OMG! forget about retirees moving to FL, there are native Floridians who can no longer afford to live here. I keep hearing to save more but if I can barely make it paycheck to paycheck how the hell am I supposed to save more!
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k in 2023 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
@@Tonyrobs2 This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
My CFA ’’ Sharon Ann Meny, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Annette Christine Conte is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
My gut told me a couple of years ago to sell our condo in Naples. I'm so happy that we did. We bought low and sold high. I just couldn't stand being with all those Trumpers
We did the same . We departed the Hurricane State in 21 . Thanks to someone who purchased our 2 Homes for a crazy amount of money . And we haven't looked back .
Might want to think twice about Iowa. My wife of 33 years left Iowa as soon as she graduated. We go back to visit the in-laws multiple times per year and my wife's take is that Iowa lost the charm of small town life a long time ago. Out of its 99 counties, roughly 70 have steadily been losing population over decades. Winters really cold. Food not good. Boring. Repressive. Think elsewhere.
We've got a place in MI and a mobile home in Brevard county. We don't bother insuring the FL mobile due to the cost/ hassle of getting coverage, besides the place wasn't that expensive to buy (if she blows away I'll be unhappy, but it won't break me:).
I think you made the right decision to stay put,I have lived in Orlando for 35 years and own my home, the property taxes and home insurance are have become a financial burden for thousands of homeowners here , it's also a huge effort to even find an insurance company to even issue a policy unless the home has a roof less than 10 years old , original wiring ,plumbing and ac systems will need to be replaced as well. Also e advised the big national insurance companies do not offer home insurance in Florida so your unable to save by bundling with auto insurance , be aware Florida also has some of the highest auto insurance rates in the country as well. In a nutshell Florida has become high cost state.
My wife and I retired in March of this year, sold our house of 27 years in Tampa last June for more money than I ever thought possible (got a full price offer in just 2 days!),, and moved to our new home in northeast TN. We love it here. We are half backs as well. We grew tired of Florida's heat, humidity, the ever increasing cost of home owners insurance, and to get away from our next door neighbors that threw loud parties on Saturday nights. BTW, I have the exact same ball cap, and I wear v neck tees, too!
what makes you still think Waterfront property is still considered prime property, I would not want brackish river water in my home, I am 10ft high in ft myers and would say that is the prime property, high and dry for 30 years, some homes have been flooded three times in that time span
I spent 7 years in Florida (1993-2000) before moving to my then fiance's (soon to be my wife's) home state of Wisconsin. I thought someday I would move back after I retired. I realized two years ago that moving back to Florida was going to be out of the question as my retirement income would not be enough to keep up with the state's increasing cost of living (and I was looking at the area north of Orlando (between Leesburg and Ocala; at one time both area's were a bargain for retirees on a modest budget. Neither one are bargains anymore)). Bottom line is I was priced out of Florida by the what I sarcastically refer to as the "seven plus figure club". After spending some time seething in anger, bitterness, and resentment (the Wisconsin winters will do that to you), I decided to look elsewhere in the sun belt that not only has a lower cost of living, but also offers retirees tax incentives to move there (or stay there, whatever the case may be). So I'm thinking about Southern Alabama (near the Florida border). Not only does it offer the above mentioned, but I can be on any of the beaches in the panhandle in a matter of two hours, yet not be in the bullseye of a hurricane every summer.
Hey, There’s a 1987 3/2 house in Laurel Hill, Fl, sitting on almost an acre lot being sold AS IS for $180k… maybe you can offer a little less. Not too far from the border of Alabama.
Yes Tucson is great or Yuma just don't park your car out in a parking lot your driveway for hours when the temperature is 112° because you'll be in the emergency room with skin burns if you touch that car and don't think it touching that steering wheel unless you put one of those aluminum type Shades in your windshield it's party over I lived in Scottsdale for 4 years no thank you the only place to go is Sedona in Arizona possibly Flagstaff but too cold
Great video Ben❤ Retirees really are leaving. Two friends of mine left, and another is planning on leaving next year. No wonder. Life has gotten so hard here. I sold my home in WPB in July and am just waiting on my husband to retire, then we’re out. Figure we can take extended vacations to get us through winter. Too many changes here. Sadly, the negatives outweigh the positives. Wonder how this will change the dynamics in Florida. Thanks for all you do for this channel. You’re the best!
We are in IRB. Problem with listings is failure to properly/accurately document flood/storm damage. Dealing with FEMA is a real challenge. I don’t know if these listings have dealt with FEMA at all? Problem is current listings often show prestorm photos without showing storm damage. Yes it is wrong but buyers need to see current photos and learn about FEMA. Thx for bringing us along.
I agree, I am suspicious of listing with new flooring, baseboards, a fresh coat of pain and updated kitchen. Is there mold behind the walls ? Once it’s relatively dry, a moisture meter isn’t going to tell you much.
Never thought it would happen to me. I reside in coastal Broward. Always in the past, when I applied for a rental lease, the response was, “what do you use in your coffee?” Now, I was actually denied because my retirement income was not 3X what they are looking for. Some communities are fussy; others not.
