why are psl homes so cheap (Miami, Homestead: renting, mortgage, loans)

[FlaLadyB]

Originally Posted by keweke00

Can anyone give me honest opinions of the following streets:
SW Herder Rd
SE Volkerts Ter
Floresta dr
SE Walters Ter

I am looking to purchase a house and my prospectives are on these streets.

Help please, I need a safe neighborhood for a single white girl and her mother. It needs to be respectable and clean.

I need your honest opinions!

Like any neighborhood, you need to SEE what the area is like before you make any kind of decision. Are you looking on line are realtor.com or are you actually here?

[Jiminwdbg]

Thats funny. Nobody in PSL has two nickles to rub together. I bought a home with cash in April 2011 and already sold it 3 months later. People in PSL work for less than $8 per hour, 20% of homes are vacant! At best PSL is going to be Floridas next GHETTO town. When your house can only fetch about $30,000 within 3 more years you are going to wish you went back to Jersey too! Lots of luck to you, you are going to need it!

Originally Posted by stevep111

So you would rather move back to a state with an income tax and some of the highest property and sales taxes in the country? Last time I lived in New Jersey part of the state was underwater in the springtime. You couldn't go in the water at the beach for fear of being stuck by a needle. Yes it is free to get into the state but there is only one road going out of the state that you don't have to pay. That says a lot about "Jersey" Tolls every 10 miles and they don't even have a sunpass lane so you have to wait 20 minutes backed up to pay a toll only to go 5 more miles and do it all over again. Yeaaaaaaaaaa you goooooo girlfriend. Back to the good ole Garden state.

[Jiminwdbg]

I'm with you, only 3 months here and think PSL is a rathole. Sold my house and going back to NJ in two weeks. I have been ripped off by more people in PSL in 3 months than the other 50 YEARS of my life in NJ. Desperate people do desperate things I guess. Nobody in PSL has ANYTHING! Good luck going back to you! To me PSL is just another Florida ghetto town.

[FlaLadyB]

so you decided to come on to the forums JUST to post that you moved from New Jersey and now don't like it. Been here 3 months in mid summer.. ok.. New Jersey is still there, and so is are the reasons you left it in the first place.

[pch98]

Originally Posted by TriMT7

I have a friend who works as an attorney here in West Palm Beach. She and her husband purchased a home in PSL a couple months back - 4 bedrooms for 95k..... we recently went to lunch, and I asked her how she liked living in PSL. She stated he "loved" it, her home, and her neighborhood (which is off of Gatlin, non-HOA). I asked her how she handles the commute and she said she'd rather pay more in gas than an HOA. Plus, 90k in West Palm Beach or the better suburbs of West Palm would MAYBE buy a distressed condo. If you're lucky.

Of course, growing up in PSL, my friends and I who also grew up in the area vowed to never return to the city (though I sometimes look at what I spent here in West Palm and think about the kind of house I could buy in PSL with the same money, lol) ... but it just goes to show that despite the negativity on this board and others, countless people enjoy PSL, what it has to offer, and are taking advantage of depressed home prices for the better. As new families move in that can AFFORD their houses, it will make the area better.

I hated living in PSL. And, it's true there was a lot of homes foreclosed on. Many peo who lived in WPB area moved up to PSL during the boom because they could afford to build/buy. There was a lack of regulations regarding lending, as we all know. Many peo lost their homes. A sheriff's deputy told me that there are Deputies living rent free in a lot of homes because their owner can't sell and they'd rather have someone in the house than leaving it empty. So, they seek out police officers because they think that they're less likely to engage in criminal behavior and by having an officer there, they feel as though their property is being protected. PSL is a small town. There is little to no cultural activity. Of Florid'a cities, back in 2010, PSL had a higher unemployment rate than most cities in the state of FL.

[pch98]

Originally Posted by Jiminwdbg

I'm with you, only 3 months here and think PSL is a rathole. Sold my house and going back to NJ in two weeks. I have been ripped off by more people in PSL in 3 months than the other 50 YEARS of my life in NJ. Desperate people do desperate things I guess. Nobody in PSL has ANYTHING! Good luck going back to you! To me PSL is just another Florida ghetto town.

Be glad you didn't go to Boca Raton. You'd be ripped off 100 times more than you were in PSL. But yes, PSL isn't where I'd want to be either.

[seeriously]

There's a reason why they chose PSL for the nuclear plant location and there's a reason why western PSL was chosen for the wind towers.

[FlaLadyB]

ipoetry, you now live in MASS.. not in PSL. Did you know your state had the first WIND TOWER? AND interestingly enough, you have a necular power plant TOO!! how about that!

[seeriously]

I'm pretty sure most states have nuclear power plants and windmills but they didn't scour the state of MA to find my town to plunk both of them in.

[pslfrommiami]

There are two kinds of people in Port St. Lucie. Those who moved here in the first boom of the 80's and now resent those who have moved here in the past few years and those who have moved here in the past few years with a good outlook for the city.

For everyone's information, houses are not that cheap here. Descent houses are hard to find. The cheap ones need 50k or more in rehab to get them up to the same level as the descent ones. About all the good ones are gone but you still see plenty of bargains but again those are all fix me uppers.

A house across the street from me is selling for 119k down from it's original value of 278k. You may think this is so cheap but it needs a new roof, total gut of the inside and about 15k worth of work to the pool. That does not include the new lawn and fixing the cracked driveway and digging the well deeper. The house gets more visitors than walmart but no one is buying it. I imagine that it will eventually sell but the final move in price will be well above 200k.