RIP Florida real estate

[Anonymous]

Anonymous wrote:

Anonymous wrote:We have a home in FL a few miles from the ocean. We don’t shop around for homeowners and only use USAA. Our FL property homeowners is cheaper than our VA property. We have coverage that will make us whole if there were a catastrophic event in the area because we would work with reputable USAA vendors. We are immediately reimbursed for food loss in refrigerator/freezer and hotel is covered if power is lost.
It’s easier to complain than do your research.

What's your flood zone?
Sadly your situation does not match my family's over there. insurance skyrocketing, then having to rely on Citizens, then Citizens threatening to drop because a private insurer *could* offer insurance at a much greater price than Citizens, and so on. They are also on an island in miami so they must get flood insurance that keeps increasing (when the house is paid off in a few years they'll self-insure as many do over there). I dont have (or expect) much sympathy because they are literally on a flood zone and first to be evacuated when a hurricane is near but a lot of family friends that live on the mainland also have had this happen to them to the point where they cant afford the insurance premiums.

And dealing with the insurance after Irma was a royal PITA. I don't know how regular people do it: we had to pay upfront for repairs and then constantly pester the bank to release that money to get reimbursed. it was like pulling teeth. thank goodness we had the needed cushion, otherwise we would have had to wait months for the basic roof repairs

We are not in a flood zone that requires FI. Our premium went down last year. But after reading this post I am going to look into wind insurance.

[Anonymous]

Is is Risk 2.0 jacking Flood insurance on prefirm grandfathered properties combined with rapidly rising home and wind insurance hitting at same time as new reserve requirements and stricter building codes

[Anonymous]

So many crazies on this thread.

Hint 1: Hundreds of thousands are moving TO, not FROM, Florida.

Hint 2: If you think it's too expensive or complex to own a house, there's a revolutionary approach you can take: RENT.

[Anonymous]

If I had the desire to buy in Florida I would wait until after this hurricane season as ocean temps are in uncharted areas and we just dont know what that will do to storms.

[Anonymous]

Anonymous wrote:If I had the desire to buy in Florida I would wait until after this hurricane season as ocean temps are in uncharted areas and we just dont know what that will do to storms.

Brother, you’re gonna have such a surprise when I tell you that hurricanes occur every year, not just this year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If I had the desire to buy in Florida I would wait until after this hurricane season as ocean temps are in uncharted areas and we just dont know what that will do to storms.

Brother, you’re gonna have such a surprise when I tell you that hurricanes occur every year, not just this year.

Homie, you're gonna have such a surprise when you see that Hurricane Beryl is the earliest category 5 on record and that the water temps are way above even statistical anomalies. You can keep repeating these lines about "oh we've seen this before" or "this happened once in 1958" until you can't anymore. I'm young enough to wait and see but there's no way I'd be buying anything in the southern US let alone Florida, I'm looking at land in the mountains close to farm lands.

[Anonymous]

I lived in a flood zone from 2020 to 2018.

What cracked me up was empty land or farm land pre flood insurance in 1938 and in 1938 the storm nicknamed Long Island Express was one of the most deadly in history with winds up to 150 mph and my house not yet build was under 6-9 feet of water.

But my town was all built post WWII and this pre flood insurance so no record kept of flooding.

My house in Sandy in had several feet of water and of course that event recorded.

But interesting a vacant lot near my old house built 2018 is listed as no flood history and ironically not in a flood zone, that plot was under six feet of water in Sandy.

A lot of new construction Florida who knows of flooding history. No one tracks vacant land much as no claims or flood insurance.

Next big storm who knows

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If I had the desire to buy in Florida I would wait until after this hurricane season as ocean temps are in uncharted areas and we just dont know what that will do to storms.

Brother, you’re gonna have such a surprise when I tell you that hurricanes occur every year, not just this year.

Homie, you're gonna have such a surprise when you see that Hurricane Beryl is the earliest category 5 on record and that the water temps are way above even statistical anomalies. You can keep repeating these lines about "oh we've seen this before" or "this happened once in 1958" until you can't anymore. I'm young enough to wait and see but there's no way I'd be buying anything in the southern US let alone Florida, I'm looking at land in the mountains close to farm lands.

You can’t base this year’s hurricane season to “time the market” and buy next year in Florida, if you wanted to. You were the one with the lead-paint eating comment. Florida is exposed to hurricanes every year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If I had the desire to buy in Florida I would wait until after this hurricane season as ocean temps are in uncharted areas and we just dont know what that will do to storms.

Brother, you’re gonna have such a surprise when I tell you that hurricanes occur every year, not just this year.

Homie, you're gonna have such a surprise when you see that Hurricane Beryl is the earliest category 5 on record and that the water temps are way above even statistical anomalies. You can keep repeating these lines about "oh we've seen this before" or "this happened once in 1958" until you can't anymore. I'm young enough to wait and see but there's no way I'd be buying anything in the southern US let alone Florida, I'm looking at land in the mountains close to farm lands.

You can’t base this year’s hurricane season to “time the market” and buy next year in Florida, if you wanted to. You were the one with the lead-paint eating comment. Florida is exposed to hurricanes every year.

Brosef, I’m saying I’d wait to see if these “hurricanes every year” become stronger due to warming waters. Yes if we remain normal then Florida is fine, if this is the coldest water we will see in the next decades and it’s creating monsters then you gotta rethink it. We all wait with bated breath. I wish Florida and the gulf the best. Again being young I’m in a much different mindset than those in Florida who got to live their lives in another era. Must be nice to have the peace of mind that even if their policies destroyed the climate they’ll be dead before the worst of it. I’ve heard many many Floridians and conservatives state just that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If I had the desire to buy in Florida I would wait until after this hurricane season as ocean temps are in uncharted areas and we just dont know what that will do to storms.

Brother, you’re gonna have such a surprise when I tell you that hurricanes occur every year, not just this year.

Homie, you're gonna have such a surprise when you see that Hurricane Beryl is the earliest category 5 on record and that the water temps are way above even statistical anomalies. You can keep repeating these lines about "oh we've seen this before" or "this happened once in 1958" until you can't anymore. I'm young enough to wait and see but there's no way I'd be buying anything in the southern US let alone Florida, I'm looking at land in the mountains close to farm lands.

You can’t base this year’s hurricane season to “time the market” and buy next year in Florida, if you wanted to. You were the one with the lead-paint eating comment. Florida is exposed to hurricanes every year.

Florida (and the rest of coastal US from NC to TX) is exposed to hurricanes - and serious flooding - every year. But hurricanes - and their floods -are getting worse. You can pretend otherwise if you like. I'm not.

[Anonymous]

Anybody trying to sell a condo in south Florida these days? How bad is it? Might have to help my mom sell hers, lot of assessments coming up and won’t be able to afford it

[Anonymous]

Anonymous wrote:Anybody trying to sell a condo in south Florida these days? How bad is it? Might have to help my mom sell hers, lot of assessments coming up and won’t be able to afford it

Join the (large) club. It's going to be tough to sell condos. I would say that the sooner you can list, the better.