Unveiling the Real Estate Landscape: A Deep Dive into South Florida's Market

  The real estate market is a dynamic realm, ever-shifting, and responding to an intricate dance of economic factors. In the lush landscapes of South Florida, this dance has taken center stage, as revealed in a recent discussion featuring Kevin Morris (Kev &Suz) and insights from Ken Johnson, a seasoned professor at FAU. Let's embark on a journey through the key revelations and expert opinions on the current state of South Florida's real estate market. Rising Tides: The Surge in Real Estate Prices Concerns Addressed South Florida has witnessed a surge in real estate prices, a phenomenon that has been bubbling up over the past couple of years. The pressing concern on everyone's mind: Are we on the brink of a crash akin to the 2008 recession? Unraveling the Driving Forces Equity Levels Unlike the precarious scenario of 2008, South Florida's current homeowners boast significantly higher equity levels. Overleveraging is less of a concern, creating a more stable foundation. Price Increase Trends While prices are still ascending, there's a noticeable deceleration in the trajectory. There's even talk of a potential plateau in 2024-2025, signaling a shift in the market dynamics. Inventory Situation A unique challenge faced is the limited inventory, attributed to a vertical construction approach. Instead of spreading out, South Florida is building up, impacting the availability of properties. Ken Johnson's Wisdom: Navigating the Storm Enter Ken Johnson, a beacon of insight from Florida Atlantic University (FAU). According to Johnson, there's no immediate indication of a housing market crash. Instead, a significant shortage of properties acts as the driving force behind the continuous price increases. The scarcity narrative remains intact, sustaining the market's upward trajectory. Scarcity Impact The scarcity of available properties intensifies competition among buyers, sustaining the upward trajectory of prices. Johnson sees this scarcity as a typical characteristic of a market nearing its peak. Infrastructure Development Ongoing infrastructure development projects contribute to stabilizing the market. Widening highways and improving transportation options reflect positively on the overall market scenario. Navigating Affordability: Interest Rates and Beyond Interest Rate Impact Recent increases in interest rates by the Federal Reserve are discussed. However, there's an optimistic outlook, with expectations of a stable or potentially decreasing trend in interest rates in the upcoming months. Affordability Advice The audience is advised to consider the comprehensive picture of homeownership costs, not fixating solely on interest rates. The emphasis is on securing a home at the current price rather than waiting for potential rate drops. Peering into the Future: Market Trends and Forecasts Population Shifts A forecasted south-to-north domino effect in South Florida suggests Palm Beach county growing faster than Broward, and Broward surpassing Miami—a surprising trend compared to previous years. Affordability Concerns Locals feeling priced out are migrating to other parts of Florida, creating a dynamic shift in real estate dynamics. Stabilization Prediction While the overall market is experiencing a slowdown in transactions, the consensus is not about an impending crash but a gradual stabilization. South Florida's real estate market is predicted to offer a favorable environment for homeowners, sellers, and buyers. Engaging with the Insights The presentation concludes by encouraging viewers to actively engage with the content. The audience is invited to comment on topics of interest, fostering a sense of community and interaction. In conclusion, South Florida's real estate market appears to be at a crucial juncture. While the peak is in sight, the likelihood of a crash seems minimal. Instead, a gradual stabilization sets the stage for a promising future in the South Florida real estate arena.  

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Frequently Asked Questions Before Moving To South Florida (FAQs Answered!)

Are you planning on moving to South Florida? Maybe you’re thinking of making the move to South Florida but you first want to know what it’s like in South Florida and also get some insight about living in South Florida? Or maybe you want to know the answers to the FREQUENTLY ASKED QUESTIONS before moving to South Florida ? We will learn about the Pros and Cons of living in South Florida. Then this video is for you! Thinking about moving to South Florida, many folks do. Do you wanna know what you should know before moving to South Florida? Some of the questions you need to ask, we'll stick around and we'll give you those questions and we'll also give you the answers. In this video we're gonna talk about some of the frequently asked questions and things that our clients and friends have asked us about living in South Florida. If you're interested in those question, Stick around to the end. Hi, I'm Kev. And I'm Sue. And welcome to living in Fort Lauderdale with Kevin Sues. We're local realtors, and as much as we love doing the videos , and we do, and we're learning and having fun doing this, we love helping folks with their decisions on whether to relocate down here to South Florida, whether they want to buy or sell or whatever. So let's get going, Sue. So let's talk about some of the frequently asked questions, and let's give them some answers. All right. Sounds good. One of the questions that we hear frequently is the traffic really that bad in South Florida? What do you think, Kev? Unfortunately, as one that does most of the driving and everything else, driving all over the place, I have to say. Yeah, it is. But you know what? It's not for the reasons that most people think. Okay. The biggest challenge with the traffic down here is that they're trying to expand the infrastructure so that they can accommodate more people, cuz there are more people coming down at the same time that people are trying to use Remember when we lived up in Georgia, they would have periods of time where they would basically shut down lanes and late at night and do stuff like that. They don't really do that down here, so it's of like trying to build a plane while you're heading down the runway. So that's one of the reasons. The other reason is that, with the weather that comes down here and all the great weather we have, we do have those couple of months, we'll talk about it later, and the hurricanes and everything else. So when adverse weather does come through, it can play havoc on some of the streets down here and stuff like that. But probably the single most significant reason. Is that depending upon a time of the year, the on season or the off season, and those of you. Have heard us before in our videos, talk about the on season. The high season is between October and