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Old 03-25-2007, 12:22 PM
 
Location: So. Dak.
13,495 posts, read 34,025,136 times
Reputation: 15058

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Quote:
Originally Posted by bmurphy View Post
I think for most people North Florida is "cheap". Homes in the 100's and low 200's are pretty darn average, or even good deals, these days. I don't know why $150k is an "expensive" home.

My grandmother's house is ~1100 sq feet, brick, pretty nice, but I'm guessing far too small for you, NAH, with all those lovely collections.

This house is in Wilmington, DE, which I'm sure you think is "overpriced". Guess how much it was in 1994? $113k. Ridiculous? No. Actually pretty cheap, even more than a decade ago. The 1994 median in the US was $130k, so $113k is a fairly good deal, no? Today the house is worth I believe $215k, average appreciation.

Your views on home prices need to change. This is not 1970. You should look at this chart of the national US home price median. It has not been below $100k since 1987.

http://therealreturns.blogspot.com/2...use-price.html

The last date on the chart, 2004, shows a median of $221k. Therefore, a $200k house is not ridiculous, and those are the prices in North Florida.
What equation did you use to come to the conclusion that it is "average appreciation." You stated that the value of the house was 113,000 just 13 years ago and is now worth 215,000. That's a lot more then the average 3% per year increase.
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Old 04-08-2007, 09:35 PM
 
Location: PA
669 posts, read 2,942,706 times
Reputation: 278
Sorry, I didn't use an equation. I just figured it was roughly average for it to come up about $100k in 13 years. Sorry, I was obviously wrong.
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Old 03-23-2010, 12:56 PM
 
4 posts, read 5,255 times
Reputation: 10
Believe me, I`ve been living in South Florida for over 10 years, and is far more expensive that North Fl and let me tell you, is getting worst...The areas that were relatively safer and cheaper are gone, they are constructing expensive town homes and gated communities and it just keep spreading, the jobs don`t pay and if you want to rent on your own, well, most likely you ended up in a bad area, I was paying almost a thousand for 1 bed 1 room, and I could use the pool or jacuzzy because was always broken. That not including electricity, food, insurance and cost of living.
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Old 03-23-2010, 01:31 PM
 
4 posts, read 5,255 times
Reputation: 10
Believe me, I lived in South Fl for over 10 years and it is expensive, the areas that were somewhat cheaper got expensive because they got remodeled or fancy town-homes and gated communities were buitl close by. I was paying almost a grant for 1 bed, 1 room, of course not including electrical, phone,food and so on. I was never able to use the gym, pool or jacuzzy because they either closed or broken and it was an OK area. In W. Palm 70% of the population is rich so they assume the other 30% is rich too, you pay more for car insurance and property taxes are ridiculous and let`s not even talk about home insurance, if you make good money, fine! go to S. Fl if not stay ways from it. In Lady Lake I rented a HOUSE for 700 a month, water included. See the difference?
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Old 03-23-2010, 05:03 PM
 
191 posts, read 565,875 times
Reputation: 94
All depends if you rent or buy. If you rent than any part of fl could be fine.. In Nj you pay 3,000 for car insurance. You pay 1000 for rent etc etc. Things really aren't as expensive but then again all depends where your coming from.. Im in South FL renting for less than 700 in a community condo i can't complain.
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