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Old 06-03-2008, 08:16 AM
 
Location: Cape Craploa-Cape Coral
3 posts, read 9,769 times
Reputation: 11

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Look at my new member name everyone!!

I am definitely moving back to Massachusetts. Since I got here it's been nothing but bad luck, and dissapointment, with a side of discouragement.
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Old 06-03-2008, 08:17 AM
 
Location: Cape Craploa-Cape Coral
3 posts, read 9,769 times
Reputation: 11
Wait until you have to INSURE that condo.... then see how cheap it is.

Quote:
Originally Posted by Plmtrz_plz View Post
Even more snow for 7 months a year, Ice, heating bills, bulky winter clothes, slush, no power when its -20 out, ugh!!! Have you forgotten all of that. I know its easy to do when you move back to Fla. I've forgoten how bad the weather is and I just came back to Fla 3 weeks ago. It snowed the day I left and all I remember is being miserable that day and wet and freezing... Yuck.. There weren't any jobs up there when I left in Mass or NH.. The paper had 4 jobs for the town. I would check every day.. Do you have a job lined up or are you winging it?

Think about what you were saying a couple months ago




I'm not trying to critize but you're sounding now very similar to how you did then. That might be a bad thing. The economy might be bad down here but that will change and get better, the weather however will not change up north. It will still be as crappy and nasty as when you left.

I really think you moved to the wrong place, Cape Coral while nice is still sparsley populated. Estero, Bonita and Naples are much better, plus they're not expensive like they used to be. My husband and I tomorrow are looking at a condo in the gated community we used to live in its 3 bed with two masterbedrooms and two baths for $140,000. The best thing, is unlike NE the place isn't 100 years old and its fully upgraded so I don't have to worry about all of that. Even better, I'll never have to heat it. The taxes are around a grand a year. That same condo in NE (we looked at a similar one however it didn't come with A/C) had taxes that were $3,800 a year.

Either way good luck, but remember how miserable you were up in NE and when that winter hit you were desperate to get out. Nothing is going to change when you go back up
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Old 06-03-2008, 04:07 PM
 
Location: Concrete jungle where dreams are made of.
8,900 posts, read 13,655,438 times
Reputation: 1819
Quote:
Originally Posted by Plmtrz_plz View Post
That same condo in NE (we looked at a similar one however it didn't come with A/C) had taxes that were $3,800 a year.

Looks like Taratomsgirl got another username LOL

3,800 a year in taxes is nothing. On Long Island,where I grew up and plan on buying, 7000 is considered cheap.
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Old 06-03-2008, 05:13 PM
 
Location: Amherst, MA
3,636 posts, read 8,745,296 times
Reputation: 1755
Yes she did....

My father pays $2200 a year on taxes on his big house and 6 acres in Western mass.
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Old 06-04-2008, 07:06 PM
 
Location: Land of Free Johnson-Weld-2016
6,473 posts, read 14,362,446 times
Reputation: 6451
Default Dum da dum

I have to give some ppl a wake up call. I love Florida, but even I know that Florida has no jobs. A 140K condo is a good deal in the northeast, but it's pretty darn expensive in Florida.

If you have money to burn and you want to use the condo for personal use, then great! You can enjoy and visit it and get a nice deduction from your income if you finance.

If you want to INVEST w/ a loan, then think twice:
1. Mortgage, taxes and Insurance = 1400 per month
2. Condo Maintenance - $400 (just condo fees not a manager)per month
3. Condo Assessments - $10K, $20 who knows?

This does not include any property registration, advertising and other fees you will have to pay if you want to lease your condo. In MD these fees are annoying and fairly high (lead paint, registration, assessments).

But I live in a RICH state. In Florida the tax base is not as good so they will probably sock it TO YA when it comes to fees, taxes and assessments because the municipalities can't get $$ from anyone else.

