LIV South Florida
LIV South Florida
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FLORIDA CONDO CRISIS: An In-Depth Explanation (WHAT YOU NEED TO KNOW)
FLORIDA CONDO CRISIS: An In-Depth Explanation. Florida’s condo market is facing its biggest shake-up in decades, and over 1.5 million Floridians are feeling the heat. Following the tragic 2021 Surfside condo collapse, new safety laws now require mandatory inspections for older buildings and stricter reserve fund requirements to cover major repairs. While these changes aim to improve safety, they’ve led to skyrocketing fees, massive special assessments, and financial strain on condo owners, especially retirees and those on fixed incomes. In this video, we break down why these laws were introduced, how they’re impacting condo owners and the real estate market, and what Governor DeSantis is proposing to ease the burden. Whether you’re a condo owner or thinking about buying in South Florida, this is your ultimate guide to navigating the condo crisis and protecting your investment.
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🏡 MUST WATCH South Florida Videos 🏡
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🔔 Don't forget to subscribe for more updates on real estate, lifestyle tips, and everything you need to know about living in South Florida!
👍 If you found this video helpful, hit the like button and let us know in the comments: is the homeowner insurance crisis affecting you?
Looking to move to South Florida? Jonathan Alexander and the team at LIV South Florida are here to assist with all your real estate needs. Feel free to reach out via text, call, or Instagram DM @mr_jalexander. Whether you’re buying or selling, let’s talk strategy!
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MORE RESOURCES:
🆓 FREE Buyer Guide: bit.ly/3ze35Ht
🆓 FREE Seller Guide: bit.ly/3Tl9sQe
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⏰ Timestamps:
00:00 - Intro
00:55 - Why Did Florida's Condo Laws Change?
02:38 - What Do These New Laws Require?
04:49 - The Financial Fallout: Special Assessments and Skyrocketing Fees
06:18 - Evacuations and the Condo Shuffle
07:21 - What’s Going on in the Real Estate Market?
08:22 - Governor DeSantis Steps In: What’s Being Done to Help?
09:53 - The Challenges Ahead: Special Session or Not?
10:40 - What’s Next for Florida Condo Owners?
Disclaimer: I am not a lawyer, CPA, or financial advisor. The information shared in this video, as well as in any of LIV South Florida's content, reflects my personal opinions and is intended for entertainment purposes only. I am a licensed Florida Realtor (SL3122005) and can provide guidance on buying or selling real estate within Florida. If you're outside of Florida, I’d be happy to refer you to a qualified agent in your area. Please do not make any real estate decisions based solely on this video. Always consult with a licensed professional, financial advisor, or attorney for specific advice tailored to your situation.
Disclosure: This post may include affiliate links. I only recommend products or services that I personally use or trust. If you choose to make a purchase through one of my affiliate links, I may earn a small commission at no additional cost to you. Your support helps grow this channel. Thank you for supporting my work! amzn.to/3OUR4e7
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#floridacondocrisis #southfloridarealestate #floridacondolaws
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ความคิดเห็น

  • @lynwill9946
    @lynwill9946 17 ชั่วโมงที่ผ่านมา

    Desantis 🧐 yet folks reelect this fool

  • @Matrixvsreality
    @Matrixvsreality วันที่ผ่านมา

    I live in a beautiful small town in Florida. There are beautiful springs, wonderful wildlife preserves and the ocean is only about 30 mins away. Im only an hour from Orlando if I want to partake in theme parks, concerts etc. the biggest downside, for me personally is the heat from June through November, I 4 traffic and home/car insurance. Nonetheless, for me the good outweighs the bad and I can't imagine living anywhere else honestly.

  • @BendelsEnterprisesInc
    @BendelsEnterprisesInc วันที่ผ่านมา

    FL is TRULY A GREAT PLACE TO LIVE IF YOU ARE AN ALLIGATOR! SUPER HOT, SUPER HUMID, VERY EXPENSIVE, NOT MUCH TO DO AND DEADLY HIGHWAYS FULL OF DRUG ADDICTS, ELDERLY AND FOREIGNERS NOT USED TO THE BIG HWAYS. I LEAVE FROM JUNE TO OCTOBER, ITS UNBEARABLE

  • @happyretired-m1x
    @happyretired-m1x วันที่ผ่านมา

    I used to live there in 79 on Montauk.

