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Author Topic: OT: Question for the Floridians  (Read 1785 times)
Ross
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« on: June 03, 2006, 03:35:39 PM »

What's the real estate market like east of Tallahassee up near the border?  What's the predominant landscape like?  Farmland, rural?  What's the insurance situation like in this area?  Impossible to insure real estate for hurricane damage?  I've pinpointed this area as a possible place to relocate.  I'd be looking to buy some reasonably priced land, just a few acres, and put up a good sized shop.  My plan is to full time for a little while, but I may eventually decide to work the shop commercially doing car and truck service and paint and body work (something I used to do prior to writing ERP management software), so I'd also like to be in an area where this sort of business would survive.  I'd also consider west of Tallahassee in the panhandle provided the insurance companies won't cut me off at the kee caps.  Being closer to the ocean would be adventagious to my

Thanks for any insight.  My plan is to talk to some real estate people in that area and see what is available but I though some of you may be able to give some non biased info  on the area.  If everything works out and I can find some suitable property, I'll probably fly down, take a peek and maybe leave land owner.  The plan is to sever ties to the Northeast by late fall.
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Ace
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« Reply #1 on: June 03, 2006, 04:16:03 PM »

Can't help you too much but I know if anyone, other than a real estate person, can tell you it would be Fred Hobe who lives in Madison and has a shop there at his home. Not sure if he frequents here or not but I know he is on BNO some. As far as land? It's like owning your own gold mine! EVERY parcel of land I have seen or looked at with and without home or structure of any kind has more than doubled. Insurance might be your biggest pitfall. I know there are some companies not issuing any NEW policies because of hurricanes past. I am in Central Florida and have talked to friends all over the state and the word is the same. Everyone down here is saying, the only way to make any profit from anything real estate related is to sell and move north to re-invest. Down here, you can't replace what you sold without paying double or more.

Ace

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Ross
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« Reply #2 on: June 03, 2006, 04:43:26 PM »

Quote
As far as land? It's like owning your own gold mine! EVERY parcel of land I have seen or looked at with and without home or structure of any kind has more than doubled.

It's the same way up here, but I think it's all relative.  I can get 220K for my small ranch that I paid 98K for 6 years ago and from looking around the internet at some listings, I can buy about the same thing down there for about half that.  I don't really want a house though, just some land and a shop.   With insurance being an issue, you'd think in the non-prime locations it would be a buyers market.  I would be doing this with cash, so I wouldn't need to insure.  A friend in New Port Richiey just cancelled his homeowners after they jacked his premium to $4000 per year.

Quote
Everyone down here is saying, the only way to make any profit from anything real estate related is to sell and move north to re-invest. Down here, you can't replace what you sold without paying double or more.

How far north are they going?  Georgia, Carolinas?  To get anything reasonable up here you have go into gods country where it is nearly impossible, or atleast hidiously expensive to build.  A buildable lot is running around 50K an acre, and for that you'll probably have a small fortune in lot prep.  Just no flat buildable lots left here.  Lakefront will set you back 100-200K for less than an acre.  The big spenders are buying entire neighborhoods, leveling everything in sight and building one big mansion.  Last year someone from MA paid over 1M for 3 lakefront houses and leveled them all.  There is now an 8000sq/ft summer home sitting there.
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JerryH
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« Reply #3 on: June 04, 2006, 05:14:32 AM »

Come to PA.  It's out of control.  Less than an acre with a McMansion (3,500 SF home) starts at about $580,000.00.  Oh, you want upgrades?
I've lived here all my life.  Three family members have moved to FL.  They tell me about "homesteading" and taxes.  One acre with a house here -- try over $7k annually for taxes.  With no end in sight of it going down!!

Out of control.
Jerry H.


Quote
How far north are they going?  Georgia, Carolinas?  To get anything reasonable up here you have go into gods country where it is nearly impossible, or atleast hidiously expensive to build.  A buildable lot is running around 50K an acre, and for that you'll probably have a small fortune in lot prep.  Just no flat buildable lots left here.  Lakefront will set you back 100-200K for less than an acre.  The big spenders are buying entire neighborhoods, leveling everything in sight and building one big mansion.  Last year someone from MA paid over 1M for 3 lakefront houses and leveled them all.  There is now an 8000sq/ft summer home sitting there.
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Ace
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« Reply #4 on: June 04, 2006, 06:33:36 AM »

Not sure on taxes but I know that 1 acre with absolutely nothing but dried dead grass on it is going for 95k+.

I have friends that say if you sell down here take your money and run... somwhere north around NC, Sc, Ga, Al, Tn,, the rebel states and be able to replace what you had for about the same money. I don't know this for sure. Just what I have been told!

Doesn't look like I'll be transplanting anytime soon so it doesn't matter. Better half's company got purchased by Fed Ex and looks like she'll be moving on up... for a while anyway! Smiley

Ace
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NCbob
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« Reply #5 on: June 04, 2006, 06:55:38 AM »

The wife and I sold the business in Fort Lauderdale and moved to the NC mountains in '91.  We bought a nice brick home with 14 acres for $135K (then).  About 6 years ago we sold off 7 acres to her son after selling the timber off it and 18 months ago we sold the balance of the property at a healthy profit.  We moved back to Central FL and leased a home for a year.  We knew in 3 months that it was way too expensive to retire in FL so we came back to the mountains.