Now how much rent are you going to get to defray these costs? If your condo is on the beach MAYBE a lot... during vacation season. In other places not so much because there are tons of rentals and no jobs.

Actually there ARE jobs . . .that pay $7 per hour. Of course there are highly paid people in Fla, but they probably have their OWN condos and houses and try to live near their workplaces.

Even in terms of vacation rentals, have you been to Florida?

There is a hotel on every corner. And most of them have pools and free breakfast. Why would anyone vacation in your apt when you don't have maid service, free continental breakfasts, or a front desk?

"Investors" pls wake up. I think that a lot of you caused the big bust in real estate. I have rental properties in my state and let me tell you that the only reason I survived is because I am a highly compensated person.

When I got $1000 heating bills in the winter, I had to rely on my salary to pay the bills. When one of my tenants took me to court, I had to take time off of work to attend and pay money to defend myself.

Of course the case was bogus because I am an awesome landlady, but a tenant can take you to court for any reason. And if you don't show up, or you don't pay someone to show up, be prepared to PAY.

I think some ppl look at me and other small time investors and think we are rich. We are not. Rental property costs a grip and takes constant work, communication and planning. It's like any other business. You will lose money for the first two years at LEAST. Once you pay down your debts, figure out what the heck you're doing etc. then you MIGHT make big money many years down the road. If you can't afford to spend like 5times what you think "investing" will cost, then don't do it. Filing for bankruptcy protection has gotten much tougher so you may just end up with bad credit, no home and a ruined future.


Do you want to pay a property manager $400 a month to "manage" your property? For instance, if you are in VT and your town in Florida mails you some sort of assessment, can you afford to fly down to go to a hearing to contest it? If not, then be ready to pay through the nose.

Can you afford to go to condo meetings? If not, can you afford a property manager. Until Floridian houses cost way less than $140 (Which is Crazy for a condo) then they are STILL overpriced.

Just my two cents.
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Old 06-04-2008, 09:01 PM
 
Location: Amherst, MA
3,636 posts, read 8,745,296 times
Reputation: 1755
THANK YOU!!!! Applause, applause!!!!!!! Positive feedback for you!!!

Quote:
Originally Posted by kinkytoes View Post
I have to give some ppl a wake up call. I love Florida, but even I know that Florida has no jobs. A 140K condo is a good deal in the northeast, but it's pretty darn expensive in Florida.

If you have money to burn and you want to use the condo for personal use, then great! You can enjoy and visit it and get a nice deduction from your income if you finance.

If you want to INVEST w/ a loan, then think twice:
1. Mortgage, taxes and Insurance = 1400 per month
2. Condo Maintenance - $400 (just condo fees not a manager)per month
3. Condo Assessments - $10K, $20 who knows?

This does not include any property registration, advertising and other fees you will have to pay if you want to lease your condo. In MD these fees are annoying and fairly high (lead paint, registration, assessments).

But I live in a RICH state. In Florida the tax base is not as good so they will probably sock it TO YA when it comes to fees, taxes and assessments because the municipalities can't get $$ from anyone else.

Now how much rent are you going to get to defray these costs? If your condo is on the beach MAYBE a lot... during vacation season. In other places not so much because there are tons of rentals and no jobs.

Actually there ARE jobs . . .that pay $7 per hour. Of course there are highly paid people in Fla, but they probably have their OWN condos and houses and try to live near their workplaces.

Even in terms of vacation rentals, have you been to Florida?

There is a hotel on every corner. And most of them have pools and free breakfast. Why would anyone vacation in your apt when you don't have maid service, free continental breakfasts, or a front desk?

"Investors" pls wake up. I think that a lot of you caused the big bust in real estate. I have rental properties in my state and let me tell you that the only reason I survived is because I am a highly compensated person.

When I got $1000 heating bills in the winter, I had to rely on my salary to pay the bills. When one of my tenants took me to court, I had to take time off of work to attend and pay money to defend myself.