What they dont tell you is Florida is the state for corporations to FREE FUC...Kyou and no consequences. Car insurance, house insurance, florida over the national INFLATION 17% to 21%, electricity rates increase every 6 months $25, food is over the roof expensive! Water quality is HORRIBLE and expensive. My neighbor retire and found out quickly his retirement will only cover 46% of expenses he sold and left to Nebraska.
I sold my Sarasota condo a year ago for many of the exact reasons. HOA fees and insurance costs continually going up. Our condo association even had the wind portion of the Master Policy canceled. The huge spike in population and traffic in Sarasota County. At 65, I'm ready to retire, and who knows where these rates will be 10, 15 years from now? -- I moved to north Georgia, and most of those expenses are way less here, although our area did get whacked by Hurricane Helene, but our damage was very minor here, and the locals said a storm like that is almost unheard of. So far, so good for us but insurance and HOA rates can become problematic anywhere.
The state of Florida apparently wants the wealthy northerners to live in south Florida because DeSantis hasn’t put a moratorium on building here in Wellington, DelRay, Boca Raton. Builders are out of control and I’d like to know which insurers are willing and able to assume all this risk. My homeowners insurance has increased from $2500 in 2014 to $7,000 today (with no hurricanes). Driving is ridiculous with all the traffic, and accidents have quadrupled. Why DeSantis allows developers to overpopulate certain areas is beyond me. You wouldn’t need the additional tax revenue if fewer people moved here.
I left Florida 20 years ago and have never suffered a hurricane in North Carolina in which I have had to leave my home or suffered damage. In Florida almost every year we had to flee.
@@DEG1985 Yes, but what about Hurricane Helene? The western part of the state got hit BAD. North Carolina is very expensive also I thought; considered it in 2010.
Iowa??? No, thank you!! Just left there 3 months ago for Tampa area…just in time for Helene, lol. Just renting waiting on the sidelines. Thanks for the great information, love the channel!!
I was looking for a storm rehab to invest in up here in Pasco. However, I have reconsidered due to the astronomical amount of storm damaged homes already for sale around me. I just don't have the time to let my money sleep for a long draw down market.
Climate change is not gonna allow the states he’s talking about to become the new favorite states because they’ll be too expensive to live in and become even too dangerous depending on the exact location. Soon most people in the northeast and MidWest will not be going south anymore. In fact, the number of people going to the Sunbelt will drop to nothing and the number of people leaving the Sunbelt will increase dramatic. Over 1 million people have already left California and a quarter of a million have already left Oregon . Even Alaska in Hawaii are losing population. And increasing number of Texans are tired of living in Texas for many reasons and Arizona is becoming unlivable with horrific heat domes. Florida will become perhaps the most dangerous state to live in. It’ll also become extremely expensive to even buy home and property insurance if you can even get it very soon. No one wants to buy property that is uninsurable. South Carolina and North Carolina are not much better off .
Yet California still has 39 million people still living in state. It isn't gonna fall off anytime soon. It's inbound migration bit into that million you posted.
Toll brothers, DR, NYR all are rushing to wrap all their project in FL up, they plan them out years ahead of time so they going to try and finish all that they invest in but the new project proposal for next year have already slowed down
My mom is hoping to leave Florida next year and move near family in Maryland. She is getting older and, like many older folks, wants to be near family. Nobody in my family wants to move to Florida so it’s up to her to head north. She knows a lot of people in her neighborhood about to do the same thing.
In 1998 we paid 450K for our 5 bedroom 2 story house on water (NFB) in SE Florida. In 2008 we could have listed our house for 1.5M (we were dragging our feet). We sold the house in 2011 for about 850K. Today the same house is on zillow for 2.3M... (It wasn't a particularly nice house).
Be interested to see how you overcome and adapt to the challenges of hurricanes. For the last 150 years you've averaged about 18 hurricanes per decade. There aren't many people that can afford to build homes that can survive category 4 or 5 hurricanes and don't need insurance. The rest won't be able to afford the insurance.
We started looking in February just to get an idea of the cost of older homes in Venice and New Port. My main concern was all the new builds. It now seems to be coming true. But now, with all the new extra cost and the extreme weather that has also made me very hesitant. Our home here in Western New York seems to be increasing in value every month. So I'm very torn in investing in a home in Florida .
Just be sure to research the insurance nightmare going on down here. Tallahassee's effort to address this has been an embarrassing joke. I see insurance rates that could cover an entire mortgage in other SE states.
@@LJ-jq8og I would say two years minimum. The foreclosures haven't even hit the market yet. Worst inflation ever in the U.S.; even worse than 1917 with relatively low foreclosures? Really, how can that be. There are over 150k homes with FHA mortgages in forbearance in Florida alone. And do not forget VA mortgages have a moratorium in place until 12/31/2024. I wonder how many were in pre foreclosure that can't proceed till 1/1/25. Epic is the word. Someone will comment no way so here is the fact sheet HUD No. 23-030
Lived in Charlotte NC, Punta Gorda and now live in a Houston suburb. Much prefer Texas. It’s so much easier to live in Texas. Food, entertainment, culture, easier to travel to the rest of the country. You don’t realize what you value until you don’t have it.
