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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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so I was just in Palm Beach County Florida
I read in the newspaper- that 90% of the people who work in Palm Beach county can NOT afford the housing prices
the median income is - ready $28K
and the median housing price is a little over $220K
20% of teachers quit b/c they can't afford to live there
the market in FLorida is changing right now- you see tons of construction sites - that no one is working on anymore- alot of investors bought on spec and are in trouble right now
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Posted 7/17/06 2:18 PM  |
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lululu
LIF Adult
Member since 7/05 9509 total posts
Name:
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Re: so I was just in Palm Beach County Florida
I dont know anything about florida real estate at all - but i would imagine that all the people from up here that move down there drove prices up to a level that is no longer affordable for the natives..... At least here, we should have the opposite problem - no one is moving to LI because it is more affordable!
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| Posted 7/17/06 2:27 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: so I was just in Palm Beach County Florida
Posted by lululu
no one is moving to LI because it is more affordable!
that's for damn sure! 
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| Posted 7/17/06 2:28 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: so I was just in Palm Beach County Florida
Posted by lululu
I dont know anything about florida real estate at all - but i would imagine that all the people from up here that move down there drove prices up to a level that is no longer affordable for the natives..... At least here, we should have the opposite problem - no one is moving to LI because it is more affordable!
that's part of it - it certainly isn't cheap anymore- in the touristy parts- like Palm Beach, Boca, Delray or Jupiter where my Dad is
I didn't see much for under $400K-
there also aren't alot of great paying jobs down there
I was reading the wedding accounments- and some of the people worked as stockers at Target- which no one would put in a wedding accounment up here
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| Posted 7/17/06 2:33 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: so I was just in Palm Beach County Florida
wow....
my aunt is looking to move there (her sisters live there). but of course she paid $195 for her house and it could easily sell for over $400.....and she is a teacher so even with the paycut, her mortgage would be a lot lower.
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| Posted 7/17/06 2:35 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: so I was just in Palm Beach County Florida
and my job could transfer me to west palm beach with my NY salary, but I dont think its worth it - the houses in that area arent that much cheaper for me to move (unless my aunt would move there!)
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| Posted 7/17/06 2:37 PM |
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Freddie
LIF Adult
Member since 3/06 1162 total posts
Name:
Freddie
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Re: so I was just in Palm Beach County Florida
we were there this winter and I was like  at some of the houses - blew Lloyd Harbor away - I wonder if those houses skew the average
but we did pass through alot of what seemed to be affordable areas.
but 28K!!!
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| Posted 7/17/06 2:39 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: so I was just in Palm Beach County Florida
I don't know if this is true for all of Florida or only Palm Beach-
but 2% of your purchase price is your porperty tax
so if you buy a $400K home- your taxes are $8K
but this is a new law- so people who bought 15 years ago are still paying reasonable amounts like $2K
but if they were to sell there house that went up in value alot and buy a cheaper one- they would be paying more in taxes and there month payment would actually be higher
it's going to be interesting to see what happens- alot of the good jobs down there are with builders- so this slow down could casuse a huge problem
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| Posted 7/17/06 2:39 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: so I was just in Palm Beach County Florida
Posted by Ricki
we were there this winter and I was like at some of the houses - blew Lloyd Harbor away - I wonder if those houses skew the average
but we did pass through alot of what seemed to be affordable areas.
but 28K!!!
my Dad took me thru Jupiter Island- which is basically dune road times 100- wow- some houses are ocean and intercoastal front- and they are over $30M
but there are also subdivisions with great houses in the $400s 5 minutes away
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| Posted 7/17/06 2:41 PM |
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MrsRbk
<3 <3 <3 <3
Member since 1/06 19197 total posts
Name:
Michelle
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Re: so I was just in Palm Beach County Florida
Posted by Beth1210
I don't know if this is true for all of Florida or only Palm Beach-
but 2% of your purchase price is your porperty tax
so if you buy a $400K home- your taxes are $8K
but this is a new law- so people who bought 15 years ago are still paying reasonable amounts like $2K
but if they were to sell there house that went up in value alot and buy a cheaper one- they would be paying more in taxes and there month payment would actually be higher
it's going to be interesting to see what happens- alot of the good jobs down there are with builders- so this slow down could casuse a huge problem
My mother lives in Southeast Fl (delray beach) I think they're changing the way they calculate taxes. I don't remember exactly how she explained it. But she was going to look for a small house (she's in a townhouse now) and said that because of how they are recalculating the taxes she couldn't afford to move because including the increase of interest rates and the new way they are calculating the taxes she'd end up paying close to $2k more a month than what she is currently paying on her townhouse.