  • @angelarich8455
    @angelarich8455 วันที่ผ่านมา

    I hate insects so idk about moving to Florida lol

  • @PhoenixHonka
    @PhoenixHonka วันที่ผ่านมา

    good info. I would add that the Oligarchs (Rump and pals) are instigating the us vs . them mentality. its the fascists' playbook. the real enemies are the Oligarchs, you know, the super rich and the insurance co who won't pay claims.

  • @WildHorses9958
    @WildHorses9958 วันที่ผ่านมา

    Why? Because at the end of the day, it's just another shitty red state! 😂

  • @junefoster2113
    @junefoster2113 วันที่ผ่านมา

    DeSantis 😂😂😂😅😅😊😊

  • @igit_7296
    @igit_7296 วันที่ผ่านมา

    The only way for this to be fair is for the federal government to subsidize all the people that live in Florida, who are being hit with these high rates. This is the only way to really have freedom.

  • @carolynbaker2405
    @carolynbaker2405 วันที่ผ่านมา

    Fla sucks

  • @carolynbaker2405
    @carolynbaker2405 วันที่ผ่านมา

    Yep I left Fla in April 2024 thank God

  • @douglastaylor8039
    @douglastaylor8039 วันที่ผ่านมา

    The corrupt builders got together with the building owner and corrupt politicians and built cheap shoddy foundations. Then the theiveing owners sold the buildings and now the new owners and condo owners are stuck with the repairs. Games people play.

  • @mikeemerson1091
    @mikeemerson1091 วันที่ผ่านมา

    Florida has a long history of big ups and big downs in prices. Lots of people move to florida with big dreams and head back home with their tail between their legs.

  • @kevinhenault434
    @kevinhenault434 วันที่ผ่านมา

    The state was still net positive by over 120k new residents. Stats show younger poor are moving out and older wealthy are still moving in. Builders will adjust to inventory demand just like they always have. Economic downturn is a natural part of our economy. I have lived through 3 and every time everyone said it was the end of life as we know it. If new storm patterns don’t make the state unsustainable ocean rise surely will at some point.

  • @londonfog5835
    @londonfog5835 2 วันที่ผ่านมา

    CRIME!!!!!

  • @Fayde-o1h
    @Fayde-o1h 2 วันที่ผ่านมา

    Insurance is very expensive!

  • @Agamemnon-w9x
    @Agamemnon-w9x 2 วันที่ผ่านมา

    I wanna retire as a hot tub crab freak in Boca Raton

  • @dontaskmenomore
    @dontaskmenomore 2 วันที่ผ่านมา

    #1 reason not to move to Florida is transplant New Yorkers. #2 is New Jersey transplants. #3 is P.A. transplants. #4 is N.E. transplants. #5 is fricking obvious! I was born here in 1956 just like my great grand parents and know Florida real well newbies.

  • @margiedauber1632
    @margiedauber1632 2 วันที่ผ่านมา

    Nice place to visit but not to live there.

  • @bigfootscabin3578
    @bigfootscabin3578 2 วันที่ผ่านมา

    Floridass sucks! .

  • @pliktl
    @pliktl 2 วันที่ผ่านมา

    I bet everyone in hell calls it paradise due to lack of honesty

  • @JamesSmith-vs8nv
    @JamesSmith-vs8nv 2 วันที่ผ่านมา

    Ron DeSantis has to go. He's definitely not the answer for Florida, but he's a huge problem.

  • @wandakessell1520
    @wandakessell1520 3 วันที่ผ่านมา

    For one and for two why people leaving Desatan is the governor.

  • @Oldfrtsteeler
    @Oldfrtsteeler 3 วันที่ผ่านมา

    How bout the traffic. 10 minute drive takes 45

  • @millerr8066
    @millerr8066 3 วันที่ผ่านมา

    I’m out of here as soon as I can afford to be. Born and raised, always loved it, but after the last 10 years, the un affordability, angry old people, political climate, climate climate(lol), insurance. It’s just not worth it at all, there’s plenty of more beautiful and far cheaper places all over the country.

