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Old 06-21-2007, 10:13 AM
 
18 posts, read 44,360 times
Reputation: 22

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I thoroughly enjoyed and gained some knowledge from all your posts. I found them to be honest, sincere and without the sarcastic, pessimistic replies in other threads.
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Old 06-21-2007, 10:48 AM
 
960 posts, read 1,166,783 times
Reputation: 409
Is there room for one more comment? If you are considering a move to North Port or the Sarasota County area in general and you are not retired and/or wealthy, keep this point in mind:
Have a substantial job (making at least $80,000 annually) already lined up. You may be able to find an entry level house in a somewhat decent area. Some areas where you could possibly afford a house ($200,000-250,000range), are in transition. RE speculators have changed many neighborhood landscapes, due to their inability to quickly sell their investment properties for profit. Many are renting their unsold homes, which brings "transient" dwellers, as well as multiple families living in one home. The result is leading to a less than cohesive community with drug and criminal activity.
Don't move here if you are a "Blue Collar" worker. The reasons for that statement are too numerous to mention. Best of luck to those considering moving to North Port and the surrounding areas.
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Old 06-21-2007, 01:38 PM
 
1 posts, read 4,049 times
Reputation: 11
Default Soon to be "new" North Port resident

My husband and I are moving to North Port in a few weeks. We will be living in Talon Bay subdivision. Some of the posts to this thread have me a bit concerned about our decision to move to North Port. Does anyone know anything about Talon Bay? Is this an O.K. area? It seemed to be when we visited. We have 2 small children, 18 months and 4 yrs.
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Old 06-21-2007, 02:38 PM
 
Location: North Port, Florida
774 posts, read 1,689,213 times
Reputation: 842
If you review the post on this forum alone, you'll see that positive comments about North Port outnumber negative ones by 5 to 1.
Everyone is entited to their own opinion. That doesn't mean you'll agree with it.
The times I've driven around the Talon Bay area would make me think it would be a good place to live and raise a family.

Good luck on your move
Mikey
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Old 06-21-2007, 02:54 PM
 
193 posts, read 422,462 times
Reputation: 48
Quote:
Originally Posted by Carbondated View Post
Is there room for one more comment? If you are considering a move to North Port or the Sarasota County area in general and you are not retired and/or wealthy, keep this point in mind:
Have a substantial job (making at least $80,000 annually) already lined up. You may be able to find an entry level house in a somewhat decent area. Some areas where you could possibly afford a house ($200,000-250,000range), are in transition. RE speculators have changed many neighborhood landscapes, due to their inability to quickly sell their investment properties for profit. Many are renting their unsold homes, which brings "transient" dwellers, as well as multiple families living in one home. The result is leading to a less than cohesive community with drug and criminal activity.
Don't move here if you are a "Blue Collar" worker. The reasons for that statement are too numerous to mention. Best of luck to those considering moving to North Port and the surrounding areas.
$80,000 Yikes! I don't know too many people making that down here. Actually I don't know any. But I do know of a 3-2-2 with a caged pool and nice landscaping selling for 175K in a very nice area of North Port as well as a bunch of similar houses without a pool selling for 140K to 170K a similar house in 2005 would be around 250K. Many of these houses are close to Heron Creek where homes sell for 400K to over 1 mil. Granted Heron Creek is a gated community but I don't think people paying 400K to 1MIL for a house would move there if the surrounding area was as you said. Their kids go to the same schools as the kids whose parents are renting. As to multiple families living in one home..... there seems to be a lot more to that comment than meets the eye.

I have many rentals down there ( None are for sale) and am EXREMELY selective as to who I rent to. I run credit, employment and crimminal checks on all potential tenants. You have to. It is better to leave a house empty than to rent to transients, the cost of the damage they do can far exceed a few months rent. Most of my tenants have been with me 5 years or more, I do right by them, repairs maintenance etc. and they do right by me. I never have to chase the rent. This is not to say that you are totally wrong. As with any area there are always a few bad apples but you are painting with an extremely broad brush.

As to the speculators, if they bought before 2004 they have already sold and moved on. Those who bought in 2005 with exotic mortgages 110% financing will soon go bust. The rents, averaging 1K for a 3-2-2 do not support a 250K mortgage let alone the mortgage, principal and taxes. And when they do go bust or sell short, it will be an opportunity for buyers to obtain a newer house for less than current market values. That sword cuts both ways.
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Old 06-22-2007, 06:38 AM
 
960 posts, read 1,166,783 times
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"But I do know of a 3-2-2 with a caged pool and nice landscaping selling for 175K in a very nice area of North Port as well as a bunch of similar houses without a pool selling for 140K to 170K.".
What's the percentage of those houses needing major repairs? New roof, replumb etc.? What was their market value 5 years ago, before speculators decided to play ball with the "American Dream"?

