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A mass exodus of people are leaving Florida


Sep 2, 2006 @ 2:33 PM A mass exodus of people are leaving Florida    
Kenn159


Posts: 3,656
After 2 back to back years of hurricanes,skyrocketing taxes and outrages homeowners insurance rates along with the doubling of the prime interest rate from 4 to 8 percent in the last two years ,many people cant afford to keep their houses and are leaving in droves.
The estimates are that 1000 people are leaving a day,which cuts in half the number of 2000 people that are still moving here.
At this point it looks like Florida population growth has been cut by 50 percent and its looking like that this population reduction trend will continue, furthermore reducing the numbers of people that are moving here and increasing the numbers that are leaving until a number of the factors that are driving them away change.

Im leaving this up to you to decide if this is a good thing or not.
If you typically complain about over crowding and traffic gridlock and unrestrainded growth ,then you probably think this is a good thing.
If you are on of those trying to leave the state but cant because you cant sell your house ,your not liking this very much.

Below is just one more example of this trend in todays paper.



Waterfront Homes Flood The Market
NEW PORT RICHEY - The full-page advertisement in the Gulf Harbors Civic Association's newsletter was a desperate plea to homeowners.

"WHY IS EVERYONE SELLING?

MORE HOMES FOR SALE MEAN LOWER PRICES!

STOP SELLING!"

The appeal was not as surprising as the woman who submitted it: one of the affluent subdivision's most successful real estate brokers.

"The signs are going up faster than they're coming down," said JoAnn Milano of Century 21. "The market is suffering."

Her advice to Gulf Harbors homeowners: Unless you need to sell, don't.

"People are starting to take their properties off the market because they're not selling, and that is driving down prices," she said. "I'm telling them to wait."

The slowdown of waterfront property sales in this seaside subdivision - long a haven for northern retirees - is the "perfect storm" of rising insurance premiums, climbing interest rates and a sluggish real estate market, Milano said.

Nowhere is the market downturn more evident than along Floramar Terrace, where rows of "for sale" signs are sprouting like mushrooms in front of well-groomed houses.

In Gulf Harbors, Gulf Harbors Woodlands and Gulf Harbors Sea Forest, nearly 200 homes are on the market. Only a handful of them are selling, Milano said.

Since January, only 33 homes have been sold in the three neighborhoods, compared with about 145 homes sold in the area during the same period last year.

The houses on the market range from megamansions on West Shore Drive, one recently listed at $4.2 million, to modest single-family houses listed at about $134,000.

Another factor in the Gulf Harbors housing crisis was the unintended consequence of a recent crackdown on short-term rental properties in the deed-restricted community.

In December, the county attorney's office sent letters to dozens of homeowners warning that the county planned to start enforcing a 1999 law limiting short-term rentals.

Complaints About Tenants
The county attorney's office got involved after receiving numerous complaints from residents and the Gulf Harbors Homeowners Association about the revolving door of tenants, many of them with out-of-state license plates, late-night parties and disruptive boaters.

But the move prompted homeowners and real estate investors who were renting out their properties to sell, dumping more than 50 houses onto the market earlier this year.

Milano said that translated into bad news for sellers. "It's a buyer's market now," she said. "That's if you can afford it."

Still, the abundance of houses for sale west of U.S. 19, from Hudson to Holiday, masks a broader trend: People are moving away from the densely populated part of Pasco County in droves. Some of them are migrating to Hernando and other northern counties. Many are leaving the state.

'Killing The Housing Market'
The story is the same with other subdivisions west of U.S. 19 - Holiday Lake Estates, Sea Pines and Westport in Port Richey - where "for sale" signs line the streets.

Much of it has to do with rising insurance rates.

"The state's insurance crisis is killing the housing market," said Chris Kowalczyk, vice president of the nonprofit citizens advocacy group Homeowners Against Citizens, referring to Citizens Property Insurance Corp.

Kowalczyk, who lives in Sea Pines just north of Port Richey, said many residents are leaving Florida because they cannot afford the skyrocketing homeowners premiums.

"In my neighborhood alone there are more than 100 houses on the market," he said.