May. The population down here, it doubles and sometimes triples. Yeah, no kidding. It really truly does. So what ends up happening is that you have so many people coming down here that you really don't even get an opportunity to work on the roads. Ironically, one of the folks who recently moved here from the west coast out in Oregon actually told me that basically what he thinks it is, nobody's really from. So what ends up happening is you have people that are from all over the place and they drive the way that they drive wherever they came from. And there's really not a good job of kind of melding or molding it in. So you have folks that come from New York, folks that come from la, folks that come from Central and South America, folks that come from Europe. You've got people coming from Kansas and even Ohio. And they come from all over the place and basically they have their way of driving and that's the way it is. And that's the way it is. So su Yes. Unfortu. The traffic really is that bad down here, . And the other thing is they lay on the horns constantly. You can be at a stop sign and you're not going anywhere. And soon as it turns, if you do not have your foot on the gas, somebody's gonna be blowing a horn. That's true. That's true. They'll blow a horn because they want to cut in front of you. That's true. Okay. The next question is there really that many tourists. Is there really that many tourists? Let's explain. So yeah, actually there are a lot of tourists down here. Florida's probably second only to California in the number of tourists that come down through here. And with the possible exception of those that are heading out to that basically that that people trap built by a mouse called Disney World. Yeah. And you have Universal and you've got Bush Gardens. But South Florida for the most part, is probably the most popular tourist destination here, and for a couple of reasons, not the least of which is if you look around the, our video, you'll see it's the middle of March where most of you are fear wondering whether it's gonna break freezing above the Mason Dixon line. Okay? We're sitting here in the mid eighties and march with short sleeves and short pants on. So that's the number one reason. That's true. And let's face it, it's spring break. We've got a lot of people coming here for spring. There's many activities to do. Yeah, so basically there is a lot of tourists that come down here and a lot of people come down here and contrary to a lot of other places where they're going for a weekend or for a week, a lot of folks come down here, they'll be down here for a month, they'll be down here for six weeks. So it's not as if you're coming in for a weekend and going out for a weekend. It's basically you're gonna be down here for some period of time. Yeah. So yes, there are a lot of tourists that come down here, South Florida specifically, its economy derives a lot of its revenue and a lot of its. Comes from the tourism industry, not all of it, cuz we're seeing an increase in, healthcare and financial services. And technology. But still tourism probably is probably the single most significant chunk of our economy down here. So are most people here that live in South Florida? Are they retirees? That used to be like that. I remember when my grandparents had retired down to basically St. Petersburg and my other's grandparents retired down to Fort Lauderdale. And when I was a kid, I can remember coming down here and visiting them in the wintertime and it was great. I was much rather be down here shoveling sand on the beach than shoveling about three or four inches of party cloudy off the driveway. But yeah. In other words you mean the snow? Exactly. Exactly. But essentially what we're seeing now is that there are a lot of opportunities for retirees to come down here, and they've been coming down here for decades and for generations, but no, which we're seeing now over the last probably. 10 to 15 years is a huge shift. And the demographics of folks that are coming down here, You have some of the little bedroom communities such as Margate and Tamarack, which are putting a huge focus on family life and family values to bring families down here you have areas such as Boynton Beach and Delray Beach that are also, wanting to maintain that kind of the beach town. So they have the young and the old that come down. But there's also a lot of industry coming in here and a lot of business that comes in here that are attracting folks that are looking just for a little bit different lifestyle. They're not quite ready to retire, but maybe they're thinking about it in a few years or whatever. So check out one of our videos before on Deerfield Beach. Is it a great place to retire? You can get some information on that, who's retiring and what the options are. But even if you're not ready to retire, if you just want to take advantage of some great weather, some beautiful weather, a lot of things to do, as I said before I read somewhere, I'm trying to think of where it was. We get about 8,000 hours of sunlight every year. Now, last time I checked, that comes out to almost eight hours a day. So that's a lot of sunlight getting out there and with temperatures that are. We're a small range now, once in a while. Yeah, this is true. Yeah. But with temperatures that it may be in the mid to high sixties in the winter and in the, high eighties, low nineties in the summer. It's a great place to be and a great thing to do. Yeah. But no, it's not South Florida is not just for retirees anymore. It's for just anybody who wants to enjoy a healthy outdoor lifestyle and make a change and just enjoy yourself. Okay. One of the questions is, what is this about? It's funny you ask about that. I was reading about this a couple days ago. On the internet. I was thinking about it myself, what causes it? How does it happen? For those of you that don't know, basically the majority of the ground here in South Florida is made up of three things. It's made up of limestone, which is very porous. It's made up of coral, which is basically dead fossils. And it's also made up of what they call carbonate stone. Okay. Which is also very porous. And what happens is that over time, because of the porosity, basically the ability of the surrounding area to absorb the water and let the water soak through. Sometimes dries out a little bit and becomes a little bit crumbly. The other thing is that the way that we get. Water here in South Florida is through the, basically the underground aquifers, and those are big pools. Big lakes of water. Think underground lakes like any of those of you, any of you that have seen a journey to the center of the earth, so you know exactly what I'm talking about. Ladies and gentlemen, I give you the center of. The earth. Whoa. But any of those underground lakes that basically, have all this fresh water in there. And what happens is that when you yeah, draw water