|some of you saw this on Beaus Blog and commented about our beautiful neighborhood|
Under my label Walkamile I have shown you only photos of beautiful homes on my walk with Big boy and walks with Beau .
these are The Rest of The homes, the not so beautiful.
When we bought our house 32 years ago, this was the place to buy, since then a lot of the houses have become rentals.
We have been surrounded by rentals for years.
The rent is so high people can't afford to live one family to a house.
Rent runs 1200 to 2100 a month.
All the cars in the drive way, means several working adults live together to afford the mortgage or rent.
32 years ago, there was not a single rental in our neighborhood.
Most were retirees.
In the past 5 years, 6 of the neighbors that were next to or across from of have passed away, one couple went into assisted living.
In the years of Pandemic, the yards have filled with cars.
The homes have become rentals and multi family,
We are one of a few that have been here long enough to have our home paid for.
Investors call daily wanting to buy our home and fix it up and resell it.
The investors are causing inflation of prices, the homes sell for so much the average person can't afford the payment.
Investors buy cheap and then flip the houses.
Some of you will remember the yellow and aqua homes that were recently painted and a part of our front window view.
As of 6 months ago 5 of the six in our front view have sold at exorbitant prices.
At first I thought, yay that raises the value of our house.
Until the email bill for our homeowners insurance for the coming year.
Already extremely high because we live in a hurricane state, it jumped 483.99 since last year.
Shocked I grabbed last year policy to compare and found the reason.
They have accessed our replacement value per the values of the homes that have sold.
Also our taxes will go up accordingly.
This means the house we own free and clear will cost us a lot more in taxes and insurance.
We are retired on fixed income.
Add to this the inflation of food and sundries because of the pandemic, I almost panicked.
In the past 3 years nearly every home we walk past has been flipped by inspectors.
Many of these homes in my Walkabout label, our neighborhood we walk in,
were flipped in the past 2 years.
Now all those people have a mortgage so high they will not be able to sell the house if they need to.
The reason they were rentals is the owners owed more than they were worth and could not sell them.
The problem is, if we sold our house, we could not find another one to buy, but would have to have a mortgage.
We will hang tight until we die or the house falls in a sink hole.
The Castrophizer read the fine print on homeowners, that says if the house falls in a sink hole, and the govt declares it inhabitable, the insurance covers it.
if it falls part way in a sink hole it covers NOTHING.
Sink holes are common in Florida,