Now You're In Time Magazine.... (Cape Coral, Naples: coupons, foreclosed, renters)

[hiknapster]

Well, I posted the article for a reason.

There's been a lot of bad national publicity. In the eyes of the people reading this that are not familiar with Florida it would look like an opportunity.

Look. I spent almost a few years warning people to stay out of Lee County. Now the place is a complete disaster. But a lot of the home prices are the cost of a lot and as the article states, people just don't stop coming to southwest Florida. Why, I don't know.

So, let them buy your houses so you can leave. You're not going to stop the people from coming. Look at the Florida forum. There is still a barrage of people stating, "I've just always wanted to live in Florida." They are warned about all kind of crucial things but they just don't believe it.

At least they are starting to buy.

[nhkev]

but maybe this new group of buyers can actually afford the houses. one of the biggest problems was that lenders were giving people a first at 80% a 2nd mortgage to make up the difference. people were over paying for properties with no skin in the game. this new group of buyers are buying when houses are (opinion) underpriced, w/o taking exotic mortgage products. it would seem that it will be a more sustainable market. still with lots of bumps in the road but "should" be healthier overall

[jim09091]

Originally Posted by hiknapster

Look. I spent almost a few years warning people to stay out of Lee County. Now the place is a complete disaster.

Disagree. A good majority of the people who got tangled up in this were living beyond their means. A person making 50k per year should have never bought 3+ homes. Not feasible.

It is not a complete disaster... not really even a disaster at all for the county as a whole (it is a disaster for certain neighborhoods within the county though). People read these stories on Lee County and think the whole county is Lehigh Acres, which it is not. The majority of people living here still have their homes and are working. My daily life has gone on and so has it for 100,000's of others in the county. I can't stand people who don't live here claiming that a place is a disaster. To boot, my family has property on the water that is up 6x in value from 2000. I don't think that was a disaster either.

Don't get me wrong, I do feel for those who legitimately tried to live within their means and faced a job loss or bought at the wrong time. I cannot feel sorry for those that snatched up properties left and right and got left holding the bag. You take a risk in everything in life... but some of those risks can bite you hard.

[hiknapster]

Originally Posted by jim09091

Disagree. A good majority of the people who got tangled up in this were living beyond their means. A person making 50k per year should have never bought 3+ homes. Not feasible.

It is not a complete disaster... not really even a disaster at all for the county as a whole (it is a disaster for certain neighborhoods within the county though). People read these stories on Lee County and think the whole county is Lehigh Acres, which it is not. The majority of people living here still have their homes and are working. My daily life has gone on and so has it for 100,000's of others in the county. I can't stand people who don't live here claiming that a place is a disaster. To boot, my family has property on the water that is up 6x in value from 2000. I don't think that was a disaster either.

Don't get me wrong, I do feel for those who legitimately tried to live within their means and faced a job loss or bought at the wrong time. I cannot feel sorry for those that snatched up properties left and right and got left holding the bag. You take a risk in everything in life... but some of those risks can bite you hard.

I'm quite sure that Lee County looks very nice when you're sitting in a boat gazing at your parent's waterfront property, but that's not most people's reality nor is it my family's.

[nhkev]

Originally Posted by hiknapster

I'm quite sure that Lee County looks very nice when you're sitting in a boat gazing at your parent's waterfront property, but that's not most people's reality nor is it my family's.

when I first started looking into cape coral I had spoke to a realtor inquiring how long does it take to get to a beach and his response was "I think about an hour I never really go , in fact no one that lives and works here really goes" Maybe more people need to sit gazing in a boat and watching a sunset or go to the beach . the locals are always posting "don't make decisions based off vacations" it shouldn't be different just because you live there I lived in Boston and use to go on ski vacations all the time.. One weekend I decided not to go home and after 11 years I still go boating on the lake every summer weekend, I still ski often, I snowshoe , go moose watching, blueberry picking and have bonfires. Don't stop what you love doing live where you play

[hiknapster]

Originally Posted by nhkev

when I first started looking into cape coral I had spoke to a realtor inquiring how long does it take to get to a beach and his response was "I think about an hour I never really go , in fact no one that lives and works here really goes" Maybe more people need to sit gazing in a boat and watching a sunset or go to the beach . the locals are always posting "don't make decisions based off vacations" it shouldn't be different just because you live there I lived in Boston and use to go on ski vacations all the time.. One weekend I decided not to go home and after 11 years I still go boating on the lake every summer weekend, I still ski often, I snowshoe , go moose watching, blueberry picking and have bonfires. Don't stop what you love doing live where you play

I went to the beach more when I lived in central Massachusetts than when I lived in Bonita Beach, Fort Myers, etc. Going was too much of a hassle. I didn't care for the beach, the water or the people.

But you entirely missed my point. jim09091 is a 27-year-old that lives with his rich parents. It's very easy to dole out financial advice from that perch.

