Tanada wrote:Perversely this hurricane may make it easier for Ibon to sell his Florida property for a good profit. There are a certain type of buyers out there who believe unconsciously that because the property was perfectly fine in this storm event it has some quality of immunity to damage. That makes no logical sense at all, but I have seen this effect play out. For example if a neighborhood is struck by a tornado and the house next to a destroyed home is put up for sale the mere fact that the next house over was destroyed but not that house causes some people to believe it is a 'lucky house'.
It's funny isn't it. This might be true. Something else. One of our homes is the 5th oldest residency in Fort Lauderdale. It was built in 1918 and will be 100 years old in two years. It still stands after a century with many hurricanes in that period.
There is something now that is making us consider to continue to do short term rentals for another couple years. There is an express train route Miami to Orlando called BrightLine. Here is a link
http://www.allaboardflorida.com/It will be launched 2017 and will be high speed (Max 125MPH). The Fort Lauderdale station is now under construction and will be the first stop from Miami. This station is 1/4 mile from our rental home and there is a boom going on in the area with high density urban housing going up all around. We are sitting on this historical home right in the midst of this expansion and growth and it is forecasted that there will be an influx of home buyers from overcrowded Miami because the commute to Miami will be 22 minutes from The Fort Lauderdale station.
What do you guys think? I think there are still a lot more home buyers not thinking about sea level rise or hurricanes still on the mid term horizon. I think we still have time to wait a couple years and take advantage of the price gains forecasted. The home is very very unique in Fort Lauderdale. Here again is a link for anyone interested in seeing the home.
https://www.vrbo.com/428299 Another question now is what do we do with the proceeds if we sell? Stock market? I don't think so. We have a great property manager who looks after the place when we are in Panama. He just told us he can commit to another couple of years of managing the property.
This is typical Libra indecision on our part (my wife and I are both Libras) . We decide to sell, then back track. We are now reconsidering. Hurricane Mathew has came and went.
Remember that the damaging part of any hurricane is around the core and eye of the storm. Hurricane force winds only extend about 10 miles on either side of the eye. Afterwards you have mostly tropical storm forced winds. So we have a couple thousand miles of coastline from Florida to New York and what is really the probability that your property will fall in that 10-15 mile core area where it can get demolished or severely damaged? 100 years and still standing and we do not have wind insurance ??
Patiently awaiting the pathogens. Our resiliency resembles an invasive weed. We are the Kudzu Ape
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