General Discussion

John1956PA

(5,065 posts)

36. I corresponded with a nice lady who bought (for a very reasonable price) a home in Palm Coast during the "trough."

Sat Apr 18, 2026, 06:12 PM

Apr 18

In the early part of 2010, her biggest worry was that there were so many vacant homes and squatters in Palm Coast that she did not feel safe. Fortunately, the real estate market and the economy in general improved by the end of 2010. Her investment more than doubled in value.

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Florida Condo owners stuck with homes no one will buy as they wake up to grim repercussions of new laws [View all] BlueWaveNeverEnd Apr 18 OP

If minimally adequate safety regulations are ruinous to a property/business situation RockRaven Apr 18 #1

I agree w/ you! SWBTATTReg Apr 18 #6

The problem is Old Crank Apr 19 #76

As it should be MichMan Apr 19 #79

I know Old Crank Apr 19 #81

This message was self-deleted by its author PeaceWave Apr 18 #2

The linked article lists fees of $3,000 a month, $2,000 a month, etc. IronLionZion Apr 18 #8

Yes it must be wrong. That is a very cheap HOA fee. Irish_Dem Apr 18 #9

You are correct. The article mentions HOA fees are going up drastically because of the need to fund structural repairs. John1956PA Apr 18 #28

Wow can you imagine taking such a big loss? Irish_Dem Apr 18 #30

I corresponded with a nice lady who bought (for a very reasonable price) a home in Palm Coast during the "trough." John1956PA Apr 18 #36

It was a big gamble though, right? Irish_Dem Apr 18 #40

That lady was a risk taker. I could tell you more about her adventures. John1956PA Apr 18 #45

If she lived in Florida I am sure she had a lot of adventures. Irish_Dem Apr 18 #51

The great recession saw a lot of that nation-wide IronLionZion Apr 18 #38

Vultures always love a nice tragedy. Irish_Dem Apr 18 #41

Squatting enid602 Apr 18 #53

It will be lovely until you get thrown out on your ass. Irish_Dem Apr 18 #56

Guthrie enid602 Apr 18 #60

Yes I see that online. Irish_Dem Apr 18 #61

HOAs are an extortion racket... GiqueCee Apr 18 #24

Right! It's much better to stuff the pockets of a landlord marybourg Apr 18 #27

Thank you! BlueWaveNeverEnd Apr 18 #33

I can only relate a coworker's experience... GiqueCee Apr 18 #42

Board members, just like congress members, stand for election marybourg Apr 18 #54

So you have no idea what you are talking about Hassin Bin Sober Apr 18 #57

You just repeated what I said. GiqueCee Apr 19 #68

Pretty much every planned development has an HOA. Old Crank Apr 19 #78

Hoa board members are NOT paid. Fees go to shared expenses like water bill and insurance premium BlueWaveNeverEnd Apr 18 #32

Not to mention pool upkeep, the building roof/sidings/painting etc EX500rider Apr 18 #46

yes. power bill for outdoor lighting, repaving of roads, an endless list BlueWaveNeverEnd Apr 18 #58

I'm in one jmowreader Apr 18 #48

Nonsense Old Crank Apr 19 #77

In little ole Montana they are as much as $300 to $600 a month and more for luxury condos. ratchiweenie Apr 19 #73

No surprise. Aristus Apr 18 #3

Central Florida was a paradise PCB66 Apr 18 #7

Anyone who has ever tubed down the Ichetucknee or bird watched at Myakka or waded the green waters of Longboat Key lostnfound Apr 18 #23

You left out "Walkin' Lawton". Lawton Chiles. Lochloosa Apr 18 #55

Thank you! You are right. Nt lostnfound Apr 18 #64

Flat. Hot. Bugs. Invasive creepy crawlies everywhere. Brimming with "Florida men" and "Florida women" paleotn Apr 18 #14

Yes, a "hellhole", please do not move here, it's terrible! EX500rider Apr 18 #47

What kind of fish are in the first picture? jmowreader Apr 18 #49

The mammalian kind not fooled Apr 18 #52

West Indian Manatee EX500rider Apr 18 #65

Sunshine? Ugh! The worst! Aristus Apr 18 #59

Sad... EX500rider Apr 18 #66

Not for me. Aristus Apr 19 #70

This is exactly what makes me nervous JBTaurus83 Apr 18 #4

The laws in Florida that allowed this are pretty unusual. In most states there are pretty strict Scrivener7 Apr 18 #39

What really gets me here is that no one is sharing any of the responsibilities for this whole mess to begin w/, SWBTATTReg Apr 18 #5

Hi-rise condos are a fundamentally flawed concept Random Boomer Apr 18 #63

Wise words on your part. I am wondering if two friends of mine, originally located here in STLMO, who had SWBTATTReg Apr 19 #72

Is the problem that they just put off or avoided repairs JI7 Apr 18 #10

Absolutely. Same thinking in 'Murica since raygun not fooled Apr 18 #50

Does this mean they can't afford to buy a second home in WNC? Hope, hope. Wonder Why Apr 18 #11

Or in SC. raccoon Apr 18 #18

You mean North Florida? No big. Wonder Why Apr 18 #20

The rush to build pfitz59 Apr 18 #12

As a third generation Floridian who moved out Hey Joe Apr 18 #13

You were lucky to have experienced it as a child. slightlv Apr 18 #16

I was a kid there in the late 50s and the 60s The Blue Flower Apr 18 #22

It's going to make for a very interesting REO/foreclosure market at some point. flvegan Apr 18 #15

Not all Fla condo's have this problem. I live in a well run association in west central Fla. When one goes up for sale mitch96 Apr 18 #17

Agreed..this situation applies to a certain type of condo in a certain area BlueWaveNeverEnd Apr 18 #37

My mother's building in SFLA has been extremely diligent forever about funding their reserves. But, there are buildings Raftergirl Apr 19 #75

400k assessment..wow! BlueWaveNeverEnd Apr 19 #85

A couple from our NY synagogue lost their 2 sons at Surfside Danmel Apr 18 #19

That is terrible Alice Kramden Apr 18 #26

How very sad.. unimagineable.. mountain grammy Apr 18 #29

Omg..how sad BlueWaveNeverEnd Apr 18 #34

It'll all be underwater soon anyways JoseBalow Apr 18 #21

Well, it was... GiqueCee Apr 18 #25

Sadly yes, probably much sooner than most think mountain grammy Apr 18 #31

Straight out of a John D. MacDonald novel. nt Susan Calvin Apr 18 #35

In the next decade the cost of living in FL is going to drive out middle class residents. flashman13 Apr 18 #43

Disney has lots of parks worldwide Amethyst Ring Apr 19 #67

The difficulty financing is nothing new madville Apr 18 #44

How The Reagan Revolution Collapsed America & the Florida Condo Norrrm Apr 18 #62

I imagine insurance is playing an outsized role as well Ruby the Liberal Apr 19 #69

This was entirely predictable after Surfside genxlib Apr 19 #71

Another problem is popsdenver Apr 19 #74

Corporate owners should NEVER be allowed buzzycrumbhunger Apr 19 #80

Haven't almost all apartment complexes been owned by corporations for many years? MichMan Apr 19 #82

It's not just condos anymore buzzycrumbhunger Apr 19 #83

Too late popsdenver Apr 19 #86

Painful but necessary regulations WarGamer Apr 19 #84

Boy, Ron De Santis is going to really like this! MrsCheaplaugh Apr 19 #87