How can 10 miles make such a diff in FL?

[LuvDaOcean]

I've been reading the real estate listings in FL for quite a while now and cannot understand why, for example, a home in Plantation with acreage, lots of square footage, screened in pool, etc., can be SO much cheaper (50% in many cases) than a home with not nearly so much to offer in Ft. Lauderdale. I mean, these locations are only about 10 miles away from each another. I just don't get it?

What say you, Floridians (or anyone else familiar with the area)?

 

[Bill51]

For the same reason my home is 40% more than the exact same home across the street from me – it’s not on the water. Proximity to water is a huge real estate price factor here, and much like the Bay Area or Marin County, the lots are many times worth much more than the structure.

 

[cdiver2]

For the same reason my home is 40% more than the exact same home across the street from me – it’s not on the water. Proximity to water is a huge real estate price factor here, and much like the Bay Area or Marin County, the lots are many times worth much more than the structure.

Location location location. I have seen shacks on the water go for hundreds of thousands only to be torn down by the buyer and a new home built

 

[BIGSAGE136]

Fort Lauderdale is being "revitalized". You would'nt believe the difference between now and 5 years ago. Five years from now it will be even more "revitalized" Homes that were $100k 3 years ago are now $350k. Where once there was blight there are now $500k 1 bedroom condos. The shock is that people move down here, and pay it!

The weeping you hear are the natives watching it all go down the tubes.

 

[DennisS]

10 blocks can make a big difference in real estate prices. East of US1 and West of US 1 makes for a big difference in prices.

 

[LuvDaOcean]

So, is it all about being near the water?

What about quality of life? Does that factor in at all? What I mean by that is, instead of being squashed right smack up to your next door neighbors with next to no privacy & cement everywhere, do the residents value space to breathe, room for their children to run around and play and explore, room for pets to live outdoors w/o bothering neighbors, etc., etc.?

I'm so baffled by this because around here, yes, real estate is much more expensive right on the ocean, but a house on a large plot of land on the outskirts of major cities/towns can sell for just as much as a home on the ocean, if not more. From what I've seen in the FL real estate listings this doesn't seem to be the case. ???

I'm also a bit confused by the importance of a home's "exposure". This must be pretty important to residents since it's mentioned in every FL real estate listing (i.e., "southern exposure", "northern exposure", etc.). I know I probably sound really naive, but what does all that mean?

TIA for helping me figure all of this out. I can't seem to find the answer to these questions anywhere else. Either that, or I'm not punching the right search words into Google. *shrug*

 

[Bill51]

One thing I learned having just moved to Florida a few years ago is that with all the things to do outside the home year round my house is much less a center of my activities than it was in many other parts of the country. I had a patio home in the KC area that I lived in during the week, a farm home on 16 acres outside of town, and also spent weekends living on my cabin cruiser at the lake to get away from the city house. Now that I’m living in Florida I’m looking for ways to make my yard smaller so I have more time to get out and about.

I’ve lived in many places from Berkley to Montreal, but I’ve discovered that Florida has a more different lifestyle than anywhere I’ve been before. My part of the state reminds me of living in Huntington Beach circa 1963. I just don’t feel the need any longer to be isolated like I have in other areas, and I enjoy knowing that a cooler of beer on my dock on Saturday afternoon and all the neighbors will be by in their boats to stop and chat. While my area doesn’t have cramped yards, all the kids in the neighborhood play in the canals on their kayaks instead of in the yards – plus you don’t have to cut the grass in the canal, but you can still enjoy it.

Having been involved in home construction and real estate development a good part of my life, it took me a while to get used to seeing a house with 3 cars on jack stands next to a home with a Rolls and Jag in the driveway and no one seems to notice or care. On my island you can buy an equestrian home on 3 acres for 75% the price of a similar home on a small waterfront lot. It all depends on what you’re looking for in a home, and many people discover what they think they want isn’t what they want after they’ve experienced living here a while – and others are just moving in to take advantage of 39% per year appreciation on homes.