  • @ChickaBless
    @ChickaBless 3 วันที่ผ่านมา

    I am from up north, and I am staying in Florida. 😊

  • @joeburgess9013
    @joeburgess9013 4 วันที่ผ่านมา

    Get real... I guess folks just make this shiz up hoping for the gullible to believe.. Florida has NEVER (yes NEVER) had a year of population decline. How about doing some research before trying to shock-jock the foolish. The pandemic year was the only year below 1% growth year over year. The real estate market is definitely in the no buy zone because of demand from those coming to the best known free state with a balanced budget and NO personal income tax. Folk leave for Tennessee and West NC for lower cost economics. At the same time home costs are mitigated by builders that have bought out every back woods town with more agreeable permitting adjacent to the larger markets and the largest boom of more affordable homes ever. South Florida is no longer Florida... The market is bolstered by folks that cant afford the insurance rates and upgrade requirements to stay in their older homes. The new Florida rural Cities Just outside the major areas. Nokomis, Lake Wales, Wimauma, Lutz, Spring Hill... They are on fire to satisfy the more affordable option. Review usafacts.org/data/topics/people-society/population-and-demographics/our-changing-population/state/florida/#:~:text=Share%20This-,How%20has%20Florida's%20population%20changed%20over%20the%20years%3F,average%20of%201.4%25%20per%20year.

  • @richardkaiser9509
    @richardkaiser9509 4 วันที่ผ่านมา

    Florida where insurance companies, history and books go to die!!! rekwife

  • @martinwalsh6877
    @martinwalsh6877 4 วันที่ผ่านมา

    Can you recommend a Delray realtor? I will be there Friday 12/20 looking for a 1 v bedroom Villa $1800 per month.

  • @GG-im6pq
    @GG-im6pq 5 วันที่ผ่านมา

    HOA'S 😔

  • @GregoryAlbright-t3p
    @GregoryAlbright-t3p 6 วันที่ผ่านมา

    The condo situation in Florida is not as bad as the rental situation in CA. Condos are for certain not a perfect situation but they are better than the solutions found in other states.

  • @RobertPeters-s9r
    @RobertPeters-s9r 6 วันที่ผ่านมา

    I'M ALSO LEAVING FLORIDA. TOO MANY PEOPLE FROM NY ARE MAKEING IT TOO CROUDED.. GETTING TO BE TOO MANY PEOPLE IN MY GREAT STATE.. TEXAS LOOKS TOO BE BETTER.

  • @Hedonismbot26
    @Hedonismbot26 6 วันที่ผ่านมา

    DeSantis is right, the law he signed is hurting condo owners...

    • @dirremoire
      @dirremoire 6 วันที่ผ่านมา

      The laws are actually saving condo owners. Safety first.

  • @michaelwhite9513
    @michaelwhite9513 6 วันที่ผ่านมา

    Can't happen to a more deserving group of people.

    • @swagic8452
      @swagic8452 3 วันที่ผ่านมา

      who....the old retired senior citizens who worked their entire lives to retire in Florida?

  • @QueenWashington-j7v
    @QueenWashington-j7v 6 วันที่ผ่านมา

    Florida🐊🐍No Thanks Better my DC💙💙💙🇺🇲🦅

  • @mannettegaray2589
    @mannettegaray2589 6 วันที่ผ่านมา

    These the same reason I left on March this year to the greatest state of California. And I am loving it. Better pay, state taxes, better benefits, quality of life, everything is near by. I live in LA there are a lot of fun things to do., contact with the nature. When you move to a different state make sure you speak at least a second language, have a career, come with job or transfer. Also, you can speak any language and it’s not anyone business. Also, a lot of Spanish speakers. I had experienced few quakes, also some wild fires around caused by Santa Ana winds.