from that too quick and everything dries out, basically things start to crumble. Now there's really no reason why or where for as to why the sinkholes happen and where they happen. But they do happen, and they do happen not with a whole lot of frequency and not nearly with the frequency at which we get the hurricanes and the bad storms coming through here. It's a good question, Sue, because people have asked about it and I had to go back out and do a little bit of research that I could figure out A, what porosity meant, and B, what carbon it stone was. Okay, So is there one area that has more sinkholes than another? Yeah, actually the areas, if you take a look around, it's probably the middle portion of South Florida here. I would say probably for those of you that are looking at a map, it's the areas that are basically west of 90. Going out towards the Everglades because the Everglades being a swamp and there's, up until recently there was a huge reclamation, land reclamation effort that went on that basically tried to suck water out of the swamp so they could build more homes. So yeah, su down around that area is the, is the big area. There's a couple that makes sense. It's a couple areas going a little further north, going up and towards Orlando and stuff like that, where basically the same things have. So now if, however, if you have a concern and you're looking at purchasing some property or whatever, just reach out give us a ring and we'll help you with that. Okay, let, definitely let you know. We kinda look at it from the same perspective as looking at flood zones, which actually, while not same thing as a sinkhole, as actually something that somebody else asked about that just reminded me cuz I was pondering. So basically what is a flood zone? And a flood zone is basically an area that depending upon it, an average over a certain number of years, being it 25 years, 50 years, a hundred years, or 500 years, those are the, pretty much the common delineations that FEMA uses. It is the possibility and propensity for it to flood. Now, the reason that's important is because if you're in an area that has that and it's less than a 500 year flood zone, you may be required to get flood insurance if you buy property down. Or if you park on the side of the road, okay, you may come out one morning and find out that that basically you're you're gonna swim out to your car instead of walk. Yeah, so you needed to look at that, check out the flood zones, and again, as Sue said, if you have any questions about it, definitely let us know. It's something that we've become very familiar with. Something we deal with all the time, especially when we're looking at beachfront property for clients that are coming in and those that are from outta town. Okay, so good question. Su okay. Does South Florida really have that many hurricanes? If you'd asked me this question five years ago, I probably would've said, Oh my God. Yeah, it does . Especially because one of the first, within a year of us moving down here, we ran into Hurricane Irma. Now Hurricane Irma, for those of you that remember, basically came shooting across the south. Okay. And everybody here in South Florida from basically the homestead all the way up to West Palm Beach, we are bracing to get whacked. Okay? And much like everything else that goes on, it's unpredictable. The weather itself was unpredictable and basically, fortunately we didn't, but unfortunately the keys got smacked and it swung around and smacked all of our neighbors and friends over on the west coast of Florida, around Naples, Fort Meyer, Punta Goda got hit and then it took off into the keys and took off into the golf and did a lot of other. But I kind of digress. One of the other questions that we get a lot is like, how do you prepare for a hurricane if you are maybe not a native? Yeah, so basically Florida has designated the months of June 1st through November 30th, as hurricane season. That's basically when the storms themselves historically are the most active and more often what you, we see the majority of 'em come through in. A September timeframe. And there's a lot of things that you can do that that kind of help out with that. Number one is make sure that wherever you are, okay, that you're at a good elevation. And if you are west, if you are east of what we call federal highway, and for those of you that are from outta state, basically it's Route one. It's that same little road that runs from Canada all the way down to Key West, right? Everything east of Federal Highway, when there's a hurricane evacuation warning, you either gotta take off and evacuate. Be prepared to not receive any services. Now, what I mean by that is if you call nine one one or you call somebody, they're not coming, they're gonna let you know that basically it's time to go and you didn't go. So they're not gonna come. Now, there are all kinds of things you can do. There's hurricane impact windows you can put on your homes. There's hurricane shutters you can put up, there's accordion, shutters you can put up. There's sandbags you can do, but the best thing that you can do is basically be. And plan for it. Now, I've said this before and I'll say it again, it never ceases to amaze me and surprise me that regardless of where you are in the country now, I've lived everywhere from New Jersey to Virginia, to Florida, to Georgia, been all over the world in a previous life. It doesn't matter where you are, if there's a storm coming, everybody runs the grocery store and gets. Milk, bread, eggs, and toilet paper. . It could be. It could be a blizzard and water and no, they don't Let me get water. There's tons of water. It could be a blizzard. It could be a sandstorm. It could be anything. It could be a hurricane. Those four things are gone first, so Yeah. But yeah, you need to be aware of it. Okay. And Florida has done wonderful job over the past 10 years of making sure that they make everybody aware of what's going on and what's happening. So yeah, so I would. Definitely. That's a good question to ask. It does raise some concerns, some of our folks from OUTTA state and from out of the area. Okay. Another question is South Florida really as. Expensive to live in. It's funny because my perception of living here in South Florida is that basically you really had to be a millionaire to live in paradise. And I was always hoping when I was younger that I could hit the lottery and get enough money to come and move down here. But you and everybody else, right? Yeah, me and everybody else. But one of the things I realized when we first, we moved down here is that there are a couple of things that makes Florida and South Florida in particular a bit more affordable. Number one is that Florida has no state income. Yep. You heard that right? No state income tax. It's one of the seven states in the country that don't have a state income tax. That's almost kinda like