@@sarahann530 It doesn’t bother me. It was actually better during the summer than SW Florida is in the summer. SW Florida in the summer is sweltering heat mixed with afternoon thunderstorms. No fun if you own a boat.
@@sarahann530 For me, more variety in restaurants, especially Mexican food. More big names in entertainment come here than you will see in Fort Myers. Like the diversity in the city. We used to walk in Punta Gorda every night and met people who moved thinking they were moving to paradise and then realized that they missed the things from the city where they came from that made life interesting.
Everyone's leaving Florida!!! That's funny as hell because the population down here is continuing to skyrocket to this very day!!! 😂 inbound migration to Florida is at a all-time high.....
Planned my working career choices to be able to retire at the beach in Florida. Retired a few years ago, only to see prices triple . Sigh……Hoping there will be a correction.
Месяц назад+2
It’s cold 🥶 as hell in the Midwest. I’m headed down to Ft Lauderdale for all of February… can’t wait.. when I can claim SS I am going get a winter pad ..
So many Hawaiian and California plates in Nevada. People moving to more tax friendly states, less homelessness, less crimes, water and less climate change impacts states
Local custom home builders still want to charge a ton of money to do new builds in punta gorda. Where I want to build homes are down to the low 300k but I get quotes of 500k and more to build on my lots.
If you want custom, you're gonna pay. Cookie cutter or spec homes are half the price. Problem with that is they will not budge on changes. I'm building a custom home across the harbor in SGC. I've looked at spec builders homes, and they all suck. I'm dealing with a custom builder now, and couldn't be happier at the ease of changes we are requesting. Well worth the money when you think about living in the house for the next 20+ years. Why wouldn't you want to customize the house, to suit your wants & needs? Not for nothing, 5 beans is not bad for a quote to build to YOUR specs.
Wait it out. Soon, these builders will be begging for side hustles. Mark my words. In fact, I'll bet you can have plans drawn at an architect's office and go through the city to build. Then go to any of these job sites and offer a side hustle to their workers. No honor among thieves, right? So, fair's fair then.
Why would they want to buy or keep a a home when they know that when a hurricane damages their homes that the insurance company either flat out refuses to pay their claim or just file bankruptcy to duck the claim?
I think the new builders know exactly what I've been suspecting. I just got another quote with flood insurance for $905 yearly, $720 without flood yearly. I think they know they have the advantage with insurance and rate buy downs.
I love Christmas in Florida. Surfing Santa’s in Cocoa Beach, boat parades, always something to do. Nothing better than a walk on the beach, Christmas Day.
Good stuff Ben. I hear you mention impact windows on a few of your videos. Has this become an issue with getting home owners insurance as opposed to regular Hurricane panels?
No its more so the easy of use on those. I caution retirees to consider having to put the panels up or hiring someone if there is a storm as they can be labor intensive.
I have been trying to get a house built on our 10 acres in Okeechobee since 2019 and every year when I check on what a 2000 sqft. home would cost, it goes up by at LEAST $75k a year! We own the land out right, but I am concerned that (1) you won't get a builder until all the hurricane damage is complete and (2) by the time we could get a builder, the price will be so astronomical it will be unaffordable.
Move elsewhere. Rent a few months in Florida. I live in Ocean City NJ. Great town to live in. Low taxes. 8 months of the year are livable weather wise. July and August are crowded with tourists but I don't mind them. I rent in Florida for the month of February . May increase that as I get older. The market is still tight here. Low inventory. Prices are Crazy.
The problem with these one on the water even built up a bit the next direct hit from a cat 2 there will be damage and if a cat 3 or higher and on the south side of eyewall yor can expect catastrophic damage.For the first time with our family we can't get anyone to wants to take over property ,they would rather go to other tropical destinations.
Was looking at a project in Punta Gorda. Premiere land launced a project earler this year for a luxury resort style tiny home community. They has 100 lots and when i called upon their grand opening they anticipated fill selliut by end of weekend. Curious if youve came across it or know anything current.
Government already planning what cities to save or not on the east coast with sealevel rise and shallow continental shelf. Which cities will have levies or not.
I have a ton of questions but I will start with - Is there any reliable information for the percentage of cash home sales in sw florida ? Is there an assumption that a cash sale will command a larger discount off asking price ? What are reasonable discounts off asking price ? Do these snow birds who retire to south florida (no longer working) take out mortgages ? Thanks
Retired bee in FL for just over year and half in manattee county love the winters but thats it planing to put house in the market next june and move back north the cost of living is not wirth it too much development too much noise too much trafic not for me
Sold our condo at 100K less than original listing in June. At least we got 50K more than we paid in 2021. Now we own a private home and 1/3 acre in PB County. I'm a never Condo again owner. Nope, never. Left a $1000 a month HOA for a $170 a month in my new house, 1 mile from my condo. Gated communities and HOA;s are a money pit.
