Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-23-2007, 09:23 PM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 14,047,487 times
Reputation: 1032

Advertisements

Quote:
Originally Posted by Jammie View Post
Joker, are you talking about condos for that price in Florida? If so, would you give us the MLS numbers and the cities so we can check them out? Thank you and have a nice day!~

Actually a $10k condo would be a good price almost anywhere in America. My dad would take fifty of those at $10k each(if they are livable) and rent em out for $500 a month and get his money back in a very short time and make very big profit on the rental income. I would buy as many as I could afford and rent them out and buy more as I make money.

Sorry but I dont believe him. If anyone was selling a livable condo for $10k anywhere in FL, it would be sold in a minute to be rented out or flipped for like $50k or more.

Even in Texas, a $10k condo would be a tiny 1/1 needing lots of repairs and located in a crime infested neighboorhood. Ive been told the $25k condos are in questionable neighboorhoods and that you really need like $50k for the safer neighboorhoods. But $50k is a reasonable price unlike $150k in south Florida.
Reply With Quote Quick reply to this message

 
Old 02-23-2007, 09:32 PM
 
Location: Living in Paradise
5,701 posts, read 24,092,754 times
Reputation: 3064
NAH,

I had followed your post's, but is time to ask what do you smoke? I know about dad trying to help you buy home, your advise in Nevada to built a pool and others.

Give us a bottom line of what you want, please be realistic.....
Reply With Quote Quick reply to this message
 
Old 02-24-2007, 06:17 AM
 
Location: NE Florida
17,833 posts, read 33,013,501 times
Reputation: 43378
NAH
Why are you so stuck on the $50k price
How can you compare a $50k house that 90% chance will be in a bad or very "depressed" area to a $250k in a safe area?
Why because you have no idea of the areas these $50k houses are in, you just look up $50k houses on line.
You would have allot more credibility if you have been to these areas.
You start a thread that says
"Be careful what house you recommend others. don't bankrupt them!"
Yet you continuously recommend that people look into these $50k "gems" you find on the Internet.
Remember there is the real world and there is the Internet, it might be time to spend more time in the real world.
Reply With Quote Quick reply to this message
 
Old 02-24-2007, 06:57 AM
 
1,608 posts, read 9,723,996 times
Reputation: 973
Need Affordable Home - you have unrealistic expectations and as long as that's so you will never be satisfied or find what you are looking for. Not even close.
Reply With Quote Quick reply to this message
 
Old 02-24-2007, 03:12 PM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 14,047,487 times
Reputation: 1032
Quote:
Originally Posted by myfask View Post
NAH
Why are you so stuck on the $50k price
How can you compare a $50k house that 90% chance will be in a bad or very "depressed" area to a $250k in a safe area?
Why because you have no idea of the areas these $50k houses are in, you just look up $50k houses on line.
You would have allot more credibility if you have been to these areas.
You start a thread that says
"Be careful what house you recommend others. don't bankrupt them!"
Yet you continuously recommend that people look into these $50k "gems" you find on the Internet.
Remember there is the real world and there is the Internet, it might be time to spend more time in the real world.

I think a price point of around $50k is the magical point that concides with the median middle class salary of $30k to $35k. Its also just a nice low price and many houses used to be that cheap before speculators drove the price up. $250k is out of reach for most people without creative financing and working two jobs and living paycheck to paycheck. I have a friend with a masters degree and she couldnt afford more than around $100k of house and she makes more than the median income too. Even my own dad says a $50k house is the best idea for me and even $100k is really pushing it unless my home business really takes off and I make big money.

I have an idea of the area from looking at the crime index and also talking to people living in the area. Theres $50k houses in most states but I have crossed many off the list because for $50k your looking at a 1 or 2 bedroom 800 feet shack that needs plenty of repairs and its either in a more rural location or in a higher crime location. My goal is a nice $50k house in a good safe location and ive found the 10%(you said only 90% were bad )
I know people that live in areas of $50k houses and they wouldnt have to struggle with their mortgage had they gotten those good deals. One lady lived in WV and yet she bought a new house for $200k when there were older but still very nice houses in safe neighboorhoods for $50k. Now shes in debt Sorry everyone but its not worth getting yourself into debt to have the newest modern house to keep up with the Jones.

Quote:
Originally Posted by RedWingsFan View Post
Need Affordable Home - you have unrealistic expectations and as long as that's so you will never be satisfied or find what you are looking for. Not even close.
Please explain this. I think im being realistic and to be on topic with my thread, ive mentioned about Florida condos being very overpriced. I dont think those prices are close to realistic
Reply With Quote Quick reply to this message
 
Old 02-24-2007, 08:17 PM
 
1,608 posts, read 9,723,996 times
Reputation: 973
Quote:
Originally Posted by Need_affordable_home View Post
Sorry everyone but its not worth getting yourself into debt to have the newest modern house to keep up with the Jones.
How would you know, you've never done it? Obviously to a lot of people it is or people wouldn't do it.