getting a pay raise. In fact, one of our friends from the move from New York told me that that he's a high net worth individual, so I'm not gonna say his name. But basically for him to move to Florida and become Florida as principal residence, he was saving upwards of a hundred thousand a year in state income taxes. So New York, as everybody knows, it's very high taxes, as is California, especially Los Angeles, but there's no state income taxes here, so it is a very affordable place to live. The other thing is that Florida, South Florida, especially the area that I'm talking about is ba, the three counties, Miami-Dade. In Palm Beach County, it's about 120 mile stretch on along the east coast of Florida, southeast Florida. It's basically called the Treasure Coast or the Gold Coast. , the reason they call it that is because it's, it has the gross national product of those three counties is about 365 to $400 billion. Now, to put that in perspective, that's bigger than in some countries like Chile and Israel and a couple other countries. I think even Taiwan isn't quite that high yet, so yeah. So there's a lot of things going on down here. , there's low unemploy. There's very strong economy down here. If you're looking for a job, come on down. There are jobs to be had down here, not just in the tourism industry, as we mentioned, and the area's open and has been. Oh yeah. And we've seen a lot of that based upon the changes in people tastes as far as what they wanna do during the pandemic. So a lot of folks are able to work remotely, have made the trip down here just to take advantage. And they found out that, hey, it's a great place to be. It's not as expensive as I thought. Okay, so I'm gonna hang out down here. Now that all being said, you gotta take the good with the bad. Florida does have a little bit higher state taxes than some of the other areas. And it's certainly not as cheap as living in Oregon or I think it's Montana and what is it, Delaware. None of those have state sales tax, but our sales tax is probably about number six, between six and 10, all the states. So it's a little bit higher than some, but not nearly as high as other ones. I think the last time I checked our total, this total state and local. , you pay about 7%. Now, that's not across the board. Some of the stuff is not taxable. A lot of groceries aren't taxable. Medical expenses, medical supplies aren't taxable, but it is an affordable place to live now. FairWarning, especially with the way the real estate market has been recently, the most expensive aspect of living down here is going to be your housing. Okay. But what coming down here is you'll see an appreciation in your housing values very quickly. The other thing it's gonna cost a little bit more down here is food and groceries. Okay. And it's just because there are some inherent taxes that go in there. Now, I read somewhere that Florida has the highest tax on internet. And cell phones of any state in the country. And our, the tax that's being charged now for gas isn't exactly on the low end. On the flip side, given to this great weather out here, and also to some of the fantastic healthcare facilities down here, the cost of healthcare and the cost of basically, some of the miscellaneous costs are actually lower than a national average. So all in all, no Florida is not out. Outrageous, South Florida is not outrageous to live, to cost of living to live here. Okay. Just like anything else, do your homework. Make sure that it's what you're looking for. Make sure that you can get what you're looking to get and I think you'll find it. It's very reasonable overall. And one offsets another. True. Very true, Sue. And one of the number one questions we hear all the time, how are the schools in Florida? It's almost like a catch 22, because depending upon who you ask, okay, you're gonna get, you ask five people, you get five different answers. What we've been. Is that there are some very good schools here in South Florida, and there are some also not so good schools. A couple of the areas that are very good are some of the areas up in Voca, I believe. Spanish River. I've heard it's good. One is a very, very good school district. Some of the other ones may not be good, but one of the things that Florida has, I think that's, that really surprised me, is they have these schools called charter schools and called Magna Schools. Now, when I was a kid back when we using Slate and Chis. To do our homework. We didn't have magnet schools. We didn't have charter schools, but we did have, basically the public schools. So with the charter schools and the magnet schools as an option, you can see a lot of good options for basically all types of education needs. The other thing is that I noticed they also have those inter, inter baccalaureate. Oh, that's right. The international Baccalaureates. . The other thing I found out in talking to some folks, some friends of ours from New York, is that even the private schools down here and the private univers. Are far cheaper than those up in New York and out in Los Angeles. And that just not coincidentally is where we seem to be getting the most of the folks coming down, coming here from New York on the East coast. And we're getting a lot of folks coming in here from la and you're getting a lot from Massachusetts and some from Vermont. Now. That's true. Obviously a lot from Canada. But the lifestyle, you can understand why. Definitely. So the short answer is there are some very good schools and there are some schools that can present a little bit of a challenge. You can use a little bit of a help. But again, give us a call if you've got any questions. We'll be happy to help out, happy to point you in our direction, and there's all kinds of great stuff on talking to when you go out and have a conversation with Mr. Google. Another question is there more things to do than just go to the beach? Actually it's funny that question was asked because when we first moved down here, we thought we were gonna be going to the beach every single weekend. And for the first couple of months we were down here, we did okay. . After a while, we got to be, we started to finding other things that were going on, the things that we saw going out. So yeah, the short answer is yes, there's a lot more things to do other than the beach. Now that's not to do anything to discount the world class beaches and world famous beaches we have done. Everything from South Beach, which everybody's heard about in Miami Beach, going up to Deerfield Beach, which is a certified blue wave beach going up to Pompano Beach at the Pompano Beach, going up to some of the beautiful beaches up in Palm Beach County like Boca. Boynton Beach, Delray Beach. But yeah, there's a lot of other things to do here in South Florida. There's all kinds of great things you can do. I Some of it's speech related scuba diving, snorkeling. Kayaking, wind skiing