The only thing still propping up Homes Prices in Florida is the amount of inbound migration of very wealthy people . $450,000.00 Home to these folks is considered Ghetto .
Born and raised in Naples , Florida....If I could afford to start life in a new state I would...this place has been taken over and hate to say it but as a caucasian worker your outnumbered 1/5
They need to build some smaller houses.When you are retired, you want to deal with these monster hou.Just want to be in the other beach with your cottage house
You have people leaving, fewer coming, etc. The drop could be epic!! My biggest question is how this will affect the rental market at large apartment complexes. I sold in January and remain in Florida as an avowed renter. I'm in the Melbourne area now (it's OK for now but not my forever home) and in 1-2 years I am looking to relocate to Ben's general area (Venice, etc.) when I retire. I wonder where rents will be by then. I will keep watching. No way will I "own" (be OWNED BY) a home in FL again.
OMG! forget about retirees moving to FL, there are native Floridians who can no longer afford to live here. I keep hearing to save more but if I can barely make it paycheck to paycheck how the hell am I supposed to save more!
INVEST!! INVEST !! INVEST!!! Invest in crypto , stock market, bonds , gold
But most importantly invest with the guidiance of a CFA!!!!!!!!
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k in 2023 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
@@Tonyrobs2 This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
My CFA ’’ Sharon Ann Meny, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve my financial goals.
Annette Christine Conte is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
I have a condo in Florida, live in Connecticut its gotten to the point that my condo costs as much as my house, Florida is no longer worth it
My gut told me a couple of years ago to sell our condo in Naples. I'm so happy that we did. We bought low and sold high. I just couldn't stand being with all those Trumpers
I sold while the market was still on an upward trajectory. Property taxes and insurance costs were just nuts.
It is crushing a lot of people right now
My Brother’s insurance in Fort Myers tripled.
We did the same . We departed the Hurricane State in 21 . Thanks to someone who purchased our 2 Homes for a crazy amount of money . And we haven't looked back .
Might want to think twice about Iowa. My wife of 33 years left Iowa as soon as she graduated. We go back to visit the in-laws multiple times per year and my wife's take is that Iowa lost the charm of small town life a long time ago. Out of its 99 counties, roughly 70 have steadily been losing population over decades. Winters really cold. Food not good. Boring. Repressive. Think elsewhere.
Interesting
Like Minnesota.
@ Minnesota is light years ahead of Iowa.
@ I know ,for cheating in elections.
Minnesota and Iowa shouldn't be in the same sentence. Minnesota is way better.
$400k homes that should have a sales price of $159k-$180k!!!!!😳😳😳😳😳😳#Unsustainable
I live in Florida and retired and love it here. Not going as anywhere.
We live here part time in Ft Myers and we love it as do our neighbors
We’ve just sold our Florida home and moving back to Maine! No more hurricanes high insurance!
You did the right thing!
@@jeffreycheng5984Mainer here that sold my condo after Ian. One hurricane too many
Was going to move to Florida but staying in Michigan. Will consider it again if house price get cut in half. Risk to reward just not there.
We've got a place in MI and a mobile home in Brevard county. We don't bother insuring the FL mobile due to the cost/ hassle of getting coverage, besides the place wasn't that expensive to buy (if she blows away I'll be unhappy, but it won't break me:).
I think you made the right decision to stay put,I have lived in Orlando for 35 years and own my home, the property taxes and home insurance are have become a financial burden for thousands of homeowners here , it's also a huge effort to even find an insurance company to even issue a policy unless the home has a roof less than 10 years old , original wiring ,plumbing and ac systems will need to be replaced as well. Also e advised the big national insurance companies do not offer home insurance in Florida so your unable to save by bundling with auto insurance , be aware Florida also has some of the highest auto insurance rates in the country as well. In a nutshell Florida has become high cost state.
My wife and I retired in March of this year, sold our house of 27 years in Tampa last June for more money than I ever thought possible (got a full price offer in just 2 days!),, and moved to our new home in northeast TN. We love it here. We are half backs as well. We grew tired of Florida's heat, humidity, the ever increasing cost of home owners insurance, and to get away from our next door neighbors that threw loud parties on Saturday nights. BTW, I have the exact same ball cap, and I wear v neck tees, too!
So what you're saying is you got style?! Lol I dig it!
Hope you like TN rednecks
I love NE TN. How do you find the healthcare options there? I know Ballad has a monopoly in the area and people have been complaining about care.
Are you afraid tornados in that area?
Hope you like tornadoes
what makes you still think Waterfront property is still considered prime property, I would not want brackish river water in my home, I am 10ft high in ft myers and would say that is the prime property, high and dry for 30 years, some homes have been flooded three times in that time span
All in the eye of the beholder
We all make mistakes
if I didn't have elderly parents id be gone from this state. It's a total disgrace. Been here since the 70's
thats nice, dear
I sold my condo two years ago and retired to Asia. I loved Florida but couldnt deal with all the issues any longer.
