my dad used to build beach-front homes in the 1960's. all the houses he built were on pilings and the lowest occupied floors were at least 10 feet above sea level. looking at these houses, they seem about 4 feet above sea level. it was only a matter of time.
Correct Kurt. Thanks for the feedback. Florida only update its building code to be more strict in 2022. There’s gonna be a lot of building back. 👍🏼. Where was your Dad building back then?
@@GrantWarrington dad built on the new jersey shore and especially surf city and ship bottom on long beach island. he and his father and one uncle would spend the summer building a house. we'd live in that one while they built the next. most of them had no air and little heat as they were not meant as year-round housing. as i remember, none sold for over 20k.
@@GrantWarrington 2022? What lunacy!!! I grew up on the Outer Banks of North Carolina and every home I ever lived in there was built at least 10 feet above the ground it was sitting on. Most of my friends in high school had houses that were built the same way. That was over 30 years ago. It's quite frankly unbelievable that it took Florida this long to catch up on such a basic concept.
@@GrantWarrington This is just not true. Florida updates it's building code every 3 years. Now if you want to talk about flood levels those are determined by FEMA that updates it's maps every 5 to 10 years
@@MouseToes Thanks for watching and for the feedback. 😊🙏🏼Mike was awesome and I learned a ton from him. I completely agree…he knows his stuff and I had a great time making this video with him. 😃👍🏼
@@GrantWarrington So when the next storm swamps the area, the house will/may be OK , but all your cars in the garage will be destroyed-flood damage. Great.
@@terry_willis yup. And that doesn't even account for the cost of the infrastructure that has to support that home and the town or city it's a part of. This isn't sustainable long term without a severe reassessment of the needs of the community. And any dip in the economy or the real estate market unrelated to the weather hazards of Florida are going to hit these areas very hard.
I think owning waterfront property is literally the worst investment that you can do for owning a home because in my own opinion this isn't the Florida of the 1950s where the population wasn't that dense and a lot of the state was still forest and farmland so naturally it would slow down hurricanes and break up the winds so that the impact wasn't felt as directly and now that since everything is being built up and they're destroying a lot of the natural protection along the coastline and getting more towards the center of the state economically this is going to destroy everyone because as long as we keep doing this the hurricanes are just going to get more powerful and get pushed up to the center of a state which will flood out everything again and again. If you cannot self-insure these homes or have a business that is able to cover the ever-growing cost of home ownership then walking away is probably the best thing. Over in Sarasota out by the bay they have so many of these mega mansions that are literally not on even a third of acre of land that are going for over tens of millions of dollars just to be able to have access to the water or your own private area and most of them look deteriorated and not well kept up. I don't know how the governor is going to fix this issue when it comes to the insurance problems I Believe by the beginning of next year the economy is going to fall out with the housing and condos and we're going to come back down to 2018 levels I think.
Thanks for the feedback Marcus. I appreciate you watching🙏🏼😃👍🏼 Waterfront land in paradise I believe will always be desirable. My biggest complaint is that we don’t build like every island in the Caribbean….with block homes. No wood. Im pretty sure most other countries build with block too. Not sure why we are stuck building homes in a tropical storm region🤷🏻♂️
@@marcusdisalvio1804 The government doesn't have to fix this.. Mother nature's going to fix it with God's help.. and we're going to come back down to reality.. Knowing that everything belongs to God.. the all mighty creator of Heaven and earth and everything in it!!!!...wtf
These homes look like they were built in the 1960s, worthless home with expensive property. These beach homes have to be built on stilts and made of concrete
Thanks for the feedback Phillip😊🙏🏼. You’re absolutely right. They were built in the 1950s and 60s. Some even older. These homes weren’t built to new hurricane codes obviously. Now they will be. It’s unfortunate that it takes mass devastation for progress.
@@mattneil1449 spot on, although concrete is still not widely used there. But we've been using elevated building methods on the Outer Banks for 30-40+ years now. Anything like the home above that is still there is likely built in the 60s or earlier and of those most of them are cinder block structures.
Or just place ALL risk on the owner.... no FEMA, govt assistance etc. And require some bond or escrow to cover cost of removal next time the structure is damaged in case the owner can't cover it.
Unfortunately, no one should have been allowed to build on barrier islands. Barrier islands are, by their very nature, temporary. So the land value should be small as well. In the old days, no one built on the beach due to the storms and your cars would rust, to boot. If they did build, it was a beach shack, that could be easily rebuilt given a storm. The FEMA rules are basically killing off the barrier island houses…and this is good actually.
We left Pinellas in county in 2019 after living there since 1973. We love our new home in Tennessee and the cost of living is a fraction of what it is in Florida. Get out while you still can get a good price.
So sorry to hear this Anthony🙏🏼🙏🏼🙏🏼 Have you looked into getting a public adjuster? Another option is to reach out to Mike in this video. He’s helped a lot of people that thought they were out of options. He could at the least go over options and point you in the right direction. His contact info is in the description under this video. Please keep me posted on how this works out for you. Praying for ya man 🙏🏼
I hope it works out for you man. I’m rooting for you!! 😃🙌🏼 Please keep me updated on how it turns out🙏🏼 I got a good feeling it’s gonna end up great 👍🏼
I'm tired of subsidizing fat wealthy boomer retirees from the North. These rich f***s should go build homes somewhere else. Not in the known path of hurricanes where they are the most vulnerable.
I live right outside of New Orleans. Although we all have flood insurance, etc., our biggest obstacles are the Insurance Companies! With each storm comes new “interpretations/revisions.” 🤨
Friend from New Jersey, multi millionaire, moved to Tampa area 6 years ago beach-side. Opend a restaurant, said biggest mistake of his life. He said everything constantly needed to be replaced due to salt water and air, house had ro be rebuilt due to hurricane damage, insurance rates were astronomical. They closed up and moved to Tennessee last week.
@@GrantWarrington i live on a river in north dakota. a lot of the wealthiest neighborhoods build on rivers here as that is the only "water front" we have, brown dingy rivers. that being said, THEY ALWAYS FLOOD!! and then fema comes in and gives money to us upper middle class families that choose to live here. it really does make no sense. same as with any body of water.
As a licensed building contractor since 1978 and home inspection company owner since 1992 we have seen it all. It was only a matter of time before we had a hurricane season that would expose the benefits of the new codes compared to the old.
Good point😃🙌🏼. St Pete hasn’t been hit with a hurricane in over 100 years. Which is a great thing. But it’s also a bad thing because all of these older properties are still hanging around. Homes built up to the new code will change everything.😃👍🏼
We saw the same thing in Mississippi after Katrina. I already know what will replace them based on what happened here. Giant mansions owned by people who don't care about insurance costs, who will put in fill dirt and raise the lots up or will put them on pilings. All the small family homes and cottages that people had owned for decades, replaced with mansion vacation homes.
😂 You’re probably right. The problem is alot of these homes are old and not built to the current hurricane codes. An event like this is extremely devastating and the only good that will come out of it are new homes built to current codes. Thanks for watching and the feedback 😊🙏🏼😃👍🏼
There are many benefits to having a home on sturdy stilts/pilings. One is lower insurance! They are cooler, have better views and I think very beautiful. It should be the standard in these areas. I've watched other videos of people walking thru wrecked neighborhoods, ground level houses destroyed but elevated homes seem untouched. Building in these areas at ground level is foolhardy and developers and "realtors" who promote these home should have their licenses revoked.
@@zsigzsag ramps are not practical for a 10 foot build height. I had a friend on the Outer Banks that had a home that was elevated over 6 feet above ground level that the previous owner had put a ramp in for and it was absurdly steep and still took up an enormous amount of room. The type of elevators being installed in these homes have all of their lifting equipment built into the top of device. When it is raised and locked into place the only thing at ground level is a guide rail system without electrical components that can be damaged by floodwaters. The home right across the street from my mother's house has one in fact. These are not like the traditional building elevators you are probably thinking of. It's much closer to the design of a dumb waiter in a large manor house except it's normally outside on one of the decks or balconies instead of indoors.
Thanks for watching the video Joe 😃👍🏼 Only one way to find out. Put it up for market value and see if it sells. One day people will look back on this and say it was an amazing time to buy discounted waterfront property. There is very little waterfront left and they can’t make more of it. ☀️🏖️😃👍🏼
Born & raised in Florida and I can honestly say I would never live anywhere else. Hurricane's are a fact of life here or anywhere else you move to. I personally would never buy a house on the water or a house that has had that much flood damage.
Thanks for the feedback from a true Floridian Mike 🫡 🇺🇸 Most of the negative comments live in cold weather and gray skies and have no idea what paradise on earth is. We do😊👍🏼🙌🏼
You are 💯 correct. Do you know Texas gets over 130 tornadoes a year. Every state either floods, quakes, blizzards tornadoes, or hurricanes. We deal with it and get to enjoy paradise the rest of the year 🙏🏼🇺🇸😃👍🏼 Appreciate you watching.
