U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
Old 03-31-2009, 07:50 AM
11,486 posts, read 15,069,917 times
Reputation: 4894


Originally Posted by MiamiRob View Post
my brother purchased a brand new home in 1994 about a year after Hurrican Andrew in deep south Dade. It was a 4 bedroom/2 bath with a 1 car garage on a corner lot. He paid $93,000 for it & would have never sold if it weren't for Katrina's brief sideswipe with it's 16 inches of rain in less than 6 hours.We had a foot of water in the house in area that was Zoned X or not a Flood Zone.
He decided to sell and even with the water damage he sold it for $275,000 in 2005 or nearly triple what he paid for it 11 years before.
Now that is awesome, congrats to him! That is some great profit.
Reply With Quote Quick reply to this message

Old 04-03-2009, 12:15 PM
13 posts, read 36,183 times
Reputation: 15
MiamiRob, In deed, that is some good money. There were many properties to purchase after Andrew. We purchased thirty+ homes in Homestead and S. Miami immediately following the storm and the returns were very nice. The deal I regret: I could have purchased 450 lots, zoned for single story townhomes, in Naranja Lakes after they had been cleared of debris, about 3 years after Andrew. Very few homes survived in that area and the City/County had placed liens against the land for demolition,clearing and many properties had unpaid taxes for two years.The city was willing to talk after I offered 10% of assessed value. Unfortunately, I didn't have the funds since it took them 8 months to call.
Reply With Quote Quick reply to this message
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply

Loading data...
Based on 2000-2020 data
Loading data...

Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida
Similar Threads

All times are GMT -6.

© 2005-2023, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top