[121804]

Originally Posted by justNancy

If you are talking about living here, that's different. However, one thing that annoys me is when people think selling to a lot of out-of-state people who buy several foreclosed properties and have no personal interest in the community is a good thing.

What about the couples who want to raise their children here? You can't have a real neighborhood if everyone is transient. On the news last evening they interviewed a young couple who can't compete with all the investors for bank owned homes. Banks always prefer cash buyers for foreclosed properties. They said they've even offered more than the list price.

The amount of $$ baby boomers have lost in the past year is astoundng...so for people to continually expect FL to survive on the PAST ways is not going to do a thing.

I don't like heat, but my dh had a decent paying job (though he would have lost it had we stayed in SWFL). Bills were being paid; children were healthy.

But there was such a LACK of community in SWFL & such a lack of a family feel that it made me desperately crave a place that did have that feel & opportunity seeing we were a young family. We missed family. And since there was such a lack of this feel in SWFL, we made the move that would be positive for our children & ourselves.

Weather can be tolerated. But it doesn't pay the bills nor can it be the sole reliance for FL.

Bring in professional jobs...brings in the youth...brings in families....brings in income...which goes into property taxes....which goes into schools....which improves schools...which draws in more interest of young families....who buy homes & stay in them for the year....and put money into the community TWELVE months of the year through grocery shopping; hardware stores; restaurants; malls, etc.

One of the most depressing things was seeing the closed up homes during the summer. Desolation in my opinion. Nothing like going for a walk with a 1yr old & not seeing any humans block after block in July.

SWFL is not the pit of hell & it can thrive if instead of focusing on the geriatic crowd & tourists that time & effort was put into improving the local economy for the LONG haul.

I've yet to talk to my parents friends or my inlaws or the older crowd & NOT hear them mention how they've really buckled down on spending due to the economy. My parents put on indefinite hold a trip to the Panama Canal & Greece. They just do not want to risk losing that disposable income due to the volatility of the market. They are bummed they can't go on the trip, but mom doesn't want to work at McDonalds at the age of 72. She would if she had to, but she doesn't have to right now, so why risk it? I hear this more than "We are going to retire to Florida now." People, especially the older crowd, are being very, very frugal with their money.

It's hard to find a job when you are 75, so many will tolerate the crappy winter & hire someone to shovel in order not to become destitute with no money. The sun isn't going to replace 401ks & investment loses.

[121804]

Originally Posted by jim09091

Disagree. A good majority of the people who got tangled up in this were living beyond their means. A person making 50k per year should have never bought 3+ homes. Not feasible.

It is not a complete disaster... not really even a disaster at all for the county as a whole (it is a disaster for certain neighborhoods within the county though). People read these stories on Lee County and think the whole county is Lehigh Acres, which it is not. The majority of people living here still have their homes and are working. My daily life has gone on and so has it for 100,000's of others in the county. I can't stand people who don't live here claiming that a place is a disaster. To boot, my family has property on the water that is up 6x in value from 2000. I don't think that was a disaster either.

Don't get me wrong, I do feel for those who legitimately tried to live within their means and faced a job loss or bought at the wrong time. I cannot feel sorry for those that snatched up properties left and right and got left holding the bag. You take a risk in everything in life... but some of those risks can bite you hard.

So, a few weeks ago when President Obama was down there...it was for what reason? The thriving economy & housing market? And the lines of people that lined up to be interviewed on tv....or the canal tours of foreclosed homes....or the unemployment rate of Lee County?

Daily life is easy when you don't have to work or pay the bills!

[hiknapster]

Preach it sista 121804!

If they could have a more stable job and economic base then the young families, people, etc., would come. Of course, with the recession, it's hard to get anything going.

Anyhow, I think that the Time piece was very well done. Describing how the area was first developed, how it all went wrong, and the entrepreneurial spirit of Marc Joseph.

A couple of times while reading it, tears came to my eyes.

"Opportunity is banging at your door," Joseph tells them, and he'd sound like any cheesy salesman if he weren't so attached to this place and so angry at what was done to it; it's as if his house had been burned down by reckless kids playing with matches and he's building it back up again board by board. It's gotten so bad that the courts have had to hire extra judges to handle the 1,000 foreclosures a day — that works out to roughly one every 30 seconds.

[TANaples]

Originally Posted by hiknapster

I went to the beach more when I lived in central Massachusetts than when I lived in Bonita Beach, Fort Myers, etc. Going was too much of a hassle. I didn't care for the beach, the water or the people.

But you entirely missed my point. jim09091 is a 27-year-old that lives with his rich parents. It's very easy to dole out financial advice from that perch.

I go to the beach maybe 3 or 4 times a year here in Florida when my kids visit, and you just plain HAVE TO GO to the beach in Florida. I am about 5 miles from the beach.

In the 20 years I lived on LI, I went to the beach maybe 5 times, even though I was about 2 miles from a PRIVATE town beach, where only residents could to go.

I just plain don't like the beach; the sun, all that SAND all over, that sticky, icky feeling, etc. I would rather go in a POOL.