patrick.net

Dan says

In Boca Raton, FL renting a middle-class house costs $1600/month or $20k/yr.

*snip*

In non-bubble times, it makes sense to buy instead of renting. Unfortunately, in Florida we’re still in a bubble. The buy threshold I’m looking for is $100 sq/ft for a brand new house.

*snip*

$300k is a lot of money for a single family, detached house. It’s ridiculous for a townhouse (formally called row-home) that’s directly under the flight pattern of an executive airport.

Couple questions.

What's typical middle class house you can rent at $1600/mo there in your town? Is it like 10yr old 2000sqft 3/2 SFH?

Bubble in FL is kind of hard to understand as a northern virginian I am, since the situation up here was never been like that. I heard FL housing price got bursted and went down 50% or so, and became reasonable. Isn't that not true in your area? What's the current $/sqft ratie down there?

Dan says

Btw, in Boca right off of Yamato and I95 some developer is trying to sell townhouses for $300k. That same developer was trying to do this about 3 years ago and gave up when it was clear the bubble busted. Evidently the company didn’t learn the lesson. The developer basically just renamed the community to “Centra” (sounds like a vitamin pill) and made some minor floor plan changes. $300k is a lot of money for a single family, detached house. It’s ridiculous for a townhouse (formally called row-home) that’s directly under the flight pattern of an executive airport.

Del Boca Vista Phase II?
I can hear the heavily made up, prada wearing, kate spade toting agent now "don't you understand that its BOCA - its desirable"

seaside says

Dan says

In Boca Raton, FL renting a middle-class house costs $1600/month or $20k/yr.
*snip*
In non-bubble times, it makes sense to buy instead of renting. Unfortunately, in Florida we’re still in a bubble. The buy threshold I’m looking for is $100 sq/ft for a brand new house.
*snip*
$300k is a lot of money for a single family, detached house. It’s ridiculous for a townhouse (formally called row-home) that’s directly under the flight pattern of an executive airport.

Couple questions.
What’s typical middle class house you can rent at $1600/mo there in your town? Is it like 10yr old 2000sqft 3/2 SFH?
Bubble in FL is kind of hard to understand as a northern virginian I am, since the situation up here was never been like that. I heard FL housing price got bursted and went down 50% or so, and became reasonable. Isn’t that not true in your area? What’s the current $/sqft ratie down there?

The two houses I rented were $1600/month.

House 1
----------
http://tinyurl.com/2ca38an
2 bedroom, 2 bath
1614 sq. ft.
looks like it was built in the 1970s
poor a/c, breaks often, needs replacing
sold recently (April) for $184,000
decent, small neighborhood
annoying, intrusive HOA

The owner was asking for over $300k back in 2007, got no offers, and decided to rent.

House 2
----------
3 bedroom, 3 bath
2032 sq.ft.
also bad condition (bathrooms horrible, ceiling fans broken)
last sold in 1992 for $115,800
less quiet, large neighborhood
non-intrusive HOA

shultzie says

Dan says

Btw, in Boca right off of Yamato and I95 some developer is trying to sell townhouses for $300k. That same developer was trying to do this about 3 years ago and gave up when it was clear the bubble busted. Evidently the company didn’t learn the lesson. The developer basically just renamed the community to “Centra” (sounds like a vitamin pill) and made some minor floor plan changes. $300k is a lot of money for a single family, detached house. It’s ridiculous for a townhouse (formally called row-home) that’s directly under the flight pattern of an executive airport.

Del Boca Vista Phase II?

I can hear the heavily made up, prada wearing, kate spade toting agent now “don’t you understand that its BOCA - its desirable“

Is that a Seinfeld reference? http://tinyurl.com/b79gvw

If not, the community is actually called "Centra" and it's on Yamato where the old IBM site's recreation area was. After IBM left, it sold the land and buildings. Mostly a strip mall with a few restaurants, a business complex with various small to mid size companies, and the townhouses that aren't built yet.

With the exception of the airport and train tracks, it would be a good area for housing if the builder hadn't screwed it up with ugly townhomes.

I just want my own bigger personal space... where I have more freedom to do what I want with that space... free from all the distractions/limitations of having wall-to-wall, floor-to-ceiling neighbors around me. I've grown to hate apartments now.

I bought a home with an in-law apartment in July 2007 (hence the screen name "knewbetter") to please my wife and provide a retirement for my parents. My wife and parents love it. I would prefer a 500 sqft 1 room cabin with a composting toilet and a closeline, but its a good house and a good town. I've never considered my primary residence as anything but an expense. I was also heartened by the refinance appraisal that showed we didn't mess up too bad. The house had been on the market for 18 months and 3 buyers had fallen through, so we low-balled and they said uncle.

But of course now I see deals and dream of REALLY screwing people over!

Long story short: I started an orchard. 10 cider apple, 5 peach, plumb and a few apricot. Our garden is about 500sqft. I cut my own firewood from about 6 acres. We've got a pool so now we don't travel in the Summer-everyone comes to us. I can bow hunt in my front yard. My parents now have financial stability and someone who cares enough to take care of their housing. My daughter (I hate the kid excuse) has a home/community and not an apartment. Not to say you can't have both but even if you meet a decent landlord rarely does he own the whole street.

These are all great things, but both sides have a risk. Lots of my forever renter friends have/had more time for 20 something bliss, more chances to take jobs in other states to make great money. Of course most of them invested in the stock market and not in fruit trees. It would be cheaper for me to buy my fruit from the store, but its not the same.