $500,000 price range to get anything "ideal". Anywhere you live in south Florida, you will be under siege by the ghetto folks/crack dealers which will sourround the area.

Oh on apt. conversions... LOL Oh my goodness, these are sooo funny. People actually PAY massive bucks to buy a crappy old apt unit that used to be a rental. Hello?!? Do you remember when you lived there and was mad about paying $1,000/month is rent? Well, why pay $1,500 - $2,000/month in a mortgage for the same exact crappy apt unit??! These apts are still the same cheap construction, where you can hear neighbors yelling upstaris, people flushing their toilets next door, the dog running around on the apt above you.... why would anyone get into one of those "condos" is beyond me. Try selling one now.... yeah, impossible, huh? Oh, remember the association fees that started off as an affordable $150 or so per month? Now they are about $300... $400 a month aren't they? Try finding some otehr sucker to take over that!

One thing to remember: Homeowner's insurance in FL is through the roof since 2004 (worst hurricane season ever). Property taxes are also freakin' high, so new buyers, do your math before you buy!! It will save a lot of tears and grief to you, your spouse, and your family later on. See that home for $200,000 you know you cannot comfortably afford, but you feel tempted? Have you added the property taxes and homeowner's insurance to that online mortgage/payment calculator you found on the seller's website? Did you add the Homeowner's Association fees? Have you considered the yard water costs, which are high since your grass has to be super green to avoid a fine from the Homeowner's Association? If not, maybe you should start considering all that. If now you feel too stretched to pay for lal these costs, then it is time you either move along and avoid buying anything or buy it and have ulcers trying to pay for the property for the next 10 years.

$500K in Palm Beach County will get you a real nice house with a barrel tile roof and CBS or poured wall construction, I see nice homes here in gated well manicured communities for less, yes and your right the HOA and Insurance fees are thru the roof along with property taxes which are soon going rise to fund the influx of people moving here.

Condo conversions are dead, they were booming here and now I see places all over now turning back to apartments and/or renting.

Fact is, if you want to live here and keep up with the Jones, you have to be Rich.

[LeavingFlorida05]

Apartments were converted to condos because the owners could make money that way. The reason is, more people could afford homes because of the low interest rates. Now that rates are up, fewer people can afford to buy and more are forced to rent. So, the scales have tipped back in favor of apartments.

It's actually more complicated than this, but this is the driving force.

[Christian11]

Originally Posted by blauskies

Just a word of advice moving to South Florida, can be very tough if your not 1) rich and 2) self-employed and making a very good living and able to move your business and succeed here or 3) retired and rich.

Depending on your standards, a median priced house in a nice say gated area in South Florida will run you between $350K and up, the prices dropped over the past six months but they still are overpriced and nicer areas with better (can't say great) school systems will cost you even more.

Housing, Insurance Cost due to the hurricane years of 2004-2005 have made it even more expensive to pitch a tent here. Add to this, the school system is overtaxed and overcrowded. Many companies aren't willing to move here based on these issues and it's no secret that many existing companies are whining about the issues facing them in luring prosepective candiates here for vacancies. Even if you have the qualifications and desire the "Florida Lifestyle", you may not be able to make enough $$ to pay the bills or save for Junior's College Fund along with keeping up with the Jones.

The job market here is either good of bad, depending on who you talk to. I think you will find more people admitting the salaries suck based on the cost of living. The last year it was cheap here was probably around 2002, even prior to that a new home in a gated community like a 3/2/2 was $169K now that same home is $350K+ Condos are much cheaper then that unless you go downtown.

You will find out that the majority of people that live here are from the Northeast, if you don't mind a New York/New Jersey mentality then you fit in, otherwise you might find it tough to deal with.

The man/woman speaks the truth!!!

On a side note: If you are getting an ARM (Adjustable Rate Mortgage), come cry at the forums later, when you are foreclosed upon. I have heard this story in FL all the time, it's getting old, and it is time people wake up to this reality: ARMs suck! Also getting some "magical mortgage" where you pay like $200/mo for the 1st year has a lot of catches on it. Have someone esperienced and legally savy with you before you jump into one of those mortgages.

Condos and south Florida should be last option for folks.... unless, like stated above, you are rich. Wages never keep up with cost of living. Southern FL is southern California now.

[NYC2BGI]

Originally Posted by blauskies

You will find out that the majority of people that live here are from the Northeast, if you don't mind a New York/New Jersey mentality then you fit in, otherwise you might find it tough to deal with.

I guess that I will fit right in since I live in the NYC area. I will miss the good public transportation that I have here in the city but despite all of the negatives that I read on this board I still see many positives about South Florida.

[LeavingFlorida05]

Originally Posted by Christian11

The man/woman speaks the truth!!!

On a side note: If you are getting an ARM (Adjustable Rate Mortgage), come cry at the forums later, when you are foreclosed upon. I have heard this story in FL all the time, it's getting old, and it is time people wake up to this reality: ARMs suck! Also getting some "magical mortgage" where you pay like $200/mo for the 1st year has a lot of catches on it. Have someone esperienced and legally savy with you before you jump into one of those mortgages.

Condos and south Florida should be last option for folks.... unless, like stated above, you are rich. Wages never keep up with cost of living. Southern FL is southern California now.

ARMs do NOT suck. The problem is, most people have no clue how to handle their finances. People would refinance, rolling credit card debt into their home loan(s), but not change their spending habits. Then, people would charge up those cards again and repeat the process. Interest rates went up and people screwed themselves.

There were also people buying houses that were too expensive. Instead of understanding how ARMs worked, they didn't bother to learn, and end up screwing themselves.

If people don't understand how ARMs work, they can only blame themselves. ARMs are a very useful tool, when used properly.

[blauskies]

Don't forget interest only loans, many have went in over their heads with these and the forclosure rate in Palm Beach County is skyrocketing.

[MiriamEtienne]

Originally Posted by blauskies

$500K in Palm Beach County will get you a real nice house with a barrel tile roof and CBS or poured wall construction, I see nice homes here in gated well manicured communities for less, yes and your right the HOA and Insurance fees are thru the roof along with property taxes which are soon going rise to fund the influx of people moving here.

Condo conversions are dead, they were booming here and now I see places all over now turning back to apartments and/or renting.

Fact is, if you want to live here and keep up with the Jones, you have to be Rich.

HOW RIDICULOUS THIS SOUND................" KEEPING UP WITH THE BANKRUPT JONESES SO YOU CAN JOIN THEIR BANKRUPT CLUB AND GO LIVE UNDER THE BRIDGES BEAR THE US 1 OLD HIGHWAY............

BETTER YET.................BUY A TENT AND MOVE TO THE EVERGLADES...............BRING YOUR MERCEDES THERE.............I DO NOT KEEP UP WITH THE JONESES..................live your life the way you feel most comfortable..............YOU ONLY LIVE ONCE...........BE HAPPY !

[macguy]

Originally Posted by MiriamEtienne

HOW RIDICULOUS THIS SOUND................" KEEPING UP WITH THE BANKRUPT JONESES SO YOU CAN JOIN THEIR BANKRUPT CLUB AND GO LIVE UNDER THE BRIDGES BEAR THE US 1 OLD HIGHWAY............

BETTER YET.................BUY A TENT AND MOVE TO THE EVERGLADES...............BRING YOUR MERCEDES THERE.............I DO NOT KEEP UP WITH THE JONESES..................live your life the way you feel most comfortable..............YOU ONLY LIVE ONCE...........BE HAPPY !

You are responding to a year and a half old post by a poster who hasn't posted in over a year.