Yeah? Well I can tell you for a fact that corporations out of California are buying them. Cheap. I personally cleaned out 3 of them in Tampa. Corporate entities have been buying up Florida for years. It's the new California without the taxes.
@ashleighelizabeth5916 Agreed. Floridians have no idea just how much residential and commercial real estate is being gobbled up by corporate entities. Regardless of what our Governor says, international investors are feeding on the market also. Mainly eastern Europeans.
Great content! I lived in Florida for 6 years and ended up leaving after a hurricane in 2018 wrecked my house and working truck...Florida was great but I am so glad I moved to Georgia...that Hurrican Helene did a number here, but not nearly as bad as Fla or NC
Hey Anthony😃👋🏼 Thanks for watching and for the feedback 😊🙏🏼. Sounds like the hurricanes are following you! 😂. Glad to hear you didn’t get hit to hard by Helene🙏🏼 We’re in St Pete and luckily didn’t have any real damage from either one. Thanks again for watching🙏🏼
Thank you for this update; especially the FEMA nightmare specs. I used to visit my Grandmother there' great memories. Now? I would not pay $200k for a $1M house! Nope!
Thanks for watching and for the feedback Guido😃👍🏼 Sounds like awesome memories of growing up😃🙌🏼 I love it. People are definitely paying it. These houses just need to be elevated.
I live in Redington beach off 161st St on the water... lost my house in helene... the beaches aren't going to get back to normal for a long time unfortunately
Hey Doug😃👋🏼 Did you watch the full video? FEMA is imposing the crazy permits. I don’t know where you live but I’m pretty sure in your state, if you expose the inside of a wall by removing drywall, you will need a permit to put it back up. That’s build code. Also, I’ve never had an issue getting a contractor. 🤔 Is your state full of great contractors?
Prices are up in South Bend Indiana, but you can still get a residential lot starting around $6,000 for your online empire. Amazon is building an $11 billion project in the area too.
The other my colleague told me her mom bought a sea front home in Nova Scotia for retirement. I was like what!? It’s not like she hasn’t seen what is happening recently….
People are snapping up redington beach properties! Great time to buy the land! No more land being made at the beach! Buy the lot, tear down the existing house, and sit on the land for 5 years! Bam double your money. Empty lots don’t have to worry about floods, or hurricane. People are snapping up these homes quickly!
LAND OF THE FREE give me a break, rules, regulations, permits for flooring, code compliance, licensed contractors only, FEMA creating room for the rich, increasing property tax income.
I agree. Where I am from, people would think you were crazy if you built that close and low. They would still think it's insane and a sad waste of money. We build on rock cliff faces if it's that important, but most of us have our houses no closer than 100 yards and no lower than 30 feet above sea level. Of course, we have millionaires that build right on the water because they could care less if their 2 million dollar houses get crushed. There's not many of them around. Most of us have to practice common sense.
A lot of these homes were built back in the 1930's to 1960's, this is the first time in over 100 years that Pinellas county was hit with anything greater then a Category one storm. Helene was a giant storm which didn't hit Pinellas county, but because of it's size the storm surge on the western coastal areas of the county. Milton hi south of Pinellas county , but the county's eastern side caught the business end of the storm and flooded everything on the eastern side of the county. Again, storms like this never happened in Pinellas county for over the last 100 years.
They’re selling. Nobody is ABANDONING their homes. And FEMA does NOT set building codes. Local municipalities set building codes, often using FEMA guidelines.
@@GrantWarrington The sea level is going up, the hurricanes are stronger and more often. This land can only get harder and harder to sell, where is the bottom?
@5:05 If I pull my own permits and do the work, I can't sale my house for a year...? Where in the FEMA guidelines is this, I've never heard of such a thing. I just got off the phone with a FEMA representative and they said they've never heard of such of thing. Please advise, because I want to make sure this is correct information.
Hey Chuck👋🏼 That was news to me too. 😳 Please don’t take FEMAs advice without consulting an expert. We all know how it can change from person to person. Reach out to Mike from the video. I included his contact info in the description. He’ll be able to help you 💯 . Keep me posted what you find. 🙏🏼🙏🏼
@@GrantWarrington I apologize, he was 100% right. The City informed me that when you sign the "owners disclosure form" to obtain your own permit, you must agree not to sell for 1 full calendar year and or rent. But if I pay a contractor to do the same drywall work, "it's all good." I don't get it, but it is what it is...
when i look at these homes i see a raised foundation utilities pushed thru to what an 6 foot platformed home with cement poured walls from the existing footer then simple driveways ro enter garage or carports few steps in few steps out incredibly strong footers to contain the home from storm surges and your home llikely the rubble from other homes can fill the foundations to finished slabs then use concrete walls to the roof line and tile backer board inside 4 feet up from there and tiles everywhere floor to first 4 foot the tiering to the water and front yard with several outdoor lounge areas to further enforce the raised foundations Frank lloyd wright wrote a lot of material praising raised foundations
Hey Johnny👋🏼 That’s the entry level. You can get crazy as you know and get up to $1,000 a sq ft 😳 for a bad ass custom crib. 😃👍🏼 Appreciate the feedback man. On a side note. I worked with an Iron Worker named Johnny G back in the day in Detroit. 🛠️🏗️😃👍🏼
I live on the West Coast Washington state and people are losing their properties up and down the coast houses falling into the ocean and no way would I buy any property close to our beaches. And if you’re property is not protected by lots of trees etc., you literally get pounded by the wind
In engineering, play the beach play pillars in to your foundation all the way down to bedrock to stabilize your structure. The same way they build the Publix in treasure Island Florida.
Honestly, that house looks like it was crap before it got flooded and the land was all the value anyway. Nobody that could afford that lot would want that house but I wouldn’t want that lot because of flood risk. Where I am from insurance won’t cover you if you build on the ground that close to water anyway.
That lot isn't worth $1.2 mil which is what the country said it is. It's getting offers of less than $875. Tells you all you need to know about county assessors.
The realtor says, that area in the future will look like Palm Beach/Naples. Actually no, it's not going to look like that. It's going to be a whole bunch of empty lots because there are very, very FEW people that can afford those elevated homes. First, you have to pay a disgusting amount of money for the lot and then build from scratch and thanks to inflation that puts it out of reach for 99% of the population. Additionally, since these homes have to be demo'd. Who pays for that? That wouldn't be cheap either. Probably have to pay $100K to demo a single level house mostly because of the landfill fees.
Appreciate the feedback and thanks for watching. 😃👍🏼 Demo is $10K to $20K depending on size. You can negotiate that off the asking price, or it might be discounted for it. There are a lot of people that can afford this from all over the world. It’s still real estate in paradise and it’s very desirable.
I think you have severely underestimated the market for waterfront property in Florida. People that can afford the 800-900,000 lot and an additional 1-$2 million to build a home will be lined up to get these properties.
Something that is NOT discussed in this video is the availability of flood insurance and home owner's insurance both of which are becoming increasingly expensive and difficult to get. Just because you build code compliant or FEMA compliant doesn't mean you will automatically be able to get insurance or at least get insurance you can afford. Without insurance you aren't getting a mortgage. There are only so many millionaires out there that can buy these lots or homes and get them rebuilt, there are only so many investment firms and there is a limit to the amount of capital that can be put into them and there is just a limit to how much people can pay for a vacation rental which is what a lot of these homes will become. And that doesn't even factor in the fact that if all of that happens on a mass scale local labor will be priced out of the market for living in the area. You can't have a viable economic model if people can't afford to live in the area they work in long term. TLDR version: these guys are ignoring a lot of factors when they say the value of the new build homes are going to go up and they have an overly optimistic view about what the future for areas like this will be.
@@GrantWarrington grew up on the Outer Banks of North Carolina, currently in SE Texas near Houston/Galveston. I have a first cousin who heavily involved in property development in S. Florida as well.
The ONLY way I would want to live on the water in FL now is if I could have a park model log cabin, and keep it on its wheels - so it would be ready to be hauled out of there in case of a hurricane. I'd hook it up to the truck and haul it out, then bring it back and re-attach everything after the hurricane and flood. But, of course government will not let you do that, so we're going to keep on seeing this kind of damage to buildings until people finally realize that we weren't meant to live by the water in a hurricane zone.
Like the idea Derek. There are parks on the water that might allow that🤔. I think these homes need to up to code and that will solve these problems. 👍🏼 Appreciate you watching. 👍🏼
Hey Dana👋🏼 I’m not positive if there are height limits. If you watch the video again, the 2 houses that have the garage on bottom in the example showing you what this property will look like are really high. Those 2 houses are right across the street from this property. I don’t think there are limits. Takes a year to build a pool bc of the permitting process. Cities take…..their……time….. 😂👍🏼. Great questions. Thanks for the watching and for asking 😊🙏🏼
@@GrantWarrington With what our new leader has in store, I suspect the time to get a permit will be greatly reduced. It WAS about laundering money but now that the swamp has been, or is being drained, we should see great improvements! My next question would be dogs on the beach. In GA, some beaches won't allow dogs. YW!
