Absolute house insanity (Tampa, Sarasota, Holiday: incomes, cost, vs)

[cjairo191]

Originally Posted by MOforthewin

IF I could afford a 10 million dollar house why the hell would I want to live in Tampa? I'd live in Venice or Naples. Even one million I'd live in Sarasota or Venice. Why would you spend 700k on a dump like that just to be close to the Bay?

I live in Punta Gorda and 700k here in Charlotte County would get you TONS better than that.

How far is a good international airport from there? How far is a professional sports team from there? How far are the concerts from there. Shopping etc.... Oh yeah, How far are good jobs from there?

[JMatl]

[quote=MOforthewin;63140877]

Originally Posted by gypsychic

Sarasota and Charlotte county are one and two for oldest median age in florida. Depends on what area of the county. The southern half of sarasota county not much different. Cant tell the difference when crossing into North Port. Venice you notice it more cause it's becoming like Naples.

I find Bradenton down to Naples kinda boring due to the age population however the traffic and layout of tampa metro is god awful. Want nothing to do with it

Different strokes, but despite the traffic you're in the minority here. Even though Charlotte County is booming, look at the population differences between it and Hillsborough & Pinellas. Even though they're already substantially larger, they're booming as well. Tampa in particular is on fire, and is becoming a jobs machine.

[MOforthewin]

[quote=JMatl;63142450]

Originally Posted by MOforthewin

Different strokes, but despite the traffic you're in the minority here. Even though Charlotte County is booming, look at the population differences between it and Hillsborough & Pinellas. Even though they're already substantially larger, they're booming as well. Tampa in particular is on fire, and is becoming a jobs machine.

Hillsborough County also is huge in terms of square miles wise which factors into the large population too.

[JMatl]

[quote=MOforthewin;63142725]

Originally Posted by JMatl

Hillsborough County also is huge in terms of square miles wise which factors into the large population too.

It's more related to the County being anchored by Tampa, location and economic activity. The fact that there is still attractive elbow room is a huge bonus.

[EngGirl]

I noticed one interesting detail lately - most 5-6 y.o. homes in the area that are on the market now have a disclosure of house being recently painted.
Since we purchased out first new built house in this area nearly 20 years ago and after that we were told house needs to be maintained outside (meaning taking care of stucco cracks, power washed and so on) on annual basis however no need to repaint house for 10-12 years.
What is going on with all these relatively new homes being freshly painted for sale during SELLERS market (when you basically doesn't need to lift a finger to get your house sold way over what you paid 5 years ago)?
I am not talking about 1 house, or 2, or 3.... In some communities every house being listed was recently painted.
Anything interesting going on regarding quality of recent construction? I found it very interesting.

[JMatl]

Originally Posted by EngGirl

I noticed one interesting detail lately - most 5-6 y.o. homes in the area that are on the market now have a disclosure of house being recently painted.
Since we purchased out first new built house in this area nearly 20 years ago and after that we were told house needs to be maintained outside (meaning taking care of stucco cracks, power washed and so on) on annual basis however no need to repaint house for 10-12 years.
What is going on with all these relatively new homes being freshly painted for sale during SELLERS market (when you basically doesn't need to lift a finger to get your house sold way over what you paid 5 years ago)?
I am not talking about 1 house, or 2, or 3.... In some communities every house being listed was recently painted.
Anything interesting going on regarding quality of recent construction? I found it very interesting.

Are a lot of these being painted white with black trim or similar, i.e. the newly popular modern farmhouse style? This seems to be extremely desirable in certain markets lately...people can't seem to get enough of this up here, both renos and new construction.

[yyuan010]

As an investor, I can share some of reasons why I have been buying real estate in the Tampa metro:
1. Price - While the Tampa metro is a very desirable place to live when compared to other second tier cities, such as Austin, Phoenix, Nashville etc, the median price in the Tampa metro ($400K) is about the national average. I believe the housing price has been under-valued in the past. If you look at historical price, you may think its current price is insane. However, if you compare it to other comparable cities, it is lower than these cities listed.
2. More people are moving in from other states, not just those retired, but people in working age due to
a. booming job market
b. more people work from home so they live anywhere they like
3. Tax - Florida has no income tax. The property tax is relatively low. Texas is about 2.5% whereas Florida is about 1.3%.
4. Within Florida, it is cheaper than Miami. The difference between Tampa and Orlando seems very small. While I think Jacksonville probably have more upside due to its lower price currently ($300K), I chose to relocate to Tampa, so I would like to buy properties near where I live.
5. Cash flow - All the rentals I have been buying have positive cash flow. I plan to hold them for many years...I believe I will have positive cash flow and significant amount of appreciation in the future.

[Chickrae]

Originally Posted by MortonR

Prepare yourself. Inventory is non-existent and it's a buyer's market, with properties getting bid up. I would add that the investors are active as well, as we've seen two homes in our neighborhood get purchased in cash sales by investors in the last two months, which was pretty amazing considering the prices ($400k-$500k range).


The last one (sold for $455k) went under contract in three days and closed in two weeks. I haven't seen the deed yet, but it almost had to be an institutional investor and I'm betting the house will be a rental.

RM

I am finding whatever house I look at is pending by the next day and they say because 1 in 3 homes sold is to investors. I am looking at a home currently and the owners will not accept investors for some reason.

Originally Posted by LKJ1988

Even in west Pasco it's crazy. All them homes that sat empty for 10 years are bought up. What was 20k for a dump near the gulf is now 250k. Just good luck with flood Ins.

I am not from Florida but want to move there, so interested in why the homes sat empty for 10 years?

Originally Posted by MortonR

Yup. Relative that has lived in Holiday since the early 90s and paid something like $60k for their 800 sf 2BR/1BA block house is looking at $187k on Zillow. I believe that's a bit inflated, but anything north of $150k would be a windfall, for sure.

RM

Is Holiday a nice place? I see several homes for sale there

[LKJ1988]

Originally Posted by Chickrae

I am finding whatever house I look at is pending by the next day and they say because 1 in 3 homes sold is to investors. I am looking at a home currently and the owners will not accept investors for some reason.




I am not from Florida but want to move there, so interested in why the homes sat empty for 10 years?



Is Holiday a nice place? I see several homes for sale there

West Pasco county was the hardest hit in the country and very run down. Plus no one could get Ins on a house west of US19. What very homes were worth over 500k sold for less than 200k and the small 2bedroom homes were selling for 20k back around 2012. Holiday is not nice and that is why homes are the cheapest in the state. 90% renters.

[MOforthewin]

Originally Posted by LKJ1988

West Pasco county was the hardest hit in the country and very run down. Plus no one could get Ins on a house west of US19. What very homes were worth over 500k sold for less than 200k and the small 2bedroom homes were selling for 20k back around 2012. Holiday is not nice and that is why homes are the cheapest in the state. 90% renters.

Why being so close to the Gulf the houses are so cheap and crappy? Is it because there really is no beach, just sewalls, rocks and mangroves unlike SWFL for example that actually h as sand beaches.