looking to move to Tampa... (Miami, Dunedin: short sales, real estate, apartment complex)

[dahlsteinm]

Hello...
I am 25 years old and looking to move to Tampa in the next few months. I am a Registered Nurse, and I am looking to work at Tampa General Hospital. It seems they have quite a few jobs that I more than qualify for, and I love the area every time I am there. I will be visiting again next month. However, I am curious about a few things:
1. I am debating between renting and buying. It seems the housing market is great right now, and there are tons of foreclosures that may offer a great opportunity. Any opinions?
2. Is it a good place for a young single female, no kids? I love to shop, go to the beach, hang out with friends...normal stuff
3. What communities are somewhat close to that hospital and relatively safe (I realize it's a city, crime is to be expected)? I would prefer to only have a 20-25minute commute if that is even possible.
4. I have read a few things about flood insurance and things like that...what areas need that? Are those areas close to the hospital?
5.I don't want to sound racist asking this question but I feel like working in the health care field I kind of have to. Can you get by just speaking english in Tampa?

Any input would be greatly appreciated. I currently live in Columbia, MO...a college town and I work at a hospital much like TGH, just a little smaller. I am ready for a life change. I have some family that lives in Dunedin, but I don't want them to persuade me alone, I want to make sure this is the right place for me to be!

[housingcrashsurvivor]

Originally Posted by dahlsteinm

Can you get by just speaking english in Tampa?

¿Qué?

[kyle19125]

Originally Posted by dahlsteinm

Hello...
I am 25 years old and looking to move to Tampa in the next few months. I am a Registered Nurse, and I am looking to work at Tampa General Hospital. It seems they have quite a few jobs that I more than qualify for, and I love the area every time I am there. I will be visiting again next month. However, I am curious about a few things:
1. I am debating between renting and buying. It seems the housing market is great right now, and there are tons of foreclosures that may offer a great opportunity. Any opinions?
2. Is it a good place for a young single female, no kids? I love to shop, go to the beach, hang out with friends...normal stuff
3. What communities are somewhat close to that hospital and relatively safe (I realize it's a city, crime is to be expected)? I would prefer to only have a 20-25minute commute if that is even possible.
4. I have read a few things about flood insurance and things like that...what areas need that? Are those areas close to the hospital?
5.I don't want to sound racist asking this question but I feel like working in the health care field I kind of have to. Can you get by just speaking english in Tampa?

Any input would be greatly appreciated. I currently live in Columbia, MO...a college town and I work at a hospital much like TGH, just a little smaller. I am ready for a life change. I have some family that lives in Dunedin, but I don't want them to persuade me alone, I want to make sure this is the right place for me to be!

Now is the time to buy as the market appears to have bottomed out in the Tampa Bay area. As a young single, South Tampa is your best bet.

http://en.wikipedia.org/wiki/Hyde_Park,_Tampa
Hyde Park Village :: Information :: 742 S. Village Circle, FL, 33606 :: 813-251-3500
International Plaza and Bay Street: About The Mall

The hospital would be well within a 30 minute commute of that area. Having no idea of your budget I wouldn't be able to narrow any further as housing cost varies by neighborhood. I'm unaware of any flood insurance issues in South Tampa other than the more expensive bayside neighborhoods. In terms of your question regarding language, Tampa is no where near Miami in terms of predominance of the Spanish language. You'll be just fine with English as your only language.

[FloridaKash]

Originally Posted by kyle19125

Now is the time to buy as the market appears to have bottomed out in the Tampa Bay area.

I would have to disagree. I have seen a couple reports stating that they believe the Tampa Bay market will drop another 9% through 3rd Quarter of 2011.

I have been watching homes. With that said, I would imagine South Tampa is in an area where the market is less likely to drop any further. Other areas.... watch out.

[Pragmaticus]

Originally Posted by housingcrashsurvivor

¿Qué?

Exactamente !

[gypsychic]

Originally Posted by FloridaKash

I would have to disagree. I have seen a couple reports stating that they believe the Tampa Bay market will drop another 9% through 3rd Quarter of 2011.

I have been watching homes. With that said, I would imagine South Tampa is in an area where the market is less likely to drop any further. Other areas.... watch out.

As always, real estate is local. South Tampa, as you say, is not dropping. There are other nice areas probably not dropping anymore either. There will always be neighborhoods that will see further drops, however, they may not be the ones you want to live in. Just keep an eye on where you want to live and not focus so much on the percentage of dropping. After all, that is just a projection, and may not happen. For every report that say things will drop, you will find another that says they will go up. Use your own instincts and buy when you find the home you love and can afford.