Ha! related - Had a few Flight School buddies living in a beach house set to be demolished in Vero Beach ....we called it The Shiteau We even used a sledgehammer to knock off pieces of wall for the fireplace :) Think the "Fight Club" house.
Great report. Most that are commenting on this report are not in realty about cost to repair or replace under current codes. The newer modern homes " 2000 up to current date" built under the new codes did very well on the beaches/islands.
Excellent point 👍🏼😂. Thanks for watching and giving feedback. 😊🙏🏼I’m seeing a lot of guys that live up north in corn country who are experts on Florida waterfront homes all of the sudden 😂.
Here's what I WISH they would do with these flooded out homes.... set them up for use as individual, private RV lots. This way they can be used as Snow Bird 🐦 properties. NOVEMBER thru MAY... then Drive Away. My family 'self insured' and enjoyed winters on a barrier island for almost 50 years. I agree that NOW no one should be building on barrier islands. We took a tiny ferry to Sanabel Island.. in the late 50's BEFORE the causeway was ever built. We camped on the beach... with no one in sight. Those WERE the days. 🌴 Tooo many people in Florida these days. 😢
@@butterflygirl2285 Exactly. 40 years ago If you had a decent job you could buy beachfront in Fla, now Its doctors, lawyers CEO"s or transplants. Locals are priced out of the market.
You would have to be CRAZY to buy that kind of property right now. As within the next 3 to 5 years that property will be LUCKY to be worth half that ptice. I lived in Florida during the 08 housing crash. And I saw this happen first hand to a bunch of ppl. We got lucky and were able to pick up a foreclosure for 40 cents on the dollar, just 2 blocks over from where we lived at the time.
That’s awesome😃👍🏼 I know a ton of people who are still waiting on the next 08 crash. It won’t happen. Even if it did…we would all buy as many houses as we could. Which would drive up prices.
@@GrantWarrington We're all waiting for the next crash. But unfortunately things are very different this time around because of the issues regarding the weather, insurance and condo safety issues. People around the country are not looking at Florida the same way they used to. And this will have a significant impact on population growth going forward. And because of this, we will never again see the type of run up in prices that we saw from 2008 to 2022.
I disagree. Florida is extremely desirable real estate in paradise. 950K people moved here in 2023. A Major dips in housing prices will cause massive purchases. I’m also not waiting for the next crash. If I would’ve done that… I wouldn’t have been able to retire early thanks to real estate investments.
@@GrantWarrington I was able to retire early a few years ago as well. In part, due to a couple of real estate sales in Florida and Tennessee. And here are a few points about your statement: 1) '950k people moved here in 2023'......................that number does not include the people that moved OUT of the state. In other words, that number of 950k is not the actual 'net migration' number. It if IS the net migration number, please send me a link where I can see this for myself. Because from all the data that I see, the migration trends into Florida are actually going down. Not up. And unless the issues with the storms, the insurance crisis and the condo safety issues are resolved, that trend will not be going back up anytime soon. 2) The concept of Florida being some sort of 'paradise' is highly dependent on several factors. As it all depends on where you live in Florida and what times of the year you live there. This is coming from someone who lived in (arguably) the most desirable parts of Florida for over 30 years (South Florida). I always lived relatively close to the water and always had a decent job. And you know as well as I do, that living in Florida full time is NOT the same as visiting a few weeks out of the year during the winter months. Not even close. The job market is horrible (which creates all sorts of issues with crime). And the summer heat/humidity is nothing short of oppressive. This is BEFORE we even consider hurricanes, insurance and the condo safety issues. CONCLUSION: Yes, some money can be made if you time your entries and exits properly. But the level of profits that were made between 2008 and 2022 will never be seen again.
Thanks for watching Odessa😃👍🏼 You’re right. It’s a pretty sad situation for a lot of people. I’m hopeful they will be able to sell the land and move on. Still tough to go through for anyone. A lot of people lost everything 😔 I appreciate you watching and commenting 😃🙌🏼
Just looking at the situation where those houses are built would give me pause. They are obviously too close to the water and obviously not high enough. I grew up in the country, and as pretty as it might be, you don't build right next to a creek, river, or lake. Any water anywhere has the potential to destroy property. It's always best to keep a healthy distance.
Same to me!! That’s why I reached out to Mike. He explains it very well. It was fun learning and shooting this in such a beautiful setting. (Not the inside of the house of course😂).
When we moved to Florida more than 20 years ago our realtor told us to avoid Shore Acres because of the flooding problem. This is an issue when the area receives anything above the average rainfall. It is not new to post Helena/Milton. The homeowners who purchased in Shore Acres did not read the property disclosures, the previous owners lied on the disclosures, or they had bad realtors who did not warn them to avoid shore acres. I do feel bad for the people in areas that live outside a flood zone that were flooded, some by a 1,000 year flood, but Shore Acres floods on almost a yearly basis. There is no real story here except that people buy there were ignorant (not in a mean sense), didn't care, or FEMA should have blacklisted the area years ago due to the number of claims.
FL just passed a law that you have to disclose if your home was ever flooded this year. I feel sorry for anyone that loses all their possessions in a disaster.
@@GrantWarrington It has been on the books in Pinellas county that owners had to disclose flood damage for 25+ years. I feel bad for anyone new who bought in Shore Acres in the past year or so, but every year there is news footage of residents canoeing to get to their property when there is a thunderstorm much less a hurricane or tropical storm, especially if one stalls. They needed to raise the flood rating on Shore Acres years ago. I had property the county wanted in another state so asked FEMA to move the the zoning from a flood zone to plain to legally condemn the property, but they did have to pay fair market value. Now the county built concession buildings, docks, and other buildings. The gov't and insurance companies are partly responsible for Shore Acres, they should have changed the zoning years ago or upgraded the storm water removal system. This isn't a neighborhood that floods with every 100 or even 10 year storm, it floods with practically every storm.
Can a buyer just tear the house down and just park an RV? Is it allowed in this community? That way you don’t worry about insurance and just drive in land or out of state when there’s hurricane 🤷♂️
Just fantasizing what to do with that beautiful piece of land by the water. Me arriving with my RV pulling my boat. The first thing I’m gonna do, before any water activity is to get my pickleball net out and play pickleball with my wife over that slab 😂 Then maybe we can go boating after 🤣
I have never understood peoples obsession with being so close to water if it is salt water everything rusts the winds are always stronger off of open water. Obviously there is regular flooding etc especially from rivers. In the old days being close to the sea or a river was because freight was most likely shipped in and land transport was slow and expensive, unreliable etc. But now days living near water is pointless as it just leads to massive insurance costs if you can get insurance at all?
I live nearby. Only the rich will be able to afford waterfront property now. I live in a senior mobile park and we miraculously escaped any damage from Helene and Milton even tho we were in an evacuation zone. It was the surge that did the damage, not the rain and winds - which were negligible. I met a man 10 years ago in his 80s, now his 90s who said before taxpayer funded flood insurance only the poor lived on waterfront in his youth. The rich lived on high ground. In just half a century we did a flip.
A ground level house is just asking for it. You can build a highly hurricane resistant house on concrete pilings. Really the entire structure should be poured concrete, hurricane windows, metal shudders and a metal roof.
I love ❤️ how our tyranical gov works & insurance co , they appraise your house for taxes on the land also value . But when it benifits you they don't include the land value . Fkn sickening
My dad decades ago had a chance to buy some beautiful riverside property, but walked away. Said the river always wants to come visit you. Years later, he was proved right. The river flooded that property and a lot of people lost their pricey vacation homes….
There are also a lot of people that made a ton of money off that property your Dad never bought. It’s easy to do nothing and then 40 years later say “see…I was right”. He missed out on
These homes should not have been allowed to be built. STOP building on barrier islands and next to the water. No government or insurance should pay for damage.
Unfortunately you are 💯 right. This area hasn’t been hit with a direct hit in over 100 years. Thats why all these old out of date homes are still in this area. It’s sad but true. 🙏🏼
With the invent of cloud, coastal properties all at a major risk. Most are not even covered by insurance companies anymore, especially in California. It’s the perfect storm!
Knowing Florida's track record for hurricanes.... THOSE PROPERTIES SHOULD NEVER HAVE BEEN BUILT THERE IN THE FIRST PLACE ...👿😈😠😡 Greedy home builders wanted to build anyway as long as the homes were sold BEFORE a hurricane. 😠😡 Waterfront properties are not a good idea in the state of Florida and everyone knows why. 🙄🙄
I dont get how they say depreciated vale of a home but hime prices do nothing but go up and then they talk about land value. Real estate companies set the price of a home based on what people are willing to pay not yhat its actually worth that. U could vuild a 70k house n 6 months later its 120k theres only depreciation when theres some disaster
@@GrantWarrington I'm considering moving to Florida and am a contractor. That would save me a lot of money if I could keep the original foundation and framing according to county codes. I might consider purchasing a beach front property because of this.