and windsurfing and stuff like that. And fishing. Oh, definitely. It's this place down here if you like fishing, especially deep sea fishing. This is a mecca for deep sea fishing. You can basically go out at any point from any point along 120 mile stretch of South Florida. And you can be out to where there are some great fishing spots within an hour. And you can catch your fill and be back in time for dinner. Leave right after breakfast, catch your fill, be back in time for dinner, and in most places now they'll set it up so that they'll actually clean it and wrap it for you so you basically can take it home in time to cook for dinner. Wow. That's true. And a couple of the other activities that are very popular is tennis. A lot of famous tennis players that come from this particular area. Good point. And all over Florida. Good point. Victoria Park is home to Chrissy Everett Lloyd. And it's a lot of stuff down there. The other thing is that golf is huge now. I was gonna say golf. Yeah, I'll mention golf, but then again, I mention it with smile and a smirk on my face because those of you that have seen me attempt to play golf, know what I'm, talk exactly what I'm talking about. And to my kids out there. Stop laughing. Stop laughing now. I'll hurt you when you, when I see you. No, in all serious, just I try to play golf. Basically, to me, what it is that I run around with a beer in one hand and a club and the other, chasing a little white ball. I can think of it as basically playing polo on two feet. But yeah, golf is huge down here. There's also a lot of other things. I'm a huge sports fan, so And so coming down here you have Miami Marlins, you had the Miami. The Florida Panthers hockey team, and for those of you like me that follow college sports, University of Miami, hurricanes not the only hurricane in town. You also have a lot of professional players that have come from South Florida. True. You have a lot of those sports, those little sports academies that basically churn people out. So you see a lot of that coming down there too. So you have this, they have those, and there are a lot of things that are going on down here. There's all. Cultural activities. There's some great museums down here. There are some wonderful old homes and old areas that have been built up. Go check out Cooley Hammock. Go check out some of those areas down there where there's some wonderful homes and stuff like that. Another frequently asked question is, So I'm thinking about moving to Florida, which is better for me. Should I move into a single family home, a town home, a villa, a condo? What are the pros and cons, Which is best and which would be more affordable? You know what, su that brings up a good point. So we get a lot of folks asking us out. The other thing they wanna talk, they ask about is, what's this about? Airbnb and B R B O. Oh yeah, that's another one. Okay. So basically, so I'm gonna try to, I'll try to bring everything together and I'll try to keep it short and somewhat sweet. So as far as what type of. You should be looking at, be it single family, home town, home villa, or condos. Let's talk a little bit about those single family home. Everybody knows what that is? . Okay. Basically it's a house sitting on a lot. Okay. Villas are a scale down, single family home and you may or may not be adjoined with somebody else. And the benefit to that is you of share in the, some of the maintenance expense, seeing your family home, basically you're on your own. You gotta repair your roof, you gotta repair your roof, cut your grass. You cut your grass. Now you can get folks to come around and. But you're responsible for it. So what's the difference between a 55 and older community? Yeah. 55 and older communities, basically. , as a result of an act called Housing for Older Persons, Act 55 and older are communities that basically, not only do they not discriminate against people over 55, but they actually have bylaws and uh, coils and whatnot to make sure. People yet that you have to be over 55 to live there, and they're looking to basically make sure that people are not getting a raw deal on a property. They're usually very well maintained. Very well managed. But anyhow and those fit over 55. They can be anything from condos, which everybody has, what a condo is, to villas, to single family homes. Now, one of the things that people have been asking about lately is our V B O and Airbnb. Now, V B O is basically vacation rental by owner. And Airbnb is basically the same game, the same tune by another name. But here's the challenge down here. Florida for so long, having gathered most of its revenue coming from the hospitality industry charges a hospitality tax. And certain areas for to do that are zoned. Those are certain areas that are called short term rentals, STR for short. Okay? And what those really are rentals. They allow people to rent for less than 30 days. Most condo associations, homeowner, associa. Or anything else, and especially most zoning is around, they limit the amount, the number of rentals per year or They limit the length of time that you can rent usually by shortening it. Now, are there people who don't care about that? Yes, there are. Are there challenges in doing that? Yes, there are. Are there penalties and damages for getting caught? You bet your butt there are. And those penalties and damages could be as much as basically being kicked out of the community Funds to go through and do that are. Exponentially greater than whatever short term revenue you're gonna gather from there. And then there are places that our specifically zone for that, if that's something that you folks are interested in. We actually have a couple folks that are coming down from, ones coming down from Kansas City, Another group is coming down from Massachusetts that are interested in looking at short term rentals, and we're gonna get some things set up for them to go take a look at. That's a whole different thing for a whole different video if you're in. Let us know. Let us know. But basically, whatever's best for you is really what do you wanna do with your spare time, right? And if it's a, if you're gonna be living here full time or if it's a second family home, and also you need to look at your budget. True. True. Because basically, whatever it is that you want, do or don't wanna do, you can always pay somebody to do it, okay? But what you wanna make sure of is that it fits into whatever lifestyle that you're going to do. So if you have any questions about it, please feel free to let us know. Drop a little note in the box below, we'll get back to you straight. Yeah, so there's a lot of places down there. Now the other thing that I thought was cool is, and soon as you reminded me about this a couple days ago and what was that? That was about the, I mentioned kinda about hockey and stuff like that. And you mentioned the fact that we hadn't been out to check