what are your opinions of the real estate market in florida.Im in CT, trying to buy a home in lake worth,,it s
seems properties are the same prices in both states..but what do you think? Do you think the prices will go down soon in florida?
2006-08-02 07:04:34 · 6 answers · asked by Yenny V 2 in Business & Finance ➔ Renting & Real Estate
Don't bother. I live in West Palm, basically. Florida isn't nearly as nice as Connecticut. The people here are rude and unruly, no one knows how to drive, no one follows the laws of the road, and even in the nicer areas, crime is outrageous. Read www.sun-sentinel.com for a few weeks, and NBC6.net for a few weeks, before deciding to move here... The vast majority of homes are priced ABOVE and BEYOND "outside" of the prospective buyers.
This is for Lake Worth
"The median income for a household in the city was $30,034, and the median income for a family was $35,374. Males had a median income of $24,862 versus $22,971 for females. The per capita income for the city was $15,517. About 15.8% of families and 20.0% of the population were below the poverty line, including 24.1% of those under age 18 and 12.7% of those age 65 or over."
And the average home price is well over 150,000$....
2006-08-02 07:11:23 · answer #1 · answered by sovereign_carrie 5 · 1⤊ 0⤋
I sold my house in Florida last winter because, as another poster mentioned, I could no longer afford my insurance & property tax. I had already refinanced twice, and it just kept going.
Besides the real estate market, there is the job market to consider. As housing prices have skyrocketed, salaries have remained pretty much flat.
You can go to www.citydata.com and read some of the threads for yourself. It is a forum, and there is much discussion about living/working in Florida.
2006-08-02 08:07:06 · answer #2 · answered by Sharingan 6 · 0⤊ 0⤋
I am a mortgage loan officer in TN, I moved from CT to Fl in 85, then moved here to TN in 97.
I am now working with a lot of people who are moving out of FL to TN. The issue is not as much the cost of homes in FL but the cost and availablity of homeowners insurance and the high property taxes. I have heard many stories of people having to sell there homes because there escrows ( insurance and taxes paid monthly with their mortgage) being higher than there princible and interest payments! I also understand that there are only a very few (sorry, don't know which ones) insurance companies that are even writting new homeowners policies in FL due to the huricaines.
2006-08-02 07:33:36 · answer #3 · answered by mbtenn 1 · 0⤊ 0⤋
Try checking out this article: http://www.prleap.com/printer/41106
It has some good facts in the beginning of the article from the National Association of Realtors about the current Florida real estate situation.
2006-08-02 10:14:51 · answer #4 · answered by bigmary2 4 · 0⤊ 0⤋
NOOO! Actually prices are rising fast.. Sorry I live in Florida and there is so much growth going on. I don't think prices will ever go down again... Sorry..
2006-08-02 07:17:42 · answer #5 · answered by Glen t 1 · 0⤊ 0⤋
Right now they are really high I'm FL. Wait a while. They won't see high to you because you are in CT. I know I'm from the Bronx. Trust me what you think is cheap down here is a rip off. WAIT!!!!!!!!!!
2006-08-02 07:08:19 · answer #6 · answered by Love United 6 · 0⤊ 0⤋