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TigerNet Champion [121141]
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110%er [3625]
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Re: Those of you who do not believe in the "Climate Hoax"
Nov 1, 2023, 7:13 PM
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Needs a complete renovation too.
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TigerNet Champion [121141]
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it needs a 30k refresh
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Nov 1, 2023, 7:17 PM
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this should be between 800k-1200k depending on the age of the building.
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Clemson Conqueror [11525]
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Re: it needs a 30k refresh
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Nov 1, 2023, 9:05 PM
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It is for sale cheap because home insurers in FL are fleeing the state as if they were young men in the Ukraine being conscripted to fight in the stalemate.
Thank goodness that DeSantis has started cracking down on the insurance fraud that has been murdering insurers in FL.
BTW, want a nice new, high priced roof on the TBalm crib? Maybe there is still time to respond to one of those ‘have we got a roof for YOU’ ambulance chaser type law firms.
I don’t think that DeSantis has gotten all of this insurance fraud cleaned up yet.
But back to your OP.
Beach front insurance is (at best) unaffordable and (at worst) unavailable in FL.
Interestingly enough, while insurance rates for beach front property in AL, GA, SC, and NC is soaring, you can still get it.
State of FL has got to get this fraudulent roofing claims problem fixed, or else the exodus from FL will start in earnest.
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Orange Blooded [2395]
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Re: it needs a 30k refresh
Nov 3, 2023, 9:20 AM
[ in reply to it needs a 30k refresh ] |
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Insurance is through the roof and the new legislation from the Surfside building collapse is going to kill the condo market in FL
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National Champion [7701]
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Re: Those of you who do not believe in the "Climate Hoax"
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Nov 1, 2023, 7:16 PM
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Well if your "half dozen or so" properties are supposed to prove your point I'll point to the literal hundreds of thousands of beachfront properties in this country that are worth more than at any point in history to prove the opposite. Good troll though since I'll give you the benefit of the doubt of not being stupid enough to believe your own post.
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TigerNet Champion [121141]
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Re: Those of you who do not believe in the "Climate Hoax"
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Nov 1, 2023, 7:17 PM
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that is not the correct answer
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Orange Blooded [2395]
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Re: Those of you who do not believe in the "Climate Hoax"
Nov 3, 2023, 9:20 AM
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actually it is
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Oculus Spirit [43148]
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doesn't have anything to do with climate change
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Nov 1, 2023, 4:10 PM
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there are million dollar condos for sale right next to that building. Barrier Islands are rough. They are nothing but sand bars that are always moving. That area of Florida actually doesn't get hit much by hurricanes, but it's still Florida.
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TigerNet Champion [121141]
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probably true, if it was built after '92
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Nov 1, 2023, 7:32 PM
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But the correct answer is that there is nobody in the private market that will insure this property, or investors would be stabbing each other in the eyeballs to get this unit. And Hutchinson Island is not a sandbar, you only have to drive the piles a max of 40 feet to hit limestone.
Message was edited by: Tigerbalm1®
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Clemson Conqueror [11525]
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Re: probably true, if it was built after '92
Nov 1, 2023, 9:15 PM
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Ooops.
I didn’t read far enough down to see this post of yours (immediately above) before making my previous response.
Fraudulent roofing damage claims have been murdering FL insurers. This roofing claims fraud had spread like fire ants throughout the SE USA, but FL is ‘ground zero’ for this problem. Insurers throughout the SE have gotten creamed by this, I put it’s worst in FL.
DeSantis has supposedly gotten legislation passed to address the roofing fraud problem, but that doesn’t help much for the insurers who have already fled FL.
I think that it is fair to criticize DeSantis for not getting after this sooner. But first, priority needs to stay on high heel boots.
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Paw Master [17193]
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Building on a barrier island was dumb millions of years ago.
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Nov 1, 2023, 7:20 PM
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That’s why they are called “barrier islands”.
Libs be Daf.
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All-Time Great [90469]
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Wait..just so I'm getting this right...
Nov 3, 2023, 10:09 AM
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Are you saying that "Libs" are the only people that build or live on barrier islands?
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Ultimate Clemson Legend [108416]
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Probably has corroded steel beams that were recently discovered
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Nov 1, 2023, 7:50 PM
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since Florida is so slack they have condos fall from a lack of inspections. They're catching up inspecting buildings and many more have been condemned or cited since that major collapse.
That would be my #1 concern.
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110%er [3625]
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Re: Probably has corroded steel beams that were recently discovered
Feb 20, 2019, 7:43 PM
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I was also thinking about that collapsed building down in Surfside, Fl.
