Interesting video on new Florida condo laws

Started by SheliaH • 4 replies • 186 views

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SheliaH (Indiana)
Posts: 6,964

Posted:

There have already been several conversations on new state law requiring engineering studies for buildings 30+ years old and over 3 stories high. I don't live in a high rise condo but find these conversations interesting because I suspect dome 9f these ideas will be heading to other state legislative bodies.

Anyway, a video popped up on my YouTube feed this morning (along with one on Chinese vampires, be ause 8ve looked at several mythology videos lately). This one discusses the Florida condo market and the new law - I couldn't figure out how to copy the link, so here's the title and you can do a search and then view it yourself:

Florida Condo crisis - no one wants them, not even the owners.

Watch this to the end to hear the part about sellers being required to provide a copy of the engineering report to potential buyers

If it is not right do not do it; if it is not true do not say it. Marcus Aurelius

CathyA3 (Ohio)
Posts: 6,299

Posted:

I hope this is the correct link: https://www.youtube.com/watch?v=jReoFl18v0k

Florida condo owners are getting hit on all sides lately: aging buildings, increasingly damaging weather, and insurers pulling out. I spotted another video about all of the vacant condos in Naples. I'd be really concerned if the investors aren't snapping up properties - that suggests something beyond normal ups and downs in real estate markets.

ElleN (Idaho)
Posts: 4,420

Posted:

Quote:

Posted By SheliaH on 06/30/2024 7:24 AM

Florida Condo crisis - no one wants them, not even the owners.

https://www.youtube.com/watch?v=jReoFl18v0k

11:42
Many many condos on market; 85% increase in number of listings from last year.

But prices have not dropped [ElleN comment: knock on wood?]. They are even up a bit.

I recommend reading the comments on the video.

CathyA3 (Ohio)
Posts: 6,299

Posted:

One thing I noticed was the comment that the presenter could hear her next door neighbor talking on the phone. Noise will travel up and down even in well-constructed buildings - but you shouldn't be able to hear much from a neighbor beside you unless they're being noisy (loud music, wild parties, arguments, etc.).

The comment suggests that the condo she lived in wasn't very well built. And a poorly built structure will deteriorate faster, regardless of how well it's maintained.

I've mentioned before the irony of first time buyers seeking out condos, since condo ownership is more complicated than owning a single family home outside of a community association. They're not just buying a home, they're becoming business partner in a corporation. It's hard enough to learn the ropes of home ownership. I think it's unreasonable to expect buyers to master the details of business ownership on top of it.

And then we're shocked when people make a hash of it.

ElleN (Idaho)
Posts: 4,420

Posted:

Quote:

Posted By CathyA3 on 06/30/2024 10:20 AM
One thing I noticed was the comment that the presenter could hear her next door neighbor talking on the phone. Noise will travel up and down even in well-constructed buildings - but you shouldn't be able to hear much from a neighbor beside you unless they're being noisy (loud music, wild parties, arguments, etc.).

This is interesting. I have lived in three "units" that had shared walls, but no one above or below. For two of them, noise and cooking odors from adjacent units were (are) near minimal. For the latter two, metering for everything (water, electricity, gas) was done individually (no shared utility bills). For one of the units, I could smell all manner of cooking and hear a lot of noise from my neighbors. The water bill was shared. For the latter one and based on general observations and maybe the fact that the complex was originally built and used as apartments for about ten years, I always felt the construction was cheap.

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