The sluggish market is a dramatic turnaround for the region. Beginning in the late 1990s, a scarcity of land and of access to the Gulf in Pinellas and Hillsborough counties sparked a migration to the subdivisions west of U.S. 19. The new arrivals, many of them middle-class professionals with young families, were jumping on available properties that used to belong to elderly residents.

Over the past decade, Gulf Harbors recorded the largest increase of any Pasco subdivision as home buyers came from neighboring counties.

Orville Holtz, 62, was one of them. He bought his single story, canalside home in Gulf Harbors for $80,000 in 1998. With the steady rise in property values, it is worth several times that now. Earlier this year, Holtz decided the time had come to
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Sep 2, 2006 @ 2:40 PM A mass exodus of people are leaving Florida    
jfreak68


Posts: 1,182
I am saying WOO HOO, let them go, maybe then our state will be as it once was before everyone and their brother started moving here, and me being a native, I have a right to say that!!!!
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Sep 2, 2006 @ 3:56 PM A mass exodus of people are leaving Florida    
witchietoo


Posts: 2,614
In a way it would be a good thing, but seeing I live in Blue Hair County....I won't notice the difference going to and from work. It will still take me an hour or more each way
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Sep 2, 2006 @ 4:02 PM A mass exodus of people are leaving Florida    
witchietoo


Posts: 2,614
In Reply to your post Ken, I know my parents just got their ins bill and it went up over 1200.00. They are now paying close to 4,000.00 for ins and they aren't even in a flood zone. The two schools a few blocks in both directions are shelters. Oh and they got their tax bill too, that also went up about 900.00, so that brings the taxes up to about 4600.00. I can understand how people can't afford to own a house around this area of FL as everything has just become way to expensive in this area (Palm Harbor, Dunedin and Clearwater.) Even in Pasco where a lot of my friends live, the rates and taxes have gotten out of hand.
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Sep 2, 2006 @ 4:06 PM A mass exodus of people are leaving Florida    
jfreak68


Posts: 1,182
You know what Witchie, it is a state wide thing, the taxes and ins, is going up everywhere. It is awful, and you know Florida is a right to work state so they pay next to nothing, nevermind people need to live. It's ashame really....

[Edited on 9/2/2006 4:13 PM]
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Sep 2, 2006 @ 4:12 PM A mass exodus of people are leaving Florida    
witchietoo


Posts: 2,614
I know JF, I'm just whining. Had to go to work today and because it is a holiday weekend it took me almost and hour to get there (at 8am) and and hour and a half to get home...grrrrrr

I would love to be able to buy a house in the boonies, but even that now is out of most people's price range with the taxes and all. Friends of mine just moved up to Crystal River a year or so ago and their taxes and ins has more then doubled.

As for the right to work state, don't I know that. I look at what people make in other states doing the same thing and they are paid almost double. The rate things are going cost of living wise, it isn't that much difference between here and NJ anymore.
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Sep 2, 2006 @ 4:15 PM A mass exodus of people are leaving Florida    
jfreak68


Posts: 1,182
I had to work too, but at least it takes me 5 mins to get there. Yeah it is sad really, I have noticed since coming back to Florida everything, everywhere has gone up. Makes me sick...
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Sep 2, 2006 @ 4:42 PM A mass exodus of people are leaving Florida    
witchietoo


Posts: 2,614
I use to live 5 minutes away, but the company I work for was sold and they moved us down to south St. Pete
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Sep 2, 2006 @ 4:47 PM A mass exodus of people are leaving Florida    
jfreak68


Posts: 1,182
Oh wow that bites the big one....
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Sep 2, 2006 @ 5:21 PM A mass exodus of people are leaving Florida    
budo13


Posts: 3,398
believe it or not i work in the medical field which traditionally it was never hard to find a job but along the coast it's very hard i too am a life long floridian(cracker) but i've gotten many job offers in NC and i'm ready to jump on them so long to my beloved state
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Sep 4, 2006 @ 10:17 AM A mass exodus of people are leaving Florida    
Radarone


