Interested in buying in West Palm Beach (Miami, Orlando: real estate, rentals)

[new2wpb]

Hello, I have been living and working in West Palm Beach area for the past year and 1/2. Now I am interested in purchasing a property in this area since I fell in love with the area. I have been looking for the past few months and narrowed it down to Village of Palm Beach Lakes area. It seems to be a nice area and inexpensive for a person like myself. In particular I am looking at properties in Lakes of Laguna which is in the villages. I pulled up the following properties below so I can get input on weather this is a good move to make? I would like to especially hear from people who live or lived in the villages.

Lakes of Laguna (http://tinyurl.com/lakesoflaguna - broken link)

[m5*]

I suggest that you change the title of the thread to something that may catch the eye of people living in or familiar with the area. Good luck!

[skylinet]

couldn't get the link to work, but that could just be me.
I live downtown WPB right now, I looked at that area before I chose here. It seemed nice and quiet and it's close to lots of restaurants and shopping.
Are you referring to the small patch of palm beach lakes between Okeechobee and 95? That's really the only area on PBL that's decent, (which is pretty much in the villages). There's some good values in there, lots of rentals in the area. Are you looking at the condos or the homes?

[Zinfindel25]

I am looking to buy in West Palm Beach, City Place area. This would be our second home since we still live and work in NYC. I like the decaffeinated feel of WPB as to the caffeinated pace and traffic of Fort Lauderdale and Miami. Would like to know what condos to stay away from since many of them have high HOA's and very low occupancy i.e, The Edge and South Towers. Both are very nice but it gives me pause since I don't want to get hit with an assessment b/c so many units are unsold. Thoughts? I would be open to going to Delray or Boca if the deals and location would be suitable. Just don't know the right buildings in those locations. My partner and I are in our early 50's so we're not interested in the "gay" scene. Sorry. Been there, done that. We just want to be around open, educated people like ourselves. Thanks. Don

[Retired in TN]

I lived in Lake Worth/West Palm Beach from '59 to 2006. "Escaped" to Tennessee. I have witnessed the growth and change (both good and not so good) over the years. The area along Village Blvd has what is listed above, However, it is surrounded by high crime areas such as Westgate and Tamarind Ave. Okeechobee Blvd is known in law enforcement as the Okeechobee Corridor - one of the highest crime areas in the county. Part is in the city limits and part is unincorporated. That area also floods is extreme rain. last happened within the past 6 -7 years (approximately).

I-95 is being widened (again) and there is no more room to do it again - gridlock. People drive like idiots, resulting in very high insurance costs (along with uninsured everywhere). NBC reported it to be the 3rd deadliest place in the U.S. to drive (Orlando is #1). It is #13 for violent crime, based on size.

Also, check the cost of living. Gas is the highest in Florida, hurricane insurance - if you can get it - is expensive and you risk being dropped at any time for any reason. Tax base is dropping like a rock partly due to economy. I still have a house down there I am renting until things change. My taxable value has dropped $190k in 2 years. I built in 2001 and will be luck if I break even when the time comes.

Remember that what you see on the Chamber of Commerce and travel sites can be misleading. If you watch CSI Miami, they always show the nice manicured homes (which seems to be the only place crime happens on the show). It does not show the areas where you want to carry a bazooka when you go out to get your morning paper.

The gangs are everywhere - you can thank past local leaders for sticking their heads in the sand for 15 years when cops tried to warn them. It wasn't until a baby got killed a couple of years ago that they formed a task force to deal with it. Currently 113 gangs with 9000 members in the county.

The moving industry did a study and found they are moving more people OUT of Florida than in. There's a clue.....

[skylinet]

Originally Posted by Zinfindel25

I am looking to buy in West Palm Beach, City Place area. This would be our second home since we still live and work in NYC. I like the decaffeinated feel of WPB as to the caffeinated pace and traffic of Fort Lauderdale and Miami. Would like to know what condos to stay away from since many of them have high HOA's and very low occupancy i.e, The Edge and South Towers. Both are very nice but it gives me pause since I don't want to get hit with an assessment b/c so many units are unsold. Thoughts? I would be open to going to Delray or Boca if the deals and location would be suitable. Just don't know the right buildings in those locations. My partner and I are in our early 50's so we're not interested in the "gay" scene. Sorry. Been there, done that. We just want to be around open, educated people like ourselves. Thanks. Don

IF you are concerned about high HOA's and low occupancy you may want to stay away from Downtown West Palm. While there are some very nice places to live, most of the buildings are over $400 a month for HOA's, and many were built during the boom time so there is pretty low occupancy rates. Lots of rental units as well.

Have you considered a townhome? You'll find lower HOA's and not as low occupancy rates (in most communities). Similar lifestyle, without the elevators. There are really only 2 nicer townhome communites in the Cityplace area though. If you go North to the Gardens or South to Delray/Boca area you will find plenty of different communities though.

