Opinions Please - South Venice area (Tampa: new house, buy, construction)

[Cardiff by the Sea]

I admit I have not read the long posts above, so my question/point may be irrelevant. I think I remember reading that houses in flood zones have limits on the value of improvements that can be made. You probably are not considering a flood zone, but since your husband wants a fixer, he need to be aware of that issue.

[sware2cod]

Originally Posted by Cardiff by the Sea

... I think I remember reading that houses in flood zones have limits on the value of improvements that can be made. You probably are not considering a flood zone, but since your husband wants a fixer, he need to be aware of that issue.

This only applies to homes that are in high risk flood zones (A, A*, V, V*) with elevation of lowest finished floor that is BELOW FEMA's required elevation. This accounts for approx 20% of homes in high risk flood zones. This means that approx 80% of homes in high risk flood zones have no restrictions on value of improvements. Usually (but not always) it's older homes that are more likely to be below FEMA's BFE...such as pre-1974 homes. However, some pre-1974 homes are above FEMA's BFE. And when maps change, any age home is subject to be below BFE.

[coastal chic]

Originally Posted by Old Gal

I have found one property that is in Venice Gardens that is definitely a fixer upper. I can tell by the photographs that it definitely needs a new roof. My question would be when you add the roof would the roofing company be responsible for bringing the tie downs up to code? I know here in Texas that would be the case but Florida isn't Texas - so lots of questions that may sound stupid.

Fixer uppers can be a problem for anyone who intends to finance and/or insure the property. Most insurance companies require a Four Point Inspection on older homes (25 years is usually the cut off) which examines the 1) electric, 2) Roof, 3) plumbing, and 4) HVAC systems. If any of those systems have defects, they must be corrected before the policy is issued. Let's say the roof needs to be replaced; the insurance company won't write a policy until the roof is replaced. BUT....the seller won't replace the roof, and the buyer won't want to pay for a new roof before closing on the house....so the buyer would need to close on the home, go without insurance until the roof is replaced, and then hope and pray nothing happens. It's a risk. And if you plan on financing the home, the lender will require insurance before you close. If you can't get insurance, then you can't get the loan. If you're not financing the property, and are pretty comfortable taking risks, homes with bad roofs can be purchased at a very good price. I bought one in 2011 that needed a new roof and went through the exact scenario I just described.

To answer your question about whether a roofer is required to bring the tie downs up to code....the answer is no. Tie downs are not part of the roof, they are part of the structure. A roofer CAN update the tie downs if requested, but it is not a standard thing. It can be pricey because they would have to remove the soffits, or plywood, to access the tie downs. Either way, it is labor intensive.

Roofers are now required to remove all shingles and renail the decking, which is a fairly new requirement; I think the renailing requirement started around 2009? This renailing equates to BIG savings for insurance. Until 2009, "roof-overs" were fairly common. Or, if they did tear the shingles off...they didn't have to renail the roof deck. So the homes built in the 80's and early 90's still likely have staples holding the roof deck to the trusses, even with a "newer" roof.

Your "perfect" older home would be made of concrete block, have a hip roof, a permitted roof replacement after 2009, and in flood zone X that needs some cosmetic updating.

In all seriousness, though, there are good deals out there for fixers. But if you intend to finance, you have to be more diligent in finding homes where the systems, and especially the roof, are in good shape or have recently been replaced.

I know several people who live in South Venice. They love it! The location is really pretty perfect. The difference really comes down to economics. In South Venice and Venice Gardens you'll have more middle class families and blue collar workers and retirees. There isn't a "crime ridden" area anywhere in Venice that I know of....so as far as crime goes, you're safe pretty much anywhere in Venice.

[Old Gal]

Thanks coastal chic. You answered a bunch of questions and some I didn't even know I had. The "plan" is to pay cash. So we could "roll the dice" a little bit and get those things done quickly and then get insured.

