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| - SEPTEMBER 2003 ISSUE | ||||||||
| Florida
Homes: What Will $200,000 Buy? You may have to settle for a tiny condo in some of Florida×s most popular neighborhoods. If you×re willing to live in the suburbs, that×s a different story.
By Cynthia Barnett, Amy Welch
Brill, John Finotti, Joan Hughes, Mike Vogel
Consider this: The $100,000 home you bought in 1998 is now worth
$150,000. A $200,000 home is now worth $300,000. According to the
Florida Association of Realtors, the median price of a resale home
in Florida has jumped more than 51% over the past five years, from
$97,500 to $151,200. And demand for Florida homes is fueling new construction, as well. Florida registered the second-largest gain in housing units in the year ended July 1, 2002. So with prices rising robustly and demand still healthy, exactly how much home can you buy in various parts of Florida for $200,000? Florida Trend canvassed the state. We checked both rural and urban markets from Pensacola in the Panhandle to Key West. On the following pages, you×ll find out, for instance, that while $200,000 can get you a 3,000-sq.-ft., two-story home in Taylor County overlooking a river, that same amount will buy you only a 513-sq.-ft. studio condo in Key West. SOUTHEAST Broward / Palm Beach West Palm Beach
Fort Lauderdale 3 miles from downtown Square Feet: 1,505 Bedrooms/Baths: 3 / 2 Age: 26 Selling Price: $195,000 This home, southwest of downtown Fort Lauderdale, is close to I-95, 595 and U.S. 441. While the kitchen and baths had been updated, the house had neither a garage nor carport.
West Palm Beach 3 miles from downtown Square Feet: 1,200 Bedrooms/Baths: 2 / 2 Age: 25 Selling Price: $199,500 The condo, in a building that overlooks the Intracoastal, ocean and city, comes with two parking spaces and is on North Flagler Drive.
Miramar Square Feet: 1,246 Bedrooms/Baths: 3 / 2 Age: 6 Selling Price: $190,000 This home in the Silver Lakes development in southwest Broward County sold in two hours, says Stanley Rosen of Keyes Co. It has a one-car garage. Miami-Dade / Monroe Key West
Miami Beach
Miami Beach Square Feet: 641 Bedrooms/Baths: 1 / 1 1/2 Age: 22 Selling Price: $199,900 This seventh-floor condo unit is in an oceanfront building built in 1981. Donna Bloom of Coldwell Banker says $200,000 won×t buy a single-family detached home on Miami Beach. As for condos at that price, •there×s not really much at all.ö Treasure Coast Hutchinson Island
Port St. Lucie Square Feet: 1,990 Bedrooms/Baths: 3 / 2 Age: 13 Selling Price: $200,000 The home comes with a 28-by-14 pool and is in a moderate, upscale neighborhood in St. Lucie West with lots of golf in the area.
Southwest / Tampa Bay Ft. Myers / Naples South Fort Myers
Naples Tampa / St. Pete / Clearwater St. Petersburg
South Tampa Palma Ceia Square Feet: 1,195 Bedrooms/Baths: 2 / 1 Age: 61 Selling Price: $200,000 Palma Ceia, five miles from downtown and just blocks from Hyde Park×s trendy cafes and upscale shopping, is a Tampa hot spot. The home sold in 1988 for $49,500.
Pasco County Trinity community Square Feet: 2,194 Bedrooms/Baths: 4 / 2 Age: 4 Selling Price: $200,000 Located on the Pasco/Pinellas county line just a mile north of Palm Harbor, the house has a garden bath, walk-in closets and an oversized two-car garage.
Clearwater, Island Estates Square Feet: 1,215 Bedrooms/Baths: 2 / 2 Age: 15 Selling Price: $239,000 It×s tough to get anything on Clearwater Beach for anything below the high $300,000s. This older condo is the closest thing on the market for $200,000 with a view — of the Intracoastal. The unit has been updated.
Sarasota / Bradenton Bradenton
Sarasota Nottingham neighborhood Square Feet: 1,720 Bedrooms/Baths: 3 / 2 Age: 13 Selling Price: $199,000 Just two miles from trendy neighborhoods west of the Tamiami Trail that boast views of the bay and downtown, this ranch home has a pool and dual walk-in closets. It×s a few blocks from Fruitville Road, a major thoroughfare connecting downtown with Interstate 75.
Central Orlando Southwest Orlando
Downtown Orlando Lake Eola neighborhood Square Feet: 1,000 Bedrooms/Baths: 2 / 1 Age: 49 Selling Price: $215,000 This cottage three blocks from Lake Eola in Orlando×s downtown sold for $98,000 in 1990. The revitalization of downtown has more than doubled the price of this non-restored historic property.
