What do you all think of this apartment?
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I love solid minimalist apartment buildings like this. Always have. There are buildings like this in HI too.
And storm proof. But what are the insurance laws if no mortgage?There's a lot I don't know.
I'm researching my options.
The information on the property taxes according to the listing (I have to double check if it says for a year or not) and what Mr.Dial You Right Away agent told me might or might not conflict. This says taxes 2024 iirc for one thing so they could be higher for this reason alone.
Anyway, he said rates vs valuation vary among properties in the county. He said 5k/ year. I've never heard they can vary based on desirability of property. Isn't the desirability reflected in the asking price? I'm thinking I might need my own agent and maybe attorney.
I might buy a mobile home but am interested in this kind of apartment too.
TBH there's only one mobile home I'd like to have in this park. That said, I really want to have it.
I'm also looking at resident owned mobile home parks. These are deeded properties
I'm thinking these will be the three types of housing I might be able to afford.
Single family houses are going for astronomical prices.
Anyway, I want to know what you think of this apartment!
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No, wait! This one would be affordable and worth the price difference. It's on the 3rd floor not the 1st, and has a view of the water. Better renovation. I could live here.
It looks like the taxes are based on valuation and couldn't possibly be $5K/ year.
Of course it has an elevator so age in place would work.
I really like this building and it's location. There would be plenty of clean air and mobile homes don't have views worth anything in the interior. You couldn't live so closely together if they did...
Pet friendly.
One of the problems of mobile homes is they can't be insured. So if a hurricane reduces your trailer to matchsticks you end up homeless.
I could show you ones here that I have the experience and knowledge to tell they've been lifted into the air and dropped violently leaving everything out of alignment. It's very clear if you know what you're looking at...
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BTW, the accountant has done his work, all of the paperwork I'm aware of has been done, the house sale went through; the estate hasn't settled yet in so far as the hearing where the judge makes the settlement order hadn't happened yet. I don't know why a date hasn't been set. My cousin said she had "no idea" if it would settle in February. I can't call the probate attorney because we have no working relationship. I have a law firm in Florida. I could call them but have no reason. My cousin deals with the probate attorney. What is the hold up?! I don't know! It's not going to happen and then one day I'll get word of the date it will happen or be told it happened. I wish the system would clear it already. All the work has been done. I thought once my cousin had said it settled. We crossed wires. She was talking about the payment for the house having been wired to the estate.
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Roommate update-- he stopped saying a word to be after December 26. He made it a long time, but yesterday evening he lost his composure and accused me of stealing his potato chips (WTF?).
I told him it was a false accusation. I told him I was more than happy to go on not speaking to him but I would defend myself against false accusations and verbal abuse. Hopefully, he will go back to keeping quiet.
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What do you think of this total contrast:
https://www.rightmove.co.uk/properties/164257463#/?channel=RES_BUY
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Somewhat limited experience with condos here, but I am aware of a few things that need to be considered when buying one.
First is the competence of the management company and also the HOA board. People who live in a condo building are relying on the management company to keep up the property well and to address issues promptly as they come up. The board represents the wishes of the residents, so you want to be sure that whatever rules are in place are things you agree with.
It's also good to take a look at the financials. You get charged an HOA fee that goes towards the maintenance of the building. That includes the everyday stuff and also major long term projects like putting on a new roof, etc. If the association runs short of money, they may call for a special assessment to cover an unexpected cost.
So from my limited experience with my Mom's condo....
They had a small family-run management company and tons of involvement by residents who were on the HOA board. These folks were retired business people who had experience in a lot of relevant areas (finance, construction, etc),. People tended to live in their units for many years and had a commitment to the community. That resulted in an association was really well run. They kept a tight rein on costs but always were careful with keeping up with maintenance. And for instance, they ended up phasing out owner rentals because they wanted owners only living in the community, not renters. There was an on-site manager and he helped run interference for the residents with the management company.
Monthly HOA fees weren't cheap but they were reasonable and the community had no special assessments for 30 years. Right around the time my mom went into memory care and I sold her condo, they had their first special assessment ever. Later the small management company went out of business and that role was taken over by a much larger national outfit. They weren't as responsive as the previous group and residents haven't been nearly as happy with the new management.
Anyway, just want to note some of the things that can affect your costs and your day-to-day life that are out of your control and that come with condo living.