  • @martinmurphy4852
    @martinmurphy4852 6 วันที่ผ่านมา

    Any of the slave wage labor that built the things could have told you they were a terrible idea but the last thing elites are going to do is listen to people who actually work for living

  • @FeGarr527
    @FeGarr527 6 วันที่ผ่านมา

    Like the legislatures, you stopped at the first reason for the tragedy in Surfside. Additionally, the inspections are only finding what’s wrong and how much it will cost. No one is asking WHY beyond the surface level; what happened to “Root Cause Analysis” and/or asking “Why” 5 times? Why did/are properties is such poor shape? Cost of repair. Why are the repairs so costly? The repairs are structural. Why is the structure failing? Lack of preventive maintenance? Shoddy materials initially used? Land on which the property was built? Demonizing 5-7 volunteers, following the majority consensus, is easy. Finding the real answers is hard, and can lead to some very uncomfortable conversations, but could save millions of dollars and quite possibly some lives!

    • @pierregravel-primeau702
      @pierregravel-primeau702 6 วันที่ผ่านมา

      LOL... Because we all know the problem. Climate change and shady entreprenor that know that florida is a sandy swamp and no amount of embankments can stop the ocean...

    • @pierregravel-primeau702
      @pierregravel-primeau702 6 วันที่ผ่านมา

      I say shady but I should say floridian... Like another entreprenor that is too fat and too dumb to use spray tan... Even if he is billionnaire and president...

    • @shadowninja6689
      @shadowninja6689 6 วันที่ผ่านมา

      I mean part of it is probably that Florida is just a rough place to live due to all the hurricanes/flooding/etc., issues that climate change is only making things worse overtime.

  • @lisapratt166
    @lisapratt166 6 วันที่ผ่านมา

    I don’t think it’s so much that older people who buy these are irresponsible I think that when they sign these contracts, they hurried through them and the condo associations are quick to make sure that they just sign it and not really understand totally what is expected of these new owners as years go down the road. I imagine ,having never owned a condo, There must be a lot of fine print that should have been read by someone legal before these people bought the home to begin with, and it must’ve outlined what would have been expected of them for future events. I think that people who are retired should not be buying into these huge condos if they have the credit and they have the means they should just buy a regular home. It’s a lot safer a lot more manageable. Condos are for people who have jobs or careers and are able to get a loan if they need one to help pay for large assessments.

    • @xyz987123abc
      @xyz987123abc 4 วันที่ผ่านมา

      I suspect many older folks simply expected the Angel of Death to move faster than the rot could develop and thus it would not be "THEIR" challenge. Typical of many, not all boomers, to get the good out of something and pass the bad onto others. Their sense of entitlement is bigger than earth itself.

  • @BakingBadOBX
    @BakingBadOBX 6 วันที่ผ่านมา

    good. poor planning and greed.

  • @danielschein6845
    @danielschein6845 6 วันที่ผ่านมา

    I was a Realtor in California for 8 years and sold mostly condos in the Bay Area. I’ve seen some pretty shaky condo financial statements but never in my 8 years did I see anything as bad as what seems to be typical in Florida. Please folks - Demand to see that reserve study. Make sure it’s both recent and credible. (In CA associations are supposed to update it every 3 years but many don’t.) Make sure the reserves are properly funded. The new laws in Florida aren’t causing this pain. These repairs were all going to have to happen sooner or later. All your legislature did was reveal the problem that’s always been there. Also - Don’t think that buying a new condo protects you. These costs are there whether the law requires your board to deal with it now or not.

  • @robboyce6636
    @robboyce6636 6 วันที่ผ่านมา

    This is what happens when politicians get involved. They are pretty close to the most stupid people in the crowd. As I hear you, it would seem that buying a condo in a 3 story building or lower is the best option. Are there any requirements for those buildings?

    • @danielschein6845
      @danielschein6845 6 วันที่ผ่านมา

      Short buildings need to be maintained too. If the association defers maintenance and doesn’t fund the reserves you’re getting a big bill there too.

  • @user-zo6xg8bx4l
    @user-zo6xg8bx4l 6 วันที่ผ่านมา

    Floridians have been whistling in the dark for decades under GOP rule ignoring any real issue that have popped up. Those days are over. Time to pay the piper.