Posts: 2
You say people are leaving in mass groves, not exactly true. Those that are leaving have found better pay elsewhere, got transfer or found better opportunity. Lets not forget about those that move here replacing those that left. The housing market you say is in a slump... That is nationwide not just in one area. Buying and selling homes is like the stock market for many they buy low and sell high when the interest rates go down. Now that the feds have raised the interest rates the market is very very slow only to put many into bankrupcy or to bail out for a low sale and loose money. Personely, I will be selling this next year to move west. I am retired so where I go and what I do will be a change of scenery.
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Sep 7, 2006 @ 9:35 AM A mass exodus of people are leaving Florida    
Kenn159


Posts: 3,656
Quote
You say people are leaving in mass groves, not exactly true. Those that are leaving have found better pay elsewhere, got transfer or found better opportunity. Lets not forget about those that move here replacing those that left.

Reply
If you read my original post I said that.
1000 leaving from 2000 that are still coming equals 1000 a day that are still coming.



Quote
The housing market you say is in a slump... That is nationwide not just in one area


Reply
Yes the interest rates have gone up nationally although prices do differ regionally ,dependent on the economy in the specific area.

The Citizens insurance fiasco is very much a Florida issue though , coupled with low wages and the systematic replacement of low income housing and trailer parks for condos, many families are finding it hard to make it here.


[Edited on 9/7/2006 9:41 AM]
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Sep 8, 2006 @ 4:35 PM A mass exodus of people are leaving Florida    
outlaw_star


Posts: 1,089
"low wages and the systematic replacement of low income housing and trailer parks for condos, many families are finding it hard to make it here."

I have to agree with Ken here, seem employees dont want to pay more then min wage or upwards of $6 ~ $7 a hr for good help. I've been job hunting lately and I am thinking about lowering my salery desired/want from $9.00 ~ $10 a hr to $8 ~$9 a hr just to get a job. Forget about buying one of those converted apartments/condos on my salary or anybody's elses salary. Those things go for a min of 100,000 and up. Lowest I saw once was 80,000 for a 1 bedroom condo. Many families much less single people are having to work 2 or more jobs just to make ends meet these days.


[Edited on 9/8/2006 4:41 PM]
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Sep 8, 2006 @ 5:27 PM A mass exodus of people are leaving Florida    
witchietoo


Posts: 2,614
I know what you mean Outlaw...I have been looking for another job myself and can't find anything even close to what I am making now. Even that isn't enough to make ends meet most of the time. Trying to make it around here on one salary is hard as most of the apartments I have looked at you can't make over 20,000 a year and the others I just can't afford with a car payment and all that stuff. There is no way I could afford a condo either. In an area of Clearwater that is not the safest they just built condo's starting at either 80 or 90,000..don't remember which...these are about 10 blocks away from a known drug area. Not an area I would want to spend that kind of money on a glorified apartment.
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Sep 9, 2006 @ 9:48 PM A mass exodus of people are leaving Florida    
clhill77


Posts: 8
Im in the same situation, my house is up for sale...have been for some time...im pretty much being FORCED TO SELL... I am one of the few not looking for a huge profit...I brought a home 7 yrs ago that was what I could afford...i didnt go buying a fancy house that was out of my budget...but thanks to the insurance industry...I'm forced to sell...I have NEVER had a claim...yet becuase my home is older and frame...my insurance just went up to over $5,400 a year...yes for a 1280 sq foot house...NO POOL, NO DOG...so I ask...why should I be forced to pay for "all the hurricane damage done to the homes of rich people living on the water"?? I have options...here they are...
1-I sell and loose every dime in equity I worked for for the last 7 yrs...BECAUSE I CANT SELL THE HOUSE DUE TO IT BEING FRAME...SO ITS WORTH ABOUT $1.00...
2.- I work another part time job-on top of my 40 + a week...to put money in the insurance pocket...
3...I cant rent it out because heres the catch 22- I loose my homestead...forcing my taxes to skyrocket...
4. or the great option called forclosure....
Hey heres an option...to FEMA and Jeb...Next time you give out free money on cards...send one my way...belive me I wont by gucci bags or go to a strip joint...I'll use it to try and save my home!!
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Sep 9, 2006 @ 11:46 PM A mass exodus of people are leaving Florida    
Kenn159


Posts: 3,656
Wow i cant believe they are charging you 5,400 a year ,that is really bad.
I bought a house 2 years ago in Hernando and the insurance went from 1,000 a year to 1,650 which I thought was bad but 5,400 wow.
I have another house in Pinellas park that I bought in 1989 dirt cheap as a handyman special,at that time I insured it for 50,000 value and Ive never increased the insured value,the payments are only 650 a year through univeral insurance out of miami,but the problem is its uninsured ,if there was damage beyond the low coverage value,it wouldnt be a good situation.
I got the impression when shopping for insurance that I am skating by to get insurance because my places were both built in 1960,then I think..what are these people doing that have these old vintage houses ,now I see from your example.