I live in Manatee county and absolutely love it. But, I can no longer afford it being on disability. The cost for my condo is just too much.
I spent 7 years in Florida (1993-2000) before moving to my then fiance's (soon to be my wife's) home state of Wisconsin. I thought someday I would move back after I retired. I realized two years ago that moving back to Florida was going to be out of the question as my retirement income would not be enough to keep up with the state's increasing cost of living (and I was looking at the area north of Orlando (between Leesburg and Ocala; at one time both area's were a bargain for retirees on a modest budget. Neither one are bargains anymore)). Bottom line is I was priced out of Florida by the what I sarcastically refer to as the "seven plus figure club".
After spending some time seething in anger, bitterness, and resentment (the Wisconsin winters will do that to you), I decided to look elsewhere in the sun belt that not only has a lower cost of living, but also offers retirees tax incentives to move there (or stay there, whatever the case may be). So I'm thinking about Southern Alabama (near the Florida border). Not only does it offer the above mentioned, but I can be on any of the beaches in the panhandle in a matter of two hours, yet not be in the bullseye of a hurricane every summer.
Hey,
There’s a 1987 3/2 house in Laurel Hill, Fl, sitting on almost an acre lot being sold AS IS for $180k… maybe you can offer a little less. Not too far from the border of Alabama.
I considered AL, but they have state tax return and I am in Fl now, we don't have that.
@@curiosity19 laurel hill crime map is the reason for the low price
I flee Florida in my RV every summer and return in the fall. That’s the only way we can afford to live in Florida.
Southern Arizona is a great alternative IMO. Far less humidity. Lower insurance and property taxes. Lots of sun.
❤❤❤❤❤
Water shortage
Yes Tucson is great or Yuma just don't park your car out in a parking lot your driveway for hours when the temperature is 112° because you'll be in the emergency room with skin burns if you touch that car and don't think it touching that steering wheel unless you put one of those aluminum type Shades in your windshield it's party over I lived in Scottsdale for 4 years no thank you the only place to go is Sedona in Arizona possibly Flagstaff but too cold
Great video Ben❤ Retirees really are leaving. Two friends of mine left, and another is planning on leaving next year. No wonder. Life has gotten so hard here. I sold my home in WPB in July and am just waiting on my husband to retire, then we’re out. Figure we can take extended vacations to get us through winter. Too many changes here. Sadly, the negatives outweigh the positives. Wonder how this will change the dynamics in Florida. Thanks for all you do for this channel. You’re the best!
We are in IRB.
Problem with listings is failure to properly/accurately document flood/storm damage.
Dealing with FEMA is a real challenge. I don’t know if these listings have dealt with FEMA at all?
Problem is current listings often show prestorm photos without showing storm damage.
Yes it is wrong but buyers need to see current photos and learn about FEMA.
Thx for bringing us along.
I agree, I am suspicious of listing with new flooring, baseboards, a fresh coat of pain and updated kitchen. Is there mold behind the walls ? Once it’s relatively dry, a moisture meter isn’t going to tell you much.
Love the house with four trucks parked on the lawn. That must boost home values around them.
I think they might be construction workers doing repairs on that house.
Floriduh is cucked for trucks
Agreed. At least I didn’t see the usual blue republic services containers decorating the sides or fronts of the houses.
Do u love ur HOA life
Mexicans all sharing a house.
They pile 20 people to a house.
Didn't look like they were working.
Never thought it would happen to me. I reside in coastal Broward. Always in the past, when I applied for a rental lease, the response was, “what do you use in your coffee?” Now, I was actually denied because my retirement income was not 3X what they are looking for. Some communities are fussy; others not.
What they dont tell you is Florida is the state for corporations to FREE FUC...Kyou and no consequences. Car insurance, house insurance, florida over the national INFLATION 17% to 21%, electricity rates increase every 6 months $25, food is over the roof expensive! Water quality is HORRIBLE and expensive. My neighbor retire and found out quickly his retirement will only cover 46% of expenses he sold and left to Nebraska.
I sold my Sarasota condo a year ago for many of the exact reasons. HOA fees and insurance costs continually going up. Our condo association even had the wind portion of the Master Policy canceled. The huge spike in population and traffic in Sarasota County. At 65, I'm ready to retire, and who knows where these rates will be 10, 15 years from now? -- I moved to north Georgia, and most of those expenses are way less here, although our area did get whacked by Hurricane Helene, but our damage was very minor here, and the locals said a storm like that is almost unheard of. So far, so good for us but insurance and HOA rates can become problematic anywhere.
The right $/sqft for hurricane alleu is $0.
i can tell you one thing me and my wife will never leave marco we love it here
We had good friends that lived on Anchor Ct .We are selling our Keys home and buying another in the Villages.
The state of Florida apparently wants the wealthy northerners to live in south Florida because DeSantis hasn’t put a moratorium on building here in Wellington, DelRay, Boca Raton. Builders are out of control and I’d like to know which insurers are willing and able to assume all this risk. My homeowners insurance has increased from $2500 in 2014 to $7,000 today (with no hurricanes). Driving is ridiculous with all the traffic, and accidents have quadrupled. Why DeSantis allows developers to overpopulate certain areas is beyond me. You wouldn’t need the additional tax revenue if fewer people moved here.
