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Joann - Lehigh Acres

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  • #31
    I agree with you Homestead sucks. It's has some rough neighborhoods but so does city of Miami where I live. The redlands is nice though and many people live there who have means to live anywhere they want.

    As for the affordability problem if it wasn't for the fact that FHA has withdrawn their approval of about 90% of the condo units on the market we would be able to sell alot more affordable homes.

    I am working with 2 clients now who need FHA loans and I have only been able to show them 2 or 3 units that meet their needs because almost all the communities are not FHA approved or have withdrawn their approval. That is certainly not helping matters at all. How can we recover if we can't get homes sold with the only financing available to many people.

    Maybe taxes are affordable for you but I pay $4000 a year for a 1 bedroom condo. Hardly affordable. I also pay $5000 a year for my mothers insurance and taxes are $4000 for a home only worth about $275K. Again, hardly affordable. Especially for her who is on a fixed income. If it wasn't for me subsidizing her she'd be in Section 8 housing.

    As for the stimulus money there is a scam going on right now rampant in Hialeah and latin communities in Dade county where people are getting the stimulus money and buying cars, going to Cuba, buying flat screen TV's and whatever else they want. Don't ask me how they are getting the money but they are getting it and not spending it on houses. It was a good program in theory but the abuse is unbelievable and just another government program out of control.

    I am sad to see what has become of my city and South Florida in general. The houses are heartbreaking to enter a brand new home stripped to the studs and trashed. It's such a waste of resources. I wish I had an answer to what ails us. Hopefully our Savior Obama can do miracles.

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    • #32
      This has nothing to do with the Lehigh area but I'm from New Jersey and we have a large group of newly retired couples who spend several winter months in Florida, mainly in the Fort Myers area. A retired coworker and his wife have been going for several yrs and decided to look for a condo to buy since the prices are low. They found a condo that had originally sold for $250K and was offered for $80K. They discussed it and when they went back to put in a bid, the real estate agent it was now listed for $60K. They bought immediately. Good for them, a terrible situation for the original owners.
      Kay H

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      • #33
        That's because no one can get financing for condos unless you've got 30-50% down and even then it's a struggle to get a bank to do the loan.
        So much for affordable housing.
        The cheap stuff isn't available to those with little down payments so it just perpetuates the lack of affordable housing.
        If I could get my clients an FHA loan I could sell them something that is half the price of what is available FHA. For example right now I would have to sell them a condo which is $155,000 with a $200 maintenance fee and $3500 taxes instead of a more affordable condo at $50,000 with a $300 maintenance fee and $1200 taxes. Does this make any sense?

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        • #34
          As I've said before, we did not buy a house in January for less than $70000 because taxes and insurance would be over $8000. Add a property manager and it would be a pretty expensive winter place. compared to timesharing.

          That & a couple weeks of Florida at a time is about our limit.
          RCI Member Since 24-Aug-1989/150-plus Exchanges***THE TIMESHARE GRIM REAPER~~~Exchanging/Searching/SW Florida/MO/AR/IA/Consumer Advocacy/Estate Planning/Sports/Boating/Fishing/Golf/Lake-living/Retirement****Sometimes ya just gotta be a dick

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          • #35
            Originally posted by JLB
            As I've said before, we did not buy a house in January for less than $70000 because taxes and insurance would be over $8000. Add a property manager and it would be a pretty expensive winter place. compared to timesharing.

            That & a couple weeks of Florida at a time is about our limit.
            You are so right. That's why I own timeshares too because it just doesn't make sense for me to own a condo on the beach in Florida and I can afford one but don't see the sense in paying for an empty place that I will only use on weekends in the summer. I have better uses for my money like having fun and eating out and visiting new and exciting places and of course visiting Mickey.
            My cousin bought a house on Sanibel for 400K and they hardly ever go and can't even rent it for enough to subsidize their time there. Yet for some reason they always seem to find time to come and hang out with me at my timeshare in Hollywood just north of us by 30 minutes. Now they are trying to sell the house. Fat chance that will happen any time soon.

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