florida waterfront property/ boating....
 

looking to get out of the cold here in pa, looking to buy a waterfront home in Florida, i have spent alot of time in deerfield /lighthouse point area above fort lauderdale..prices are going up faster every week. last year i took delivery of a top gun and looking for options and what others are doing to boat year round..... rack storage at marina one or by shooters...?, lifts at waterfont home?, or fresh water inland lakes..... looking for the hot spots to go and i`m anal with my tg to keep it clean.... what do others do? any cig owners know of property for sale or options to boat in Florida let me know ! thanks pasunbum

Re: florida waterfront property/ boating....
 

We keep our Gun on an elevator in the backyard. If you can buy a house on the water I would do it. You can't lose becuase soon you won't be able to get water front property. There is a house on the intracostal that just came up for sale near us.

During manatee season, from our house, it's about a 25 minute idle to Shooters and a 15 minute idle to the inlet.

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lucky strike....if you have any info or a contact on the property let me know. in lighthouse point the cheapest with one fixed bridge is 630,000 no fixed is 850,000 plus! thanks for your quick reply....

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This one is probably a couple million dollars. It was big. Nothing like boating all year round though! :D

LS JR.

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i know of one in gables by the sea,just pm me and ill put you in touch with it,he had a 40 foot cruiser docked out back so your cig should be fine.

Re: florida waterfront property/ boating....
 

Hey Pasunbum,

Deerfield is my Hometown. I know Deerfield and LHP VERY well. If you give me some ideas of what you want/need and a $$$ amount I'll find you a deal

Greg

Re: florida waterfront property/ boating....
 

CASH BAR..... we looked at alot of property with realtors and in contact with them daily.here is a wish list. looking at a great south view of my 38 tg. maybe a tee of the canal , to see lots of water. pool no fixed bridges, garage to keep the harley and vette in.location is everything. house can need work or a future demo and build new. we looked at one in from intercoastal south canal view deerfield, liked very much for 1.3m i need to save a few more yrs for this one..looked at one on 51st. with a fixed bridge. good southern view. needs detail work, but would like no bridges...if we can buy from owner and keep the realtors out of it great. looking for a far price and not someone to make a yrs wages off me! thanks for any help.

Re: florida waterfront property/ boating....
 

FYI...Lots of banks are offering interest only loans that will get you into that million dollor home at an affordable rate...mine is 3.75%..the bueaty is you can pay down your principle at a much fater rate if you desire more so than with a conventional fixed 30. Down side is you have to have a bit of self control and not over extend yourself with that extra free cash you will have.....I have done these programs twice and with the increased rate of property values, I have always come out ahead...Just be careful and pick the right program and ASK lots of questions...Good Luck!
Jake1250

Re: florida waterfront property/ boating....
 

As a waterfront property owner in Florida the other big expense is property taxes..... It is not unheard of for the taxes to be in the 36-50 thousand dollar range per year on waterfront. Better check what the neighbors pay on recent sale properties. Keep in mind that Florida has the "save our homes" cap on annual prop tax inceases... it limits the increase to no more than 3% per year but you must have the property homesteaded to enjoy this protection. All new home sales are subject to full valuation, so look out!!!

Re: florida waterfront property/ boating....
 

And I taught insurance rates were high!!!

Re: florida waterfront property/ boating....
 

My aunt specializes in waterfront around Ft Lauderdale area, I'm sure she could answer any questions you would have. She works out of Coldwell Banker. 1-954-259-5110 pgr, [email protected].

She's in Georgia for Turkey day but will be back on Monday. Good Luck

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Will keep an eye out for you.

Greg

Re: florida waterfront property/ boating....
 

all i can say is that if ya could afford a waterfront house now jump on it cause it's getting ugly really ugly. where my old man lives ya cann't buy a house for less then 850,000 and that's needing to fix it up. but ya would love it right next to tnt and lipship which ya can drive your cig by water to there dock. they are less then 2 min away on the water. the ocean inlet is less then 5 min aways hollover cut

mike

Re: florida waterfront property/ boating....
 

How about a real clean duplex on a 16k square foot lot just a short walk from the LHP marina. Its not on water but it surrounded by multi million dollar waterfront homes in the nicest area in LHP. It also has a real nice pool. I haven't put it on the market just yet but will probably do so the first of the year. :cool:

Re: florida waterfront property/ boating....
 

thanks for everyones help.like thedonz says anything on the water is 850 plus, they say it`s going up 5,000 a month... cash bar i got your info thanks for the look around.. will check them out. del sol i`ll call her and zr, pm me some more info if you would. i`m looking... thanks....

Re: florida waterfront property/ boating....
 