And to the OP, Kyle gave good advice. For a young single, south Tampa is the way to go. Good luck to you!

[dahlsteinm]

I am looking to spend probably around $150,000. I have been browsing real estate quite frequently, but it helps to search and make sure I can afford something if I know what areas to primarily look in.

[kyle19125]

Originally Posted by dahlsteinm

I am looking to spend probably around $150,000. I have been browsing real estate quite frequently, but it helps to search and make sure I can afford something if I know what areas to primarily look in.

In that price range you are most likely looking at condominiums. It's a bit of a challenge finding a condo where you can feel your investment is protected. If you follow these criteria you'll do just fine.

*Avoid communities with a large number of properties listed (or previously listed) as Short Sales or Foreclosures. Trulia and Zillow list current and recent sales.

* Communities with high concentrations of defaults are lacking in reserve capital as they're not collecting monthly fees from those individuals. As a result overall maintenance is not being kept up and as major repairs become needed, those paying their fees are hit with large additional assessments to cover the cost.

* Avoid Condo Conversions. Condo Conversions are former rental communities that were converted to condos during the early to mid-2000s to help keep pace with the demand for condo buyers. The problem is that a vast majority were purchased at peak-market prices ($150,000-$250,000 for 2 bdrm units), but after the "bubble burst" many fell to $40,000 to $60,000. Many owners defaulted, walked away, or moved out and rented them since selling would be a economic bloodbath. Purchasing a devalued unit is a nightmare as many are in poor shape due to neglect and the community themselves are often in poor shape as well. Worth mentioning is the fact that the construction quality of these former rental units is poor as well. Wondering how to identify a Condo Conversion? If it looks like a generic 5 to 7 year old apartment complex, it most likely was.

* Look for communities that were actually built as condominiums. Many will argue that newer builds are higher quality but I would recommend older builds, especially pre-mid 1980s where they were actually built utilizing concrete block versus "matchstick" construction. Besides, do you really want to hear your neighbors conversations (or worse)?

Good luck!

[BucFan]

Harbor Island has a few nice looking communities and very close to TGH. I'd hold off on buying until you're absolutely sure Tampa is where you want to be. Once you start at TGH, you'll likely meet people from work that will most likely become your friends. Like any city, always be careful wherever you go and travel with others, especially at night. Hyde Park area is also nice and a very short trip to TGH. From one nurse (I'm retired) to another, good luck. Hope you enjoy life here. I have.

[craigm1841]

Originally Posted by kyle19125

Now is the time to buy as the market appears to have bottomed out in the Tampa Bay area. As a young single, South Tampa is your best bet.

telling a 25 year old to buy a home in a city they have no clue about is outrageous. I moved here when I was 25 and have moved twice as I keep finding places better suited for me. I am 27 now.

I bought and still have a home in GA, which I haven't seen in two years and am paying out of pocket for a chunk of the mortgage each month because I thought I was going to stay in Savannah. I was young and stupid.

150K wont get you a lot in Tampa anyway unless you want to live in the burbs in a 50 year old cynderblock home in an older neighborhood. I would suggest moving here and living here for AT LEAST a year before you buy. Some people love tampa, some people hate it. I know working professionals that move here for a job and are GONE within a year because they hate the mentality of the people down here. This happens with a number of people from rural/midwest areas from what I have seen personally.

There are too many things to take into consideration when doing something like buying a home. how long you are willing to commute each day, what your interests are, do you like nightlife, can you afford association fees in a neighborhood or condo, tolls if you live in the northern or eastern tampa burbs. What part of town will you like more? South Tampa/hyde park, downtown, westshore, st pete, clearwater/beaches, ybor, etc. If you love the beach, Valrico would be a horrible option for you. If you love orlando/disney, st pete would be a horrible option for you. If you love south tampa, North tampa, st pete, palm harbor, would be a horrible option for you. The tampa/st pete metro area is a large area with millions of people and has some substantial diversity from place to place. Are you white? black? hispanic? single? married? do you like nightlife? do you like happy hours? Are you into fitness? are you more creative? are you trend oriented? are you more traditional?

These are all questions that only you know and I would personally take each thing and then some into consideration when buying a place.

I take that all into consideration when RENTING a place. I didnt take that into account when i bought my home in GA, so even if i moved back, i wouldnt live in my home.

I would be more then happy to provide substantial information on apartments in the Tampa area as i have toured a large number of communites and spent time in all areas of the metro area in my past 2 years here.