Interesting article: CHEAP condos...$25,000???

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Doug, what most FL homeowners policies do is have a really high (something like 10%) for hurricane deductable (might be 5%, I'd have to look at my policy - I currently own a home and a condo....but live in an apartment in VA - go figure!)......

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You buy a condo in Fl plain on never being able to sell it..the market down their is as bad as it gets. Had a small house on the beach down in Cape Coral and was very lucky to get out when i did. Still talk to sum of my old pals down their and they say housing market is falling at alarming rates.

What beach ? The only beach in Cape Coral is the 300 foot wide beach at the yacht club.
 

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Doug, what most FL homeowners policies do is have a really high (something like 10%) for hurricane deductable (might be 5%, I'd have to look at my policy - I currently own a home and a condo....but live in an apartment in VA - go figure!)......

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I'm about 3 miles from the ocean on the east coast of florida and my hurricane deductable is 5%. with that said I have the cheapest homeowners of anyone I know and mine is about $1000 a year. Homeowners quotes vary greatly here. I called probably 10 places a few months ago and my quotes where anywhere from around $700 to over $3200.
 

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Easy, my house is a little farther than 3 miles (around 8). I'm pretty sure the deductable is 5% for hurricanes. I don't live in a flood zone, so no flood insurance needed. Mine is around $1100 through USAA - which is probably the best insurance around. My condo and renter's insurance is around $65/year each. I actually just made a claim on my renter's insurance (had my bicycle stolen a few weeks ago).

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For those not aware of a 'hurricane deductible'....if you have a home valued at 200k and a 5% Hurricane DED and have a covered loss due to hurricane, you are responsible for the first 10k in damages. So if you have a 20k loss, you are only going to get paid 10k after repairs made.
 

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I have a condo in the Ft. Lauderdale area that is selling for $30,000. 2 bed-2ba. My friend had to get rid of a $100,000 condo near the same area, and it got bid down to 10,000. They wouldn't sell it for that so they rented it out.
 

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bootsnixon -

that 6673 burbage property you just posted went under contract on June 29th.. It was listed at 40k, and said on mls a 'complete fixer upper'.. It was only 3-4 years old, but some people purposely damage these houses beyond belief.. Nice floor plan as I looked at some in the same community with some clients.. Decent area too, only about couple miles from where I live.. About 10-15 mins from airport.. There were $47/month HOA also..

Realtor.com is a good site, but way behind as far as sales go.. This is a great market price wise, so most good homes go within a week or two.. Some last a month but anything on the market beyond 30 days is probably overpriced or in rough shape..
 

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You buy a condo in Fl plain on never being able to sell it..the market down their is as bad as it gets. Had a small house on the beach down in Cape Coral and was very lucky to get out when i did. Still talk to sum of my old pals down their and they say housing market is falling at alarming rates.


How about a house then ? Florida house for the elders type of deal ?

If Shit gets cheap enough, then it can always become a retirement place, maybe not NLV, but Summerlin fits !
 

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You buy a condo in Fl plain on never being able to sell it..the market down their is as bad as it gets. Had a small house on the beach down in Cape Coral and was very lucky to get out when i did. Still talk to sum of my old pals down their and they say housing market is falling at alarming rates.

LOL ... still waiting to hear where your "beachfront property" was in Cape Coral, a city that has no beach (other than the small man-made beach at the yacht club).

And the real estate market in Cape Coral isn't "falling at alarming rates". That was 2008 and 2009. Prices aren't falling any more, they have levelled off ... and although they haven't really started going up yet, inventory is way down, unit sales are almost double what they were last year, and the percentage of sales that are "non-distressed" sales (not foreclosures or short-sales) is substantially higher than last year.
 

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have a condo and a house on the beach that will be mine eventually. they will be worth peanuts. space program packin it up among other things. unreal.
 

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Houses built in 2007 with 1,000 more square feet are only going for 100K. Why not just pay the extra 15K for a newer and bigger home?

I'm in the looking on the computer stage right now. Present house is listed as of today. I have to sell that first then get serious about Vegas when I get there.

I really don't need 2,000+ SF, have 1334 now and it is too big. 2br is plenty.

Vegas homes seem to be all house and no yard. Your yard might be .05 acres of rock.
 

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have a condo and a house on the beach that will be mine eventually. they will be worth peanuts. space program packin it up among other things. unreal.


Where? Just curious. Seems like houses on the beach in CA will not be worthless anytime soon unless it is in a rough area.
 

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LOL ... still waiting to hear where your "beachfront property" was in Cape Coral, a city that has no beach (other than the small man-made beach at the yacht club).

And the real estate market in Cape Coral isn't "falling at alarming rates". That was 2008 and 2009. Prices aren't falling any more, they have levelled off ... and although they haven't really started going up yet, inventory is way down, unit sales are almost double what they were last year, and the percentage of sales that are "non-distressed" sales (not foreclosures or short-sales) is substantially higher than last year.

Guy take it easy!!! I had the house on the innercoastal right next to cape coral yacht club..street add was off of driftwood. Sorry it it wasnt right on the beach but then again didnt think some guy was ganna get all upset and start pulling out geography maps. I was just trying to give my oppion and what its like down there. Now please go find someone else to question!!!!!!!! O and let me guess your prob a realator putting your spin on things..come on down things r turning around...get in now while the going is good etc type shit. LOL!!
 

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Guy take it easy!!! I had the house on the innercoastal right next to cape coral yacht club..street add was off of driftwood. Sorry it it wasnt right on the beach but then again didnt think some guy was ganna get all upset and start pulling out geography maps. I was just trying to give my oppion and what its like down there. Now please go find someone else to question!!!!!!!! O and let me guess your prob a realator putting your spin on things..come on down things r turning around...get in now while the going is good etc type shit. LOL!!

I can tell that (1) you aren't that old, (2) you aren't that bright (million spelling mistakes), and (3) you probably never lived in Cape Coral (or if you did, it was when you were a kid).

People in Cape Coral with waterfront property don't live on the "innercoastal" (sic). They say they have property either (1) on the river, (2) on XYZ canal, or (3) on XYZ lake. The intracoastal (proper spelling) is a term that is used in other areas of Florida that don't have the extensive and well-developed man-made canal system that Cape Coral has. Technically, the Caloosahatchee River up to Lake Okeechobee is part of the intracoastal waterway, but anyone living on the river says that they live on the river ... not on the innercoastal.

So my guess is that (1) you are making this story up, (2) your parents/relatives had property there and sold it, or (3) someone else you know had property there and sold it. I suppose there's a slight chance that you inherited some property and sold it, but that's unlikely. One thing I know for sure ... you never lived there, or certainly haven't lived there in a long long time.

And no, I'm not a realtor, but I do know the area, and am on the lookout for properties there at the moment.
 

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