out the Panthers stand, which is a, basically a huge ice rink out in cor in Western Coral Springs. Now, if somebody told me that I could go to the beach and basically sweat my brain's out during the, . Okay. And then go in the afternoon and go jump go ice skating and stuff like that. I have thought you were nuts. They also have local teams teams for the kids. This is true. And those training to become, with the ice skating. Yeah. And then the other thing is that there's a couple of things are going on. Many of, most folks that most of you have probably heard about Hard Rock, while the Hard Rock a casino was just one underwent a multimillion. Multi-year renovation, it's called. Basically they refer to it as the guitar hotel, and on a clear night, basically from anywhere in South Florida, almost anywhere in South Florida, you can see the hotel if, and most definitely see the lasers that go up in the air that make up the strings on the neck of the guitar. So that's cool. And then most recently, There is going to be a big multiyear multimillion dollar renovation of the Isles Casino. Now this used to be a harness racetrack in a small casino. Caesar stepped in and took over the casino and they're gonna double the size of the casino. They're gonna put in some a lot of st a more parking. They're gonna add a bunch of rentals, rental properties, and even condos that you can buy that are gonna be luxury condos. And rumor has it just going to be, Five acre crystal clear lake that you can swim in and they're also going to be able to have fish and some other kinda marine life in now. I'm really psyched to see that, to see what's going on there. But again, there's all kinds of things you can do down here. That's not the only area. Coconut Creek has a big uh, casino as well. That's true. Great steakhouse. There, and we can't forget about the butterfly world of Coconut Creek. It's the largest indoor butterfly park in the world. At last time I heard there was like 60 million butterflies inside. This place is walking through and it's like super, super relaxing and super, super cool. So check out our videos on Coconut Creek to get more on the Butterfly World in Coconut Creek. But again, sus, there's a ton of things to do out here more than just going to the beach. But then again, you know when all of your friends up north are basically freezing their ka UBIs off in January and February. There's nothing better than sending somebody a text from the beach as you're going out to laying out and basically saying, Oh no, I've gotta put some more sunscreen on someone, some more sunscreen on before I catch a burn. Get it, Catch a. What about public transportation? What is available in this particular area? Oh, public transportation coming from northeast Georgia where basically you had Marta and you had a bunch of buses and everything else. I'm gonna kick, kick Uber and Lyft out of this for a second. Public transportation down here is a little on the wanting side. You have train system that runs basically from Miami Airport all the way up to West Palm, which is great, but there's basically, there's not a whole lot of. That are off track. So if you're going from Pompano Beach or you're going from Fort Lauderdale or from Boca or someplace close to the tracks down to the airport, it's a good deal. Okay. They have a bus system down here and we've seen, it's bct, Broward County Transit. But they've run into some challenges lately and they're not running as frequently as they do. It's one of the cool, most coolest things though, about public transportation or quasi public transportation, if. Because when you get into some of the beachy areas, like around Ladale by the Sea, or Pompano Beach, or even Fort Lauderdale Beach, there are a lot of folks that are being a lot of kind of entrepreneurs who have taken upon themselves to have six and eight seat golf carts. And then for a couple of bucks they'll pick you up and they'll take you from place to place, bar to bar, whatever you want to do. And it beats a heck driving around and getting a dui, but it also makes it a whole lot easier to get around because Basical. You can let those folks do the drive and you can sit back and sip your favorite adult beverage and check in the scenes and the sites. Another thing is the water taxi. That's another That's true. You know what? That's a good point. Yeah, that's a good point. They have this very cool thing called the water taxi. Now, this is probably one of the greatest inventions probably since since tequila. And what it is basically up and down the inter coastal waterway for anywhere, everywhere from Hollywood, going all the way up to Deerfield Beach. You basically ride this boat that basically, and there's somebody telling you. Cool things that are going on. You get to see all this great neat information, these great, neat places. You get to see the, where the beautiful people live, and you can do it all while watching it and catching some rays and watching it from the water. It gives you a whole different perspective rather than just driving down the front, driving on the road right, and seeing the houses. Where people are basically hiding behind bushes and shrubs and stuff. And if you've got a guide, he will describe the property, tell you a little bit about the details. Also with the water taxi, there's a variety of different boats you can get on and off, as many stops as you wish throughout the day. Definitely. That's a good point. That's a very good point. Su a lot of people ask how fresh is the seafood? Where do you get the seafood? Oh my goodness. How can we forget about that? It's something we get basically every week. Now, I'll tell you the seafood down here there's seafood. Now nothing beats going out and catching it yourself. But then again, I haven't really gone out and caught any mahi in a long time. That would be like never. But there are a lot of place, a lot of specific seafood places, seafood markets that go out there. But even the local supermarkets like Publix, you can go in there. I got some, we got some very tasty maji Ma. Not too long ago I saw a wild caught shark that was there. You got the fish peddler, you got the fish pedler, you got the fish market, you got papa's fish market. There's all kinds of great places. Oh, and another thing is, which is nice if you take a charter, if you're gonna go out for deep sea fishing, many of the places, if you pull up to a restaurant and they will prepare for you. Good point. Yes, they will. Especially those our friends over at shooters right down off of the intercostal waterway. Yeah. So again, hopefully you guys, if you all have found this interesting and formative if you do, we hope you'll consider subscribing and click the little bell so you get notified every time we drop a video because we wouldn't want you to miss the video. Exactly. And until next time, thanks and thanks until next time and we'll see you.  