Keep in mind, Desantis has only been there for6 years. Overdevelopment did not start with him. Omg...it has been ongoing and will continue beyond him.
North Caroline also has hurricane risks. McAllen, Texas, is hurricane proof and tornado proof. Winters are good, but summers are long and oppressive.
I left Florida 20 years ago and have never suffered a hurricane in North Carolina in which I have had to leave my home or suffered damage. In Florida almost every year we had to flee.
@@DEG1985 Yes, but what about Hurricane Helene? The western part of the state got hit BAD. North Carolina is very expensive also I thought; considered it in 2010.
Austin Texas real estate makret has slowed down. The property prices there are ridiculous.
Iowa??? No, thank you!! Just left there 3 months ago for Tampa area…just in time for Helene, lol. Just renting waiting on the sidelines. Thanks for the great information, love the channel!!
Thanks for checking me out!
Polk city Iowa is beautiful! You can have florida!😅
$629,000 is an insane price for a house with water damage!
Always appreciate your perspective. Anyone looking for a home, you should go with Ben!
I was looking for a storm rehab to invest in up here in Pasco. However, I have reconsidered due to the astronomical amount of storm damaged homes already for sale around me. I just don't have the time to let my money sleep for a long draw down market.
Any sinkhole's in Pasco?
@@fibonaccisequence2891 Tons
Climate change isn’t going away, only gonna get worse. Another hit on the west coast 3 yrs in a row, and their done
Climate change is not gonna allow the states he’s talking about to become the new favorite states because they’ll be too expensive to live in and become even too dangerous depending on the exact location. Soon most people in the northeast and MidWest will not be going south anymore.
In fact, the number of people going to the Sunbelt will drop to nothing and the number of people leaving the Sunbelt will increase dramatic. Over 1 million people have already left California and a quarter of a million have already left Oregon . Even Alaska in Hawaii are losing population.
And increasing number of Texans are tired of living in Texas for many reasons and Arizona is becoming unlivable with horrific heat domes. Florida will become perhaps the most dangerous state to live in. It’ll also become extremely expensive to even buy home and property insurance if you can even get it very soon. No one wants to buy property that is uninsurable.
South Carolina and North Carolina are not much better off .
Yet California still has 39 million people still living in state. It isn't gonna fall off anytime soon. It's inbound migration bit into that million you posted.
Toll brothers, DR, NYR all are rushing to wrap all their project in FL up, they plan them out years ahead of time so they going to try and finish all that they invest in but the new project proposal for next year have already slowed down
I would never want to live in NC! They get every storm there is! There weather isn’t the greatest either!
That house looks like an office building
My mom is hoping to leave Florida next year and move near family in Maryland. She is getting older and, like many older folks, wants to be near family. Nobody in my family wants to move to Florida so it’s up to her to head north. She knows a lot of people in her neighborhood about to do the same thing.
MD is nuts with the jacked up prop taxes and cost of living, though.
Spare bedrooms have virtually zero impact on housing supply................. other than for boomerang kids.
Right?!
One half off on the homes for sale. Just wait.
In 1998 we paid 450K for our 5 bedroom 2 story house on water (NFB) in SE Florida. In 2008 we could have listed our house for 1.5M (we were dragging our feet). We sold the house in 2011 for about 850K. Today the same house is on zillow for 2.3M... (It wasn't a particularly nice house).
Not for over 4 years!
Be interested to see how you overcome and adapt to the challenges of hurricanes. For the last 150 years you've averaged about 18 hurricanes per decade. There aren't many people that can afford to build homes that can survive category 4 or 5 hurricanes and don't need insurance. The rest won't be able to afford the insurance.
Love WNC … In the SUMMER. Winter-not so much. Keeping Florida as my primary residence for tax reasons. Plenty of ways to scale back and manage 2 homes
We started looking in
February just to get an idea of the cost of older homes in Venice and New Port. My main concern was all the new builds. It now seems to be coming true. But now, with all the new extra cost and the extreme weather that has also made me very hesitant. Our home here in Western New York seems to be increasing in value every month. So I'm very torn in investing in a home in Florida .
Just be sure to research the insurance nightmare going on down here. Tallahassee's effort to address this has been an embarrassing joke. I see insurance rates that could cover an entire mortgage in other SE states.
Don't!! Far more expensive and CROWDED
This upcoming crash is going to be epic in Florida.
Any guess as when I should wait to buy ??
@@LJ-jq8og4 years+
@@LJ-jq8og I would say two years minimum. The foreclosures haven't even hit the market yet. Worst inflation ever in the U.S.; even worse than 1917 with relatively low foreclosures? Really, how can that be. There are over 150k homes with FHA mortgages in forbearance in Florida alone. And do not forget VA mortgages have a moratorium in place until 12/31/2024. I wonder how many were in pre foreclosure that can't proceed till 1/1/25. Epic is the word. Someone will comment no way so here is the fact sheet HUD No. 23-030
Been hearing this since 2019 clown
@@rdee7406 One word, Buy
Lived in Charlotte NC, Punta Gorda and now live in a Houston suburb. Much prefer Texas. It’s so much easier to live in Texas. Food, entertainment, culture, easier to travel to the rest of the country. You don’t realize what you value until you don’t have it.
