RIP Florida real estate

[Anonymous]

Is Northern FL (Jacksonville area) having the same problems?

I know there are very plaintiff-friendly, often abused laws that drive up homeowners insurance costs...but wondering if Northern Fl is considered less a weather/flooding risk (or not).

[Anonymous]

Anonymous wrote:Is Northern FL (Jacksonville area) having the same problems?

I know there are very plaintiff-friendly, often abused laws that drive up homeowners insurance costs...but wondering if Northern Fl is considered less a weather/flooding risk (or not).

It's all relative. It still has a high water table and no elevation and it's only a matter of time. Blame plaintiff friendly often abused laws, it's not a good place to build a home and hasn't been for awhile.

[Anonymous]

Anonymous wrote:Is Northern FL (Jacksonville area) having the same problems?

I know there are very plaintiff-friendly, often abused laws that drive up homeowners insurance costs...but wondering if Northern Fl is considered less a weather/flooding risk (or not).

LOL no.
Old timers in that area are just laughing their heads off.

I am from Florida. Flooding is everywhere.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Is Northern FL (Jacksonville area) having the same problems?

I know there are very plaintiff-friendly, often abused laws that drive up homeowners insurance costs...but wondering if Northern Fl is considered less a weather/flooding risk (or not).

LOL no.
Old timers in that area are just laughing their heads off.

I am from Florida. Flooding is everywhere.

Sorry...when you say "LOL no"...are you saying Northern FL does not have the same problems as Southern Florida? That is why the old timers are laughing their heads off at the Southern FL folks?

[Anonymous]

Anonymous wrote:Is Northern FL (Jacksonville area) having the same problems?

I know there are very plaintiff-friendly, often abused laws that drive up homeowners insurance costs...but wondering if Northern Fl is considered less a weather/flooding risk (or not).

The insurance market is state wide. If Miami gets hard hit, premiums in Jacksonville are going up to cover the loss. Smart insurers are leaving the state entirely. I recently saw an add for home owners insurance pitching no coverage in Florida as a reason premiums would stay low

[Anonymous]

If you look at the construction of large high-rise condos over the past decade, the first 4-8 floors are above ground parking garage. You don't even get to the "lobby" until 9th or 10th floor of the building. And then the condos stretch from the 11th floor up to the 40th/50th/60th floor.

The ground level is simply a nice elevator bank, landscaping, and concrete. Lots pumps you can't see to move water away from the building.

This is the only way I would own a place in Florida. It will be all vertical and off the ground. The underground parking garages all around Miami are getting flooded out - you'll see videos on social media of floating Lambos and G-Wagons in brown water in the parking garage, completely ruined - a total loss.

It's insane.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Is Northern FL (Jacksonville area) having the same problems?

I know there are very plaintiff-friendly, often abused laws that drive up homeowners insurance costs...but wondering if Northern Fl is considered less a weather/flooding risk (or not).

It's all relative. It still has a high water table and no elevation and it's only a matter of time. Blame plaintiff friendly often abused laws, it's not a good place to build a home and hasn't been for awhile.

I am not trying to blame plaintiff-friendly laws...but I keep reading stories about basically tons of fraudulent roofing claims. I don't understand the fraud involved, but it seems FL specific.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is Northern FL (Jacksonville area) having the same problems?

I know there are very plaintiff-friendly, often abused laws that drive up homeowners insurance costs...but wondering if Northern Fl is considered less a weather/flooding risk (or not).

It's all relative. It still has a high water table and no elevation and it's only a matter of time. Blame plaintiff friendly often abused laws, it's not a good place to build a home and hasn't been for awhile.

I am not trying to blame plaintiff-friendly laws...but I keep reading stories about basically tons of fraudulent roofing claims. I don't understand the fraud involved, but it seems FL specific.

Yeah, well, the political system is effed... I'm not trying to get political here, so I won't say who is to blame, but it has a legislature and executive that for the last 60 years has been highly malleable and has created all sorts of bizarre perverse incentives. It's another reason to avoid that state.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is Northern FL (Jacksonville area) having the same problems?

