Relocation to Warmer Climate

Forums: Moving, Relocation, Florida Real Estate, Sarasota
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OK, I finally chose where I'm going to move. After 8 weeks of living in No. VA nr DC, I ruled this area out to settle in my semi-retirement. I had lived in Albany NY area for the last 7 years (orig. from Boston) .

The areas around No. VA-Wash., DC are too expensive for this fixed income person, though most everything else about it (not the traffic) is delightful. And, with seeing the worst weather winter here since Geo. Washington crossed the Delaware, I'm now set to move in on 3/24.

I choose Sarasota FL. as I've 2 retired sisters there within 20 minutes and a brother on the eastern coast of FL. I found a really nice apartment complex in Sarasota with some decent amenities (1 heated + 1 unheated pool and a small lake).

This week I spent 5 or 6 days exploring the area. Seems like a good choice while I save up money for an eventual condo purchase while that RE market sorts out a bit. Sarasota-Bradenton-Venice are showing a bit of a rebound (more existing home sales) in the last 6 to 9 months, or so. New home construction is still off about 10 percent, but some feel that is a natural adjustment (regardless of the Great Recession) as the area is/was overbuilt. My evential search is for a 'slightly-seasoned' condo under $65k in about 12 months.

Any thoughts? Anyone have recent (last 10 yrs) experiences with the area?

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Type: Discussion • Score: 6 • Views: 5,723 • Replies: 58

[+4] - realjohnboy - 02/28/2010Panzade tossed out a warning regarding HOA fees and how you perhaps should be wary about buying into a condo community where there are a lot of distressed properties. Andy, who works for me, and...

I've never set foot in Florida, but the place you describe sounds hopeful.

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@Ragman,

Sarasota is one of my fave spots in Fla. I go there every spring to enjoy all the sights especially St Armand's circle.
Getting a seasoned condo for 65k though sounds a bit far fetched. But I might be out of touch with RE prices.

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@edgarblythe,

Hi Edgar! A happy and peaceful Sunday to you.

Sedona AZ was my first choice, but I think I'd like to visit there but be located close to my family in our maturing years. I'm the youngest at age 59, and the oldest is 75.

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Arizona's great, but the winters can be cold.

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@Ragman,

Hmm ... Sarasota, Florida?
http://www.aaanimalcontrol.com/professional-trapper/howtogetridofothers.htm

You're going to get crocodiles...

http://neveryetmelted.com/wp-images/alligator-at-door.jpg

and the bugs!

http://www.wizards.com/dnd/images/MM35_gallery/MM35_PG35b.jpg

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@panzade,

Hi, Panzade. Actually, you might be surprised. I checked several MLS R.E. listings and there are some assorted condos to be had from between $38k to $60k. These are foreclosure or short-sales. Admittedly, with an almost-meaningless superficial look at the ads, I found some interesting (to me) properties at around $55 to $60k. Some even might be reasonably modern with energy consumption.

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Ragman. The fact that you have kin in the Sarasota area seems critical at yall's ages.
I googled in "Condo prices Sarasota FL." The 1st article was from a real estate broker there. I, like Pan, thought $65K was unrealistic, but the data on that site reports on MEDIAN prices as of 1/2010. Median = 50% above and 50% below the prices shown. You are not too far off depending the part of the Sarasota area you might be looking at.

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@tsarstepan,

Yes, there are alligators...but not so sure about crocodiles. Personally, I think I'm at low risk as I swim in pools and at the ocean, neither one of which has the chopping-chompers nearby. The fact that there's wildlife there is quite pleasing to me as a photographer.

FWIW, my 48lb lb Border Collie would go nowhere near one. I've seen one gator in the back yard at my sister's as she is living on a nature preserve. I do understand the risk. Also, the level of bugs is fairly low as they tend to spray to keep the bug level low and the numbers of (northern) tourists high. In fact, the Potomac area here No. VA in the summer is far worse so I'm told by local residents that lived in both areas.

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I've visited FL many times and never came away with the desire to live there but the Sarasota area is my favorite. I think it's a good choice for you, Ragman. One question though... are you prepared for FL summers? They can be as brutal as Boston winters.

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@Ragman,

Ragman- If I knew then what I know now, I would have moved to Sarasota. It is a wonderful area with lots of cultural things to do. Personally, I think that it is a great choice.

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@JPB,

when I think of Florida, I think of these guys...

http://www.youtube.com/watch?v=8KMYDNWA6IQ&feature=related

(don't miss 'em)

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@realjohnboy,

Welcome to the thread, Farmerman. I think that my family being around me is critical at this stage of the game.

I've researched cost of living issues and for the msot part the cost of living is far more reasonable there than in No. Va. For me, as an American veteran, I'm especially pleased as the state of Fla's #1 rated medical facility is in St. Petersburg area. Also the cultural aspect (access to the arts and etertainment) is greater than greater Albany NY area, but not quite at the level of No. VA-Wash DC. It's all about trade-offs.

So, let me understand what you wrote. Are you saying the median price IS 65k for a condo?

I'm (unfortunately for me) considering this as a potential investment and pray that I can see it as a stepping stone by purchasing an older condo around March (as tourist season winds down) and keeping it for 2-3 years with an eye towards a more permanent condo residence purchase in 2013-2015. Either way, getting back into the RE market sooner rather than later is my goal and that area will be hotter once this crisis blows over (if EVER).

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I have a lot of family in Bradenton, and have visited a few times. My grandparents retired and moved into a senior park there, and lived 20+ years there before passing. they thought that they had picked well. My mom's husband is a big time salior and very much enjoys taking his boat down to that area, in fact he is there right now.

the only thing I would caution about is that it looks like post Great Recession Florida is going to be less popular as a retirement destination. too many people have lost the financial ability to move to Florida and be without the assistance of family. A lot of these people are now going to move in with their kids, where ever the kids are. i am not sure that real estate values are ever going to come back. if you care about the size of the estate after your death this might be an issue.

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@hawkeye10,

Hawkeye: The size of my estate? Ummm..there's me, my dog and some furniture. I have no heirs, no real debts and a decent 12-yr-old car. Oh yes, a ton of camera equipment which I intend on using in a p/t photo business to generate extra $$$ to supplement my SS disability income.

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@Rockhead,

Thanks for posting that, Rock! I keep a hammer handy.

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@Phoenix32890,

TY, Phoenix. I hoped you'd make your comments here based on your posting in my "too hot to live" thread from last year.

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@JPB,

I think so. I had visited there in early September of '05. Can you say 'schvitz'? Yes, it was pretty steamy but I found that if I avoided outdoor exercise activity from 10 am to 5 pm. I do my power walks or dog walks around 8 am or after 6pm so I don't forsee that as an issue or show-stopper.

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No, Ragman. I have no idea what $65K would buy.
The site I looked at listed the median price in Sarasota-Bradenton as being $148K for 2009 and for Dec 2009. Charlotte County-North Port (which must be relatively nearby based on zip codes) shows $95K and $83K for all of 2009 and for Dec, 2009.
Nothing is mentioned in the data about the sizes of the condos or the amenities offered. I reckon you would have to decide how big a space you need and how important a pool etc are.
I didn't mean to suggest I knew anything in particular about the FL real estate market.

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I'm sure the 65k foreclosure is out there, just keep in mind that some of these condos have whopping monthly maintenance fees and that a special assessment can be demanded at any time for the past sins of previous boards who didn't set aside enough funds for the big ticket repairs like roofs and painting.
Be careful...but go for it

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Relocation to Warmer Climate

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