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Old 11-05-2012, 02:24 PM
 
5 posts, read 6,387 times
Reputation: 11

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Hello,

My husband and I are relocating to the Jacksonville area in early spring. We are aware that property insurance is expensive and that State Farm has requested another increase. We also notice there are many short-sales on the market. Are these the result of expensive property insurance? Has the cost seriously affected you, or been enough of a concern that you have considered moving out of state? Thank you for your help and input.
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Old 11-05-2012, 04:24 PM
 
Location: On the banks of the St Johns River
3,863 posts, read 9,537,931 times
Reputation: 3446
Haven't you heard of the recent housing crisis? Recession? Property insurance costs have nothing to do with foreclosures or short sales. And what makes you think that all the short sellers and those foreclosed on, are moving out of state? Most are just re-locating to family owned (Mommie & Daddy's) or rental property and trying to make ends meet.
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Old 11-06-2012, 10:52 AM
 
702 posts, read 2,190,179 times
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Quote:
Originally Posted by madcapmagishion View Post
Haven't you heard of the recent housing crisis? Recession? Property insurance costs have nothing to do with foreclosures or short sales.
Exactly.
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Old 11-07-2012, 10:42 AM
 
5 posts, read 6,387 times
Reputation: 11
Sorry. I only wanted to know if property taxes were a serious issue.
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Old 11-07-2012, 10:44 AM
 
Location: On the banks of the St Johns River
3,863 posts, read 9,537,931 times
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Quote:
Originally Posted by KonaBrze View Post
Sorry. I only wanted to know if property taxes were a serious issue.
No!
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Old 11-10-2012, 04:58 PM
 
Location: Ponte Vedra Beach FL
14,617 posts, read 21,559,638 times
Reputation: 6794
Quote:
Originally Posted by KonaBrze View Post
Sorry. I only wanted to know if property taxes were a serious issue.
Kind of depends where you're coming from. If you're coming from X - property tax may look expensive. If you're coming from Y - it might look cheap. It all depends on your perspective. Robyn
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Old 11-11-2012, 11:28 AM
 
5 posts, read 6,387 times
Reputation: 11
Default My Question Regarded Property Insurance

As the title says, our initial question was about property insurance, not property taxes. We lived in Florida for many years and moved due to a job transfer. At that time, property insurance was getting more difficult and expensive to maintain. Many of our friends in Sarasota did move out of state because they could not handle the expense. We want to return, and were considering the Jacksonville area, but read that State Farm had requested another rate increase. We asked our insurer where we live now and was told they do not write insurance in Florida anymore. Period. We love Florida and want to return, but wanted to get input from this forum what, exactly, your feelings were on this issue. Instead we got our head ripped off for asking, backed up by another comment, completely misreading our question. I'm not sure why I'm bothering adding this post, except to say that many people come to this forum to ask questions and get a feel for the niceness of the community. You represent Jacksonville when you respond. What we heard was loud and clear.
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Old 11-11-2012, 12:51 PM
 
Location: On the banks of the St Johns River
3,863 posts, read 9,537,931 times
Reputation: 3446
Quote:
Originally Posted by KonaBrze View Post
Hello, ...
We also notice there are many short-sales on the market. Are these the result of expensive property insurance?
And I answered ... "Haven't you heard of the recent housing crisis? Recession? Property insurance costs have nothing to do with foreclosures or short sales.

You then asked
Quote:
Originally Posted by KonaBrze View Post
Sorry. I only wanted to know if property taxes were a serious issue.
and I then answered ... No!

Sorry I didn't sugarcoat it for you!
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Old 11-11-2012, 02:18 PM
 
Location: Ponte Vedra Beach FL
14,617 posts, read 21,559,638 times
Reputation: 6794
Quote:
Originally Posted by KonaBrze View Post
As the title says, our initial question was about property insurance, not property taxes. We lived in Florida for many years and moved due to a job transfer. At that time, property insurance was getting more difficult and expensive to maintain. Many of our friends in Sarasota did move out of state because they could not handle the expense. We want to return, and were considering the Jacksonville area, but read that State Farm had requested another rate increase. We asked our insurer where we live now and was told they do not write insurance in Florida anymore. Period. We love Florida and want to return, but wanted to get input from this forum what, exactly, your feelings were on this issue. Instead we got our head ripped off for asking, backed up by another comment, completely misreading our question. I'm not sure why I'm bothering adding this post, except to say that many people come to this forum to ask questions and get a feel for the niceness of the community. You represent Jacksonville when you respond. What we heard was loud and clear.
Well in one message you asked about property insurance - in another message you asked about property taxes. Regarding property insurance - it is very difficult (if not impossible) to get windstorm coverage (which you basically have to have) from a decent company that will be left standing after a fair-sized storm (Citizens - the state pool - is now the largest insurer in the state - but is trying to dump a fair number of its policies on new untested small companies). There are also pretty large windstorm deductibles. Flood insurance is courtesy of the federal flood insurance program (subsidized). Exactly what you might pay depends on the location of the property and the age/condition of the property and how it was built. Robyn
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Old 11-12-2012, 06:29 AM
 
Location: Jacksonville, Fl.
139 posts, read 411,016 times
Reputation: 134
Hi KonaBrze,

Sorry about the cold/impersonal responses earlier, seems some of us have their panties in a wad. I have State Farm and yes it's expensive compared to other places I have lived. I have shopped around and the other companies offering insurance in Jacksonville require modifications to my older home that aren't practical until the time comes to re-roof. When that time comes I will be seriously shopping.

Can't offer any insight about the short-sales, the market here is flooded with vacant homes from ocean front to my neighborhood. I'm no expert but one observation of mine is folks are re-evaluating the need for larger homes. I do have friends who have lost their homes (along with their jobs, credit and health ins.) to the slower than average economy here. I'll add that's my personal observation and I'm in the construction industry.

About moving out of state, I know one person who has and he's talking about coming back already. Seems north Fl has some kind of spell on outdoor oriented folks. There's just so much water and woods here to escape to and it's always close. We rank the top rung of the ladder when it comes to parks, forests and preserves. Pretty good bang for the buck if you're an out of the boxer.

Hope that helps, we're also famous for our 'southern hospitality!'
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