Of course the case was bogus because I am an awesome landlady, but a tenant can take you to court for any reason. And if you don't show up, or you don't pay someone to show up, be prepared to PAY.

I think some ppl look at me and other small time investors and think we are rich. We are not. Rental property costs a grip and takes constant work, communication and planning. It's like any other business. You will lose money for the first two years at LEAST. Once you pay down your debts, figure out what the heck you're doing etc. then you MIGHT make big money many years down the road. If you can't afford to spend like 5times what you think "investing" will cost, then don't do it. Filing for bankruptcy protection has gotten much tougher so you may just end up with bad credit, no home and a ruined future.


Do you want to pay a property manager $400 a month to "manage" your property? For instance, if you are in VT and your town in Florida mails you some sort of assessment, can you afford to fly down to go to a hearing to contest it? If not, then be ready to pay through the nose.

Can you afford to go to condo meetings? If not, can you afford a property manager. Until Floridian houses cost way less than $140 (Which is Crazy for a condo) then they are STILL overpriced.

Just my two cents.
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Old 06-05-2008, 08:31 AM
 
2,141 posts, read 6,430,118 times
Reputation: 589
Quote:
Originally Posted by kinkytoes View Post
I have to give some ppl a wake up call. I love Florida, but even I know that Florida has no jobs. A 140K condo is a good deal in the northeast, but it's pretty darn expensive in Florida.

If you have money to burn and you want to use the condo for personal use, then great! You can enjoy and visit it and get a nice deduction from your income if you finance.

If you want to INVEST w/ a loan, then think twice:
1. Mortgage, taxes and Insurance = 1400 per month
2. Condo Maintenance - $400 (just condo fees not a manager)per month
3. Condo Assessments - $10K, $20 who knows?

This does not include any property registration, advertising and other fees you will have to pay if you want to lease your condo. In MD these fees are annoying and fairly high (lead paint, registration, assessments).

But I live in a RICH state. In Florida the tax base is not as good so they will probably sock it TO YA when it comes to fees, taxes and assessments because the municipalities can't get $$ from anyone else.

Now how much rent are you going to get to defray these costs? If your condo is on the beach MAYBE a lot... during vacation season. In other places not so much because there are tons of rentals and no jobs.

Actually there ARE jobs . . .that pay $7 per hour. Of course there are highly paid people in Fla, but they probably have their OWN condos and houses and try to live near their workplaces.

Even in terms of vacation rentals, have you been to Florida?

There is a hotel on every corner. And most of them have pools and free breakfast. Why would anyone vacation in your apt when you don't have maid service, free continental breakfasts, or a front desk?

"Investors" pls wake up. I think that a lot of you caused the big bust in real estate. I have rental properties in my state and let me tell you that the only reason I survived is because I am a highly compensated person.

When I got $1000 heating bills in the winter, I had to rely on my salary to pay the bills. When one of my tenants took me to court, I had to take time off of work to attend and pay money to defend myself.

Of course the case was bogus because I am an awesome landlady, but a tenant can take you to court for any reason. And if you don't show up, or you don't pay someone to show up, be prepared to PAY.

I think some ppl look at me and other small time investors and think we are rich. We are not. Rental property costs a grip and takes constant work, communication and planning. It's like any other business. You will lose money for the first two years at LEAST. Once you pay down your debts, figure out what the heck you're doing etc. then you MIGHT make big money many years down the road. If you can't afford to spend like 5times what you think "investing" will cost, then don't do it. Filing for bankruptcy protection has gotten much tougher so you may just end up with bad credit, no home and a ruined future.


Do you want to pay a property manager $400 a month to "manage" your property? For instance, if you are in VT and your town in Florida mails you some sort of assessment, can you afford to fly down to go to a hearing to contest it? If not, then be ready to pay through the nose.

Can you afford to go to condo meetings? If not, can you afford a property manager. Until Floridian houses cost way less than $140 (Which is Crazy for a condo) then they are STILL overpriced.