I still tell her though she's barking up the wrong tree when she complains about her taxes as DH and I pay 15k and our town which has not been assessed in 15 years is about to go through a major reassessment.
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| Posted 7/17/06 2:51 PM |
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Freddie
LIF Adult
Member since 3/06 1162 total posts
Name:
Freddie
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Re: so I was just in Palm Beach County Florida
Posted by Beth1210
my Dad took me thru Jupiter Island- which is basically dune road times 100- wow- some houses are ocean and intercoastal front- and they are over $30M
maybe that's where we were? A1A? I wasn't driving so I don't really know
Our friend's new MIL lives there!!!
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| Posted 7/17/06 2:53 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: so I was just in Palm Beach County Florida
my Grandma and brother live in Delray!
it's gotten so built up - I haven't been there in at least 10 years
I was shocked-
edited- but Delray is in Palm Beach Co- I wonder if it's the whole state
they are going to have fix that- it's killing the market
Message edited 7/17/2006 2:54:27 PM.
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| Posted 7/17/06 2:53 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: so I was just in Palm Beach County Florida
Posted by Ricki
Posted by Beth1210
my Dad took me thru Jupiter Island- which is basically dune road times 100- wow- some houses are ocean and intercoastal front- and they are over $30M
maybe that's where we were? A1A? I wasn't driving so I don't really know
Our friend's new MIL lives there!!!
A1A is ocean front from Miami north to Palm Beach- it's sick
people buy the houses - tear them down and built bigger ones
my Dad says that the people who own them- are barley there- he has seen some that have had the hurrican shutters on the whole year- 
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| Posted 7/17/06 2:55 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: so I was just in Palm Beach County Florida
my grandmother used to live in Jupiter - she said it floods really bad, she was never there for a hurricane but she said she could only imagine what would happen if a hurricane hit there straight on.
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| Posted 7/17/06 2:59 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: so I was just in Palm Beach County Florida
Posted by Meaghan729
my grandmother used to live in Jupiter - she said it floods really bad, she was never there for a hurricane but she said she could only imagine what would happen if a hurricane hit there straight on.
my Dad is on the 4th floor- they have impact resitance windows, hurrican shutters- and they building has made it thru every storm so far- he is not so worried about that
but the houses on the ocean- I would be freaked out about- there was only about 5 feet of beach left!
luckily he is only responsible for everything from the sheetrock in- anything that happens to the outside is covered by the condo complex
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| Posted 7/17/06 3:03 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: so I was just in Palm Beach County Florida
Posted by Beth1210
Posted by Meaghan729
my grandmother used to live in Jupiter - she said it floods really bad, she was never there for a hurricane but she said she could only imagine what would happen if a hurricane hit there straight on.
my Dad is on the 4th floor- they have impact resitance windows, hurrican shutters- and they building has made it thru every storm so far- he is not so worried about that
but the houses on the ocean- I would be freaked out about- there was only about 5 feet of beach left!
luckily he is only responsible for everything from the sheetrock in- anything that happens to the outside is covered by the condo complex
good im glad they are hurricane proofing things. Grandma lived there 15 years ago, and they didnt do any of that then (pre-Hurricane Andrew)
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| Posted 7/17/06 3:16 PM |
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JRG71
*****************
Member since 5/05 5025 total posts
Name:
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Re: so I was just in Palm Beach County Florida
Posted by Beth1210
I don't know if this is true for all of Florida or only Palm Beach-
but 2% of your purchase price is your porperty tax
so if you buy a $400K home- your taxes are $8K
but this is a new law- so people who bought 15 years ago are still paying reasonable amounts like $2K
but if they were to sell there house that went up in value alot and buy a cheaper one- they would be paying more in taxes and there month payment would actually be higher
it's going to be interesting to see what happens- alot of the good jobs down there are with builders- so this slow down could casuse a huge problem
My inlaws live in Naples - Their taxes are high too. It's just like living in NY.