The people selling this lot for 800K aren't going to get anywhere near that and the realtor should be honest enough to tell them that. Who pays for the tear down and removal of the house and how much does that cost? 600K, the difference between 1.4m and the amount for the land, gives the buyer enough money for a 1500sqft house, but doesn't include the teardown or any other issues that may have to be addressed. That land isn't worth any more than 500K and I wouldn't even pay that. These people need to get real with their pricing before anyone is going to take them seriously. The realtor needs to be frank with these sellers instead of encouraging this nonsense.
Exactly. 👍🏼 So if you wanted to buy this property before. You’d have to spend $1.4m, tear down the house and build new. Now you can buy the lot for $875K, spend $20K to tear down the house and build new. It’s a great deal for a new buyer 👍🏼
@@GrantWarrington Great time except the house would be, for all intents and purposes, uninsurable, and remain in a high-risk flood zone. I guess one could construct a more "resilient" dwelling, but that would be pricey, with a likely non-linear relation between risk mitigation and cost of construction. How high should it be elevated? Are there any zoning restrictions that cap elevation? Mechanicals, i.e. HVAC, elevated as well? Shielded from wind? Equipped with deployable wind shroud/shields? Same for solar panels. Cistern for potable water supply to bridge water supply disruption? Septic? What assumptions re public infrastructure resilience are factored into price you cite?
That polluted water decreases the value of the property more than the hurricane did. Anyone with enough money to buy a waterfront home like this is going to look around until they find clear water where you can see the bottom. Nobody wants to swim in or eat fish taken from water that is so polluted.
They are called "barrier islands" for a reason. It's like insuring the trenches that provide defense for a fort or town. You know that they are going to go early in an attack. They are disposable.
If u really truly love florida 4 life...buy a small multi family ..self insure and do not tell any1 u self insure. U need the extra residence so u can have a place 4 ur future caregivers 2 live onsite. Bigger is not really better in florida. Small is exceedingly more manageable 4 elders. Stay off the roads as much as possible. Have items delivered. ❤🌎❤ winter is cancelled❤
![I.N "HALLUCINATION" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/n5B5q1Hwt_U/mqdefault.jpg)
my dad used to build beach-front homes in the 1960's. all the houses he built were on pilings and the lowest occupied floors were at least 10 feet above sea level. looking at these houses, they seem about 4 feet above sea level. it was only a matter of time.
Correct Kurt. Thanks for the feedback. Florida only update its building code to be more strict in 2022. There’s gonna be a lot of building back. 👍🏼. Where was your Dad building back then?
@@GrantWarrington dad built on the new jersey shore and especially surf city and ship bottom on long beach island. he and his father and one uncle would spend the summer building a house. we'd live in that one while they built the next. most of them had no air and little heat as they were not meant as year-round housing. as i remember, none sold for over 20k.
@@GrantWarrington
Florada people have a right to be stupid
Just don't expect others to foot the cost
@@GrantWarrington 2022? What lunacy!!! I grew up on the Outer Banks of North Carolina and every home I ever lived in there was built at least 10 feet above the ground it was sitting on. Most of my friends in high school had houses that were built the same way. That was over 30 years ago. It's quite frankly unbelievable that it took Florida this long to catch up on such a basic concept.
@@GrantWarrington This is just not true. Florida updates it's building code every 3 years. Now if you want to talk about flood levels those are determined by FEMA that updates it's maps every 5 to 10 years
This Realtor made this so very easy to understand! Thank you for having him as a guest and letting him speak about this.
@@MouseToes Thanks for watching and for the feedback. 😊🙏🏼Mike was awesome and I learned a ton from him. I completely agree…he knows his stuff and I had a great time making this video with him. 😃👍🏼
A permit to paint a house.....what a joke.
Yep 👍🏼
Where do you think Democrats from the North East move to and then ruin?
Florida God's waiting room
It's not surprising that RUclips commenters living with their parents don't know what the fuck an HOA is.
Ridiculous rip off
rebuilding a property in à high risk flood zone is absolute madness, the sea wíll ultimately take the land over time,
All waterfront land is high risk flood zone. That’s why you have to build up out of it.
@@GrantWarrington🐿💨
@@GrantWarrington absurd. waste of money. you will never win fighting the ocean will take all your effort and drown it.
@@GrantWarrington So when the next storm swamps the area, the house will/may be OK , but all your cars in the garage will be destroyed-flood damage. Great.
@@terry_willis yup. And that doesn't even account for the cost of the infrastructure that has to support that home and the town or city it's a part of. This isn't sustainable long term without a severe reassessment of the needs of the community. And any dip in the economy or the real estate market unrelated to the weather hazards of Florida are going to hit these areas very hard.
I think owning waterfront property is literally the worst investment that you can do for owning a home because in my own opinion this isn't the Florida of the 1950s where the population wasn't that dense and a lot of the state was still forest and farmland so naturally it would slow down hurricanes and break up the winds so that the impact wasn't felt as directly and now that since everything is being built up and they're destroying a lot of the natural protection along the coastline and getting more towards the center of the state economically this is going to destroy everyone because as long as we keep doing this the hurricanes are just going to get more powerful and get pushed up to the center of a state which will flood out everything again and again. If you cannot self-insure these homes or have a business that is able to cover the ever-growing cost of home ownership then walking away is probably the best thing. Over in Sarasota out by the bay they have so many of these mega mansions that are literally not on even a third of acre of land that are going for over tens of millions of dollars just to be able to have access to the water or your own private area and most of them look deteriorated and not well kept up. I don't know how the governor is going to fix this issue when it comes to the insurance problems I Believe by the beginning of next year the economy is going to fall out with the housing and condos and we're going to come back down to 2018 levels I think.
Thanks for the feedback Marcus. I appreciate you watching🙏🏼😃👍🏼 Waterfront land in paradise I believe will always be desirable. My biggest complaint is that we don’t build like every island in the Caribbean….with block homes. No wood. Im pretty sure most other countries build with block too. Not sure why we are stuck building homes in a tropical storm region🤷🏻♂️
@@marcusdisalvio1804 where going to get back to location, location, location 😁
@@marcusdisalvio1804 The government doesn't to fix it... Mother nature's going to fix it with God's help... cause you can't fool Mother nature 🙏
@@marcusdisalvio1804 The government doesn't have to fix this.. Mother nature's going to fix it with God's help.. and we're going to come back down to reality..
Knowing that everything belongs to God.. the all mighty creator of Heaven and earth and everything in it!!!!...wtf
Cartels will always buy 😂 they need to money launder their money and that's Florida it's well know for that hahaha😊
These homes look like they were built in the 1960s, worthless home with expensive property. These beach homes have to be built on stilts and made of concrete
Thanks for the feedback Phillip😊🙏🏼. You’re absolutely right. They were built in the 1950s and 60s. Some even older. These homes weren’t built to new hurricane codes obviously. Now they will be. It’s unfortunate that it takes mass devastation for progress.
That's what they do in Outer Banks NC
@@mattneil1449 spot on, although concrete is still not widely used there. But we've been using elevated building methods on the Outer Banks for 30-40+ years now. Anything like the home above that is still there is likely built in the 60s or earlier and of those most of them are cinder block structures.
Florida is a done state.
@@yoyo8303please leave
We need to stop spending tax dollars to make these islands livable again. We should abandon all flood risk property.
stop supporting the people running wet surface air coolers maybe
Or just place ALL risk on the owner.... no FEMA, govt assistance etc. And require some bond or escrow to cover cost of removal next time the structure is damaged in case the owner can't cover it.
So by abandoning any properties near a coast, how far inland would you suggest people live? Would that include lakes and rivers also?
Turn them into parks
Good point 👍🏼
Unfortunately, no one should have been allowed to build on barrier islands. Barrier islands are, by their very nature, temporary. So the land value should be small as well. In the old days, no one built on the beach due to the storms and your cars would rust, to boot. If they did build, it was a beach shack, that could be easily rebuilt given a storm. The FEMA rules are basically killing off the barrier island houses…and this is good actually.
Appreciate the feedback, thanks for watching. 😃👍🏼
We left Pinellas in county in 2019 after living there since 1973. We love our new home in Tennessee and the cost of living is a fraction of what it is in Florida. Get out while you still can get a good price.
Glad to hear you’re enjoying it. Unless you’re in Nashville. Tennessee is kinda boring isn’t it? And cold.
I abandoned mine..1.5 million dollars home in Leesburg Florida..
My insurance refused to help.