Orlando Thornton Park neighborhood Square Feet: 1,680 Bedrooms/Baths: 2 / 2 1 2 Age: 30 Selling Price: $202,000 The three-story town home×s previous sale price of $90,000 in 1995 (with only one real improvement since) shows how things have changed in Thornton Park, just a mile or two from downtown Orlando. The neighborhood was once an area where people wouldn×t walk after dark.
Osceola / Seminole Kissimmee
Lake Mary Seminole County Square Feet: 2,173 Bedrooms/Baths: 4 / 2 1/2 Age: 12 Selling Price: $204,900 Some of the best schools in the nation (as recently ranked by Newsweek) and a half-hour commute to Orlando make Seminole County among the hottest bedroom communities in Florida. This home has a screened-in, lagoon-style pool with a stone waterfall. Space Coast Cape Canaveral
Northeast Jacksonville Green Cove Springs
Jacksonville Square Feet: 2,108 Bedrooms/Baths: 3 / 2 1/2 Age: 9 Selling Price: $200,000 Off Atlantic Boulevard in Jacksonville×s fast-growing — and increasingly congested — Southside, this split-level home overlooks a man-made lake and has a two-car garage.
Downtown Jacksonville Square Feet: 1,442 Bedrooms/Baths: 3 / 1 Age: 80 Selling Price: $199,900 The renovated 1923 bungalow is in Avondale near downtown shops and restaurants. It includes a sun room, formal living and dining rooms and an updated eat-in kitchen with new appliances.
Atlantic Beach 22 miles east of Jacksonville Square Feet: 1,328 Bedrooms/Baths: 3 / 2 Age: 40 Selling Price: $199,900 A one-story bungalow on main street in one of the Jacksonville area×s most sought-after beach communities. A recent renovation includes a new kitchen. The house sold for $81,000 in 1995. St. Augustine /Palm Coast St. Augustine
Palm Coast Gainesville / Alachua Ocala
Northwest Gainesville Brookfield subdivision Square Feet: 2,200 Bedrooms/Baths: 3 / 2 Age: New Selling Price: $201,000 While environmentally minded Gainesvillians worry about what they see as sprawling growth on the west side, Brookfield is close-in by other Florida-city standards: It×s just seven miles, or a 15-minute drive in traffic, to the University of Florida campus.
Northwest Northwest Coastal East Panama City Beach
East Panama City Beach Summerwood Community Square Feet: 2,200 Bedrooms/Baths: 4 / 2 1/2 Age: 2 Selling Price: $200,000 This home, part of the Arvida/St. Joe Co. Summerwood development, includes a hot tub, enclosed patio, heated swimming pool, gas fireplace and cathedral ceilings.
Southeast Pensacola East Hill area Square Feet: 1,645 Bedrooms/Baths: 2 / 2 Age: 65 Selling Price: $207,500 Historic East Hill, five minutes from downtown, has become one of the most popular residential areas in Pensacola. On a large corner double lot, the home has hardwood flooring, ceramic tile, a formal dining room, a covered wraparound porch, brick courtyard and pool.
Southwest Pensacola Chandelle subdivision Square Feet: 2,200 Bedrooms/Baths: 4 / 2 Age: 4 Selling Price: $200,000 Southwest Pensacola is the fastest-growing area in Escambia County. This contemporary home has an enclosed pool. Chandelle is less than 10 minutes from the pristine beaches of Perdido Key and 20 minutes from historic downtown Pensacola.
Fort Walton Beach Kenwood area Square Feet: 2,200 Bedrooms/Baths: 3 / 2 1/2 Age: 18 Selling Price: $198,000 The golf course community home has a stone fireplace, sits on a large lot and has a pool. Close proximity to downtown, malls, Destin×s beaches and Eglin and Hurlburt Air Force Bases makes the area attractive.
West Fort Walton Beach Scottsdale subdivision Square Feet: 2,376 Bedrooms/Baths: 4 / 2 1/2 Age: 23 Selling Price: $195,000 This home sits on a large corner lot in an older neighborhood minutes from downtown and has been remodeled to include tile and marble flooring. It has a pool, separate workshop, double garage and professional tropical landscaping.
Northwest Rural Marianna
Taylor County Steinhatchee Square Feet: 3,000 Bedrooms/Baths: 3 / 4 Age: 10 Selling Price: $217,000 This two-unit home has two screened-in porches overlooking the Steinhatchee River. The price included the lot next door, bringing the total land to an acre and a half. Tallahassee Tallahassee | ||||||||
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