Here is a idea that Im considering if the prices from the insurance companies dont come down.
Take the money that you would be paying the insurance companies and put it your own seperate acount in the bank,in 2 years you would have 10,800[you can do alot of house repair with that],every year just keep on building it up and it will be your own insurance fund.
Now if your house burns down the day after you start your own acount then you are in bad shape ,but the likelyhood is that wont happen and money from your account can handle any repair from what ever mother nature throws your way.

Ive had the place in PPark since 1989 and have never made a claim,if I had been putting that in a bank every year I would have quite a large personal home insurance account built up by now and if you decide to sell at some point then let that be the insurance account for your next house.


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Sep 10, 2006 @ 10:12 AM A mass exodus of people are leaving Florida    
clhill77


Posts: 8
Ken...In your thread on Sept 2...the first paragraph did you get that from the "broiler plate " letter that Jeb Bush is sending out? I wrote him and got a letter back with the same reference... It would be great if I could bank my insurance money but unfortunetly if you have a mortgage the mortgage company will not allow you to go uninsured...I asked them if it would be cheaper to force place insurance and they said no...as far as older homes....dont think anyone really cares about them...I brought the situation up to the city of saint pete and their attitude was "oh well" ...and pretty much was the best thing to do was bulldoze it and build a brick frame home...I blame myself for being niave when I brought the home and not inquiring about frame v brick...while I know that rates have gone up as well for brick homes, when it is not hurricane season at least these homeowners have a few companies to go to...I DONT..I HAVE citizens...and I thank the government of Florida for allowing these insurance companies to pick and choose who they want to insure..to be honest with you I will not be upset in the slightest if a hurricane hits and my 125 yo oak tree demolishes it...
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Sep 10, 2006 @ 8:21 PM A mass exodus of people are leaving Florida    
Kenn159


Posts: 3,656
Im feeling you ,this is just a reallty bad situation we are all in .
In relation to your question ,I wrote it myself ,didnt get it from Jeb,although you can see after the first few paragraphs I wrote where i copyed and pasted the Tampa trib article .

What area do you live in ,I grew up in Kenwood [3rd ave and 28th street N]

I converted my mortgage to a home equity line of credit 2 years ago when the rates were cheap,you would probably have to do this if you choose not to have to get mandatory insurance .
There is nothing written in to that loan that makes you have insurance atleast through bank of America.
Has citizens turned you down because of the age of the house
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Sep 10, 2006 @ 8:41 PM A mass exodus of people are leaving Florida    
clhill77


Posts: 8
No my agent called me and said " I have good new and bad news" Good news my insurance went up 890.00 this year...THATS GOOD?? Bad news...lol my insurance company is dropping me because of the age of my home...I live off 5th ave n...not too far from you...and I get to go to citizens they quoted me $5,400...and thats with the highest deductable...which Jeb recommended...I read my policy...and thank goodness I didnt have vinal siding put on becuase insurance doesnt cover that anymore...in fact dont know really what Im insured for...everytime I get my policy theres all these new things they took off...BUT HEY HERES A GREAT THING...LOL I'M INSURED FOR VOLCANOS!!
I have had at least 75 people thru my home looking at it...I remodeled it alot and added a huge master bedroom...out of 75 people maybe 30 could not get approved...and I would have to say the other 99 percent ran when they found out what the insurance would be on this house...something has to be done...but until them I'm hitting the pavement to find a job at night a few nights a week...
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Sep 10, 2006 @ 8:41 PM A mass exodus of people are leaving Florida    
clhill77


Posts: 8
hit send twice
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