Realtors in Florida

A guy I know who lives around the Orlando area says his house went from 800K a few years ago to 1.5 million in value today. I shudder to think what his insurance now is. He is considering selling and coming back to Maryland.
 
Insurance is high here because unfortunately many homeowners have used their policy as a warranty policy. More than half of my neighbors had their roofs repalced over the last few years because they claimed damage due from a very light hailstorm. There are groupd working for contyractors thay prey on things like this, even though our roofs are 20yrs old, they are not designed to last forever. Homeowners who have filed a claim are almost always dropped next renewal and they they are forced into higher priced policies. My policy on my home has not went up more than a few dollars in 10 yrs. I paid for my roof when it needed it and I do all the things a compenetant homeowner should due to protect their investment. You can have your home inspected here for wind miigation and get a huge reduction as well as by installing hurricane shutters or impact windows. This would relate to some of your homes up North that get heavy snows each year, trying to get the inurance to replace your roof after a snow stating that the snow caused damage. Its complete BS and personally I do not feel sorry for my neighbors who took advantage of the system.

As for property taxes, Florida has a 'save our homes' tax program that as long as the house is your homestead, property taxes can not increase more than 3% per year. What that means is that I am paying property taxes based on my purchase price 10 yrs ago, with slight increases only.

So my house is worth about $850,000 my insurance is $2600 a year and property taxes are $5500 year.

TH
 
Tharber said:
Insurance is high here because unfortunately many homeowners have used their policy as a warranty policy. More than half of my neighbors had their roofs repalced over the last few years because they claimed damage due from a very light hailstorm. There are groupd working for contyractors thay prey on things like this, even though our roofs are 20yrs old, they are not designed to last forever. Homeowners who have filed a claim are almost always dropped next renewal and they they are forced into higher priced policies. My policy on my home has not went up more than a few dollars in 10 yrs. I paid for my roof when it needed it and I do all the things a compenetant homeowner should due to protect their investment. You can have your home inspected here for wind miigation and get a huge reduction as well as by installing hurricane shutters or impact windows. This would relate to some of your homes up North that get heavy snows each year, trying to get the inurance to replace your roof after a snow stating that the snow caused damage. Its complete BS and personally I do not feel sorry for my neighbors who took advantage of the system.

As for property taxes, Florida has a 'save our homes' tax program that as long as the house is your homestead, property taxes can not increase more than 3% per year. What that means is that I am paying property taxes based on my purchase price 10 yrs ago, with slight increases only.

So my house is worth about $850,000 my insurance is $2600 a year and property taxes are $5500 year.

TH
Click to expand...
Totally agree.
In Maryland after a run of hail storms here they were so bad I had to get a no soliciting sign.
Nothing but scammers.
 
@Tharber
Hey Mr. Tim

I'd like to get your thoughts...

ICF walls.
I know the obvious benefits but what is the big deal about the structure surviving 200+ mph winds when most roofs are engineered only to 130 mph. Let's not forget the garage door being the first entry point of the wind usually.

Is it just a sales gimmick or are we saying your walls will be intact and all you need to do is structure a new roof. I'm always for using the best products but I'm not really seeing the benefits here over block.
Also the cost is from $40k extra on a small house to well over $100k just on a 3000 + square ft house.

I see a bunch of crazy comments on videos from Florida natives on new inexpensive builds around $300k
Freaking out over LVP flooring and saying no way are they paying that for plastic floors. Do they not understand the concept of LVP?
I'm sure you heard it all..
Thanks
Jim
 
Zee09 said:
I think car dealers- salespeople and realtors are the number 1 cause of IBS in America :p
Click to expand...
Unlike car sales people-Realtors have a challenge of selling a different product every time that walk in to a listing. Even homes a few years old have changes to them. If you sell cars it's the same cars over and over again-even used ones. So if you don't know your product-whose fault is that?

There are complex real estate transactions BTW. Ask me how I know.....
 
Zee09 said:
I see a bunch of crazy comments on videos from Florida natives on new inexpensive builds around $300k
Freaking out over LVP flooring and saying no way are they paying that for plastic floors. Do they not understand the concept of LVP?
Click to expand...

So these people want real hardwood on a slab house in a flood prone area?
 
Zee09 said:
@Tharber
Hey Mr. Tim

I'd like to get your thoughts...

ICF walls.
I know the obvious benefits but what is the big deal about the structure surviving 200+ mph winds when most roofs are engineered only to 130 mph. Let's not forget the garage door being the first entry point of the wind usually.

Is it just a sales gimmick or are we saying your walls will be intact and all you need to do is structure a new roof. I'm always for using the best products but I'm not really seeing the benefits here over block.
Also the cost is from $40k extra on a small house to well over $100k just on a 3000 + square ft house.

I see a bunch of crazy comments on videos from Florida natives on new inexpensive builds around $300k
Freaking out over LVP flooring and saying no way are they paying that for plastic floors. Do they not understand the concept of LVP?
I'm sure you heard it all..
Thanks
Jim
Click to expand...
The only positive with ICF would be insualting factors, time and labor savings. I do not know if in the grand scheme of things that it does any more than that but I am on the commercial side of things. I have developed a few large buildings with tilt wall, which is a pre engineered product that arrives on site ready to go as well as conventional CBS construction. The pay off seems to be around the 100,000 SF range and that is due to labor savings.

You are correct, the failing item during a storm is always going to be the roof. In every instance, a metal or tile roof is superior to anything else on residential, providing proper installation and that is the key in everything down here. I have been in FL since the 70's and other than poorly built shacks, I've seen very little wall damage. The killer is flooding more so than structural defects.

I was in the same boat with flooring until my supplier sent me some samples. I love my LVP flooring and would never go back to wood or tile.

TH
 
Last edited:
Tharber said:
I think this really comes from Northern people expecting what they had back in NY. Wood is great but its not moisture that kills here, its the sand that you track in all the time.

TH
Click to expand...
Great info Tim 👍
Thanks!
 
I have some Florida realtors I watch on YT to support as they are friends.
The comment section gets me fired up.
Always a moron that comes in poo pooing everything and the latest nonsense in the Ocala area is that value house at a very modest $300k will be $100k in just 3 months.

I go in and tell them when it does they still won't be buyers...geez.
 
Zee09 said:
I have some Florida realtors I watch on YT to support as they are friends.
The comment section gets me fired up.
Always a moron that comes in poo pooing everything and the latest nonsense in the Ocala area is that value house at a very modest $300k will be $100k in just 3 months.

I go in and tell them when it does they still won't be buyers...geez.
Click to expand...
There is always someone that thinks they know more than others. I lived in the OCala area for a few years and love it there. I do not see a decline in prices at all in the future.
 
I see a few builders in central Florida resorting to whole houses in the darker biege ceramic tile everywhere.
I hate that tile because it looks dirty and even yellowed when new.
Plus after awhile it's tough on the feet too...
 
My question is the insurance sweet spot 🤔
Palm Coast going west to Ocala.
Same house will be $8000 a year in PC. and insurance in Ocala will be near $1200.

So where in-between can you escape the hurricane rate?
For both safety and economy...
 
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