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Old 01-26-2009, 12:01 PM
 
9 posts, read 24,943 times
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I am looking to retire to Florida in about 4 years. A lot of posts talk about buying now because the prices are so low.

Even if I could afford to buy a home right now, I'm concerned about the risks. (And no, I'm not talking about prices falling further...I doubt they will fall a lot further. Also, they will eventually start to rise and a FL home's value today will probably be a bit higher 5 years from now.)

Say I find a nice single-family home for $90,000. Well, I won't be living in it for 4 years, so except for my brief vacations, it would be vacant. Wouldn't it run the risk of being vandalized like so many foreclosures? I see listings of homes where people have gone in and stolen appliances, etc. because the homes are not monitored.

Does any one know of a service where you can have someone keep an eye on your home and what that would cost?

Also, I would think with so many vacant properties on the market, finding consistent renters (so I can make the mortgage payments) would be nearly impossible.

Your thoughts?
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Old 01-26-2009, 01:04 PM
 
Location: Venice Florida
1,380 posts, read 5,244,347 times
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I would not recommend buying now for latter. While you may find a great deal today, I don't think you will enjoy being a long distance landlord. If the house was in a great rental area the likelihood of picking it up for $90k is very remote.
I don't think that prices will rise dramatically in the near term, as long as the bank foreclosures are driving the market, prices will stay low. The combination of price/interest rates are hard to beat, but as a landlord your interest rate will be higher than as a resident owner. You will also have higher insurance rates.
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Old 01-26-2009, 01:13 PM
 
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Good points Bob. Thanks for responding.

I don't think other folks have been thinking about issues such as landlord insurance rates, potential for vandalism, etc.

They just see -- look at the deal on that house!!!

Agree about the $90k being unlikely for a great rental area. The ones in that price range I am talking about are in bedroom communities where people want to possibly retire - such as 1/2 hour from beach - but not rent while on vacation.
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Old 01-26-2009, 03:13 PM
 
Location: Full time in the RV
2,869 posts, read 6,409,975 times
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They have house watchers who will keep an eye on the place, run the water, flush the toilets etc.
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Old 01-26-2009, 04:53 PM
 
Location: Sarasota, Florida
807 posts, read 2,827,666 times
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House watching is a service my company provides to folks like yourself. I had a lot of calls from owners who just need someone they can trust to be their eyes and ears when they're gone. As was said, we'll do a security walk-thru as often as the owner feels necessary.

Hopefully, you'll find what you need.
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Old 01-27-2009, 08:28 AM
 
9 posts, read 24,943 times
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What is the monthly range for a house watching service? Would just like some sort of idea. Thanks
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Old 01-27-2009, 09:04 AM
 
Location: Navarre, Florida
96 posts, read 245,310 times
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Quote:
Originally Posted by carolanna20 View Post
Good points Bob. Thanks for responding.

I don't think other folks have been thinking about issues such as landlord insurance rates, potential for vandalism, etc.

They just see -- look at the deal on that house!!!

Agree about the $90k being unlikely for a great rental area. The ones in that price range I am talking about are in bedroom communities where people want to possibly retire - such as 1/2 hour from beach - but not rent while on vacation.
Carolanna, mind giving me the location you are thinking about where you can buy a home for $90K 1/2 hour from the beach?
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Old 01-27-2009, 04:15 PM
 
Location: Sarasota, Florida
807 posts, read 2,827,666 times
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Quote:
Originally Posted by carolanna20 View Post
What is the monthly range for a house watching service? Would just like some sort of idea. Thanks
We charge $25.00 per visit with a minimum of 2 visits per month. That gets all things checked out and a report of any problems. Plant care, lawn care or any maintenance is extra.
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Old 01-31-2009, 10:16 AM
 
9 posts, read 24,943 times
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You asked about where to find a 90k home 1/2 hour from the beach. One of the communities is Riverview. It is half-hour from Tampa and has plenty.

You can go to realtor.com (i think you have to register an email address) - choose Tampa Fl a price range, etc. Then, when the listings come up, you can choose the number of miles from Tampa, age of home, single family, etc. You'll be amazed.

There were some in Brandon too - which is supposed to be nice. I found hundreds in an area called Lehigh Acres but posts tell you to totally avoid it. So many foreclosures that it is rampant with crime.

Hope this helps
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