So sorry to hear this Anthony🙏🏼🙏🏼🙏🏼 Have you looked into getting a public adjuster? Another option is to reach out to Mike in this video. He’s helped a lot of people that thought they were out of options. He could at the least go over options and point you in the right direction. His contact info is in the description under this video. Please keep me posted on how this works out for you. Praying for ya man 🙏🏼
@@GrantWarrington I had to hire a laywer.
I hope it works out for you man. I’m rooting for you!! 😃🙌🏼 Please keep me updated on how it turns out🙏🏼 I got a good feeling it’s gonna end up great 👍🏼
Sorry to hear.
Living on top of water is the least desirable living.
Louie Anderson did a skit about flooding. He said, "after the 1st time, don't you get it?"😅
This is the first time these houses flooded. 👍🏼
@@GrantWarrington And is will NOT BE THE LAST. Get it?
I'm tired of subsidizing fat wealthy boomer retirees from the North. These rich f***s should go build homes somewhere else. Not in the known path of hurricanes where they are the most vulnerable.
@@GrantWarrington No it isn't.
I live right outside of New Orleans. Although we all have flood insurance, etc., our biggest obstacles are the Insurance Companies! With each storm comes new “interpretations/revisions.” 🤨
Good point. 👍🏼
Basically insurance companies most just collecting tax and try to no pay anything when needed.
Judge Judy said you have to sue insurance companies.
Friend from New Jersey, multi millionaire, moved to Tampa area 6 years ago beach-side.
Opend a restaurant, said biggest mistake of his life. He said everything constantly needed to be replaced due to salt water and air, house had ro be rebuilt due to hurricane damage, insurance rates were astronomical. They closed up and moved to Tennessee last week.
Restaurant is a tough gig. Glad they're doing okay in Tenn. FL is amazing btw. 950K people moved to FL in 2023. That over 2,600 a day!
Do not spend tax payer money on this bs land .
What would you allow FEMA to spend money on?
@@GrantWarrington i live on a river in north dakota. a lot of the wealthiest neighborhoods build on rivers here as that is the only "water front" we have, brown dingy rivers. that being said, THEY ALWAYS FLOOD!! and then fema comes in and gives money to us upper middle class families that choose to live here. it really does make no sense. same as with any body of water.
So true! If they choose to live in a high-risk area then they need to be able to afford the repairs! Our tax dollars should be put to better use!
@@GrantWarrington nothing, as I would shut diwn that corrupt bureaucracy
As a licensed building contractor since 1978 and home inspection company owner since 1992 we have seen it all. It was only a matter of time before we had a hurricane season that would expose the benefits of the new codes compared to the old.
Good point😃🙌🏼. St Pete hasn’t been hit with a hurricane in over 100 years. Which is a great thing. But it’s also a bad thing because all of these older properties are still hanging around. Homes built up to the new code will change everything.😃👍🏼
We saw the same thing in Mississippi after Katrina. I already know what will replace them based on what happened here. Giant mansions owned by people who don't care about insurance costs, who will put in fill dirt and raise the lots up or will put them on pilings. All the small family homes and cottages that people had owned for decades, replaced with mansion vacation homes.
Yep. Its coming.
glad to hear all of this. People need to get a grip down there. You need to be either quite wealthy or nuts to wan to live on the water down there.
😂 You’re probably right. The problem is alot of these homes are old and not built to the current hurricane codes. An event like this is extremely devastating and the only good that will come out of it are new homes built to current codes. Thanks for watching and the feedback 😊🙏🏼😃👍🏼
Most folks who can afford these are aged and I suspect those elevated homes will not be very appealing.
Thanks for watching Rick. 😃🙌🏼You got a good point. But there’s a lot of people in their 30’s and 40’s buying these homes. 👍🏼
There are many benefits to having a home on sturdy stilts/pilings. One is lower insurance! They are cooler, have better views and I think very beautiful. It should be the standard in these areas. I've watched other videos of people walking thru wrecked neighborhoods, ground level houses destroyed but elevated homes seem untouched. Building in these areas at ground level is foolhardy and developers and "realtors" who promote these home should have their licenses revoked.
A lot of people will get elevators installed.
@@ashleighelizabeth5916 A ramp much better and will accommodate those disabled. Flood waters might damage an elevator.
@@zsigzsag ramps are not practical for a 10 foot build height. I had a friend on the Outer Banks that had a home that was elevated over 6 feet above ground level that the previous owner had put a ramp in for and it was absurdly steep and still took up an enormous amount of room.
The type of elevators being installed in these homes have all of their lifting equipment built into the top of device. When it is raised and locked into place the only thing at ground level is a guide rail system without electrical components that can be damaged by floodwaters. The home right across the street from my mother's house has one in fact. These are not like the traditional building elevators you are probably thinking of. It's much closer to the design of a dumb waiter in a large manor house except it's normally outside on one of the decks or balconies instead of indoors.
Still over priced
Thanks for watching the video Joe 😃👍🏼 Only one way to find out. Put it up for market value and see if it sells. One day people will look back on this and say it was an amazing time to buy discounted waterfront property. There is very little waterfront left and they can’t make more of it. ☀️🏖️😃👍🏼
@@GrantWarrington Spoken like a true used house salesman. But you're probably right, there's a sucker born every minute.
@@GrantWarrington THE NEXT STORM WILL MAKE MORE
😂 Ok. I’m not a realtor. You don’t think there’s value in waterfront land?
What do you mean? 🤔
Born & raised in Florida and I can honestly say I would never live anywhere else. Hurricane's are a fact of life here or anywhere else you move to. I personally would never buy a house on the water or a house that has had that much flood damage.
I wasn't born here but I been here most of my life and have no plans to ever leave. Every state has their own issues...ours is hurricanes.
Thanks for the feedback from a true Floridian Mike 🫡 🇺🇸 Most of the negative comments live in cold weather and gray skies and have no idea what paradise on earth is. We do😊👍🏼🙌🏼
You are 💯 correct. Do you know Texas gets over 130 tornadoes a year. Every state either floods, quakes, blizzards tornadoes, or hurricanes. We deal with it and get to enjoy paradise the rest of the year 🙏🏼🇺🇸😃👍🏼 Appreciate you watching.
Yeah? Well I can tell you for a fact that corporations out of California are buying them. Cheap. I personally cleaned out 3 of them in Tampa. Corporate entities have been buying up Florida for years. It's the new California without the taxes.
Good point 👍🏼
That corporate real estate investing crap is going to ultimately kill our housing market. It's already putting added stress on it.
@ashleighelizabeth5916 Agreed. Floridians have no idea just how much residential and commercial real estate is being gobbled up by corporate entities. Regardless of what our Governor says, international investors are feeding on the market also. Mainly eastern Europeans.
Chinese investors will be owning a lot of Florida eventually
Great content! I lived in Florida for 6 years and ended up leaving after a hurricane in 2018 wrecked my house and working truck...Florida was great but I am so glad I moved to Georgia...that Hurrican Helene did a number here, but not nearly as bad as Fla or NC
Hey Anthony😃👋🏼 Thanks for watching and for the feedback 😊🙏🏼. Sounds like the hurricanes are following you! 😂. Glad to hear you didn’t get hit to hard by Helene🙏🏼 We’re in St Pete and luckily didn’t have any real damage from either one. Thanks again for watching🙏🏼
HAARP did it, son. Just wait until next year! The disasters will be 10 times more frequent and another 10 times more devastating.
Thank you for this update; especially the FEMA nightmare specs. I used to visit my Grandmother there' great memories. Now? I would not pay $200k for a $1M house! Nope!
Thanks for watching and for the feedback Guido😃👍🏼 Sounds like awesome memories of growing up😃🙌🏼 I love it. People are definitely paying it. These houses just need to be elevated.
Im glad that i found your down to earth channel. A big problem in pinellas is drugs.
Thanks for watching. 😃👍🏼
I live in Redington beach off 161st St on the water... lost my house in helene... the beaches aren't going to get back to normal for a long time unfortunately
Sorry to hear that🙏🏼 It’s gonna take some time. I appreciate you watching and giving feedback. I hope you’re doing okay 🙏🏼
Thank you for sharing great real estate information.😊
Thanks for watching and for the feedback! 😃🙌🏼🇺🇸
I have family in Saint Petersburg I don't want to move there but I am impressed that their home took those storms like a champ 🙏🏿💪🏿
Hey Kaution 😃👋🏼 I live in St Pete too. My home had no damage from either hurricane. We’re in a no flood zone no evacuation zone 😃👍🏼🙌🏼
@GrantWarrington that's great glad to hear. I'm thinking about Tampa. I'm in PA. now. I just got back from Florida. Loved it can't wait to move.
Permission slip to put up drywall? No wonder florida has such a problem with getting construction workers
Hey Doug😃👋🏼 Did you watch the full video? FEMA is imposing the crazy permits. I don’t know where you live but I’m pretty sure in your state, if you expose the inside of a wall by removing drywall, you will need a permit to put it back up. That’s build code. Also, I’ve never had an issue getting a contractor. 🤔 Is your state full of great contractors?