In reality is not the basis of the investment but the carrying costs. Total with taxes, insurance and maintenance I am near $35,000 a year on the west coast of FL.

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I really think that alot of people are unaware of the tax issue and the problems associated with getting homeowners insurance in a state that has been hammered with hurricanes. Alot of insurance companies are not writing new policies on waterfront right now. In fact they are doing a waiting list for new policies. My homeowners has doubled every year now due to the risk. The legislature is the one that allows the Insurance increases but the companies can raise them first and then ask for permission (which they usually get). The smart thing to do is look at the county property appraisers website for the location you are interested in and see what recent sales are being taxed at. Very often you will find that there are properties that have been owned for a long time and are taxed very little and the next door neighbor just bought and is paying $3000 a month in property tax!! Homestead is the key!! You have to homestead the property or you will get taxed right out of there!!!

Re: florida waterfront property/ boating....
 

For what it's worth:
I moved my wife and kids from just outside of NYC to Marco Island FL this past April.

We were paying just over $24,000 a year in property taxes for our home in NY, we are now paying about one third of that on Marco.
We were paying about $3000 in insurance costs in NYC, now that number has doubled.

Instead of snow removal in NY, that money instead is going towards Truly Nolan and year round lawn care.

All in all, I wish the music industry would have gone down the crapper sooner to force me to make this move a few years ago...

Our house on Marco has gone up in value by 35% since April, and so has the empty lot we bought next door

Re: florida waterfront property/ boating....
 

And it will go up that much next year too. Best investment you can make. The carrying cost to support the investment are worth it!

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FL should be good for the next ten year or so in RE, then the same population balloon (baby boomers) that is fueling this boom will start kicking the bucket instead of buying real estate and you might have heirs that will start selling in droves wanting cash from their inheritance instead of the real estate and it's associated upkeep costs.

Brett also brought a good point as it relates to property insurance if FL keeps getting pounded by hurricanes, something similar to catamaran insurance.

Just my stupid toughts on this.

Re: florida waterfront property/ boating....
 

Expresscat39 & GL
I completely agree with both of you.

I do think that the southwest area of Florida potentially still has more room to grow price wise, than for example Ft.Lauderdale and up toward the palm beaches.

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Hey I love Marco!!!!! :D:D:D

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The Donald just bought a "house" on Palm Beach in bankruptcy court for $40mm. It was assessed for taxes at $26mm, with annual property tax bill of $515,000. Waterfront ok, (ocean) but no dock!

Re: florida waterfront property/ boating....
 

Can a recently purchased home be homesteaded? If I understood you, only people that owned prior to a certain date can do it.

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Homestaed attaches the first full year you claim the house as your primary residence. So if you bought a new home today, you would file for your homestead exemption by March, you would get your notice of proposed taxes in August and your property tax bill in Sept. 2005. Your new home would be valued at FMV according to the appraiser's normal course of evaluation for the 2006 year and then you would also see your homestead kick in and cap your annual increase to less than 3% annually. The other important aspect of homestead is your protection from creditors and judgments. They cannot take your homesteaded property irrespective of the judgment and in fact your proceeds from sale of the property and purchase of a new property would also be protected for up to 24 months. Thats why OJ bought in Florida!!!

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Not always the case. The property I referred to earlier involving Trump was owned by a health care entrepreneur who went broke. As the news said "The former health care magnate, a Palm Beach resident, is accused of fraudulently giving his wife, Lin, an ownership stake in his mansion and other possessions to avoid losing them to creditors."
His creditors went after him and their investigators found out his trophy wife had gotten a quickie Dominican divorce to marry him.They petitioned the court to determine if he was indeed "married". The court said the marriage was invalid and he lost the house. Some guys just can't get a break.

You gotta love a guy who files a $25,000 homestead exemption on a $26mm 43,000 sq ft house.

Re: florida waterfront property/ boating....
 

All I gotta say is your taxes are insane! :mad:

Up here in the Socialist Republic of Washington we live in a house that needs a tear down like your old place Brett, the lot is the value as usual and even with a lot value of 850K (going up fast since I bought 7 years ago for half that) the taxes are about 12K a year.

I need to stop complaining :D:D

Used to talk about selling everything here and move to Florida. Looks like we missed the boat.:rolleyes:

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It might be hard getting work Mike, not many people in Florida have teeth..........

Re: florida waterfront property/ boating....
 

The point is well made that in 15 years there will be a sell off. Taxes will be so high the inheritors will want nothing to do with it and the "drop it like it's hot" syndrome will kick in.

I play around in Florida buying, selling etc with real estate. Check out my current web site of two premium water fronts:

www.cat39.com

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:D:D:D:D:D:

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Can you tell us "ballpark" figures? I always liked the gulf coast!