[BleakOutlook]

My husband and I made a huge mistake, from which the consequences just never, never end. We moved to Southeast Florida in 1999, to be near my mother. We spent two years looking for a house and we could never agree on the right property. The mistake: we were too picky and not in a big hurry. Then in 2001, September 11th hit and in addition to all the tragedy of that day, the real estate here started to go sky high in value. Now the prices of houses and duplexes in this area are 3-4 times higher than what these properties are worth and would have been sold for prior to 2002.

We kept looking for years for something we could afford but pretty much gave up, probably about a year ago. We're renting here and the rents are sky high, too. Our budget for a home is something not over $200,000 and we want a single home with 3-4 bedrooms or maybe a really nice duplex, either way so my mother could move in with us.

We went up to Georgia and looked around at some real estate up there, where we found really nice homes for less than here, but, we don't have jobs up there and don't have the kind of jobs to transfer, either. Doesn't help at all that my husband and mom reaaly don't want to leave Florida, either, and it would take a lot of evidence to get them to move away.

I've gotten really despondent and hopeless about the whole situation and I believe we'll never afford a home here. I didn't move here so I could just rent the rest of my life. I feel like I'm working for nothing, just to hand rent over to a greedy landlord. Yes, I'm depressed, and working with a counselor over that, but meanwhile, nobody has provided me with the specific answers I need to get our life out of this rut.

What I'd REALLY like to know is: Are there others areas of Florida still affordable where we could achieve this modest dream ? Is South Florida pretty much done for affordable housing ? Should we give up entirely on Florida because all the houses here are overpriced crap now and the only nice houses are for the wealthy ?

[macguy]

Originally Posted by BleakOutlook

My husband and I made a huge mistake, from which the consequences just never, never end. We moved to Southeast Florida in 1999, to be near my mother. We spent two years looking for a house and we could never agree on the right property. The mistake: we were too picky and not in a big hurry. Then in 2001, September 11th hit and in addition to all the tragedy of that day, the real estate here started to go sky high in value. Now the prices of houses and duplexes in this area are 3-4 times higher than what these properties are worth and would have been sold for prior to 2002.

We kept looking for years for something we could afford but pretty much gave up, probably about a year ago. We're renting here and the rents are sky high, too. Our budget for a home is something not over $200,000 and we want a single home with 3-4 bedrooms or maybe a really nice duplex, either way so my mother could move in with us.

We went up to Georgia and looked around at some real estate up there, where we found really nice homes for less than here, but, we don't have jobs up there and don't have the kind of jobs to transfer, either. Doesn't help at all that my husband and mom reaaly don't want to leave Florida, either, and it would take a lot of evidence to get them to move away.

I've gotten really despondent and hopeless about the whole situation and I believe we'll never afford a home here. I didn't move here so I could just rent the rest of my life. I feel like I'm working for nothing, just to hand rent over to a greedy landlord. Yes, I'm depressed, and working with a counselor over that, but meanwhile, nobody has provided me with the specific answers I need to get our life out of this rut.

What I'd REALLY like to know is: Are there others areas of Florida still affordable where we could achieve this modest dream ? Is South Florida pretty much done for affordable housing ? Should we give up entirely on Florida because all the houses here are overpriced crap now and the only nice houses are for the wealthy ?

What kind of work do you do?

[FrankFlorida]

No need to be said, South Florida still has affordable homes in your pricerange. Maybe not on the Eastcoast,
but here in Cape Coral and Lehigh Acres - just accross Fort Lauderdale to the West - we have plenty brandnew homes with 3-4 bedroom 2 bath 2-car-garage for less or around $200,000. For sample check www.florida.at or just search in google for 'cape coral new homes for sale' or for 'lehigh acres new homes for sale'. I do not think that it would be a problem to find a job here... all people I know have work.

[robjr100]

Looks to me like homeowners insurance and property taxes are chasing people out of the Florida.Those two things will slow the real estate market in Florida big time.In the end alot of the air should come out of those inflated house prices in Florida.I`d wait and watch.

I wanted a place down there but now I`m not so sure.I`m thinking now maybe I`ll just rent a place for a few months every winter.

[TriMT7]

Where exactly are you talking in South Florida?

$200k is NOT going to allow you to buy a 3-4 bedroom place anywhere South of Martin County, I'm afraid.

However, if you can move up to Port St. Lucie area, you CAN find homes for 200k and less that you would actually want to live in, on quarter acre lots. Go to realtor.com, for example, and type in area code 34953 (for example)with a limit of 200k. The homes that are towards the top of that price range look like decent 3/2/2homes.

Or.... are you talking about Miami/Broward/Palm Beach Counties?

[SKB]

Hello,
Your post caught my eye and I felt inclined to brighten your day

I am not sure if you are aware of this or not, as the media is trying the best they can do down play and under report what is going on in Florida and most of the USA. The housing market is is taking a huge correction (tanking) in price. You will start to see some major reductions in prices now and much more in spring, summer, fall etc....
This is what you need to do:

Get educated on what is going on, I have attached some fantastic sites with experts on this subject to give you all of the information you need on what is really happening out there. Do NOT be fooled by the marketing campaigns that are currently running on TV and the papers on "Its a good time to buy". These is all lies to try to stimulate people's interest to purchase homes that are completely OVER PRICED.

Log into these sites and read, read everything you can on the credit bubble and what is currently happening.
There are a lot of other links to other sites on these sites as well.

DO NOT BUY A HOUSE NOW, IT WILL BE THE WORST MISTAKE Y0U EVER DID SHORT OF NOT BUYING IN 2001.

Moderator cut: links not allowed
Best of luck and be happy much better times are ahead and you will get a beautiful home in your price range very very soon.

SKB.

[Muggy]

BleakOutlook, add this to your reading list: Crashes: The Florida Real Estate Craze

"...everybody simultaneously saw the writing on the wall, and panic selling ensued. With thousands of sellers and very few buyers, prices came down with a sickening thud, twitched a bit, and then crawled down even lower."

Moderator cut: link cut

[FLPL75]

BleakOutlook
in NE florida you can find the kind of home you are looking for
also our taxes and insurance are less than in south florida
karla

[Edvard]

You can get nice deals right now.

[kcov2005]

Bleak outlook,

I completely agree with you. I moved down here six years ago and it was the biggest mistake of my life! I am trying to move out of here so fast thi syear! There are not any decent single family homes down here (palm beach county) that are under 250k. Even if you were to be blessed with a miracle and find one that was lower than 250k (in a good neighborhood, good cshools etc) you probably still wouldn't be able to afford the HOA fees, property taxes and the insurance! It is way overinflated here. New townhomes are being built over here in a sketchy area with a terrible school district starting in the mid 300's!!!!!!!! It is ridiculous here. Not for families at all. I have been stuck in a small 2bdr apt with a kid and a dog because I can't afford anything else! And if I do find something else, I can't go because A) no one takes big dogs down here B) the schools are bad. I feel very trapped. I am an accountant and make a decent living but feel so broke down here. I came from the North thinking it would be great to raise a family down here, but I was wrong! I am going back up north. Life is so much better up there! I wouldn't consider Port St Lucie at all! You would be hard pressed to find much up there under 200k. Good Luck with everything!