« First « Previous Comments 47 - 86 of 95 Next » Last » Search these comments
It was listed and sold for $540k. I don’t know if $540k is the foreclosed price. You said he bought it as a foreclosure, which means there’s a high probability he got it at a much lower price. I’m not familiar for FL foreclosure laws to know.
As you could see the sold comps, houses don’t have waterway sold for at least a couple hundred thousands less….
I’ve seen folks who bought this type of property. They can “claim” they live there for more than 6 months out of the year for tax purposes, especially if he’s from the Northeast, while he’s going through design and planning to get approved plans for a new construction. In my neck of the woods, this process takes a couple years. If he’s in a high income tax bracket, claim residency in FL can save him big bucks in a couple years.
Fortunately where we live, the road along the beach is about 10 feet above sea level and my family and I live 2 miles from the beach and are about 17 feet above sea level.
Eman says
It was listed and sold for $540k. I don’t know if $540k is the foreclosed price. You said he bought it as a foreclosure, which means there’s a high probability he got it at a much lower price. I’m not familiar for FL foreclosure laws to know.
As you could see the sold comps, houses don’t have waterway sold for at least a couple hundred thousands less….
I’ve seen folks who bought this type of property. They can “claim” they live there for more than 6 months out of the year for tax purposes, especially if he’s from the Northeast, while he’s going through design and planning to get approved plans for a new construction. In my neck of the woods, this process takes a couple years. If he’s in a high income tax bracket, claim residency in FL can save him big bucks in a couple years.
I can't confirm this is his actual address. I haven't heard from him to con...
How close to the coast for it to flood? 2 miles inland and 17 feet up sounds inadequate to me.
Opal’s legacy will always be the devastating storm surge that occurred across the coastal areas of the western Florida Panhandle. Storm surge of 10-15 feet was recorded from Navarre Beach east to Destin with 6-8 feet observed in the inland bays from Pensacola to Choctawhatchee Bay. Opal destroyed most of the homes that were facing the Gulf of Mexico from Navarre Beach to east of Destin.
One of my repulsively wealthy uncles
Our home is about 17 feet above sea level. We evacuated for Hurricane Michael. We are near US 98.
https://www.yahoo.com/news/property-insurance-company-cancels-florida-013031704.html
Property insurance company cancels Florida couple’s policy night before Hurricane Ian hit
That’s true — they can’t.
As Hurricane Ian hit, Florida Insurance Commissioner David Altmaier issued an order to temporarily protect residents. It reads, in part, “from September 28 – November 28, no insurer or other regulated entity may cancel, non-renew or issue a notice of cancellation or nonrenewal of a policy or contract except at the written request of the policyholder.”
They can, however, cancel you after the two months are up. It’s why Colantuono’s agent signed him up with another carrier.
“I just found a policy with Citizens,” Colantuono said.
ep, property insurance to go up 20 to 30% in Florida for 2023 according to the CEO of Citizen Insurance.
What they don't pay in income tax, they pay in premiums.
housing costs that put home ownership completely out of reach for most and certainly for the working class, ridiculous sprawl and a hatred of density which only increases heavy traffic, etc. etc.
Average annual premiums have risen to more than $4,200 in Florida
« First « Previous Comments 47 - 86 of 95 Next » Last » Search these comments
Not readily apparent is an aspect of the law in Florida concerning flood insurance. If your house or apartment has a roof over 10 years of age, you cannot get flood insurance. I spent hours watching many people in the area of destruction being interviewed. Most had lost everything, and their normal homeowner's insurance will not pay for the losses. They could not get flood insurance. Many are old and have lost all. Imagine yourself in a situation like that.