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So would North Port be a better place to move than Sarasota?
I've been doing the research for about the last 5 years becasue since I was 8 years old (now 43) I've been going to Florida. Sarasota has really changed and the prices are exstreamly high but it's one of the nicest areas. It all comes down to supply and demand. I liked North Port a couple years ago because i saw that the grouth was going well and they were trying to build a decent envirement for the upper middle class and cleaning up the trailer parks. They seem to be in a stand still right now because it was starting to get over loaded. I was just down in Cape Coaral a couple of weeks ago and they seem to be in the same boat. Ft. Myers is looking dirty and the beaches were starting to look like the Jersey shore. There seems to be more work in Ft. Myers but the schools are lacking substance. Remember, the last thing you want to hear when your retiring is there raising your taxes for new schools. Sarasota companies are paying less than other areas in Florida even though they are charging more for service than in upstate NY. Prices have trippled down there but the companies are telling me that it's cheaper than living in NY but there very wrong! You can't buy anything decent in Sarasota under 500 K. West Palm beach is the same.
If I could find a decent offer Autin Texas would be the place for me. The weather is great, dry heat and the house that sells for 300 K in Florida would be 175 K in Austin. Crime is half of Florida's plus the schools are great with a lot of parents involvement. I've never seen so many parents come to a highschool Baseball game like I did in Texas. They even charge to enter the games there because you get about 200 people to a game and Football is in the thousands that show. Like Florida the people are very pleasant and will talk to you. The people on the east coast are always a lot more friendlier than the west coast and that's a fact! I worked in Califorinia for a year and Arizonia and after a while you see that there's nothing like the east coast community's.
I totally disagree with the comment that there's nothing decent in Sarasota below 500K. And the comment about jobs. There are plenty of clean, decent places below that mark. At that higher limit you're talking about huge places behind walled gates. Granted, it's higher than the surrounding areas, but look in the 250-300K area and you will find nice places. As anywhere, you need to weed out some overpriced inventory and do your homework, but they are there. As for the job situation, I can only speak for my family, and both my son and myself (husband is retired) were making more money there than where we now live in Missouri. I love Sarasota and miss it terribly, I did NOT want to leave but was overruled by family. I will be baaack.....
I gotta agre with Sunshine Girl, right now there plenty of good houses in good areas for WELL under 500K, houses in my area....3-2-2 approx 2000SF, pool, new kitchen, double lot 325K If you look around you will find what you want at a good price. Especially right now and at least for another 6 mos.
Kmtjss is also 100% re Ft. Meyers. I was down there a few weeks ago yuch!
I totally disagree with the comment that there's nothing decent in Sarasota below 500K. And the comment about jobs. There are plenty of clean, decent places below that mark. At that higher limit you're talking about huge places behind walled gates. Granted, it's higher than the surrounding areas, but look in the 250-300K area and you will find nice places. As anywhere, you need to weed out some overpriced inventory and do your homework, but they are there. As for the job situation, I can only speak for my family, and both my son and myself (husband is retired) were making more money there than where we now live in Missouri. I love Sarasota and miss it terribly, I did NOT want to leave but was overruled by family. I will be baaack.....
I'm sure your right you really have to do your research. I'm just a little discouraged with the Job market and the cost of living. The cost of a home doesn't compare to what they are paying. The cost of living in upstate NY is about the same as Sarasota. In Upstate I was making 75K a year. Down there they are offering 45 K a year with less benifits. That's not the same. I was offered the same money if I wanted to live in Miami. It's just more digging and searching to find the right spot.
I agree, you can find it if you look. It is a matter of what you are willing to sacrifice!! It appears that you have done some research,ktmjss, on the economy!!! That aspect hasn't changed in the ten yrs I have been here. I am speaking from an electricians point of view!!! I wish I could be as optimistic as others but we all are starting to feel the pinch who are in the construction industry. This isn't going to get better before it gets worse!! My point of view!!!!!! Oh and by the way you can now get some good trailers down here for in the low 80's to high 100's now!!! Of course those would have a view of the intercoastals or maybe even a lovely lake. That is water front property to the developers here!!!
I have lived in North Port for 3 years, and have two boys, 6 and 12. We live off Cranberry Road and my boys have friends in the neighborhood and love the schools (so do I). I bought before the pricing skyrocketed so even with the drop in prices i am still ahead of the game. Right now prices seem to be pretty reasonable. My taxes aren't bad - I paid $2600 for the year , $1200 for insurance and yes we have well water - so we buy bottled for drinking cooking etc. - Glad i read this post - didn't know about the possibility of being "forced to switch to city water" - not that i'd mind the water but not the price tag!
We are originally from NJ - but lived in Hawaii for last 10 years and moved here because we have some family in area and couldn't afford to buy on Maui.
North Port is growing every day and we have great access to 75 so it is only a couple hour drive to anywhere you want to go in FL - so we are definately HAPPY with the area... schools etc. - If i had to do it all over again - I would pick North Port again...
