How can I buy a condo for cheap in florida?

Oct 23rd, 2013, 04:27 AM
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My ex insurance Co said they were trying to recoup the Sandy losses. any co with limited exposure to Sandy will be cheaper.
Katzgar is offline  
Oct 23rd, 2013, 07:14 AM
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We pay it through our mortgage so will have to see if they say give me more money! I have lived her since 87 but only have been forced to pay since building this house 12 years ago. We live in a flood zone now but 18,000 in dirt to build our house up off the crown of the road has been perfect for hurricanes and tropical storms.

We changed insurance companies also when the price double. I put this in this thread because some people might be shocked by our insurance prices here and if you live in a flood zone your mortgage company makes you buy fema flood insurance. I think everyone should buy it. Look at how many flooded inland from Sandy and now Colorado.
flpab is offline  
Oct 23rd, 2013, 07:27 AM
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The flood insurance situation in Florida changed significantly on Oct 1. Most owners will see an increase of only -- only!-- 20% or so, but when they sell, the property will lose the subsidy that used to keep the cost artificially low. Which means rates can double, triple, quadruple and on up when a property is sold.
NewbE is offline  
Oct 26th, 2013, 03:36 PM
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Wow, thanks for that Newbe. Yep, we should be getting that letter!
flpab is offline  
Oct 27th, 2013, 01:59 AM
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I suspect there are more than a few people who got tired of subsidizing people's flood insurance through taxes, especially those people who had flood insurance on non-primary residences.
Dukey1 is offline  
Oct 31st, 2013, 01:47 PM
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I can beat that! Ours went more than tripled in one year. And we've never filed a claim and have a huge deductible. Thanks Florida legislature (in the pockets of insurance companies such time began)!

I hope that people reading this who want to buy "cheap Florida real estate" carefully consider ALL the costs involved.
dsquared is offline  
Nov 3rd, 2013, 11:20 AM
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My friend who is in real estate said they have called this off and are doing a feasibility study so we have a little time to sell and get out!
flpab is offline  
Nov 3rd, 2013, 12:09 PM
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Sell to WHOM??????
Dukey1 is offline  
Nov 4th, 2013, 10:50 AM
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Maybe to any of the rapidly increasing buyers entering the Florida real estate market or increasing their investments there?
NeoPatrick is online now  
Feb 16th, 2014, 05:24 AM
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For what it's worth, I would not buy into a condo unit with a HMO association. I own two rentals in different places with different HMO associations and both have problems with management of the funds. For that reason I would buy whatever you can afford as a single family home and rent out with the help of a property manager.
nanabee is offline  
Feb 16th, 2014, 02:39 PM
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But Nanabee, I'd wager just as many people have issues with property managers ( who generally cost a LOT for absentee owners) as they do with HMOs. I've owned five condos in Florida and never had a problem with an HMO, but both property managers I hired for myself were nightmares. Of course research should be done on the HMO before buying a condo.
NeoPatrick is online now  
Aug 18th, 2015, 02:29 PM
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OMG, buyer beware of buying in Steinhatchee. You get what you pay for.

But nice attempt at a scam ad!
NeoPatrick is online now  
Aug 18th, 2015, 05:23 PM
Join Date: Oct 2003
Posts: 57,890
"Peace and Quite". Quite what? And "condo's"?

And agree - sounds charming:

"A small fishing village with one red light"

And apparently the school system is funded by the tickets for the red light.

Also can't read the rules of the board.
nytraveler is offline  
Aug 18th, 2015, 05:27 PM
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Yea haw, yes, nytraveler, the description gives a good idea of the educational level of people who live there. Did you note? These are glorified motel rooms, not homes. Did you note the "kitchenette"? My favorite part is that the charm includes being surrounded by hunters with guns in season!
NeoPatrick is online now  
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