[jim palm beach county]

I moved o Fl in 2002 from Va. What a mistake, I own one condo, one townhome, and a single family home in PBC the place from hell with crime, taxes, insurance, and FPL,

Fact proptery tax incresed this yr 2009 bills by 16.7 % they raised the millage rate to get this done. My new tax bill $4500.00 Property tax is to go up over 13% next yr.

Insurance is going up 10% a yr for the next 3 yrs my new insurance bill is $6500.00 on a home taxed at 177K

FPL has been approved for a 30 % increse in your power bill, average bill in PBC $200.00 a mo thats now means $260.00 a mo.

I would also suggest you read the book THE CONDOMINIUM CONCEPT before you buy anything with a conod or homeowners assoc, the law favors them not you they can and do steal your money by inflating the numbers and than take the excess funds and add them to the general fund and keep them, they law does not say what they have to do with excess funds, so your not getting a lower fee or your money back but a lot of that money disapears.

Fact 3 Palm Beach County commissioners are in PRISON.

I have decide to cut my loss and be gone from this crime ridden dishonest place from hell and move to TN, I might suggest you think twice before you buy real estate here.

[TriMT7]

Originally Posted by jim palm beach county

I moved o Fl in 2002 from Va. What a mistake, I own one condo, one townhome, and a single family home in PBC the place from hell with crime, taxes, insurance, and FPL,

Fact proptery tax incresed this yr 2009 bills by 16.7 % they raised the millage rate to get this done. My new tax bill $4500.00 Property tax is to go up over 13% next yr.

Insurance is going up 10% a yr for the next 3 yrs my new insurance bill is $6500.00 on a home taxed at 177K

FPL has been approved for a 30 % increse in your power bill, average bill in PBC $200.00 a mo thats now means $260.00 a mo.

I would also suggest you read the book THE CONDOMINIUM CONCEPT before you buy anything with a conod or homeowners assoc, the law favors them not you they can and do steal your money by inflating the numbers and than take the excess funds and add them to the general fund and keep them, they law does not say what they have to do with excess funds, so your not getting a lower fee or your money back but a lot of that money disapears.

Fact 3 Palm Beach County commissioners are in PRISON.

I have decide to cut my loss and be gone from this crime ridden dishonest place from hell and move to TN, I might suggest you think twice before you buy real estate here.

So.... basically you're feeling washed out because you bought at the height of the housing boom, gambled on quick real estate "investments" and lost.

Now you complain about crime (which is down since when you first thought about moving here), and obviously have your home insured with an awful company. Where on earth is your home located to be valued at 177k and have home owner's insurance at $6,500.00?! Directly on the ocean? That is WAYYY too much for what is obviously not a grand home.

I am seven blocks in from the intracoastal and do not pay anywhere NEAR that amount! Have you taken the initiative and shopped around for new insurance policies, you could most likely find something a lot cheaper, unless you live in an area serviced only by Citizens.

As for taxes, yes, millage rate went up, but assesed value went DOWN for most people, resulting in equal or net decrease for most, especially in West Palm Beach. If your assesed value did not go down, and you live in an area where you think it should have, as an investor you should have been first in line at the value adjustment board to make your case.

But fine, "walk away!" Your properties will be scooped up by real investors or first time home buyers.

This market has done one good thing, and that's shake out the lazy investors and wannabe landlords. Have fun in Tennessee. I'm sure you'll find something to gripe about there as well!

[jim palm beach county]

A reply to you is this I am not a investor or a flipper my home that is now taxed at 177k I paid 480 k for ... every place I own I lived in, I just pointed the simple facts. I am sorry your not able tosee the problems we have in PBC, untill we see the problem we cant even try to correct them so putting ones head in the sand in not the answer but informing people of the fact before they get bite might help them make a informed decision.

[TriMT7]

Originally Posted by jim palm beach county

A reply to you is this I am not a investor or a flipper my home that is now taxed at 177k I paid 480 k for ... every place I own I lived in, I just pointed the simple facts. I am sorry your not able tosee the problems we have in PBC, untill we see the problem we cant even try to correct them so putting ones head in the sand in not the answer but informing people of the fact before they get bite might help them make a informed decision.

If you're not an investor, why do you own a home, a condo, AND a townhouse?

Why haven't you addressed any of the other points I raised? Where are your properties located, and if you PAID 480k for your home and are being taxed at 177k, why are taxes suddenly NOW a problem for you? Obviously, in 2006, you would have been paying a LOT more taxes than you are now!

When was the last time you bothered to call an independent insurance agent to shop around for new rates on home owner's insurance? It's easier to whine about it than to take initiative, isn't it?


There are problems in every area, and especially in South Florida now post-bubble as people try to recover. Some of your advice (read condo documents) is helpful, but should be obvious to anyone. We routinely tell people on here the full scoop on taxes (budget 2% of value per year) and homeowner's insurance (shop around, shop around, shop around!).

The truth is, though, that you and many others will come onto these message boards where people are seeking genuine help, throw a grenade onto the threads and fill them with mis and disinformation, exaggerations, hyperbole.... and then disappear. How many times have we read people who say, "I just moved to X, and love it. I almost didn't move because reading these message boards I was scared!"