Prices are up in South Bend Indiana, but you can still get a residential lot starting around $6,000 for your online empire. Amazon is building an $11 billion project in the area too.
But then you’re living in South Bend Indiana 😏
The other my colleague told me her mom bought a sea front home in Nova Scotia for retirement. I was like what!? It’s not like she hasn’t seen what is happening recently….
Nova Scotia homes are flooding?
People are snapping up redington beach properties! Great time to buy the land! No more land being made at the beach! Buy the lot, tear down the existing house, and sit on the land for 5 years! Bam double your money. Empty lots don’t have to worry about floods, or hurricane. People are snapping up these homes quickly!
thanks but no thanks...I stay away from this flood zone, not worth it people
@ wealthy people will always live on the coast, they have the means.
@@jazzyflorida3757and they can live with the worry every time the wind blows.
💯💯💯 Appreciate the feedback and thanks for watching😃👍🏼 This is waterfront real estate in Paradise.
LAND OF THE FREE give me a break, rules, regulations, permits for flooring, code compliance, licensed contractors only, FEMA creating room for the rich, increasing property tax income.
Reminds me when the fishing license was introduced. The government policing everything. The free was 100 years ago.
@@omegaman1409imagine protecting the marine ecosystem. So immoral and selfish.
@@sycomantz nonsense not even regulations are going to save the ocean.
What would you like to see implemented?
@@GrantWarringtonwhy even ask they're probably demorats that hate this country and always will
Great informative video, I subscribed.
Thanks so much Navso 😊🙏🏼 Glad you enjoyed and welcome to the journey 😃👍🏼🏖️
Why these houses built slab on grade in the first place is baffling…..
I agree. 👍🏼
I agree. Where I am from, people would think you were crazy if you built that close and low. They would still think it's insane and a sad waste of money. We build on rock cliff faces if it's that important, but most of us have our houses no closer than 100 yards and no lower than 30 feet above sea level. Of course, we have millionaires that build right on the water because they could care less if their 2 million dollar houses get crushed. There's not many of them around. Most of us have to practice common sense.
A lot of these homes were built back in the 1930's to 1960's, this is the first time in over 100 years that Pinellas county was hit with anything greater then a Category one storm. Helene was a giant storm which didn't hit Pinellas county, but because of it's size the storm surge on the western coastal areas of the county. Milton hi south of Pinellas county , but the county's eastern side caught the business end of the storm and flooded everything on the eastern side of the county. Again, storms like this never happened in Pinellas county for over the last 100 years.
They’re selling. Nobody is ABANDONING their homes. And FEMA does NOT set building codes. Local municipalities set building codes, often using FEMA guidelines.
Sean 😏 They are not selling this house. It’s worthless and abandoned. The bare land is for sale. Local municipalities have to follow FEMA rules.
Land value? What is the land value of ocean bottom land.
You don’t think there’s value in this land? 🤔
@@GrantWarrington The sea level is going up, the hurricanes are stronger and more often. This land can only get harder and harder to sell, where is the bottom?
@5:05 If I pull my own permits and do the work, I can't sale my house for a year...? Where in the FEMA guidelines is this, I've never heard of such a thing. I just got off the phone with a FEMA representative and they said they've never heard of such of thing. Please advise, because I want to make sure this is correct information.
Hey Chuck👋🏼 That was news to me too. 😳 Please don’t take FEMAs advice without consulting an expert. We all know how it can change from person to person. Reach out to Mike from the video. I included his contact info in the description. He’ll be able to help you 💯 . Keep me posted what you find. 🙏🏼🙏🏼
It's state rule.
@@chrissignal8857 That's funny.
There’s no such thing as FeMA guidelines for permits for paint, that’s fucking retarded.
@@GrantWarrington I apologize, he was 100% right. The City informed me that when you sign the "owners disclosure form" to obtain your own permit, you must agree not to sell for 1 full calendar year and or rent. But if I pay a contractor to do the same drywall work, "it's all good." I don't get it, but it is what it is...
when i look at these homes i see a raised foundation utilities pushed thru to what an 6 foot platformed home with cement poured walls from the existing footer then simple driveways ro enter garage or carports few steps in few steps out incredibly strong footers to contain the home from storm surges and your home llikely the rubble from other homes can fill the foundations to finished slabs then use concrete walls to the roof line and tile backer board inside 4 feet up from there and tiles everywhere floor to first 4 foot the tiering to the water and front yard with several outdoor lounge areas to further enforce the raised foundations Frank lloyd wright wrote a lot of material praising raised foundations
Appreciate the feedback! 🙏🏼
$300-$400 per foot for a raised house build? That's got to be a HD mega-spec special build.
Hey Johnny👋🏼 That’s the entry level. You can get crazy as you know and get up to $1,000 a sq ft 😳 for a bad ass custom crib. 😃👍🏼 Appreciate the feedback man. On a side note. I worked with an Iron Worker named Johnny G back in the day in Detroit. 🛠️🏗️😃👍🏼
entry level
I live on the West Coast Washington state and people are losing their properties up and down the coast houses falling into the ocean and no way would I buy any property close to our beaches. And if you’re property is not protected by lots of trees etc., you literally get pounded by the wind
How many houses actually fell in the ocean?
THEY ARE OLD, GROUND LEVEL, UNREPARABLE AND UN INSURABLE.. THEY ARE ALSO NOT MORTGAGABLE
Stop yelling 😩
Yup
In engineering, play the beach play pillars in to your foundation all the way down to bedrock to stabilize your structure.
The same way they build the Publix in treasure Island Florida.
Great call. Thanks for the feedback John😃👍🏼
Honestly, that house looks like it was crap before it got flooded and the land was all the value anyway. Nobody that could afford that lot would want that house but I wouldn’t want that lot because of flood risk. Where I am from insurance won’t cover you if you build on the ground that close to water anyway.
Appreciate your thoughts 👍🏼
Reminds me the bolivar peninsula , just east of galveston
every twenty years a hurricane destroys it and they rebuild
👍🏼
And 50 years from today . The new homes built will be torn down and something else will be rebuild and so on and so on .
Maybe. Homes built today in the US are expected to only last 70 to 100 years.
That lot isn't worth $1.2 mil which is what the country said it is. It's getting offers of less than $875. Tells you all you need to know about county assessors.
It’s listed for sale for $875K. Only land value. No house.
The realtor says, that area in the future will look like Palm Beach/Naples. Actually no, it's not going to look like that. It's going to be a whole bunch of empty lots because there are very, very FEW people that can afford those elevated homes. First, you have to pay a disgusting amount of money for the lot and then build from scratch and thanks to inflation that puts it out of reach for 99% of the population. Additionally, since these homes have to be demo'd. Who pays for that? That wouldn't be cheap either. Probably have to pay $100K to demo a single level house mostly because of the landfill fees.
Appreciate the feedback and thanks for watching. 😃👍🏼 Demo is $10K to $20K depending on size. You can negotiate that off the asking price, or it might be discounted for it. There are a lot of people that can afford this from all over the world. It’s still real estate in paradise and it’s very desirable.
I think you have severely underestimated the market for waterfront property in Florida. People that can afford the 800-900,000 lot and an additional 1-$2 million to build a home will be lined up to get these properties.
Something that is NOT discussed in this video is the availability of flood insurance and home owner's insurance both of which are becoming increasingly expensive and difficult to get. Just because you build code compliant or FEMA compliant doesn't mean you will automatically be able to get insurance or at least get insurance you can afford. Without insurance you aren't getting a mortgage. There are only so many millionaires out there that can buy these lots or homes and get them rebuilt, there are only so many investment firms and there is a limit to the amount of capital that can be put into them and there is just a limit to how much people can pay for a vacation rental which is what a lot of these homes will become. And that doesn't even factor in the fact that if all of that happens on a mass scale local labor will be priced out of the market for living in the area. You can't have a viable economic model if people can't afford to live in the area they work in long term.
TLDR version: these guys are ignoring a lot of factors when they say the value of the new build homes are going to go up and they have an overly optimistic view about what the future for areas like this will be.
Where do you live?
@@GrantWarrington grew up on the Outer Banks of North Carolina, currently in SE Texas near Houston/Galveston. I have a first cousin who heavily involved in property development in S. Florida as well.
The ONLY way I would want to live on the water in FL now is if I could have a park model log cabin, and keep it on its wheels - so it would be ready to be hauled out of there in case of a hurricane. I'd hook it up to the truck and haul it out, then bring it back and re-attach everything after the hurricane and flood. But, of course government will not let you do that, so we're going to keep on seeing this kind of damage to buildings until people finally realize that we weren't meant to live by the water in a hurricane zone.