This will fly against the other opinions. North Port exploded in 2003 to 2006 and continues to grow. The residential construction far outpaced commercial so you had a lopsided growth curve. The commercial sector is starting to catch up. A new Home Depot, Wal Mart are already in place on Rte 41. There are many professional suites nearing completion which will be a good draw for Doctors, lawyers and candlestick makers. The growth in population is more than capable of supporting this. A super target is being built at Price and Toledo Blade. There is also a huge 300,000SF mall being constructed at Sumter and Price. This mall will have national retailers and high end restaurants. The road widening process is already under way on Sumter Blvd. It will become a 4 lane North/South corridor. Currently the bridges on I 75 are being widened to accomodate another lane on the North and Southbound side of the interstate.
Several new Schools have been built and more are under construction. North Port is experiencing typical growing pains. The kind that are just starting in the Carolinas and Tennesse. Yes it is starting up there too, unless of course, you move up into the hills. The speculators have gone and the market took a 20 - 30% reduction in prices over the last 2 years. Many of the wannabe homebuilders, mortgage brokers et al have gone bust or moved on. Impact fees for new construction will be $20,000 by Nov 07. This will slow down new construction enough to gid rid of the backlog inventory of houses. In 2005 the City of North Port was issuing an average of 380 new construction permits per month now it is down to 35 per month.
Although up drastically as a percentage( statistical anomoly) foreclosures are having a minimal effect on the market. BTW DO NOT buy a foreclosure unless you know your way around these 100%. More often than not there are substantial leins on the property other than the first mortgage. Also alot of those houses were "spec built" using the cheapest material possible.
If you do buy in North Port make sure that you buy a house with existing City water and sewer. The well water down here stinks, literally and physically. If you do not buy with City water and sewer then start saving your money for when the city requires you to "hook up" to their system. This will cost you about $15,000 to $20,000 and the City will assess your house, (can you say lein) for that amount.
Currently you have a buyers market for another 6 to 12 months. My guess is closer to 6mos. A newer well built 1500SF house can be purchased for about 200 to 225K. THere are new houses out there for less but the quality of construction and materials are questionable. Older houses of the same size can be purchased for well under 200K. With credit scores of 680 or higher you can obtain a 30yr fixed rate mortgage under 6%. That is CHEAP money. HOI on a 200K house would be about 1500 and taxes (right now) would be $3000. The state legislature is planning immenent tax relief and there will be some sort of downward modification. Some plans call for the elimination of residential homeowner property taxes....I doubt that one will pass.
Plain and simple, that 80K house in 2001 which was 200K in 2005 is now 160K. It will NEVER be 80K again. Mortgage rates are low, compared to 2001 taxes are high, compared nationally thay are cheap. Cost of living here is about half that in the northeast, upper midwest. The unemployment rate for Sarasota county is under 3%. Put the emotions aside and do the math.....it is a nobrainer.
I appraise real estate in the North Port/Sarasota/Venice area and I am more than a little tired of all the negative, inaccurate and total BS postings that are being placed on this website. My data/opinion is based on actual reasearch of properties, contact with local builders, architects and City officials. If you want more accuarate info, please feel free to PM.
Unfortunately I do read the local rag. Fortunately I have learned that statistics don't lie but liars use statistics. If you were to read past the "shock" value of the headline, our local rag does love anything potentially negetive, you would have read this paragraph near the end of the story
"The increases are statistically large because they started from a low base, but foreclosures locally and nationally are building as subprime buyers are driven from the market." Loosely translated this column was/is a statistical anomoly.
I do not have a political agenda and the data I use is unbiased and not slanted to produce a desired result. The fee for an appraisal is the same if the prices go up or down, doesn't bother me either way. We are more than half way through this slump.
Re-read what I wrote earlier, double the homestead exemption? a roll back to 2003 tax levels? cheap mort $$ The backlog of inventory is slowly being reduced. Resedential construction down, commercial construction up, supply currently exceeds demand but will soon approach balance. You can wish in one hand and spit in the other but the MARKET will determine the value of property, not you, not me nor the loacal rags agenda. Property values went through the roof in 2003 - 2005 and have taken a huge correction in the last two years. If you average out the increase Vs the decreases you will find an annual appreciation rate of 8-12% per year over the last 6 years which is TOTALLY within normal appreciation rates for a growing state, if not on the low side. Every market has cyclical ups and downs, NYSE, NASDAQ etc. Just remember what Mark Twain wrote many years ago. " buy land, they ain't making anymore of it"
The window is 6 to 12 months and if you are thinking of buying I would get on the train now before it pulls out.
Again, shot, precise and accurate. I'm thinking we must know each other. tim at great american mtg.
We are also thinking very seriously of moving to Northport. Fl from Minneapolis, MN. We are making a trip down there within a couple weeks. We already own a home in Orlando but want to live in the Sarasota area.
I think this is a good time to buy there!
Just remember--it is a buyers market! Don't let a realtor "buffalo" you! And they try! Don't buy too high...so much inventory.
For the retirees, the mobile home parks on 41 , to the north of the city is still a great buy . We live in La Casa , and there are lot's of homes on the market now . The reason so many are on the market , is because most people are orginals from when it was established in the 80's . Most of these people are passing on or getting older and moving back to children . The fixed incomes are catching up now . Insurance took a big hit . It is still available , but at a higher rate . We have great amenities and lot's to do here . Even city water and sewers put in . Still a good life for the retiree that wants to kick back and relax .
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Ex-sarasotan