It's nice to know that South Venice and Venice Gardens are safe. We don't need fancy or large just a quiet neighborhood with decent neighbors. We're trying to downsize since we currently own a home that we don't use but maybe half.

[dpbarr2000]

Anyone who is in real estate would know that yes they are "pricey", and that the cost of retrofitting a roof to get a better insurance rate would take over 15 years to recoup in savings.

[Weather Man]

Moving to Florida. Checked out all the Gulf Coast areas in every way possible. Looking for a home close to gulf breeze and sunsets on the beach. Closing soon on a large refurbished home in South Venice only 1 1/3 miles from the beach for an incredible bargain price. Especially incredible because the crime rate in Venice is so low and the home prices are so low for being so close to the coast. Being an objective person, Florida weather is a big factor for me. Especially since I want to live there year round. Obviously, home buyers are ignorant of remarkable coastal weather pattern differences. They're buying newer properties further inland and enduring much less desirable weather on reclaimed swamp. They're overlooking the bargains on older homes built on naturally higher ground close to the coast. These homes were built there first because they're in much more desirable locations! Duh! My son has been in the boat rental business in Tampa Bay for years. He knows the weather inside out because rain and clouds cost him business. He says buy as close to the beach as possible, and don't consider anything more than 3 miles from the coast. My son checks the dopplar radar several times a day. He knows the St. Pete Beachfront area weather is significantly better than even where he is located on the bay at the convention center. The further inland, the more time and days of clouds and rain and the less breeze...Period. I can't believe that people pass on homes in much better locations just because they don't want to spend a few bucks on updating, or that they are deterred by dealing with well water and septic systems (which are low maintenance and which will eventually be replaced by city services anyway!) And as far as the extraordinarily high percentage of whites in Venice, I guess I'll just have to endure diversity within the white population!

[George Tirebiter]

Hey Weather Man,
Thanks for posting this, even though the last comment was over 2 years ago.
We've been considering South Venice, and even though we have a limited budget, we want to be close enough to the beach to take regular advantage of it.
We've lived with septic and survived, even in Mexico, as I'm sure you understand.
Your son's suggestion to stay out of the swamp lands, and within 3 miles of the ocean, is much appreciated.
It matches my thoughts exactly.
Cheers

[Old Gal]

This is an old thread. We purchased a house over two years ago and have lived in S. Venice for two years. My suggestion would be to be careful of individual streets and even that can change. The main reason is that you may wind up with neighbors who do not maintain their property. Getting Sarasota County to enforce codes is not easy around here even when there is code to be enforced. Englewood Water District is in the process of completing a small project that brought city sewer to some homes here. It isn't complete yet so you would want to check on the individual property to see if you are part of that project. It is as a whole nice and quiet in S. Venice. It is for the most part pretty much a working class neighborhood interspersed with some higher end homes however it is still affordable.

[loves2read]

When we were shopping 5 yrs ago, we drove through S Venice and saw some listings for sale but the neighborhood was not attractive for us...no HOA meant mostly junky neighbors from what we saw...
We bought in Nokomis--right off 41 and not that far from the Gulf...in an HOA neighborhood
And I know that is not everyone's cup of tea--so to each his own...
But even that short distance doesn't catch as much of the Gulf breeze as our SIL's condo off Esplanade on Venice Island...

Just make sure you have flood insurance...and quality homeowner's...

[Old Gal]

S. Venice can be a little challenging in terms of finding the "right street". My husband is adamantly against HOA's. Unfortunately, Sarasota County is not very good about enforcing "code". I do have a feeling that is about to change a tad. We are not as close as Venice Island to the coast nor are we fancy by any stretch of the imagination however we are about a mile as the crow flies from the Gulf in many places and almost always have a nice gulf breeze. It is truly beautiful and even if it isn't "the island" it is still very very beautiful. Just start house hunting and keep hunting until you find the right property for you. loves2read is right about the insurance thing.