@Daniel said in What do you all think of this apartment?:
But what are the insurance laws if no mortgage
It will depend on what the condo association covers. They typically have a statement of what their policy covers, and then an insurance agent can help you get the appropriate level of coverage that you pay for, to cover what you are responsible for.
As for the units you've posted, I noticed that the first one is a short sale and that the sale is Pending, which means there's a deal about ready to close.
The second one sold in June 2024, I'm guessing it got remodeled and went up on the market in July 2025. They've reduced the price a little, but it's been on the market for 200 days. I don't know if that's typical for your area, or if it means that there's an issue with it or maybe it's overpriced. A realtor can provide you with comps of similar units that have sold recently so you can get a better idea whether the price they are asking is reasonable.
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You tease me, Sir, with your tower houses, at ridiculously low prices!
Yeah, I'm waiting until my money is in the bank before I do anything. And, you are correct. I'll be in a position to negotiate prices down. There is a lot to know about buying real estate. This place isn't real estate because it's titled, not deeded. Also, I didn't negotiate the sale. My name was put on the title later.
This apartment being is c. 1972, iirc.
I like mid-century high rise apartment buildings a lot. They were built to last forever. They were, also, built to a human scale.
This was what I call, 'The Jet Age," a time when middle and working-class Americans were affluent, and would travel by plane around the world. It was a time when the experience of flying was flying, not like having a ticket to ride a bus, when you didn't get a bag of peanuts practically thrown at you, let alone dragged off a plane. They didn't even ask for ID.
At the same time, PanAm and TWA were what they used to be. The "Jet Set" was real. Jacqueline Kennedy Onassis would stride through the New York airport bearing the name of John F. Kennedy. These women were called, "The Swans." Their society lasted until Truman Capote wrote a tell-all book about them, being an insider. Then it all went to hell. But that is a story for a different day.
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Here are some units (of varying sizes) in and around the address of the building that you posted on Cove Cay. They have sold recently.
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I think a lot of people ask friends and family. Some general tips:
https://www.zillow.com/learn/how-to-find-a-good-real-estate-agent/
edit to add: https://www.zillow.com/learn/choose-right-real-estate-agent/
https://www.homelight.com/blog/search-for-a-realtor/
I am not familiar with the newer ways of finding an agent like online agent matching services that are described in that HomeLight article, so I can't comment on how effective they are.
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I just found one more that I think is helpful. It also highlights something that I was not aware of, namely some changes to how commissions are paid to agents involved. They went into effect in 2024; I haven't done any real estate transactions since 2020.
How do your fees work?
Listing agents work for commission. When the seller pays a listing agent a 3% commission, that agent typically splits it with the brokerage he or she is a part of. For buyers, the changes to the commission rules and regulations mean being responsible for paying the buyer’s agent commission. These changes took effect in August 2024 following the NAR landmark lawsuit settlement terms. You can negotiate with your agent directly about commissions, and the agent will also split the agreed-upon commission with his or her brokerage.
While fees should always be negotiable, Bonnie Fleishman, a top-selling real estate agent in Glen Burnie, Maryland, warns sellers, “Don’t work with somebody because they say they’ll cut their commission. Use somebody you feel confident is going to give you the best advice.”
https://www.homelight.com/blog/questions-to-ask-a-real-estate-agent/
I know it's a lot of reading, but I think a good investment in time so you can navigate the buying process and get a home you love.
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Here are some units (of varying sizes) in and around the address of the building that you posted on Cove Cay. They have sold recently.
@wtg said in What do you all think of this apartment?:
Here are some units (of varying sizes) in and around the address of the building that you posted on Cove Cay. They have sold recently.
I figured out why the prices are reasonable. This is facing Tampa Bay. Prices in the West side of the County facing the Gulf are likely to be much higher.
I don't think it would matter in terms of air quality. The land mass at this point is very narrow.
Tampa is a railroad terminus, is a major US port, has one of the county's busiest international airport s, and has piles of industrial waste related to agriculture following the coast as soon as you get out of the city heading south.
Pinellas is an environmental paradise compared to Tampa. Tampa's air and water are terrible. I don't care what anyone says. I know this from experience.
I'm obsessed with this building now. That doesn't mean buying there would be a good decision. But my mind works this way. It will lock on to something I like.
I'm also obsessed with Andy's tower house. Thanks a lot, Andy! j/k