Just my two cents.
Great Post!! This is why Florida went from the Sunshine State to the Short Sale state.
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Old 06-05-2008, 09:25 AM
 
3,842 posts, read 9,591,746 times
Reputation: 3194
And try to sell that condo in a few years in SWFL...

Yeah...whatever!! Good luck!

So much inventory that is going to be around for years.

Our landlord in PG was beyond desperate to rent out her properties & took a huge hit to rent to us b/c she was at least getting something to cover the mortgage. There were 37 of them for rent in our development which was down the street from another 18 that were for rent. About a mile away there was a 500 unit condo development built. About 5 miles away was Tern Bay with another gizillion for sale.

Just how many people can buy a condo in SWFL?

And how many are going to rent for over a few weeks to make it worthwhile an owner to rent out?

And this is just condos we are talking about. Then there is the single family home mess.

I can see the value for some in buying a home or condo right now in SWFL for there are some great deals. But if one is not going to live in the home or condo for at least 5-7 yrs...what an awful mistake to buy.

I laugh when I hear how & have heard for over 2 years now..."it's going to pick up; the economy is going to get better!"

Is it? NO ONE has the answer.

Buyer beware.
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Old 06-09-2008, 05:41 AM
 
Location: The Conterminous United States
22,564 posts, read 48,436,929 times
Reputation: 13435
I've been in Knoxville for almost three years, now. Lived in Fort Myers and Bonita Springs for about nine.

Well, if all goes according to plan, we will be purchasing a home on June 27. It's a 1,700 square feet, three bedroom, 1 1/2 bath, two fireplaces, new kitchen, huge wooded lot, fabulous neighborhood around the corner, literally, of the elementary school. I'm paying $119,900.

Taxes are about $1,300, but that's because I'll pay city and county. Several streets over and it would have been just county for about $600.

So to finally answer the orginal question, I have permanently moved to Knoxville, Tennessee.

Have I regretted moving out of Florida? Not for one minute. Moving there was the biggest mistake I ever made. The only good thing that ever came out of it, was that I met my husband and was blessed with the most beautiful daughter.
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Old 06-09-2008, 08:51 AM
 
3,842 posts, read 9,591,746 times
Reputation: 3194
Quote:
Originally Posted by hiknapster View Post
I've been in Knoxville for almost three years, now. Lived in Fort Myers and Bonita Springs for about nine.

Well, if all goes according to plan, we will be purchasing a home on June 27. It's a 1,700 square feet, three bedroom, 1 1/2 bath, two fireplaces, new kitchen, huge wooded lot, fabulous neighborhood around the corner, literally, of the elementary school. I'm paying $119,900.

Taxes are about $1,300, but that's because I'll pay city and county. Several streets over and it would have been just county for about $600.

So to finally answer the orginal question, I have permanently moved to Knoxville, Tennessee.

Have I regretted moving out of Florida? Not for one minute. Moving there was the biggest mistake I ever made. The only good thing that ever came out of it, was that I met my husband and was blessed with the most beautiful daughter.
Congratulations! I hope all goes smoothly with the closing.

We've never regretted the move, either. The other choice (another year deployment to Iraq though at that time it would have been a 15 month deployment) would have been far, far worse & quite literally my dh may not have returned. He got injured the first time over there. It's like playing russian roulette once you start getting into 2,3,4 and even 5 deployments. As much as we hated the area, we were still together every night, my dh wasn't running over IEDs & most importantly, he got to see his son every single day.

We were able to close on a home last Nov here & it has been such an enjoyable time. We have the best possibly neighbors surrounding us & kids up & down the block. Our next door neighbors are in their mid80s & the kindest people I've meet. They say living by kids keeps them young.

Hipknapster--from your posts, it sounds like this house has been a long time coming & a journey. May it be full of happiness for your family
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