condo prices in florida

dmcummins · 11-04-2008, 08:30 AM

I have been thinking about buying a condo in Florida. It seems that the prices are starting to be reasonable. I see that it doesn't seem to hard to pick up a one bedroom on the beach for $100 to $150 grand. Of coarse off the beach is even cheaper.

Does anyone have a condo down there or have any suggestions on areas to buy. Things to watch out for. I may spend two to three month a year down there as I'm not to fond of the winters here.

I'm also not against texas or other areas that have mild winters.

URY914 · URY914's Garage

Florida has a lot of coastline. South Beach is a whole lot different than Clearwater Beach. You better narrow your location down a little for us.

dmcummins · 11-04-2008, 08:45 AM

Quote:

Originally Posted by URY914

Florida has a lot of coastline. South Beach is a whole lot different than Clearwater Beach. You better narrow your location down a little for us.

That's part of the problem, I'm not that familier with florida. My dad has a place down there on the big lake that I can't spell. But he likes to go crappie fishing everyday. I'm more into golf and laying around by the pool or beach.

I'm planning on going down this winter and just looking for ideas on areas to look into. I don't want to be in the bigger citys, Jacksonville, Miami, ect.

GG Allin · GG Allin's Garage

Quote:

Originally Posted by dmcummins

Things to watch out for.

Alligators.

targa911S · 11-04-2008, 09:17 AM

I would wait until after tourist season (April/ May). Prices will keep falling, and there are plenty to choose from. But watch out for maintenance fees they are the killer there.

URY914 · URY914's Garage

Middle Atlantic coast or south of Sarasota to Ft Myers is probably the least $$$ beach property. Jax Beach and the Panhandle is too cold in the winter.

berettafan · 11-04-2008, 10:07 AM

Just be aware that financially strapped owners and bank owned units do not make for well maintained buildings.

I also would NEVER buy a condo without having an engineer do an inspection on the entire place first. Many sad stories out there about fly by night builders and contractors (something Florida seems to attract) doing a lousy job and not being there when warranty claims come in.

dmcummins · 11-05-2008, 08:02 AM

Thanks for the suggestions. I think I'll look into the Sarasota to Ft. Myers area first. I plan on going down this winter for a week or two. I'm definatly in no hurry and will probably change my mind anyway. I guess I also need to look into how much seasonal rentals would run.

Thanks.

Racerbvd · Racerbvd's Garage

St Augustine is a nice area too

dmcummins · 11-05-2008, 08:10 AM

Quote:

Originally Posted by Racerbvd

St Augustine is a nice area too

It's on my list. I have been through there a few times and had a good time.

berettafan · 11-05-2008, 09:37 AM

Quote:

Originally Posted by dmcummins

I guess I also need to look into how much seasonal rentals would run.

Thanks.

Apparently a LOT of folks that bought condos in our town overestimated on that.

Robert Adams · Robert Adams's Garage

I've own a villa in Venice, which is about 20 minutes south of Sarasota on the Gulf, for 10 years or so. I think the suggestions doing your due diligence is definitely warranted. The new construction is or wasn't inexpensive to purchase and tends to be inland from the beach. A lot of the older homes/condo's/villas are located nearer the beach, shopping and the downtown area and were constructed in the 70's so most need up-grading. For many reasons I think this is the way to go. Buying older gets you a better location and once done the renovations, you know exactly what you've put into the place from a quality stand point. Labor tends to be reasonable, but I'm used to paying NY-NJ prices.
The Venice area is an older community and I highly recommend it for several reasons. The biggest being they have not been hit by a hurricane; ever. The native population prior to the 18th century used the area as a safe haven from bad weather. Not to say we don't get storms, high winds, etc, but nothing like what the East Coast gets or even south of Port Charlotte and south or above Tampa.
That said, it's no South Beach and the architecture is nothing to write a book about. The island does have quite a few spanish infulenced buildings both public & private. It tends to be quiet and you need to go to Sarasota or Tampa for cultural events, sports or night life. Although there are some some local places in downtown Venice and the surrounding area that are terrific fun for a night out and a good value for the buck. Boating and fishing are all around you as the inetrcoastal divides the town of Venice from Venice main land. There is a small airport in South Venice that caters to a strong European influx of vacationers. So when you're out on the beach or shopping you'll hear quite a few different languages being spoken. Most housing has come down about 40% from what it was 18 months ago and seems to have leveled out. A lot of this situation was due to over building and the inventory is starting to move. Real-estate predictions seem to be saying things are starting to come back and they are expecting a decent 08-09 season. Remains to be seen. For more info here is a decent site to start: http://venice-fla.com. Venice is a well kept secret.

Happy shopping!