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Old 01-15-2014, 07:58 PM
 
Location: San Diego
306 posts, read 657,276 times
Reputation: 263

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As someone on the west coast (Los Angeles) I cannot understand why homes are listed at throw away prices in places like Boca Raton...

Example: here is a 2317 sqft home listed at $149,000. Similar home in Irvine, California would be close to $1 million.

5245 Windsor Parke Dr, Boca Raton, FL 33496 - Home For Sale and Real Estate Listing - realtor.com®

Trying to understand the logic here... is it the economy? I am told Boca Raton is a very nice place to live by someone who lived in the Miami area for years. So why are homes so cheap? What is the catch? Is the whole area sinking 2 inches a year and bound to be underwater in about 10 years? Or are there alligators roaming the streets and periodically invade homes and eat a few people along the way? LOL!
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Old 01-15-2014, 09:03 PM
 
355 posts, read 913,244 times
Reputation: 470
Mandatory Social Membership at $60,000 + Annual Dues of at least $13k on top of the $400+ HOA + Monthly Reserve assesments. Seems like a tough sell. Polo Club Membership Info « The Polo Club of Boca Raton presented by Tripta Chawla

Not much value for a very outdated townhouse.
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Old 01-15-2014, 09:36 PM
 
Location: Tampa Bay Area Florida
7,937 posts, read 20,381,405 times
Reputation: 2027
Quote:
Originally Posted by redrocket2 View Post
As someone on the west coast (Los Angeles) I cannot understand why homes are listed at throw away prices in places like Boca Raton...

Example: here is a 2317 sqft home listed at $149,000. Similar home in Irvine, California would be close to $1 million.

5245 Windsor Parke Dr, Boca Raton, FL 33496 - Home For Sale and Real Estate Listing - realtor.com®

Trying to understand the logic here... is it the economy? I am told Boca Raton is a very nice place to live by someone who lived in the Miami area for years. So why are homes so cheap? What is the catch? Is the whole area sinking 2 inches a year and bound to be underwater in about 10 years? Or are there alligators roaming the streets and periodically invade homes and eat a few people along the way? LOL!
this is also a townhome and not a single family...our friends pay through the you know what between their dues and memberships and HOA its horrible..
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Old 01-16-2014, 04:58 AM
 
1,759 posts, read 2,164,895 times
Reputation: 742
Quote:
Originally Posted by redrocket2 View Post
As someone on the west coast (Los Angeles) I cannot understand why homes are listed at throw away prices in places like Boca Raton...

Example: here is a 2317 sqft home listed at $149,000. Similar home in Irvine, California would be close to $1 million.

5245 Windsor Parke Dr, Boca Raton, FL 33496 - Home For Sale and Real Estate Listing - realtor.com®

Trying to understand the logic here... is it the economy? I am told Boca Raton is a very nice place to live by someone who lived in the Miami area for years. So why are homes so cheap? What is the catch? Is the whole area sinking 2 inches a year and bound to be underwater in about 10 years? Or are there alligators roaming the streets and periodically invade homes and eat a few people along the way? LOL!

And probably a fake ad.
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Old 01-16-2014, 05:29 AM
 
355 posts, read 913,244 times
Reputation: 470
No, it's a real listing in the backend of MLS
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Old 01-16-2014, 07:02 AM
 
17,291 posts, read 29,402,468 times
Reputation: 8691
Such unbelievable deals in nice gated neighborhoods are mandatory club membership communities.

Lots of communities instituted mandatory golf or country club memberships thinking it would help the community hold value, but the opposite is generally true, and there is often an inverse relationship between HOA dues and home value.



BTW: Thankfully, sinkholes are rare on the SE coast of Florida. Central/Central West Florida tends to be ground zero for that sort of thing.
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Old 01-16-2014, 07:22 AM
 
11,642 posts, read 23,909,503 times
Reputation: 12274
Expect to pay around $350-$400 for a single family home that is a 3/2 in a neighborhood without crazy membership fees. The ridiculous membership fees in some of the neighborhoods in Boca really hold down prices.

Boca is a nice place to live.
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Old 01-16-2014, 07:41 AM
 
Location: Palm Beach County
1,708 posts, read 4,399,602 times
Reputation: 639
There's condo's in Boca West for $3000 but there's 70k in equity and very high fees.

The days of the "too good to be true" steals are gone.
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Old 01-16-2014, 11:01 AM
 
Location: San Diego
306 posts, read 657,276 times
Reputation: 263
$350k is still good for a single family 3/2 near the beach as a similar property here in Orange County that close to the beach would cost $1 million or more. Would there be a necessity to take flood insurance there? If so is it prohibitively expensive?

How is the market for IT jobs in that area?
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Old 01-16-2014, 03:05 PM
 
11,642 posts, read 23,909,503 times
Reputation: 12274
Quote:
Originally Posted by redrocket2 View Post
$350k is still good for a single family 3/2 near the beach as a similar property here in Orange County that close to the beach would cost $1 million or more. Would there be a necessity to take flood insurance there? If so is it prohibitively expensive?

How is the market for IT jobs in that area?
$350K for a small 3/2. Not necessarily near the beach.
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