flipper's getting forked in Florida

[onethatcares]

according to one of the news channels the housing market is cooling hard in the west central area . They interviewed a few folks that said, "Yes, we bought and invested (remodeled) thinking we could sell in no time and now we're stuck with condos and houses that no one wants due to inability to gt insurance and taxes going up"

I say, and you can quote me, "F...Them!"

[LeftInTX]

1. Poor Flipper!!!

[mucifer]

2. I bet they all blame President Biden and give their psycho governor and trump their votes.

[mcar]

3. If you can afford a home in FL,

you cannot afford the homeowner's insurance.

We've been here 34 years. Home's almost paid off, homeowner's has tripled in 2 years. And we are not in a danger zone, natural disaster wise.

Our neighbors have been flipping mobile homes in West Central Florida for the last 10 years and have done quite well with it. They are leaving the business because they cannot sell their last 3 places.

It's an untenable situation and Gov. DeathSentence and his minions have done nothing to help.

Then there's climate change - which the FL government can no longer mention.

[MOMFUDSKI]

4. That is bullshit. I could sell my condo

for $450K tomorrow. Just had 4 or 5 sold in my condo complex in last month.

[onethatcares]

5. Kewl, who's buying?

Just asking, not arguing. Who's buying the 450K condos and where are they getting their exterior insurance?

[MOMFUDSKI]

11. Northern $$$ is buying. Some have another

home north. Exterior insurance is paid thru the Association. Currently $699/mo for ins, water, lawn/pool maintenance, et al.

[llmart]

14. Hmm...$699 a month? That's outrageous.

My condo monthly fee is $130 a month and my house would sell for $425 today. Thankfully I'm in Michigan. You couldn't pay me to live in Florida.

[MOMFUDSKI]

15. Being that my condo is paid for where could I

rent a 2 bed, 2 bath, 4-car garage for $699/mo? Insured to the inside walls.

[ananda]

7. Climate change denial has consequences.

...

[Warpy]

8. Rent 'em out, charge snowbirds through the nose

and just wait a few years. If sinkholes don't get them, the pries will have risen.

Florida real estate is always boom and bust. I spotted the last bust 2 years before it happened. Spotted the boom 4 years later.

Mostly I look to be grateful I didn't move there.

ETA: These people aren't flippers, who buy good housing, hold it off the market, and then cash in during a boom. These people do the work of taking on wrecks, updating everything, doing often expensive repairs, and making it look like new. They earn every bit of profit they gety.

Flippers suck. Rehabbers are great.

[MOMFUDSKI]

12. Had 1 bust in 2008. Price has tripled since

that bust.

[3Hotdogs]

9. Can you get a mortgage if you can't get insurance?

what would be the cost of insuring a $400k dwelling?

[MOMFUDSKI]

13. If you have a mortgage you must have

insurance. Don’t know the cost.

[flashman13]

10. And you just didn't see this coming. Boo Hoo

Just wait until the sea level rise really kicks in.

[Johnny2X2X]

16. Almost 48% of Floridian voters voted for Biden in 2020

People put a whole damned state in 1 bucket. Florida is flippable, Biden can win it in 2024, there are a lot of good people in Florida who are victims here.

[Hotler]

17. Nature of the free markets, no whining. nt