How are beachside homes so inexpensive?? (Jacksonville, Tampa: houses, employment, neighborhood)

[terago]

I think you answer your own question, "there are not enough high paying jobs to support high real estate prices". Before the crash, prices went up a lot mostly because of investor speculation.

[chopchop0]

Originally Posted by DreamingofSunshine

We live in MD in an area where 500K buys you a home built in the 80's about 2000sf plus a basement. Nothing exciting but a good neighborhood w great schools and pretty much all professionals (white collar). It is hard to imagine we can live close to the beach for less than that in a home that is not any older or smaller or seemingly less desirable. There are a handful of companies there in the Melbourne area like NG that have well paying professional jobs...but I guess if you get laid off there are not many other companies in the area so you have to move....as opposed to the MD/DC area where there are tons of jobs. So I guess maybe I am answering my own question....there are not enough high paying jobs to support high real estate prices?

Probably a reasonable assumption. Remember, the DC Metro is probably one of the robust job markets in the country coming out of the recession ("the government is never in a recession") Plus I believe the wage growth/levels are pretty good there from a national standpoint, as mentioned below:

Maryland families estimated to have highest median income in America | WJLA.com

That being said, Melbourne/Brevard does have some industry besides tourism and that has kept real estate prices higher than say Daytona Beach as example.

[DreamingofSunshine]

Thank you for the responses. We are wondering because my husband can possibly get a job with his company there in the Melbourne area. We just worry there would not be much to fall back on like there is here. Also, we would have to go check out the area to see what it "feels like." Sort of tired of the MD politics (they literally tax the rain water!) and would like to move south. However, I am not sure how I would live without a Trader Joes, Whole Foods, or Costco! Those are my 3 grocery places and I must have at least 1!

[chopchop0]

Originally Posted by DreamingofSunshine

Thank you for the responses. We are wondering because my husband can possibly get a job with his company there in the Melbourne area. We just worry there would not be much to fall back on like there is here. Also, we would have to go check out the area to see what it "feels like." Sort of tired of the MD politics (they literally tax the rain water!) and would like to move south. However, I am not sure how I would live without a Trader Joes, Whole Foods, or Costco! Those are my 3 grocery places and I must have at least 1!

All of them are in FL.

[DreamingofSunshine]

Originally Posted by chopchop0

All of them are in FL.

Not in the Melbourne area.....over an hour away in Orlando yes. 2+ hour round trip for weekly shopping is rough!

[clnewman]

There's a Sam's Club in Cocoa... almost identical to Costco. Awesome Meat Dept. with great prices.

My understanding is there's talk of Trader Joe's opening a store somewhere on the Space Coast, but not sure if/when that will happen.

If you're shopping Trader's/Whole Foods for organics, there are a lot of organic markets in the greater Melbourne area. There are also some really nice Farmer's Markets in the area.

[chopchop0]

Originally Posted by DreamingofSunshine

Not in the Melbourne area.....over an hour away in Orlando yes. 2+ hour round trip for weekly shopping is rough!

Yup. Bigger cities. Orlando already has a costco and whole foods. TJ is coming soon. I sometimes to go to WF when I am in Orlando for other reasons. The costco isn't too far from the airport.

[Sonic_Spork]

Not a regular Florida poster, just happened to skim across this topic as a headline from the main forums, and had a thought I wanted to contribute. Don't know how relevant it is.

I know that the beachfront homes in the Outer Banks in NC where I used to vacation had a serious problem because the beach was constantly eroding and otherwise changing shape. So an oceanfront house today might be condemned in a matter of years due to the ocean taking away so much land that the structure eventually was in the surf. They are all built up on stilts and all, but eventually a house can be simply too close to the sea. I've always wondered how owners handle such a loss, as far as their personal accounting and taxes and so forth...

I've heard about some beach erosion happening in FL, so *shrug*..maybe this happens there too?

[someboyca]

Originally Posted by chopchop0

They are typically older homes (50s-60s built) on tiny lots.

I bought 2011 a condo fees are not expensive. I have to admit you really have to do your own reseach. Did they keep everything up to date on repares? Do they have a money for big problems? The taxes? The area your neighbers? etc.. If I listen to everyone I would have never made the moves facts are facts. Ask for the proof. This help me for my decision. I thing most of the places need to be redone but there are still good places to buy but you need time to search. hope it helps

[scottschuetz]

Originally Posted by DreamingofSunshine

Not in the Melbourne area.....over an hour away in Orlando yes. 2+ hour round trip for weekly shopping is rough!

We have great local markets. In Indialantic there's the Green Turtle and the Jungle Organic market and several fish and meat markets nearby. I really enjoy these places and don't miss Trader Joes or Whole foods. There's also Sam's club and BJs in Melbourne if you want to buy in bulk.

One thing I love about this area is there's very little congestion. I'll pop into the Green Turtle on my way home and pick up something to prepare for dinner or somehting they have pre cooked. I can be in and out in a couple minutes.