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Why People are moving from New York to South Florida in 2022

Just recently a lot of people have been moving to South Florida. Specifically, people who are moving from New York to Florida. Are you thinking of moving from NY to Florida? If you're planning on relocating to South Florida and you want to have an Idea about life in South Florida and want to know the REASONS why people move from New York to Florida, then you're in the right place! Why people are moving from New York to South Florida in 2022. This isn't anything new, it's just that we've found it. There are more and more people. This year and in the past couple years that have been moving down to South Florida, and we're gonna give you a couple of reasons why. And a lot of it has to do with the pandemic actually accelerating a lot of the moves. If you're interested in why so many people are moving from New York to South, Florida stick around. What's up folks? I'm Kev. And I'm Suze. This is Living In For Lauderdale with Kevin Sus, welcome back to our channel. We're glad to see you. All right. If it's your first time, welcome to the channel. Yeah. We're local realtors and as much as we love making our videos and we do, and we re we do, we really love even more helping folks make decisions about whether or not they should relocate and move just out Florida. And if. Where should they move to? If you've been asking yourself why folks have been coming from New York down to South Florida, especially in 2022, stick around. We're gonna give you the reasons why. Now, Florida as a whole has been seeing about a thousand residents from New York almost on a daily basis coming down here to South Florida. And some of the reasons why are the age old reasons why folks have been coming south. It's the great weather, it's lower costs, and it's basically they're geared towards retirement. There are also a lot of other reasons that have just come into play recently that are really causing a lot of folks to come down here from New York specifically. Florida, it's really intensified during the pandemic and actually a couple of the years before the pandemic. It's not just a good weather that's caused that happen. What you're seeing is a lot of changes in some of the financials in and around New York are causing it, and also Florida and South Florida especially, is really making a very aggressive bid to have folks come down here and relocate down here. Not just for the high scenes and not just for the vacation homes to actually become permanent residents. The real estate market is one of the reasons the overall economy down here and the employment climate are other reasons why folks are going down there. So we're gonna go ahead and give you some more details on that and some of the housing costs and the rental costs compared to New York. Now we do have to say, and I know it's not just weather, but look around you. It's 80 degrees today. It's February 24th and it's 80 degrees. How can you go wrong? And it's sunny and we're sitting by the. Really, and having to put on sunscreen in February really isn't a bad thing, is it? No, it's really not. Suze, we've sent us on videos before, but it's worth mentioning again and again, Florida resident. They don't pay state income taxes, and that's a huge thing when you're coming from a state, especially like New York that has made changes in tax structures and changes in the taxes. This is becoming very big thing for a lot of folks. They're just tired of giving away their money for taxes. I read somewhere that if you're making a million dollars in New York, you can be paying upwards of $130,000 just in state and local income taxes alone. Wow. Even if you're making a million. $130,000 that you're not paying to the state. That may be the difference between whether you buy a condo on the beach or whether you buy a big single family home on the beach or on the inter coastal waterway or habited pool in your backyard. And as I said before, South Florida has been increasingly aggressive on trying to get higher net worth individuals and businesses to come down here to keep the climate going. I think soon, as we said in one of our other videos I read in Florida Trends Magazine, that the 120 mile stretch that basically makes up South Florida, which is Palm Beach. Broward County and Miami-Dade County. The gross domestic product of those three counties alone is like $365 billion. To put that in perspective, as you said before, that's the same as countries like Chile and Israel and Turkey. There's a lot of money down here and there's a lot of money to be made. There's a lot of money to be had coming down here. And if you can come down to an area where you're not gonna be paying as high as state income tax or local income taxes and possibly if you've got remote working. Exactly. If you think about it, where would you prefer to? Would you prefer to work in your sunny backyard or inside where it's cold and you can't go outside and it's snowing and here it is, and look at it. It's beautiful today. So now I'm gonna call on some previous history of being an accountant to go through with this. It's a little tricky so far with. Me on this. In 2018, New York enabled what they call the Tax Cut and Job Act, and basically what it did is it changed what you could deduct on your taxes from your job, employment expenses and whatnot. It really took a bite out of some of the higher net worth folks. Basically, you can still recover a portion of the taxes. It used to be that you could write off a portion of your state income taxes if you lived in a state where you pay state income taxes, you could. Portion of that on your federal income taxes. And 2018, that changed. What it really did is since New York was such a high state income tax area, there were a lot of folks that kind of got a benefit, if you want to call it a benefit. Yeah. Really benefit. You got a little bit of a benefit for being able to deduct some of your state income taxes. Off of your federal tax return. In 2018 that changed. So that kind of put things in perspective. You were also able to deduct some of your local taxes too. And that also changed in a nutshell. And this is no offense to any of our friends and our family and our colleagues. Our relatives that still live in the New York. Okay. Or New Jersey. Yeah. Or New York especially. But it's really made it a lot more expensive to live in New York. And let's face it, some of the weather that's come up recently in New York, there was a massive, nasty snowstorm. Not too long. So again, if you can find somewhere where you can go pay less taxes and you can enjoy the outdoors a lot more, it makes sense as to why a lot of folks are coming from New York down here into South Florida, or enjoy the weather year round. One of the other reasons that we noticed, and from our perspective and also. To folks, it's probably one of the most important reasons is that it's no secret New York and New York City especially, there's a lot going on. There's a reason why they call it the Big Apple, and there's a reason why they tell you that basically it's open 24 hours a day. There's something happening in New York all the time, and a lot of folks, they get so used to living that lifestyle, which is a terrific lifestyle. They do have a lot of. Cultural activities, but South Florida has as many as well. Exactly. So what you do is when you come down to South Florida, especially areas like Miami, like Little Havana and Miami, you go out towards the a deco areas of Miami, Fort Lauderdale, walking down Los Sos Avenue. VCA Raton. While they may not be quite as lively and robust as New York City is, because quite frankly, in all the places I've ever been in, That includes foreign countries. I've yet to find a city that is actually like New York. It's no other place in the world. I can say that coming from cities and personally have been on six of the seven continents. So I have little experience to draw from, but there's something for everybody down here. And for a lot of folks, that's an important thing. It's very difficult. From the folks that we've talked to coming from New York City, especially if they're coming from like Manhattan or they're coming from the Bronx or the Queens Or Long Island. Long Island, Exactly. We