moving to Florida

[Harbor Hopper]

Originally Posted by MikeM8560

http://floridadisaster.maps.arcgis.c...3.0587,32.3749


I saw this map posted on a different thread seems my home is in zone B am I to understand that a bank would not require flood insurance ?

Mike, you're still in flood zone AE

[MikeM8560]

Thanks i did t notice evacuation.

[dis2cruise]

Following

[bird dog]

Originally Posted by SoFLGal

At this point there are some good deals on the water so it probably doesn't make much sense to build. You can most likely buy an existing home cheaper.

I believe that you are wrong. Both my daughter and her SO are in RE development (and have graduate degrees from UF in RE) and they determined that, for example, we could sell our house in PGI and rebuild on another tip lot and end up with a much bigger house. With all due respects, I hold the opinions of developers and financiers of real estate over those working for commissions who make more money on the resale of a house than the sale of a lot.

To the OP, check out lot prices and then talk to a top flight builder before making a decision - never believe realtors as they have a built in conflict of interest that tends to color their opinions. Not saying that they are unethical, just human.

[mr&mrssunshine]

Originally Posted by bird dog

I believe that you are wrong. Both my daughter and her SO are in RE development (and have graduate degrees from UF in RE) and they determined that, for example, we could sell our house in PGI and rebuild on another tip lot and end up with a much bigger house. With all due respects, I hold the opinions of developers and financiers of real estate over those working for commissions who make more money on the resale of a house than the sale of a lot.

To the OP, check out lot prices and then talk to a top flight builder before making a decision - never believe realtors as they have a built in conflict of interest that tends to color their opinions. Not saying that they are unethical, just human.

I would like to say as a builder that I agree with you...but I might struggle.

to say you can
1. sell an older home and
2. then build a brand new bigger home

if all things are equal...location, spec of finishes........etc.....it is, IMO unlikely


anyway...who cares................ BUILD NEW

[Big House]

Originally Posted by bird dog

I believe that you are wrong. Both my daughter and her SO are in RE development (and have graduate degrees from UF in RE) and they determined that, for example, we could sell our house in PGI and rebuild on another tip lot and end up with a much bigger house. With all due respects, I hold the opinions of developers and financiers of real estate over those working for commissions who make more money on the resale of a house than the sale of a lot.

To the OP, check out lot prices and then talk to a top flight builder before making a decision - never believe realtors as they have a built in conflict of interest that tends to color their opinions. Not saying that they are unethical, just human.

Of course!!! Genius!!! Everyone can sell an older home on any canal and build new (bigger) house on a tip lot and - it's a deal!! Works every time!! Plus I doubt you have the kind of experience to base your judgement. I know SoFLGal has lived here her whole life and evaluated more property than you'll likely ever see if you drive around here your whole life! I know I developed and build almost a billion dollars worth housing units in my career, and evaluated her capabilities. What difference would it make to her if she sells a new house or an existing house? Neither of which she was trying to do, when you called her out that

If you base the judgment on sf cost - buying existing is far cheaper than buying new. Permit fees, development charges, utility infrastructure, land costs are all rising, and ability to find well trained quality tradesmen... Are very difficult and going up. While housing prices that were previously built fell dramatically. Rising now, but still low. So her statement was 100% correct!

That said, building costs are still at at an all time low, but the forementioned statements are true. You can build and get exactly what you want, but bottom line it's not "cheaper", as SoFLGal noted, which I again point out -was not to sell anything. Because new or existing makes no difference to any agent here.

[mr&mrssunshine]

sshhhhhhhhhhhhhhhhh

Build new

its the new motto

[SJNE17]

Bird Dog, respectfully, there's no way building new on a good tip lot in PGI is cheaper than buying something relatively new, similarly sited (or at least very close water access) and of a certain quality. That's why so many homeowners/builders there are underwater or breakeven at best, which is a good indicator that it makes sense to buy before things catch back up to parity.

Take the tip lot on Brazilia, for example. That's $475k, probably one of the best-priced tip lots close to Ponce. Right across the water on La Mancha a similarly-sited lot is $999k. That right there is crazy pricing and the RE agents on both sides should be wacked upside the head for throwing darts (unless the owners are stuck on an asking price they made up in their head as opposed to what the market is, in which case the agent will just suck it up and smile and take the listing even though there's no hope for sale).

Now add in the price to build a nice 2.5k sq. ft. home on the Brazilia lot, and you're out a million, easy.

Now look at 1200 Columbian drive. It's a spectacular house, 4.5k sq. ft., It's listed at $1.1MM. At a couple hundred bucks per sq. ft, try and replicate that house at that price. Nope. That owner probably gets up every day and puts on a snorkel he's so underwater.

One of the more comparable proxies for what I'm talking about is 1006 San Mateo. Probably about as good as it gets in terms of lot/site to Ponce that is available. Rutenberg's got a spec house listed there for just under $1.2MM for a 2.8k sq. ft. house.

Having looked at a heck of a lot of lots and houses in both BSI and PGI the past few months in person via RE agents, open houses, or seeing them by drive by from road as well as from water (renting a boat and cruising canals), that's my $0.02.