Like the idea Derek. There are parks on the water that might allow that🤔. I think these homes need to up to code and that will solve these problems. 👍🏼 Appreciate you watching. 👍🏼
Good explanation.
I thought so too. Mike is a beast man! 👍🏼
Just nuts. Greedy developement is expensive!!
Hey MJ. 😃👋🏼 It’s definitely not cheap. I appreciate you watching and the feedback. 😃👍🏼😊🙏🏼What do you mean by greedy development? 🤔
Best video yet Grant! 😀
Dennis!!!!!! 😃👋🏼. Thank you sir🫡🇺🇸 I always appreciate you watching man and thanks for the feedback 🙏🏼 Glad you like it 😃🙌🏼
how does drywalling and flooring need permit? c'mon
I know right. 👍🏼 Doesn’t make sense to me either but that’s the government for ya. 🤷🏻♂️
The walls have to be inspected after demo. The needs to be approval, because mold can cause health issues.
I would want an inspection.😊
Because lazy stupid people make shitty repairs then dump the house on people too stupid to do a proper inspection. Hope this helps!
@@lynnec6325 fair enuf
@@Mark-t9l7r fair enuf
Are there height limits on the new construction? Sorry if you said it - I missed it if you did. Also -why does it take a year to build a pool? TY!
Hey Dana👋🏼 I’m not positive if there are height limits. If you watch the video again, the 2 houses that have the garage on bottom in the example showing you what this property will look like are really high. Those 2 houses are right across the street from this property. I don’t think there are limits. Takes a year to build a pool bc of the permitting process. Cities take…..their……time….. 😂👍🏼. Great questions. Thanks for the watching and for asking 😊🙏🏼
@@GrantWarrington With what our new leader has in store, I suspect the time to get a permit will be greatly reduced. It WAS about laundering money but now that the swamp has been, or is being drained, we should see great improvements! My next question would be dogs on the beach. In GA, some beaches won't allow dogs. YW!
A permit to even paint? wow
I know 😏👍🏼
Ha! related -
Had a few Flight School buddies living in a beach house set to be demolished in Vero Beach
....we called it The Shiteau
We even used a sledgehammer to knock off pieces of wall for the fireplace :)
Think the "Fight Club" house.
😂👍🏼
Shore Acres floods with just a bad rain storm...
Yep. The last few years that is true. It wasn’t happening before that though. 🤔 Some people think conspiracy theory 🤷🏻♂️
Shore Acres was flooding a couple days ago, not a rain drop in the sky.
That place needs to be bought by the government and turned into a park.
@@GrantWarrington I don't know about that but it does need looked into.
Great report. Most that are commenting on this report are not in realty about cost to repair or replace under current codes. The newer modern homes " 2000 up to current date" built under the new codes did very well on the beaches/islands.
Excellent point 👍🏼😂. Thanks for watching and giving feedback. 😊🙏🏼I’m seeing a lot of guys that live up north in corn country who are experts on Florida waterfront homes all of the sudden 😂.
49% of the structure, not including the land.
Correct 😃👍🏼
What a scam!
Here's what I WISH they would do with these flooded out homes.... set them up for use as individual, private RV lots. This way they can be used as Snow Bird 🐦 properties. NOVEMBER thru MAY... then Drive Away.
My family 'self insured' and enjoyed winters on a barrier island for almost 50 years.
I agree that NOW no one should be building on barrier islands.
We took a tiny ferry to Sanabel Island.. in the late 50's BEFORE the causeway was ever built. We camped on the beach... with no one in sight. Those WERE the days. 🌴
Tooo many people in Florida these days. 😢
Sounds like some fun times and a great experience Faith😃🙌🏼 Thanks for sharing 😊🙏🏼
IMO - I hope Trump focuses on some of the FEMA rules that are making requirements and compliance so complicated, and forcing out the middle class.
FEMA definitely needs to be overhauled 👍🏼🇺🇸
@@butterflygirl2285 Exactly. 40 years ago If you had a decent job you could buy beachfront in Fla, now Its doctors, lawyers CEO"s or transplants. Locals are priced out of the market.
Towable homes. That's the answer. Tow them inland when the storm approaches, tow them back when it passes.
I like it 😃👍🏼
$875k for land is crazy. My house in the lower keys was 750K on the water..
Thanks for the feedback. What year did you sell your house in the keys? Before 2020?
@GrantWarrington bought in 2021
You would have to be CRAZY to buy that kind of property right now.
As within the next 3 to 5 years that property will be LUCKY to be worth half that ptice.
I lived in Florida during the 08 housing crash. And I saw this happen first hand to a bunch of ppl.
We got lucky and were able to pick up a foreclosure for 40 cents on the dollar, just 2 blocks over from where we lived at the time.
That’s awesome😃👍🏼 I know a ton of people who are still waiting on the next 08 crash. It won’t happen. Even if it did…we would all buy as many houses as we could. Which would drive up prices.
@@GrantWarrington We're all waiting for the next crash. But unfortunately things are very different this time around because of the issues regarding the weather, insurance and condo safety issues.
People around the country are not looking at Florida the same way they used to. And this will have a significant impact on population growth going forward.
And because of this, we will never again see the type of run up in prices that we saw from 2008 to 2022.
I disagree. Florida is extremely desirable real estate in paradise. 950K people moved here in 2023. A Major dips in housing prices will cause massive purchases. I’m also not waiting for the next crash. If I would’ve done that… I wouldn’t have been able to retire early thanks to real estate investments.
@@GrantWarrington I was able to retire early a few years ago as well. In part, due to a couple of real estate sales in Florida and Tennessee. And here are a few points about your statement:
1) '950k people moved here in 2023'......................that number does not include the people that moved OUT of the state. In other words, that number of 950k is not the actual 'net migration' number.
It if IS the net migration number, please send me a link where I can see this for myself. Because from all the data that I see, the migration trends into Florida are actually going down. Not up. And unless the issues with the storms, the insurance crisis and the condo safety issues are resolved, that trend will not be going back up anytime soon.
2) The concept of Florida being some sort of 'paradise' is highly dependent on several factors. As it all depends on where you live in Florida and what times of the year you live there. This is coming from someone who lived in (arguably) the most desirable parts of Florida for over 30 years (South Florida).
I always lived relatively close to the water and always had a decent job. And you know as well as I do, that living in Florida full time is NOT the same as visiting a few weeks out of the year during the winter months. Not even close. The job market is horrible (which creates all sorts of issues with crime). And the summer heat/humidity is nothing short of oppressive.
This is BEFORE we even consider hurricanes, insurance and the condo safety issues.
CONCLUSION:
Yes, some money can be made if you time your entries and exits properly. But the level of profits that were made between 2008 and 2022 will never be seen again.
Waterfront properties made worthless by Helene and Milton.. Way to go Mother nature 😅😂
Thanks for watching Odessa😃👍🏼 You’re right. It’s a pretty sad situation for a lot of people. I’m hopeful they will be able to sell the land and move on. Still tough to go through for anyone. A lot of people lost everything 😔 I appreciate you watching and commenting 😃🙌🏼
@GrantWarrington you're welcome 🤗
😊🙏🏼😃🙌🏼
Just looking at the situation where those houses are built would give me pause. They are obviously too close to the water and obviously not high enough. I grew up in the country, and as pretty as it might be, you don't build right next to a creek, river, or lake. Any water anywhere has the potential to destroy property. It's always best to keep a healthy distance.
Agree 👍🏼. All these homes need to get built back and at current codes. Thanks for the feedback 🙏🏼
Thanks for the update Gents.
Thanks for watching Kwame😊🙏🏼 Much appreciated my friend 😃🙌🏼
I lived in the keys for years. I wouldn’t build a house unless I made it out of cement.
Me too 👍🏼
Great video and best explanation of FEMA rules.
Thanks for watching and for the feedback. I learned a ton from Mike. Glad you liked it 👍🏼
Great info! The FEMA rules were always very confusing to me.
Same to me!! That’s why I reached out to Mike. He explains it very well. It was fun learning and shooting this in such a beautiful setting. (Not the inside of the house of course😂).
When we moved to Florida more than 20 years ago our realtor told us to avoid Shore Acres because of the flooding problem. This is an issue when the area receives anything above the average rainfall. It is not new to post Helena/Milton. The homeowners who purchased in Shore Acres did not read the property disclosures, the previous owners lied on the disclosures, or they had bad realtors who did not warn them to avoid shore acres.
I do feel bad for the people in areas that live outside a flood zone that were flooded, some by a 1,000 year flood, but Shore Acres floods on almost a yearly basis. There is no real story here except that people buy there were ignorant (not in a mean sense), didn't care, or FEMA should have blacklisted the area years ago due to the number of claims.
FL just passed a law that you have to disclose if your home was ever flooded this year. I feel sorry for anyone that loses all their possessions in a disaster.