Don't knock it until you try it, you just might like it!
Reply With Quote Quick reply to this message
 
Old 02-24-2007, 08:24 PM
 
2,141 posts, read 6,884,466 times
Reputation: 595
Quote:
Originally Posted by Need_affordable_home View Post
Actually a $10k condo would be a good price almost anywhere in America. My dad would take fifty of those at $10k each(if they are livable) and rent em out for $500 a month and get his money back in a very short time and make very big profit on the rental income. I would buy as many as I could afford and rent them out and buy more as I make money.

Sorry but I dont believe him. If anyone was selling a livable condo for $10k anywhere in FL, it would be sold in a minute to be rented out or flipped for like $50k or more.

Even in Texas, a $10k condo would be a tiny 1/1 needing lots of repairs and located in a crime infested neighboorhood. Ive been told the $25k condos are in questionable neighboorhoods and that you really need like $50k for the safer neighboorhoods. But $50k is a reasonable price unlike $150k in south Florida.
I don't think you will find a 10k condo in south Florida, But this is our selling season. Spring is the season for the north. I think by summer you will find some great deals. But finding a mortgage might be the hard part.
Reply With Quote Quick reply to this message
 
Old 02-24-2007, 08:33 PM
 
Location: So. Dak.
13,495 posts, read 37,323,200 times
Reputation: 15205
Quote:
Originally Posted by firemed View Post
I don't think you will find a 10k condo in south Florida, But this is our selling season. Spring is the season for the north. I think by summer you will find some great deals. But finding a mortgage might be the hard part.

Have they started tightening mortgages down there? It seemed that they were being overly generous before and that it caused some people to end up with a much larger mortgage then they could afford. ( I know, it was also the fault of the buyers and not just the mortgage companies.) Do they have more rules now?

I agree that a 10,000 condo would be unrealistic because it would cost much more for it to be built. If they were that affordable, no one would rent or very few people would actually buy a house. I have actually found some condos that seemed to be reasonably priced. Just not sure what kind of area they're in or if they really look like the pics show. We have VERY few condos in our area and they are extremely expensive here compared to a house.
Reply With Quote Quick reply to this message
 
Old 02-24-2007, 08:39 PM
 
2,141 posts, read 6,884,466 times
Reputation: 595
Quote:
Originally Posted by Jammie View Post
Have they started tightening mortgages down there? It seemed that they were being overly generous before and that it caused some people to end up with a much larger mortgage then they could afford. ( I know, it was also the fault of the buyers and not just the mortgage companies.) Do they have more rules now?

I agree that a 10,000 condo would be unrealistic because it would cost much more for it to be built. If they were that affordable, no one would rent or very few people would actually buy a house. I have actually found some condos that seemed to be reasonably priced. Just not sure what kind of area they're in or if they really look like the pics show. We have VERY few condos in our area and they are extremely expensive here compared to a house.
Subprime mortgage companies shares dropped on Friday, extending more than two weeks of declines and triggering slumps in many finance companies shares. Forclosures are at an all time high.
Reply With Quote Quick reply to this message
 
Old 02-24-2007, 08:58 PM
 
251 posts, read 882,710 times
Reputation: 123
Quote:
Originally Posted by myfask View Post
Do you know the "true" consturction costs to build a condo.
or are you just "pulling numbers out of the air"
I wish we had a builder on here that could tell us the difference in cost to build a condo vs a house.
hmm I bet there would be one on the "other topics forum" maybe I will start a thread there.
I would think that building a 5 or 6 story building would require a stronger "base" and supports than a single story home.
I know people that have added a room to their house and have paid anywhere from $15k to $20k.
When I was pricing enclosed sunrooms the prices were over $12k
A couple of apartments at the beach were converted to condos and the interiors were gutted and hardwood floors,granite counters and many other upgrades were added, these cost will have to be paid by someone.
My husband builds the mega-money Condo's, and homes. He just finished one on Sand Key in Clearwater. It was 2200 sq feet on the 17th Floor and finish price of 2.2 Million. I read your post and asked him if he felt Condo's have stronger base support then the mega-mansions he builds and he said no. They more frequently are built with lower grade materials (this is comparing them to the other houses he builds) because they are initially built by a builder then sold as individual units verses a "custom" home that is built to the specifics of an engineer that the homeowner "chooses". He said they do not pay for "great" construction but for location, location, location.
P.S. He also said it is always more expensive to "add" on verses "new" construction.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top