The weather in Houston sucks ass
@@sarahann530 It doesn’t bother me. It was actually better during the summer than SW Florida is in the summer. SW Florida in the summer is sweltering heat mixed with afternoon thunderstorms. No fun if you own a boat.
@@MissBeeHaven1963 Houston weather still sucks ass and you get hurricanes and flooding . Whats better in Texas ?
@@sarahann530 For me, more variety in restaurants, especially Mexican food. More big names in entertainment come here than you will see in Fort Myers. Like the diversity in the city. We used to walk in Punta Gorda every night and met people who moved thinking they were moving to paradise and then realized that they missed the things from the city where they came from that made life interesting.
@MissBeeHaven1963 Which State has more restaurants than Florida
Ohio seems to be the next hotspot. I'm not from Ohio but it seems the center is gaining popularity.
Any idea where these people are fleeting too, It's easy to understand. Why anyone would leave the west first of florida.
He explained that at the opening of this video... Arkansas, North Carolina and three others..
After 18yrs, we went "Halfback" !
Been here off and on since 74. I'm moving back home next year, I hate the overpopulation and northern folks. This is crazy anymore.
@@LJ-jq8og but he wasn't endorsing it
@@muskyful YES
Everyone's leaving Florida!!! That's funny as hell because the population down here is continuing to skyrocket to this very day!!! 😂 inbound migration to Florida is at a all-time high.....
Nice neighborhood you’re walking through
Thanks Ben. Beautiful homes 2:05
They are!
Planned my working career choices to be able to retire at the beach in Florida. Retired a few years ago, only to see prices triple . Sigh……Hoping there will be a correction.
It’s cold 🥶 as hell in the Midwest. I’m headed down to Ft Lauderdale for all of February… can’t wait.. when I can claim SS I am going get a winter pad ..
ideal
So many Hawaiian and California plates in Nevada. People moving to more tax friendly states, less homelessness, less crimes, water and less climate change impacts states
Local custom home builders still want to charge a ton of money to do new builds in punta gorda. Where I want to build homes are down to the low 300k but I get quotes of 500k and more to build on my lots.
If you want custom, you're gonna pay. Cookie cutter or spec homes are half the price. Problem with that is they will not budge on changes. I'm building a custom home across the harbor in SGC. I've looked at spec builders homes, and they all suck. I'm dealing with a custom builder now, and couldn't be happier at the ease of changes we are requesting. Well worth the money when you think about living in the house for the next 20+ years. Why wouldn't you want to customize the house, to suit your wants & needs? Not for nothing, 5 beans is not bad for a quote to build to YOUR specs.
@@chrism8013500k I can afford but trying to find a reputable builder is my challenge
Wait it out. Soon, these builders will be begging for side hustles. Mark my words. In fact, I'll bet you can have plans drawn at an architect's office and go through the city to build. Then go to any of these job sites and offer a side hustle to their workers. No honor among thieves, right? So, fair's fair then.
As long as you don't get hit with change orders price through the roof.@@chrism8013
Why would they want to buy or keep a a home when they know that when a hurricane damages their homes that the insurance company either flat out refuses to pay their claim or just file bankruptcy to duck the claim?
Retirees are jumping from the frying pan, into the fire! I moved permanently to Costa Rica.🏖
Been there; beautiful country!!!
I think the new builders know exactly what I've been suspecting. I just got another quote with flood insurance for $905 yearly, $720 without flood yearly. I think they know they have the advantage with insurance and rate buy downs.
I love Christmas in Florida. Surfing Santa’s in Cocoa Beach, boat parades, always something to do. Nothing better than a walk on the beach, Christmas Day.
Boat parades 😅
Life in a MAGA paradise 😎.
I got transferred out of florida fifteen 15 years ago and was planning on retiring there. NO THANK YOU! 😲
Good stuff Ben. I hear you mention impact windows on a few of your videos. Has this become an issue with getting home owners insurance as opposed to regular Hurricane panels?
No its more so the easy of use on those. I caution retirees to consider having to put the panels up or hiring someone if there is a storm as they can be labor intensive.
@@bensellin Accordion shutters are not labor intensive & they're cheaper than high impact windows.
I have been trying to get a house built on our 10 acres in Okeechobee since 2019 and every year when I check on what a 2000 sqft. home would cost, it goes up by at LEAST $75k a year! We own the land out right, but I am concerned that (1) you won't get a builder until all the hurricane damage is complete and (2) by the time we could get a builder, the price will be so astronomical it will be unaffordable.
Once Trump deportations begin, labor is going to be another huge constraint. Not to mention tariffs.
The first house is still overpriced at $629,000. You can go to Naples & buy a much newer home at that price.
