[kristimc25]

Originally Posted by joebaldknobber

The real estate depreciation in Florida is incredible.

Don't have to tell us! My hubby is in the mortgage banking business and we just had our first baby. Tought times right now everywhere. I hope it gets better soon. Luckily, there is still people moving to Florida and rich nonresidents buying vacation homes here. It is the only positive in this mess right now.

My sis in law in Maumelle has seen her home drop by 15% as well. Could not sell it as it would be upside down. Maumelle and NW Arkansas made the same mistakes that Tampa did - building too many homes!!!!!

[kristimc25]

Originally Posted by Stormcrow73

Wow..we got one he!! of a better deal than this just this year in Maumelle! Your numbers here are dead to rights wrong. Very, very few homes in central Arkansas are listed over $110/sq. ft. Your range quoted here is $112 to 120/sq.ft. We bought in March, 3 y/o all brick 4bd, with bonus room/office, over .25 acre, granite countertops, wood floors, gas f/p for under $90/sq.ft.

When we came back here to AR from MD, we also briefly looked at the Space Coast area. I know, not at all like Tampa (much nicer), but homes there were priced quite a bit higher than here in Central Arkansas and if we had opted for hurricane insurance, we would have been paying close to MD levels of outlay when you consider taxes and insurance together. In Maumelle, one of the highest cost areas here for property taxes, we pay about half of what we would have been paying in FL in taxes and insurance (for less home too!).

My numbers are based on the most homes sold for the last quarter for new homes that are completely up to date; however, I meant to write 2800 square feet not 2400. Holding a 5 month old and typing is not my forte. Great deal by the way!