@@GrantWarrington It has been on the books in Pinellas county that owners had to disclose flood damage for 25+ years. I feel bad for anyone new who bought in Shore Acres in the past year or so, but every year there is news footage of residents canoeing to get to their property when there is a thunderstorm much less a hurricane or tropical storm, especially if one stalls. They needed to raise the flood rating on Shore Acres years ago.
I had property the county wanted in another state so asked FEMA to move the the zoning from a flood zone to plain to legally condemn the property, but they did have to pay fair market value. Now the county built concession buildings, docks, and other buildings.
The gov't and insurance companies are partly responsible for Shore Acres, they should have changed the zoning years ago or upgraded the storm water removal system. This isn't a neighborhood that floods with every 100 or even 10 year storm, it floods with practically every storm.
Can a buyer just tear the house down and just park an RV? Is it allowed in this community? That way you don’t worry about insurance and just drive in land or out of state when there’s hurricane 🤷♂️
Just fantasizing what to do with that beautiful piece of land by the water. Me arriving with my RV pulling my boat. The first thing I’m gonna do, before any water activity is to get my pickleball net out and play pickleball with my wife over that slab 😂 Then maybe we can go boating after 🤣
That sounds like a good idea! I’m gonna beat you to it. I’m actually reading your comment in my RV. You got me fantasizing 😊
Well hurry up and bring one more with you so we can play pickleball doubles 😂
Lol. Why are people crazy about that game. It seems like everybody and their dogs are playing pickleball now
😂👍🏼👍🏼👍🏼
Really great info! The FEMA rules were always very confusing to me.
They were to me too Cindell 👍🏼 I appreciate you watching and the feedback 😊🙏🏼🇺🇸
I have never understood peoples obsession with being so close to water if it is salt water everything rusts the winds are always stronger off of open water.
Obviously there is regular flooding etc especially from rivers.
In the old days being close to the sea or a river was because freight was most likely shipped in and land transport was slow and expensive, unreliable etc.
But now days living near water is pointless as it just leads to massive insurance costs if you can get insurance at all?
Thanks for the feedback Brent. 👍🏼
I live nearby. Only the rich will be able to afford waterfront property now. I live in a senior mobile park and we miraculously escaped any damage from Helene and Milton even tho we were in an evacuation zone. It was the surge that did the damage, not the rain and winds - which were negligible. I met a man 10 years ago in his 80s, now his 90s who said before taxpayer funded flood insurance only the poor lived on waterfront in his youth. The rich lived on high ground. In just half a century we did a flip.
So glad to hear you weren't affected by either storm Carol 🙏🏼 Thanks for the feedback! 😃🙌🏼
They can keep the house, the land, the ocean, the heat, the humidity, the high cost of everything, etc..
I'm already moved abroad and saved a fortune
That’s awesome man 👍🏼 Good for you.
A ground level house is just asking for it. You can build a highly hurricane resistant house on concrete pilings. Really the entire structure should be poured concrete, hurricane windows, metal shudders and a metal roof.
Great point Jonathan 😃👍🏼 Thanks for watching and for the feedback 🙏🏼
I love ❤️ how our tyranical gov works & insurance co , they appraise your house for taxes on the land also value . But when it benifits you they don't include the land value . Fkn sickening
Yep. 👍🏼
I used to aspire to live on beach front property until I realized that water outside of our bodies can be deadly!
😂 That’s a good analogy 😃👍🏼
My dad decades ago had a chance to buy some beautiful riverside property, but walked away. Said the river always wants to come visit you. Years later, he was proved right. The river flooded that property and a lot of people lost their pricey vacation homes….
There are also a lot of people that made a ton of money off that property your Dad never bought. It’s easy to do nothing and then 40 years later say “see…I was right”. He missed out on
These homes should not have been allowed to be built. STOP building on barrier islands and next to the water. No government or insurance should pay for damage.
These were built way before current codes. They cannot be built back the same way. 👍🏼
We looked at a house in Holiday with a cracked sea wall. That is a definite No!
Glad you didn’t pull the trigger. 👍🏼
Nice work Grant!
Thanks man😊🙏🏼 I really enjoyed this one 😃👍🏼
Requiring permit for things like dry wall and paint etc is government overreach .
@@menoyuno8430 It’s pretty bad. That’s FEMA. 😏
Your thumbnail looks like you just stopped by where Chris Hanson is. 🤣
Willie!!!! 🤣😂🤣 Is that the "Catch a Pervert" guy??? 🤦🏻♂ Thanks for watching bro! Thant was funny!! 😂
I’m interested in buying. Who do I contact?
Hey Greg. I put Mikes info in the description under the video. You can give him a call 😃👍🏼
It's a piece of dirt. How much could it be worth? $10k, $11k?
😂 Location man. Some dirt is worthless. This dirt is very expensive 😃👍🏼🇺🇸
In reality nature is ridding the community of older homes that can't withstand today's storms!
Unfortunately you are 💯 right. This area hasn’t been hit with a direct hit in over 100 years. Thats why all these old out of date homes are still in this area. It’s sad but true. 🙏🏼
With the invent of cloud, coastal properties all at a major risk. Most are not even covered by insurance companies anymore, especially in California. It’s the perfect storm!
Thanks for the feedback.
Knowing Florida's track record for hurricanes.... THOSE PROPERTIES SHOULD NEVER HAVE BEEN BUILT THERE IN THE FIRST PLACE ...👿😈😠😡 Greedy home builders wanted to build anyway as long as the homes were sold BEFORE a hurricane. 😠😡 Waterfront properties are not a good idea in the state of Florida and everyone knows why. 🙄🙄
Ok 👍🏼
I dont get how they say depreciated vale of a home but hime prices do nothing but go up and then they talk about land value. Real estate companies set the price of a home based on what people are willing to pay not yhat its actually worth that. U could vuild a 70k house n 6 months later its 120k theres only depreciation when theres some disaster
👍🏼
A permit to paint. Crazy.
Agreed!👍🏼
Can I purchase that house and do all of the renovation with my own hands and no hired labor without having to tear it down?
You’d need to pull permits and hire licensed contractors where needed. Theoretically yes. You could. But you’d pay for it all out of your own pocket.
@@GrantWarrington I'm considering moving to Florida and am a contractor. That would save me a lot of money if I could keep the original foundation and framing according to county codes. I might consider purchasing a beach front property because of this.
The people selling this lot for 800K aren't going to get anywhere near that and the realtor should be honest enough to tell them that. Who pays for the tear down and removal of the house and how much does that cost? 600K, the difference between 1.4m and the amount for the land, gives the buyer enough money for a 1500sqft house, but doesn't include the teardown or any other issues that may have to be addressed. That land isn't worth any more than 500K and I wouldn't even pay that. These people need to get real with their pricing before anyone is going to take them seriously. The realtor needs to be frank with these sellers instead of encouraging this nonsense.
The lots are selling man. 👍🏼 Thanks for your thoughts.
" Permit" government word for tax. Really a permit to paint????
Crazy right. 👍🏼
"Fair market value" before...
Well, that was before, and these new valuations are the reality of the market today.
Exactly. 👍🏼 So if you wanted to buy this property before. You’d have to spend $1.4m, tear down the house and build new. Now you can buy the lot for $875K, spend $20K to tear down the house and build new. It’s a great deal for a new buyer 👍🏼
@@GrantWarrington Great time except the house would be, for all intents and purposes, uninsurable, and remain in a high-risk flood zone.
I guess one could construct a more "resilient" dwelling, but that would be pricey, with a likely non-linear relation between risk mitigation and cost of construction.
How high should it be elevated? Are there any zoning restrictions that cap elevation?
Mechanicals, i.e. HVAC, elevated as well? Shielded from wind? Equipped with deployable wind shroud/shields? Same for solar panels. Cistern for potable water supply to bridge water supply disruption? Septic?
What assumptions re public infrastructure resilience are factored into price you cite?
That polluted water decreases the value of the property more than the hurricane did. Anyone with enough money to buy a waterfront home like this is going to look around until they find clear water where you can see the bottom. Nobody wants to swim in or eat fish taken from water that is so polluted.
How is it polluted? It’s ocean water.
Building codes need to be changed in Florida. All Florida homes must be raised 4 feet above the ground using pillars.
They did change in 2002. It’s 14 feet above sea level in this area 😃👍🏼
They are called "barrier islands" for a reason. It's like insuring the trenches that provide defense for a fort or town. You know that they are going to go early in an attack. They are disposable.
Very intriguing analogy. 👍🏼
If u really truly love florida 4 life...buy a small multi family ..self insure and do not tell any1 u self insure.
U need the extra residence so u can have a place 4 ur future caregivers 2 live onsite.
Bigger is not really better in florida. Small is exceedingly more manageable 4 elders. Stay off the roads as much as possible. Have items delivered. ❤🌎❤ winter is cancelled❤
Thanks for the feedback 😃👍🏼