Going over ask LOL, i am currently facilitating a transaction where the seller will be bringing 10k to closing.
Fishing is best in Florida..I'd never leave it..
In time everything will change in other states too.
Never will leave Florida, doing way better here than i did in two other states
Move elsewhere. Rent a few months in Florida. I live in Ocean City NJ. Great town to live in. Low taxes. 8 months of the year are livable weather wise. July and August are crowded with tourists but I don't mind them. I rent in Florida for the month of February . May increase that as I get older. The market is still tight here. Low inventory. Prices are Crazy.
You are doing it the smart way. No need to totally uproot your life to get away from a couple of months of cold weather and snow.
Low taxes in NJ???
@@s99614 Hah, that's funny. NJ income tax is probably close to California's and the R.E. tax is insane.
@@Red-n5r The Jersey shore is a little bit different, I know it's hard to believe.
Jersey is a dump
The problem with these one on the water even built up a bit the next direct hit from a cat 2 there will be damage and if a cat 3 or higher and on the south side of eyewall yor can expect catastrophic damage.For the first time with our family we can't get anyone to wants to take over property ,they would rather go to other tropical destinations.
Was looking at a project in Punta Gorda. Premiere land launced a project earler this year for a luxury resort style tiny home community. They has 100 lots and when i called upon their grand opening they anticipated fill selliut by end of weekend. Curious if youve came across it or know anything current.
Why would I want to downsize? I'm going to be home all day, I want it to be nice.
Yes my yarn and fabric have their own room, finally! ❤❤❤
lmao, "Halfbacks" thats fkn gold.
Government already planning what cities to save or not on the east coast with sealevel rise and shallow continental shelf. Which cities will have levies or not.
Last one leaving Florida, please turn out the lights.
Ty
The villages florida-still building
Florida was still the number one state people moved too with over 600k. Around 70k were from new York state alone
What about Savannah Ga
I just moved to South Carolina from Port Saint Lucie,
10 years ago to the Tennessee mountains. I still have a cottage in the panhandle.
Where in Sc?
You and thousands of other people. It will be like Florida eventually
@@RobOlgatreethe weather in Tennessee isn't ideal.
Florence, Darlington area
I have a ton of questions but I will start with - Is there any reliable information for the percentage of cash home sales in sw florida ? Is there an assumption that a cash sale will command a larger discount off asking price ? What are reasonable discounts off asking price ? Do these snow birds who retire to south florida (no longer working) take out mortgages ? Thanks
Yes. Yes. 5-15% currently. Yes.
People here call Florida the "Stink on the Brink." Everyone in Florida knows it over. But the denial is huge.
The BIG truth bomb at the end!
The elephant in the room!
Thanks Ron DeDichead.
Spammer
I'm going to save on rent by sneaking into peoples houses and sleeping in their spare bedrooms.
FEMA stating if more than $100,000 damages recent storms house must be on stilts. Plus home owners insurance increasing rapidly
#Greed is the root cause to these problems that's manifesting!!!!!
Florida homeowner insurance is your second mortgage.
Retired bee in FL for just over year and half in manattee county love the winters but thats it planing to put house in the market next june and move back north the cost of living is not wirth it too much development too much noise too much trafic not for me
If the cost of living in Florida what they say it is I can't see how no one but the rich can live
Prime ocean front equals Hurricane fodder
Sold our condo at 100K less than original listing in June. At least we got 50K more than we paid in 2021. Now we own a private home and 1/3 acre in PB County. I'm a never Condo again owner. Nope, never. Left a $1000 a month HOA for a $170 a month in my new house, 1 mile from my condo. Gated communities and HOA;s are a money pit.
A gain is a gain is a gain. Congrats.
Half backs has been a thing for 6 years
The only thing still propping up Homes Prices in Florida is the amount of inbound migration of very wealthy people . $450,000.00 Home to these folks is considered Ghetto .
Born and raised in Naples , Florida....If I could afford to start life in a new state I would...this place has been taken over and hate to say it but as a caucasian worker your outnumbered 1/5
😂😂 Where am I gonna be WARM😂😂
Hate the cold 😅
go west young man
Ben are homes in an HOA slower to respond to the downward trend?
Too many factors at play on that. Very HOA specific. Location, amenities, fees, ect..
Florida net migration estimate in 2024 is still 60K +
They need to build some smaller houses.When you are retired, you want to deal with these monster hou.Just want to be in the other beach with your cottage house
You have people leaving, fewer coming, etc. The drop could be epic!! My biggest question is how this will affect the rental market at large apartment complexes. I sold in January and remain in Florida as an avowed renter. I'm in the Melbourne area now (it's OK for now but not my forever home) and in 1-2 years I am looking to relocate to Ben's general area (Venice, etc.) when I retire. I wonder where rents will be by then. I will keep watching. No way will I "own" (be OWNED BY) a home in FL again.
i dont know. im in fort lauderdale. and its still booming down here.
Glad the old folks are leaving for safety. See ya!!!!
Are those spinning fish easy to catch?
Picked TN over FL