Considering moving back to FL (Vero Beach)

First, spent the better part of my first 35 yrs in the Central FL area between Orlando and Tampa. I left in '96. 90% of my family is in FL, the closest to Vero is 2 uncles and an aunt in Titusville.

Two part question, first, as I want to get near the water (both ICW and blue) Vero Beach area looks like a nice area. I have no desire to go any further south than that. Researching online I see 3/2 and 4/2 homes going for well under $200k, lots of them (foreclosure and short sales). From the photos they look pretty nice and I'd bet $20 - 30k would fix many of them up real nice and still leave me funds for a boat and slip fees. Is the market that depressed down there? Is it still good for the boating community?

Second, for those familiar with the FL RE market, how hard is it to get into one of these foreclosed/short sale houses these days? I know a couple of years ago getting the banks to sign off on a sale was like pulling hen's teeth, is it still?
Is there a web site that explains what
"HomePath Mortgage Financing or HomePath Renovation Financing" is,
or "4 day owner occupant or 15 day Investor Restriction" means?

Just a sample of what's listed....
1050 13TH SQ S - WATERFORD LAKES, Vero Beach, FLORIDA - John Makris Realtor

I've got outstanding credit, would most likely put 20%+ down (15 yr), seriously doubt financing would be an issue.

I guess my 3rd issue is how hard (expensive) is it to get homeowner's insurance down there? I know it went up quite a bit after Andrew.

Answered one of my questions

Fannie Mae REO Homes For Sale - HomePath.com

I guess my 3rd issue is how hard (expensive) is it to get homeowner's insurance down there? I know it went up quite a bit after Andrew.

The state of Fl has a free home inspection program that is accepted by the ins cos and may lower the cost of insurance.

Hip roof . storm shutters (legal to code) and garage door braces can reduce ins cost in 1/2.

Since its free , you might demand the construction inspection before purchase.

Also look at the county flood plan and purchase in the high spots.

Cape Canaveral area is probably lowest cost with the demise of NASA.

I wouldnt focus on short sales or foreclosures at this time in the market. A couple of years ago yes but not. That market is drying up along with the government money to the banks.

Prices are rising and a properly priced one is getting harder to find without getting into a bidding war.

On the East Coast, the further south you go, the more expensive insurance is.

We sell from St Augustine south through Palm Coast, Daytona and New Smyrna Beach.

If you need any info on this area, PM me and I'll have one of my people assist you.

One reason some folks move to FL is for great winter weather .

Unless you go south of a line from about Stuart , across lake O and then over to Bradenton or so you might be disapointed in the cold winter weather.

Sure anywhere is better than Buffalo or the U-P !!!

FF said:

One reason some folks move to FL is for great winter weather .

Unless you go south of a line from about Stuart , across lake O and then over to Bradenton or so you might be disapointed in the cold winter weather.

Sure anywhere is better than Buffalo or the U-P !!!

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How cold do you think it gets in the Daytona Beach area?

FF said:

One reason some folks move to FL is for great winter weather .

Unless you go south of a line from about Stuart , across lake O and then over to Bradenton or so you might be disapointed in the cold winter weather.

Sure anywhere is better than Buffalo or the U-P !!!

Click to expand...

After 35 yrs in FL I've lived in Atl., DE, PA and now TN, a winter anywhere in FL isn't going to intimidate me.

Wasn't going to focus on the shorts or repo's, just happened to find a web site that had easy access to those houses and was easy to browse. Thanks for the offer of assistance, when I get closer to my serious search I'll take you up on it. Right now I'm just trying to get a feel for the market (from long distance). I'll most likely take a drive down from Jax sometime over the winter for a better feel. Thanks again.

I'll most likely take a drive down from Jax sometime over the winter for a better feel.

IF you can rent for a couple of months so you can wander both coasts with plenty of time to observe.

The real estate market turned on a dime this spring. Inventory is tight, and prices back up as if nothing happened. Now rentals are available, because "investors" (read the banks that foreclosed!!!) have bought up the market and are now renting the homes back to people for amounts way larger than what the mortgage payments were! The people who lost their homes have no credit, and can't buy anything for 7 years. So they MUST rent.
Home Insurance is INSANELY high, as is auto insurance. The good news is that you don't HAVE to have home insurance if you paid cash. You might wish to read some Tim Dorsey novels before you move back here. It's uh-changed while you were gone.

Northeast and eastern central insurance is reasonable. Market is tighter since inventory is lower but prices are no where as high as they were. You can get mortgage financing two years after doing a short sale.

Thanks guys for all the info. My search is shifting a bit as I want to be reasonably close to an inlet for offshore fishing and diving. As much as I would love to have a house on a canal or river with ocean access that inventory seems kind of scarce (in my price range) so now I'm looking for something (3+ BR / 2+ Ba w/ garage) within 5-10 mi. or so of a decent marina. Volusia County is fine I just would rather not be in Daytona Beach.

Something like this is very intriguing (at least on a monitor 700 mi. away):
1862 Creekwater Blvd Port Orange, FL 32128 - EXIT Real Estate Results

Use my site;

http://ormond-daytona-beach-real-estate.com/

It covers all of eastern Volusia county

there are some attractively priced saltwater canal homes in Palm Coast, located about in the middle from Ponce Inlet and St Augustine inlets.

you can search that area on this site;

http://flagler-palm-coast-real-estate.com/

2 things, now I'm gonna be wasting more of my time looking at real estate and I guess canal front isn't out of my price range.

Outstanding web site BB, thanks!

993guy said:

2 things, now I'm gonna be wasting more of my time looking at real estate and I guess canal front isn't out of my price range.

Outstanding web site BB, thanks!

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NP. Anytime.