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Old 09-06-2007, 07:04 AM
Location: Sarasota, Florida
80 posts, read 323,444 times
Reputation: 38


Originally Posted by JunoAqua View Post
as Lennar paid for all of his closing costs estimsted 12,000 on a 225K house. What a deal right? taxes are 2600 year, 1450 for HOA fees, and 670 for home owners.
That is a GREAT deal for sure.
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Old 09-06-2007, 07:23 AM
3,842 posts, read 9,939,207 times
Reputation: 3201
And they are going to keep on happening. Adams Homes has been offering this incentive. Bank of America is offering this along with no PMI is the buyer doesn't put down 20%.

These deals will probably not get any better, but buyers are going to probably see more of them by builders & some decent, steady banks.
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Old 09-06-2007, 07:28 PM
Location: Sarasota, Florida
84 posts, read 338,584 times
Reputation: 50
Originally Posted by JunoAqua View Post
What a deal right? taxes are 2600 year, 1450 for HOA fees, and 670 for home owners.
$670.00 for home owners insurance!? Yeah, that seems like a deal, all right. I didn't know that premiums could still be that low. I pay TWICE that for just my wind coverage from Citizens. Maybe there's hope afterall...
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Old 09-06-2007, 07:35 PM
Location: Vero Beach, Fl
2,959 posts, read 12,765,595 times
Reputation: 2203
I would love to stand on a soap box and yell "give me a break with all the negativity." Yes there are opportunities here, yes it is what you make of it, yes you do need to be educated - best of luck to you and your cousin.
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Old 09-06-2007, 10:57 PM
99 posts, read 394,117 times
Reputation: 42
Originally Posted by Sarasota_Blues View Post
$670.00 for home owners insurance!? Yeah, that seems like a deal, all right. I didn't know that premiums could still be that low. I pay TWICE that for just my wind coverage from Citizens. Maybe there's hope afterall...
Our new policy is $1,299 on a $570,000 home (just east of 75). Quotes ranged from $1,299 to >$4,500 with similar deductibles, so it appears it is certainly worth the time to obtain multiple quotes.
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Old 09-07-2007, 04:03 PM
Location: Living in Paradise
5,701 posts, read 23,139,717 times
Reputation: 3053
Multiple quotes or using an insurance broker is a superb idea...
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Old 09-15-2007, 11:02 PM
33,360 posts, read 52,891,387 times
Reputation: 19811
my daughter and son in law live in Venice--he bought 1/1 condo there several years ago (when the market was hot) after moving from Atlanta--he travels M-F as quality consultant, working on different projects all over the US--he gets paid a good salary but it is not an easy job...before he married our daughter he just wanted to come home and relax close to the beach and go fishing--basically be on vacation saturday and sunday--

anyway--they married a couple of years ago--she is from DFW area of TX--she teaches elementary school (and took a cut in pay from TX to do it) but was glad to get a job fairly easily....their condo was too small from the day they moved in together but he wanted to be close to the beach and resisted the idea of selling to move into house they could afford which would be away from the beach---
now the market has stalled---they know how hard it will be to sell their condo for what they have in it---he wants to find full time work in Venice area so they can continue to live there--but it is not going to be easy for him to find a job that pays anywhere near what he is getting now...there are some jobs in his line of work around Tampa area but he would prefer not to drive an hour or more each way to work every day...

Margaritaville is just a state of mind from what I can see in Venice area---most people have a difficult time making a decent standard of living to support a family---my daughter had two teachers at her school last year who had to quit and move back out of state where they came from because they could not afford to get decent housing in Venice area --- even with a market slump FL teachers don't get any kind of decent money with the price of health insurance and other expenses...

I just wish he had been willing to sell his condo right after they married when the market was still moving and just rent for a while...
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Old 09-16-2007, 11:36 PM
Location: Leaving Florida soon. Woo Hoo
174 posts, read 638,970 times
Reputation: 47
I don't think anything sounds very positive about hitting up ones 401k for a down payment on a house that has a high probability of getting foreclosed on and losing the chunk that was saved for the future for a potential bad investment. I don't get a warm and fuzzy feeling by this post but my reality alarms are going off like crazy.

30k a year goes no where especially where more than half of it goes to pay his mortgage and what is left over will pay his electric bill and HOA. He will need another job and a spouse with a full time job or three jobs to pay for all necessities.

I don't say kudos I give my condolences instead. I agree lets hear back in a year. I am sure the story will be drastically different and sad.

Jobs here are not hard to get if you look, the quality and pay is what is lacking.

This whole story reeks of subprime lending.
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Old 09-16-2007, 11:59 PM
Location: The Conterminous United States
22,583 posts, read 50,663,218 times
Reputation: 13548
What's he bringing home? $400 to $550 a week? And his mortgage is $1,400?
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Old 10-11-2007, 07:33 AM
4 posts, read 9,014 times
Reputation: 10
Default Yes, it really is THAT bad !

Originally Posted by JunoAqua View Post
I would just like to say that despite all the negativity and gloom and doom regarding sarasota/venice/ areas in relation to jobs and housing my cousin has finally acheived home owner ship and employment in this area in ONLY 2 months after moving from New Jersey after losing his job. I am amazed at the poor gllom and doom picture that is painted of the SW area of Florida on this board. I understand everyone has their own opinions and skill sets, but my cousin purchased a home in Venice,FL Lennar homes and will be working for Publix distribution center starting next week on Clark Road in Sarasota $12-18/hour. His daughter goes to a great school in Taylor ranch of Venice and I am proud of him that he made the transition and succeeded despite the many negative opinions on this area. See it CAN BE DONE. Hard work determination and perseverance pays off. He moved from NJ with NO job and bought a home before he even landed this job with some of his 401k Venice lennar homes. Is is really that bad here, my cousin made it look easy.
It does seem he made it look easy. I have a Masters Degree from the University of Michigan, my husband has a Bachelors Degree from Ferris State University. We are good people, and have never lived wildly extravagantly. Yet, due to the market as it is...my husband was laid off (he is a builder/project manager in the construction industry). He has been out of work for 8 months. He has submitted no less than 50 resumes in ALL of the state of Florida for ANYTHING he can do. This includes working at Home Depot, Publix, etc. NOTHING. The other builders in the area that owe us money has said...too bad, and refused to pay us. We are looking at foreclosure on our home, we can not at times afford groceries, our electric bill, we have had our phone shut off, etc. Should two degree'd professionals, who have always worked and made good decisions with their money be in this situation ?????? My daughter would say not and asks daily why our lives are like this. Yes !!!! It is that bad !!!!!!!!!!
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