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Ultimate Clemson Legend [108416]
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They've upped inspections and found a few others.
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Nov 1, 2023, 7:56 PM
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Several with issues, and one or two they condemned I think.
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TigerNet Champion [121141]
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And the Winner is Tiggity
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Nov 1, 2023, 8:22 PM
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that one was built at the same time as Surfside, 40 years old. It would not take the wind loads if something came through here. Funny, I take the island to work and pass dozens of these towers, and most are shuttered up all year. But if you can come in cash and are willing to risk it, then you can have ocean frontin Florida for next to nothing. Neil is right, this part of the coast never gets hit, but there is a 30 year prediction that 200+ mile-an-hour winds could come through here.
Message was edited by: Tigerbalm1®
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110%er [3625]
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Re: And the Winner is Tiggity
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Nov 1, 2023, 8:36 PM
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I said the same in few words. Geez...thanks.
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Starter [290]
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don't need insurance
Nov 1, 2023, 8:08 PM
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pay cash and insurance is optional. It's so cheap, self insure and start partying!
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Top TigerNet [30613]
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$603 / month HOA ? Is that due to the climate change too ?***
Nov 1, 2023, 9:22 PM
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Paw Warrior [4999]
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Re: $603 / month HOA ? Is that due to the climate change too ?***
Nov 1, 2023, 10:18 PM
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Per month?? Good grief no thanks!
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110%er [3625]
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Re: $603 / month HOA ? Is that due to the climate change too ?***
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Nov 1, 2023, 10:26 PM
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That's actually pretty good down there.
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Paw Warrior [4999]
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Re: $603 / month HOA ? Is that due to the climate change too ?***
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Nov 1, 2023, 10:40 PM
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Wow! I guess that’s why I choose to live in the sticks. No way I’m paying a dime of HOA fees.
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TigerNet Champion [121141]
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Re: $603 / month HOA ? Is that due to the climate change too ?***
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Nov 2, 2023, 7:57 PM
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600 is amazing on the coast, That money goes into maintenance and repairs. People pay 600 just to have a swimming pool, and tennis courts in gated communities that are nowhere near the water. If you want on a golf course or yacht club, you generally have to make a 50k-200 nonrefundable deposit on top of HOA and the asking price.
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Paw Warrior [4999]
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Re: $603 / month HOA ? Is that due to the climate change too ?***
Nov 3, 2023, 12:55 PM
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I think I’ll just pass on all HOA fees.
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Campus Hero [13551]
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Humans dont cause climate change.***
Nov 1, 2023, 10:21 PM
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Tiger Titan [48978]
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its not a "hoax" but it is not also the imminent calamity of Algore's wet dream
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Nov 2, 2023, 8:41 AM
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If only I had time to use it, I'd buy a ground level wood framed conch house in Key West tomorrow.
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TigerNet Champion [121141]
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Good luck buying in Key West, 3 months just to get a motel room lol
Nov 2, 2023, 7:52 PM
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But It is not sea level rise that will impact us the most, at least in our lifetimes, it is the increased wind and rain the storms bring. The younger generations certainly have more cause for concern. But the point of this thread is that the insurance companies sure as hell take this stuff seriously, enough to pull out of the state altogether and leave homeowners out in the cold. What was cited on that property was the potential of wind exposure and the probability of building failure.
1 year ago you could not find a property listing that did not flip in 24 hours in my county, now Zillow is littered with 30 day listings. I imagine a lot of these folks went in a variable rate, some lost insurance or they are investors that feel pretty stupid right now with prices dropping in Florida and long term fixed rates at 8%.
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Legend [6710]
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Re: Good luck buying in Key West, 3 months just to get a motel room lol
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Nov 2, 2023, 8:16 PM
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So dinky axx 1,000 sq. ft. condo going for $400K = Climate Change.
Got it.
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Paw Warrior [4999]
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Re: Good luck buying in Key West, 3 months just to get a motel room lol
Nov 3, 2023, 6:21 AM
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Don’t forget the $600 per month dumb ### fee.
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All-Time Great [90469]
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Florida has a big problem with insurance, both houses and cars
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Nov 3, 2023, 10:07 AM
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Car insurance for many has tripled in the last 3 years, and HO insurance has doubled in the same amount of time. Insurance rarely, if ever, goes down. I'm not sure how many will be able to afford to insure in a few years. They had a pretty big scam going for new roofs by shady contractors a few years ago, and it broke many insurance companies and ran them out of Florida.
I looked at buying a house in Marathon last year, and between taxes and insurance, I was about $35K/year in before I had even bought the house. I had to nope that right out of my bucket list.
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