"Granted Heron Creek is a gated community but I don't think people paying 400K to 1MIL for a house would move there if the surrounding area was as you said. Their kids go to the same schools as the kids whose parents are renting."
IMHO those able to afford a Heron Creek gated community, have much less interest in what goes on outside their gates, then making sure "it" doesn't get inside their gates. As for their children attending the same schools, thats a sweeping statement. I wonder who attends the areas private schools? I don't think that would be the renters children, do you?

"I have many rentals down there ( None are for sale) and am EXREMELY selective as to who I rent to. I run credit, employment and crimminal checks on all potential tenants. You have to. It is better to leave a house empty than to rent to transients, the cost of the damage they do can far exceed a few months rent. Most of my tenants have been with me 5 years or more, I do right by them, repairs maintenance etc. and they do right by me. I never have to chase the rent."
Well that's good to hear that you are a responsible landlord. But care to venture a guess on whether that makes you the "norm" or the "exception"?
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Old 06-22-2007, 08:14 AM
 
193 posts, read 422,462 times
Reputation: 48
"But I do know of a 3-2-2 with a caged pool and nice landscaping selling for 175K in a very nice area of North Port as well as a bunch of similar houses without a pool selling for 140K to 170K.".
What's the percentage of those houses needing major repairs? New roof, replumb etc.? What was their market value 5 years ago, before speculators decided to play ball with the "American Dream"?



OK, first, this is NOT an attack, just trying to shed a little light here. Item # 1 A 3-2-2 1200 +/- SF Concrete block and stucco. New roof in 2005, large shed in backyard, (frame not alum) City water located on a lot that borders a natural preserve, freesh paint in 2006, tiled throughout, even the closets.

Item # 2 A 3-2 with large carport, terrazo floors, new roof in 2003, new AC in 2006(compressor and handler) 1450 +/- SF City water, fruit trees fresh paint this year.

Neither house needs anything, they are in good shape, I take good care of my investments. After the first of the year (tax reasons) I will sell you either one of them for 170K and I will pay the closing costs. This offer is good for 90 days only In 2005 they were over 225K 5 years ago a lot less, current price based on an annualized appreciation rate of 8% over 5 years. No pressure to buy no need to sell.


I wonder who attends the areas private schools? I don't think that would be the renters children, do you?

I honestly don't know. I don't even know if there are any private schools down there yet.


Well that's good to hear that you are a responsible landlord. But care to venture a guess on whether that makes you the "norm" or the "exception"?

Thank you. My guess would be that most of the landlords will protect and maintain their investment. To be sure, there are some dirtbag landlords out there but I would like to think that they are the minority.

Carbondated, there ARE bargains out there and history has shown that in the long haul RE only goes one way. A few years from now and these prices will appear cheap.

Good Luck
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Old 06-22-2007, 02:51 PM
 
120 posts, read 106,189 times
Reputation: 23
Quote:
Originally Posted by lisalisa4444 View Post
Did you read the paper yesterday? North Port's forclosure rate has doubled in the last year! It may be a buyers market but not one I would want to buy in because you may not have much luck selling it for what you paid today. You and I both know prices are homes are still going wayyyyyyy down!
Just a little bit of side info. Here in Lee county (which is very close to North Port) 70% of the houses that meet foreclosure are unoccupied. The investors and speculators are getting hit the most by foreclosure. I would say that about 75% of the houses in forclosure down here have never been occupied by residents. Also, in Lee county, the median price for a home has actually gone up for four of the past five months. Its not a huge increase but it's not "wayyyyyy down." Sarasota County has performed slightly better than Lee county as far as real estate, so I would imagine that the real estate market is starting to stabalize there as well.
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Old 06-25-2007, 02:02 PM
 
Location: Tennessee
4 posts, read 8,789 times
Reputation: 10
We would like an honest and educated opinion on the North Port area. We are looking at some houses in the Duck Creek area or anything that has open water access for boating, but yes we hear lots of pros and cons. Today we were with a realtor in the Englewood area and she was very negative about the Duck Creek (North Port area in general) area. She said that properties did not have good water access and that the properties would not be a good long term investment. Please let us know if you can advice us more on this area. Realistically we have to also look at the resellability in case of something unforeseen causing us to have to move or whatever.
Thanks for your help and may God Bless our homes and families,

Holly
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Old 06-25-2007, 02:08 PM
 
120 posts, read 106,189 times
Reputation: 23
I would definately stay away from North Port for boating. If you are looking to buy the house as a good investment, I would reconsider also because prices may go up but they won't skyrocket.
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