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| Posted 7/17/06 3:16 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: so I was just in Palm Beach County Florida
my Dad's taxes are about the same as he pays in NY
but in NY he had a 4 bedroom house on 1/2 an acre
and in Florida he has a 2 bedroom condo- on the intercoastal
he loves it- he isn't complaining
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| Posted 7/17/06 3:19 PM |
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MrsSchwags
Soccer Baseball Lax Mom
Member since 10/05 11240 total posts
Name:
Jennifer
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Re: so I was just in Palm Beach County Florida
My DH and I just moved back from Boynton Beach, FL in april. I moved down in July of last year to be a teacher in Boca Raton.
We were living very comfortable down there on both of our salaries. If our families could get down more to visit we would have stayed. I can't wait to move back.
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| Posted 7/17/06 3:24 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: so I was just in Palm Beach County Florida
I just love stucco and palm trees
I hope we move there oneday- my Dad has such a great life- I am really happy that he is happy
my Brother struggled alittle- but I think that is just him- plus he moved there right out of college- he should have worked up here first- and then moved
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| Posted 7/17/06 3:26 PM |
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MrsSchwags
Soccer Baseball Lax Mom
Member since 10/05 11240 total posts
Name:
Jennifer
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Re: so I was just in Palm Beach County Florida
When we moved down in July, my husband got a job paying 13,000 more than the job he was at on Long Island.
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| Posted 7/17/06 3:29 PM |
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june262004
But I love the Snow!
Member since 5/05 15379 total posts
Name:
Kristin
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Re: so I was just in Palm Beach County Florida
220K 
My SIL lives in Boynton my IL are in Delray and Boca..
Honestly we looked at houses in Boynton they are over 500 Most new construction going to Millions 
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| Posted 7/17/06 3:29 PM |
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MrsSchwags
Soccer Baseball Lax Mom
Member since 10/05 11240 total posts
Name:
Jennifer
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Re: so I was just in Palm Beach County Florida
Posted by june262004
220K
My SIL lives in Boynton my IL are in Delray and Boca..
Honestly we looked at houses in Boynton they are over 500 Most new construction going to Millions
Yea but if salary is close to the same, look at what 500 gets you here vs. there. The amount we paid for our fixer upper here on LI we could have a nice house in FL.
We were making more in FL too. I had a job down there. I can't find a teaching job up here unless I commute to the city.
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| Posted 7/17/06 3:31 PM |
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june262004
But I love the Snow!
Member since 5/05 15379 total posts
Name:
Kristin
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Re: so I was just in Palm Beach County Florida
Posted by MrsSchwags
Posted by june262004
220K
My SIL lives in Boynton my IL are in Delray and Boca..
Honestly we looked at houses in Boynton they are over 500 Most new construction going to Millions
Yea but if salary is close to the same, look at what 500 gets you here vs. there. The amount we paid for our fixer upper here on LI we could have a nice house in FL.
We were making more in FL too. I had a job down there. I can't find a teaching job up here unless I commute to the city.
Oh agreed. Houses are BEAUTIFUL I love my SIL's house and her neighborhood. My house though was less then what her is worth. They make less and I would be away from my family. I would actually MOVE there but My DH was hot there in April
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| Posted 7/17/06 3:34 PM |
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Buttafli1277
LIF Adult
Member since 8/05 2638 total posts
Name:
Jennifer
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Re: so I was just in Palm Beach County Florida
My DH's aunt lives in West Palm Beach. SHe is a nurse and has a great job at a hospital. I know that the price of their house has gone up since they bought it. Everything over there are homes in little communities. They definately are doing alot of building over there!
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| Posted 7/17/06 10:28 PM |
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