have some very good friends. That kids came from Long Island. Yeah, you got a couple of friends. Yeah. But it's difficult for them to make a transition into areas even in central Florida like Ocala and Orlando, where the, And nothing against Orlando, but the primary attraction is Disney World. And even that does get old after a little while, having an area that is diverse culturally and also lends a lot of different things in there New York did. They're all within a very short distance. Going from Boca to Miami is an hour drive. There's all kinds of stuff you can go and places you can stop, and Fort Lauderdale being smacked in the middle of 'em makes a great stopping point if you want to go out and experience a little bit of everything during the pandemic, which actually caused a lot of people to actually reevaluate what they're looking for in their home. And I'm. Guilty of this too. My home office consisted of me putting a laptop up on a kitchen table so that I could look over the top of the laptop and I could watch tv, watch the news, and see what was going on. But with the pandemic and spending much more time at home and not being able to go out and do things, that's changed things a lot. People are now looking for homes and looking for places to live that can actually support a more home based lifestyle. They're also looking for not only indoor but outdoor lifestyles as well. And you can find many homes here with pool. That have Fantas for, you've got an outdoor living space, so now you've got indoor and outdoor year round here in South Florida. Candidly, as everybody knows, for what you pay for a thousand square foot condo up in Manhattan, you can in many cases get yourself a nice four or five bedroom, single family home, even on the water down here in some of the areas around here. If ocean front living isn't necessarily your cup of tea, or you have some of the communities like Parkland and Coral Springs, which have large single family homes on large. That are still very reasonably priced and give you a lot of land and a lot of home for your money. Oh, and it may be on a canal or you may have a lakefront, which is extremely nice. And if you have a home that's on a lakefront and you're interested in fishing, you know that's available right at your back door. That's actually a very good point. But basically even with all this craziness is going on in the real estate market, Florida is still for the most part, and South Florida to a certain extent. When you start getting into the higher, over a million dollar homes, it's still some of the lowest cost per square foot of some of the luxury homes anywhere in the country. And in many cases, you can find yourself with a very nice home or a very nice condo on the ocean where you can wake up every morning to get watching a sunrise, drinking your favorite coffee, or you can have a very nice, enjoyable evening with a sunset enjoying your dope beverage, or having a nice barbecue or something outside, or many of the country. To offer happy hour and you've got activities and communities. Not to mention that there's year round activities for children, and not that this is necessarily a dig to all my friends and family that don't live in South Florida , but I will tell you how many pictures and how many photos have I sent to you guys from us grilling by the pool on Christmas or on New Years. Or even on Valentine's Day, for those of you that live up in Chicago, live up in Montana, live up in New Jersey and Pennsylvania. Cause I know you guys are freezing your buns off and I'm flipping stakes in a tank top and a bathing suit. Ready to go. Jump in the pool. Don't forget the fish and the shrimp. And all of the fresh seafood that's available. I'm more for the seafood. Exactly. And I'm not saying anything, but you know what I'm saying? Yeah. You're a meat guy. One of the things that I thought was very interesting, we had a client that was contemplating moving down here from Manhattan down. Florida, they were going back and forth. She had an older son who had just graduated from law school and was looking to get a job with a law firm down in Miami. Congratulations. He did. Excellent. And she also has a son. They were looking for certain things from a school perspective, and he was a high school age student and she was very concerned about the schools down here and as well as the universities. When I went back out and did a little bit of a digging around, a little bit of analysis, most of the private schools down here in South Florida are on par or better than some of the premium schools up in New York City and actually some of the colleges down. Florida Atlantic, University of Miami. . Some of those are on par with a lot of the colleges that are up in New York. You can get a lot of bang for your educational buck down here too. That's true. With the cost difference. Yes. So it's amazing. Sorry folks. I just saw an iguana sitting over there that was moving down the road. It took my attention away from everything for just a second. While some New Yorkers referred to go. A little further west out towards Vegas or Phoenix, and we have some friends actually that went out towards Phoenix. Lot of the people that I work with actually has a friend that just moved to Phoenix, and a lot of folks have found that between a time change, the time difference and the distance itself, it makes it rather difficult to get back to visit friends and family. Here on the East Coast, that's one of the things everybody thinks about is proximity to family. On a personal note, we moved here from Northeast Georgia and after our kids got older and they move. We actually had to pay sometimes to fly them back down to see us in northeast Georgia. Now, not that it was a problem, but it goes to illustrate a point I'm gonna make now that we're down here and we live close to the beach, the kids come down all the time and they're not even asking us to pay for them to fly down anymore. They're more than happy to come down, Hey mom, Hey dad. Can we just come down and hang out with you guys this December and I'm freezing my buns off up in Ohio. Even our relatives, we have relatives that live up in Montana that are looking forward to coming down and visiting us during the Sun Spring. Because at last check today it's what? Zero In Montana? Yeah, it's zero in Montana. Yeah. Sorry Dennis, but I know, man. I know. You gotta be freezing your buns off . So a lot of our friends that are from New York, they know a lot of people already, or they've got family and friends down here. And have a great connection. That's an awesome point, Su it's almost like they have a built in community down here. They come down here so frequently visiting other folks or on vacation that actually begin to know people and they begin to have almost a second family down here, which also makes a transition coming down here even easier. Where's one thing that we did forget about the location of three of the different air. Works. Oh, it's true. Within roughly a hundred miles of each other. Going straight up the coast, you have Palm Beach International Airport in Palm Beach County, West Palm Beach, which is the most northern airport, international airport in South Florida. Then you have Fort Lauderdale, Hollywood, right outside of Fort Lauderdale, and then you have Miami International. Now, the cool thing about that is that. There is a tri rail system that basically, for those of you from New York, it's like the subway. It actually goes all the way above ground, not underground. A tri rail system that can actually take you from airport to airport. It's very reason priced. You jump on it at one airport and you get out to where you're gonna go, and you can pick up an Uber, you can pick up a taxi, you can have friends, family meet you at one of the tri rail stations. We've actually used it and it's great. It was very comfortable and very convenient. Oh, and the seating is very nice. Hopefully you found this interesting. You found it informative and you found it. Enter. If you have, we'd appreciate it if you would consider subscribing. After all, it is the cool thing to do, and that way you get notified every time we drop a new video. Until next time. Hey, thanks. Thanks. I will see you later.

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