June 01, 2006

Today kicks off the start of hurricane season. How's that Florida real estate?

Posted by blogger at 6/01/2006

18 comments:

Anonymous said...

Or when that 150 mph wind rips your roof off and your house fills with water,drowning you!
Remember seeing those videos
on the 6 o'clock news. Momma N can kick butt!

June 01, 2006 7:13 PM
Bill said...

Ill sum it up with a typical phrase

"Nice place to visit but I sure in hell would not want to live there"

June 01, 2006 7:14 PM
Rob Dawg said...

The real chill wind blowing in Florida is insurance. The sheeple are complaining about the massive increases in rates. What they don't know is that those prices reflect the approved increases for the 2004-2005 season. It won't be until next year that we see the impact of 2005-2006. There's a showdown comming. The insurance companies need to drastically raise rates for three reasons and it is unlikely that the state will allow increases sufficient to keep the private companies in the game.

http://abcnews.go.com/GMA/Technology/story?id=2027621&page=1

Tom Gallagher, Florida's chief financial officer says, "When you have no insurance available, you can't get a mortgage. You have no real estate market."

June 01, 2006 7:21 PM
Anonymous said...

So Fla used to be a nice place to live. But cocaine, Hatians, yankees, Cubans, yankees, and everybody else moved there and it got crowded. Roads, boat trailer parking at public ramps, beach parking... all got way too crowded. I moved there in 79 after bailing from So Cal and it was a good ride for about 10 years. But then I was fed up and left. I bet it is a real mess now. Besides, the price of intercoastal waterway waterfront was going up faster than my pay.

And the fish were all caught by the long line commercial boats (mostly foriegn) so it wasn't even as much fun. Now So Fla is just a fun place to visit.

June 01, 2006 8:00 PM
Anonymous said...

Got this link from Drudge (Sun-Sentinel.com article):

http://www.sun-sentinel.com/news/local/broward/sfl-ctaxroll01jun01,0,94653.story?coll=sfla-news-broward

Sorry about the legnth of the link.

Despite Hurricane Wilma and a year-end cool-down in the real estate market, Broward County's tax roll grew faster than ever last year and now totals more than $157 billion.

Preliminary data released today by the Property Appraiser's Office show the taxable value of homes and businesses increasing almost 20 percent.

The tax roll has grown by double digits since 2001, but Property Appraiser Lori Parrish and real estate experts predict the runaway growth has ended and that next year will mark a return to a more moderate pace.

Rising real estate prices accounted for $22.5 billion of the $25.5 billion increase, with new construction making up the rest. The largest jump came in Hallandale Beach, where the tax roll grew 32 percent because of higher condo prices and new high-rises along the coast.

The larger tax roll is prompting renewed calls for local governments to return at least part of the windfall to property owners through lower taxes. County and city governments in Broward raked in an additional $890 million in taxes over the previous four years because of the rising real estate values.

"This was the hottest year in history, at least until the hurricanes came, and the cities can't expect this any more," Parrish said. "There is no reason in the world that every government in Broward County cannot use this to cut taxes and give the citizens a break."

County Mayor Ben Graber and the leaders of some of the high-growth cities said tax cuts are likely.

Hallandale Beach Mayor Joy Cooper said the growth there was largely the result of years of redevelopment efforts. Cooper said the city's goal had been to use the higher value to reduce a tax rate that traditionally has been among the area's highest.

Fort Lauderdale Mayor Jim Naugle said a tax rollback would be the best way the city could help ensure housing is affordable to middle-income workers.

"Taxes are where government can really affect the cost of homeownership," Naugle said. "The mortgage gets paid off some day, but taxes are forever. Governments should concentrate on lowering taxes rather than using these windfalls to constantly build a larger bureaucracy."

The tax roll will be made final by July 1 once Parrish's office makes remaining adjustments based on construction data, sales information and requests for homestead exemptions and other breaks. Parrish then will send notices to property owners of their new values in August.

Parrish and her staff said they are convinced the tax roll accurately reflects property values at the start of this year even in light of the changing market and the numerous homes damaged during Wilma.

They said real estate prices did not stagnate even though there were fewer sales at the end of 2005, and they said the amount of hurricane damage was minimal compared to the overall size of the tax roll. Parrish also assigned more appraisers to physically inspect property, whereas the office relied more heavily in the past on sales data.

Real estate experts said they were not surprised by the jump in the tax roll.

The housing market began softening in October, they said. That's when the heavy hurricane season scared off speculators and high prices and higher interest rates began making buyers more cautious.