I know there are very plaintiff-friendly, often abused laws that drive up homeowners insurance costs...but wondering if Northern Fl is considered less a weather/flooding risk (or not).

It's all relative. It still has a high water table and no elevation and it's only a matter of time. Blame plaintiff friendly often abused laws, it's not a good place to build a home and hasn't been for awhile.

I am not trying to blame plaintiff-friendly laws...but I keep reading stories about basically tons of fraudulent roofing claims. I don't understand the fraud involved, but it seems FL specific.

The roofing was Florida Specific. Florida law provided for roof replacements (repairs were disallowed) after storm damage. If the insurance companies denied the claim, attorney's fees were provided by statute. Roofing contractors used to go door to door after a storm selling news roofs. They passed a new law in 2021 pulling back those rules.

[Anonymous]

Anonymous wrote:I get that the overwhelming sentiment on this board is to hate on Florida and on the political stuff I generally agree.

But this is bad.

No it's not. You choose to live in a high-risk area. So pay for it.

[Anonymous]

I’m so glad that insurance companies are finally fed up. I’m paraphrasing from a college class I took decades ago, but before federal insurance in the early 20th century, only cheap fishermen shacks existed at the beach. Why? Because nobody was stupid enough to build a house where it would definitely get blown away. Once somebody else would pay for that nonsense, we started getting ridiculous beach communities. I’m very ready to go back to a time when it’s important to build in safer areas. I got laughed at right here on dcum when I talk about considering get above sea level when moving. It’s something everybody should consider. Low-lying houses near the water increase everyone’s rates.

[Anonymous]

So, does coastal Southern GA have the same problems, or does being in GA result in better insurance options?

[Anonymous]

Anonymous wrote:So, does coastal Southern GA have the same problems, or does being in GA result in better insurance options?

Georgia's insurance laws aren't bat S*%t insane. The same goes for the coasts of Mississippi and Alabama. The places experience this are Florida and California

https://www.latimes.com/california/story/2024-03-23/state-farm-wont-renew-72-000-insurance-policies-in-california-worsening-the-states-insurance-crisis

[Anonymous]

Anonymous wrote:I’m so glad that insurance companies are finally fed up. I’m paraphrasing from a college class I took decades ago, but before federal insurance in the early 20th century, only cheap fishermen shacks existed at the beach. Why? Because nobody was stupid enough to build a house where it would definitely get blown away. Once somebody else would pay for that nonsense, we started getting ridiculous beach communities. I’m very ready to go back to a time when it’s important to build in safer areas. I got laughed at right here on dcum when I talk about considering get above sea level when moving. It’s something everybody should consider. Low-lying houses near the water increase everyone’s rates.

This is why I am trying to understand Northern FL. I was surprised when visiting Jacksonville that there are many neighborhoods with homes from the late 19th and early 20th century. It doesn't look anything like Southern FL.

I assume that it is because that area hasn't had hurricanes or flooding.

[Anonymous]

Anonymous wrote:If you look at the construction of large high-rise condos over the past decade, the first 4-8 floors are above ground parking garage. You don't even get to the "lobby" until 9th or 10th floor of the building. And then the condos stretch from the 11th floor up to the 40th/50th/60th floor.

The ground level is simply a nice elevator bank, landscaping, and concrete. Lots pumps you can't see to move water away from the building.

This is the only way I would own a place in Florida. It will be all vertical and off the ground. The underground parking garages all around Miami are getting flooded out - you'll see videos on social media of floating Lambos and G-Wagons in brown water in the parking garage, completely ruined - a total loss.

It's insane.

Yeah but those beach towers aren’t sitting on bedrock like in Manhattan. The geology is like Swiss cheese filled with water. The shoreline changes with a big hurricane and just a few years of erosion and that’s curtains for them. Maybe someone will resort to actually floating structures there.