What a surprise!  In that period while we were in FL the BIG money developers had arrived in western NC and it hit the fan...so to speak.  There isn't a piece of land west of Asheville within reach of the locals anymore.  I'm talking about money the size of the Del Webb and the Villages developers!  What used to be a piece of Heaven has become a living Hell as far as land and home prices are concerned.

If you recall, many years ago Vanderbilt sent his minions searching all over the country for an area which had mild winters and cool summers.  They found Ahseville, NC and he built Biltmore Estates.  Now, it seems, that the rest of the developers have found what Vanderbilt found and they're crawling all over these mountains like ticks on a hound.

We're among the fortunate because of our bus.  We can summer in the mountains and winter in Central FL (we may go full time next summer) and cover all our expenses (barring major breakdowns with the bus) on our S/S income.  Talk about a 'last frontier'!

And should FL weather threaten....Crank 'er up and leave well ahead of the pack.  Sure does appeal to my survival instincts!

NCbob
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Ross
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« Reply #6 on: June 04, 2006, 07:21:59 AM »

Wow....It's tough everywhere.  AL and TN looks to be fairly reasonable from cruising through the MLS.  I'm not looking for a house, just some land for a shop or an existing shop.  There is an 8000sq/ft metal building on 2 acres with living quarters and high overhead doors for $85K in Southern AL.  You could subdivide that into mini-storage to create a little income.  Ultimate bus barn as long as it's not located off in the boonies.  Also saw an existing shop in Plymouth NC for 50K.  Close to the coast so that's a plus and taxes on both were nothing.

The other concern is economic stability of the area.  Could I get a job if I had to?  It's tough up here right now.  One of the largest gun manufacturers in the world has thier manufacturing based here and they have basically been given less than 2 years to get it profitable or they will close the doors.  That will put over 1000 local people out of work.  The working class folks are scared right now.

I think the thing to do is to rent storage for a little while and take my time finding a new place.  Do the workamping thing and travel for a bit.
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DavidInWilmNC
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« Reply #7 on: June 04, 2006, 07:40:02 AM »

NCBob has it right.  Most of NC is way out of control.  Asheville and Wilmington are tied in the top 10 (not sure what position) for home appreciation for 1990 - 2000.  It's gotten even worse since then.  I'd say, from what I've seen, that the Midwest, Southwest, or very rural areas of the South are still affordable.  You want to see expensive?  Look at coastal property in NC or property that has ANY sort of water access.  It's crazy.  My house was built in '41, is 1700 sq ft, modernized, in good shape and appraised for around $135k back in 2002-2003.  Now, similar ones are selling for $225-250k.  I guess I'll have to keep this house that's 12 miles from the ocean and 5 blocks from the river and use the bus as a second/ vacation home.  Home ownership, in nice areas, is so far out of reach for people starting out.  I'm thankful that I was in the market back in '91 and lucked into this house.  Good luck.

David
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FloridaCliff
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« Reply #8 on: June 04, 2006, 11:15:36 AM »

Ross,

The panhandle outside of the few major cities is still small towns and farmland/timber farms.

Away from the coast, out in the country you can still get land for 10K or less up there.

Like anywhere it varies by whats around.

You have to decide what that commutes worth.

Insurance:  An older home will cost you more.  The new building codes require a  lot more built into the structure to protect it from high winds and the difference in rates reflect that.

Again, if your away from the coast(60 Miles or so) its cheaper.

Most of these costs are DEPENDS.

I have friends who think are homes are at bargain prices compared to where they are from.

No state income tax may even out the price of other items from where you are.

This is one of those deals where first hand/in person checking is the only way to get the true picture.

And last, do you just need an address for a check or are you still working?

if just an address its a piece of cake. Grin

Best of luck,

Cliff



 

 
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"There are basically two types of people. People who accomplish things, and people who claim to have accomplished things. The first group is less crowded."
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Ace
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« Reply #9 on: June 04, 2006, 11:31:38 AM »

Ross where is the building on two acres located at in Southern Al.? Are there any pics availlable?

Ace
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Ross
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« Reply #10 on: June 04, 2006, 11:59:11 AM »

Ross where is the building on two acres located at in Southern Al.? Are there any pics availlable?

Ace

They were actually in southern TN.  I found three ranging from 85K tp 109K.  The one for 109K is 7800Sq/Ft, three phase power, central heat and air and living quarters.  It's in Michie, TN on 3 acres.  MLS# 41060-00887

There is one for 95K, 7000Sq/Ft, full bath and office, insulated, high doors, built in 2000 on 1.75 acres in Centerville, TN.  MLS# 41075-04990. 

Then one for 85K in Selmer, TN that is 50x100. MLS# 41055-07504.

I thought that first one was in AL, but I was mistaken.  There are some good land deals in AL but not too much in the way of commercial buildings.

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