House Prices

[Jethro1984]

Hello All,

I just got hired as a Trainee by an agency in South Florida and I am having some serious culture shock going on right now (I am from Ohio). One of my life's goals is to afford my own home but they are so expensive in South Florida. My question is this. For the other South Florida officers on here, do you own a house? If so, how do you make ends meet?

[Lawseeker]

Don't get down...

The housing market is horrible down here (for sellers), and although South Florida cost of living is generally high, there are some deals. Home prices continue to fall.

Depending on the location of your particular dept. you might be able to find a deal. Perhaps more so along the lines of a townhome. You won't be finding anything beachside but if you do your research and have realistic expectations, you might get lucky and find a decent starter home.

Good luck with your new career.

[Mikis]

One of my life's goals is to afford my own home

.......Then don't move to South Florida (unless your wife/significant is a doctor). Yes prices are coming down, but property taxes and insurance will kill you. Expect working MASSIVE amounts of OT to make ends meet [if you don't buy a small condo or rent]

[JPGT_00]

I feel your pain. Im going through the same thing.

[dogma vs karma]

just move to martin county or north of there and the houses go down 150k or so. average house in brevard is 200k.

[damode]

If you want a home in South Florida

Move to the hood

Or

Find a spot what we Miamians like to call "Efficiencys". They are littered all over Hialeah

Ive been trying to get out on for the past 6 months, and looking whats out there

I might be stuck with the Mom and Pops longer than i expected :(

[TampaDevilDog]

Great post about taxes and insurance. How about this one, my Escrow is the same as my Principal and Interest. Please do yourself a HUGE favor and look at your property tax amount and remember, in FL, your home is reappraised after 12 months of residing there. Meaning you don't pay the same tax that the former home owner paid except for the first year. 3 Years ago my Property Tax went up $4,000 overnight. :eek: . Talk about sticker SHOCK!!! Do your homework before buying and the Tax Appraisors websites will give you real numbers. Taxes differ county to county... Go inland and the taxes drop considerably.

[njsurfer]

I personally think south florida is a DEAL. Im from NJ and live in southwest florida and i just bought a brand new 2660 sq foto condo with a two car garage for under 200K, you cant even buy anything decenti n NJ for anything under 250K so in my opinion its a deal.

[italyn]

I used to do real estate before i got into LE. The market right now is the best time to buy, but you need to go west. It depends on what you value also, how much you wanna spend on a mortgage. How much you are going to put down. I am looking at buying a house but i a gonna have to go west. Like coral springs or mirmiar places like that.. i own a condo now but for a house with a yard i am going west and i want a pool and a garage.

PS there are a lot of forclosures on the market now.. you can find houses that are not that bad except for the taxes and insurance.

[TampaDevilDog]

Not in my neighborhood surfer... The Homes that go between 450K - 700K and the Prop taxes range from $9,000 to $14,000. Welcome to Hillsborough County my friends...:D

I have a rental, a small condo in a very popular area worth about $225000. Property Tax - $4,000. How about that??? It sucks but without state income tax, someone has to pick up the slack for all of the renters and non-home owners not contributing to the Tax base... Oh yeah, Prop Insurance...Well everyone knows that story...

Just be a smart and educated buyer...;)

[italyn]

Just be a smart and educated buyer...;)



that is the key.. my condo is like 1/2 mile from the beach a little one bedroom and it is like maybe worth $200k but and old lady just sold hers for $145000 so that is going to kill all the comps in my complex. but i might just rent mine out and buy a house anyways.. i can get a 5/3 with a pool for about $399k

[TampaDevilDog]

Renting is a great idea in your situation. I would love to sell my condo right now but the market is DEAD. Not saying the prices are dropping quickly, it's just the buyers are not there as the inventory is HUGE.

I have tenants paying rent on my condo, but it does not cover the entire mortgage and expenses, but the taxes are the problem. MY condo is 800 sq ft and I pay $4,000 in Prop Taxes. Not even close to the beach, it;s just in a HOT area in South Tampa... Sounds like you are doing your homework...

[NorwichGrad05]

I personally think south florida is a DEAL. Im from NJ and live in southwest florida and i just bought a brand new 2660 sq foot condo with a two car garage for under 200K, you cant even buy anything decent in NJ for anything under 250K so in my opinion its a deal.

I agree with you there!! I'm from New York and houses out here are crazy! They want 600K for a house in East New York (the HOOD, ever see Death Wish 4? that neighborhood). Miami houses are highly priced the further you go out, but I think its honestly relative to where you're from. If the avg. house costs 700k-2 million, a high property tax ain't looking that bad! Doing your homework before everything and talking to natives of the area definitely helps..

[crimefighter]

Till they figure these things out there are reasonable places in other parts of FL. I have 1.30 acres in North FL on the market reasonably priced for anyone interested??? My Home owners insurance is less than a grand a year for a 3/2/3 which was built in 2005 and meets CAT3 Andrew standards. Private chat me for additional otherwise continue your quest further North for better prices, taxes & insurance rates.......BSAFE