Florida Realtors see silver lining in dark cloud

Housing is hurting, but you can always count on the Florida Association of Realtors to supply some soothing balm.

In a barrage of press releases Thursday, the Orlando-based group suggested real estate's recovery will be driven by three forces: Florida's continuing popularity with foreigners, its stronger-than-average job creation and the retirement of baby boomers seeking warmer climes.

"We are in for a retiree boom, and we are in the right place for it," said Patricia Osborne, a Realtor in New Port Richey.

FAR noted that about 10 percent of Americans will retire in the next decade. Yes, it's talking about the vaunted baby boomers. And it quoted University of Central Florida economist Sean Snaith, who predicts  2008 will be a strong year for the state's economy - outside of home building, of course.

A crisis of confidence in real estate, combined with stingy credit, has produced the worst Florida housing sales in a decade.

Comments

[R.]

With all the locals that are moving to NC, SC and points north, I find it hard to believe that Fl is going to remain a 'retirement mecca.' As long as FL cannot get a handle on property taxes and insurance rate this sounds like a lot of spin or maybe an attempt at restructuring Real(i)ty

[carolina]

Where are all these jobs coming from...?

[bob]

The retirement boom of the 60s and 70s came when Florida was inexpensive. Retirees came here knowing they'd get a break on their property taxes, no income tax, and a warm, unhurried pace of life.

That's gone now. Property taxes and insurance would eat a retiree's nest egg in one gulp, and the quality of life is shot, choked with crowded roads and urban sprawl. There are nicer places to retire, and they're less expensive when you factor in the insane cost of impact fees, special taxing districts, hurricane insurance, and the like. Anyone counting on a retiree boom to save the Sunshine State isn't living in paradise, they're living in a fool's paradise.

[Chuck]

Florida still does not "GET IT!" taxes and insurance are driving people OUT of Florida. As long as this "head stuck in the ground" attitude exists, along with too high costs to live there, Florida will sse the backs of people leaving!WAKEUP!

[Rachel Sartain]

I spoke to a buyer who is moving to St. Petersburg from Pennsylvania. She came into the office and we discussed her retirement home, property insurance and taxes. The property taxes on a home here would be about 1/2 of what she would pay in Penn for the same priced property. We also discussed insurance rates and they were not much different than her current.

People talk about taxes and insurance but great strides have been made in the past year or so. Taxes have slightly decreased. There are 14 insurance carriers in Pinellas county. Go to www.shopandcompare.com to see. Taxes and insurance is just one of those conversations people like to have but in comparison Florida taxes are not as bad as the property taxes in other areas were the retirees are leaving.

[Mark]

What people "don't get" is what they don't see beyond thier own front door. There are 18,000,000 + people in this state, and it is alot bigger than just pasco county. The only people who think it is expensive here are the people who have lived here for more than 4-5 years. I would suggest Chuck move to New York, or New Jersey for a couple of years, buy a house and then come and tell us how expensive Florida is.

[James]

Mark, you are right on the money. Floridians that think this place is expensive have never given 10% of their income away to the state's tax man on April 15.

I moved here from up north and my tax savings pay for about 1/2 of my mortgage.