"The market is now going through a transition to more of a balance than it had been," said Richard Barkett, CEO of the Realtor Association of Greater Fort Lauderdale. "We've never seen in our history such a rapid and steady growth in appreciation that we've seen in recent years."

Barkett and real estate analyst David Dabby of the Coral Gables-based Dabby Group predicted 2007's tax roll will show more traditional single-digit growth. Between 1993 and 2001, the tax roll grew between 3 and 8 percent a year.

With the exception of Hallandale Beach, the heaviest growth from new construction continued to occur in the western suburbs. Miramar and Parkland's tax roll each increased more than 6 percent because of construction alone.

Hallandale Beach was among seven cities that posted growth of more than 20 percent just because of higher real estate values. The others were Lauderdale-by-the-Sea, Lauderhill, Lauderdale Lakes, Oakland Park, West Park and Wilton Manors.

June 01, 2006 8:57 PM
Anonymous said...

The state puts a ban on the sale of firearms and alcohol when the hurricane calls for an evacuation. Good times ahead.

June 01, 2006 9:51 PM
Anonymous said...

And it is as thick as a coke bottle, but it isn't the wind that kills people. Its the 2x4, loose bolt or concrete park bench whipping around at 150 MPH that crashes through the glass that kills you.

Actually most deaths from Hurricanes are attributed to drowning as a result of storm surge.

June 02, 2006 1:01 AM
Anonymous said...

borkafatty said...
Ill sum it up with a typical phrase

"Nice place to visit but I sure in hell would not want to live there"

I second that. I lived on the gulf coast for two years. Florida is nice in the winter (about 3-4 months), the rest of the time it pretty much sucks.

June 02, 2006 1:03 AM
Anonymous said...

I lived there from 93-97 and as a boater, I loved that aspect of it. But the crime rate is out of control! My wife and I ended up carrying his and hers .357's to ward off the criminals....

Where I worked they had armed guards escort workers to their cars and we were in Ft Lauderdale in the business district, not some Miami h*llhole!

June 02, 2006 3:43 AM
Anonymous said...

i read recently that there is a higher chance of the northeast getting hit by a hurricane this year than some parts of florida.
-Stardust

June 02, 2006 12:34 PM
Anonymous said...

Things are fine here, thanks. Hurricane shutter (the strong kind) are being installed on my 18' high wall of windows. Zero chance of flooding on the hillside due to my ingenius method of diverting water. Flying park benchs and other objects? Zero chance of that, I live far away from the mutant humanoid population. Anyone buying a house where your neighbor can reach out of their window and stroke ya is a total loser.

June 02, 2006 1:32 PM
Anonymous said...

From AccuWeather:
"There are few areas of the U.S. East Coast and Gulf of Mexico that will not be in the bull's eye at some point this season," said Ken Reeves, AccuWeather's Director of Forecast Operations. Ironically, though, the region that was hammered the hardest last year-the central and eastern Gulf Coast-has one of the lower probabilities of receiving another major hurricane strike in 2006."
Here is the link...

http://wwwa.accuweather.com/promo-ad.asp?partner=accuweather&dir=aw&page=hurr2006

-Stardust

June 02, 2006 1:34 PM
Anonymous said...

http://wwwa.accuweather.com/
promo-ad.asp?partner=accuweather&dir
=aw&page=hurr2006

-Stardust

June 02, 2006 1:35 PM
Anonymous said...

You know, anywhere you live you will get people who love it and people who hate it. I love Florida. I've lived in California, Massachusetts, Texas...the crime isn't any worse here then any other city I've lived in, the winters are awesome, and of course summers are too hot - but they're too hot in Massachusetts too, and then you freeze your ass off and get buried under blizzards and pay people to chip the ice dams off your roof and shovel your sidewalk and driveway nine or ten months a year. As for hurricanes - no-one I know would leave here because of that. We're all just getting much better about trimming our trees and putting up hurricane shutters.
-Florida Girl

June 02, 2006 2:19 PM
Anonymous said...

Love Florida, except that there are way too many people moving here. I am a Third Generation Floridaian, which are VERY Rare. I do not even mind the tourists anymore, they leave and Disney keeps them pretty segregated.
Love the way you guys/girls on this blog think!
Wish everyone that moved here thought like you all. We Southerners could have our state back.
Maybe the Hurricanes will scare the transplants away. hee hee

June 02, 2006 3:03 PM
Anonymous said...

I beg to differ regarding No seasons comment above: We in Florida have Peak Tourist Season and Hurrican Season.

June 02, 2006 8:08 PM
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