  • @paulbunyon4624
    @paulbunyon4624 6 วันที่ผ่านมา

    You get what you vote for,losers🎉

  • @johnsmith-ro2tw
    @johnsmith-ro2tw 6 วันที่ผ่านมา

    Same problem as that condo problem all over Australia. Lack of regulations means developers get away with a shit job. There has been many high rises in high demand areas that were reported with such defects that residents had to evacuate.The developers are often from China, and they are quick to shut down the company once the building is built, so they don't have to deal with legal consequences. Property buyers get to buy what turns out to be worthless junk. So far, no such fatal accident in Australia, but it could happen.

  • @hologramhouse729
    @hologramhouse729 6 วันที่ผ่านมา

    South Florida has an interesting reputation: crime drugs, crazy people, crazy drivers, toxic politics, no care about endangered manatees or ecology, etc

  • @Hatim.13
    @Hatim.13 6 วันที่ผ่านมา

    Just make sure that when you leave Florida, leave Desantis politics there.

    • @Hatim.13
      @Hatim.13 วันที่ผ่านมา

      @krobles1 No you don't, you re just brainwashed into living in fear because you don't know any better, and you don't know what living under the Soviet Union is like, you ve probably never lived outside of the US, maybe never outside of California, so your perspective is so limited and clueless! If you glorify conservatism that much, you re free to move to a red state, and see for yourself.

    • @Hatim.13
      @Hatim.13 วันที่ผ่านมา

      @krobles1 No.

    • @Hatim.13
      @Hatim.13 วันที่ผ่านมา

      @@krobles1 Yeah equating California to the Soviet union is "truth"...Unless you mean the social media called truth, it is nothing short of ridiculous...You lack perspective because you re not well travelled or educated in history.

    • @Hatim.13
      @Hatim.13 วันที่ผ่านมา

      @@krobles1 @krobles1 Yeah equating California to the Soviet union is "truth"...Unless you mean the social media called truth, it is nothing short of ridiculous...

    • @Hatim.13
      @Hatim.13 วันที่ผ่านมา

      @krobles1 What truth, that California, the largest economy in the US and the 5th largest in the world if it was a country is somehow the soviet union? Move to Alabama then

  • @richardkeller4892
    @richardkeller4892 6 วันที่ผ่านมา

    When you have 30 years of neglect with reserve fund and repairs to get a low maintenance fee, then what do you expect?

  • @espeenikki1904
    @espeenikki1904 6 วันที่ผ่านมา

    ONE THING…EVER SINCE, ONLY TWO STATES THAT WE WILL NEVER VISIT OR LIVE…”NEW YORK AND FLORIDA!!!”

  • @swagic8452
    @swagic8452 7 วันที่ผ่านมา

    Governor Desantis needs to do something to help all the seniors who live on social security who are getting hit with assessments and HOA increases that they can not possibly afford. These older retired people are going to be homeless. WTF is going on with Desantis and I am a Trump supporter. . It just seems so unfair to the elderly people who worked their entire lives to retire and now are forced to move because of the the special assessments and crazy increase in HOA fees. What's even more disgusting are the envelopes of money being handed to corrupt HOA members who take huge bribes to get these massive contracts. This has to be the most corrupt real estate market in the entire country. And you put out great content so thanks for your videos.

    • @DasPwner
      @DasPwner 6 วันที่ผ่านมา

      ahhahaahahahhahahahah.

    • @DasPwner
      @DasPwner 6 วันที่ผ่านมา

      you get what you voted for. 40 years of deregulating industry for the oligarchy at the expense of society then now your roosters are coming home to roost and you cry about it.

    • @fordprefect5304
      @fordprefect5304 6 วันที่ผ่านมา

      The Gov is getting gift certificates for seniors who can't pay up. Dr Kevorkian gift certificates.

    • @colombiantom
      @colombiantom 6 วันที่ผ่านมา

      Where does personal responsibility fit into this? They failed to pay their fair share during years and years to ensure the safety of their building. If you look at hoas in ny, you see that it’s over 1k, but in Florida some hoas were less than 300 dollars. Either you pay in installments or you pay the lump sum. As a republican, you should be on the side of personal responsibility. They should get an extra mortgage to pay for the fixes

    • @dirremoire
      @dirremoire 6 วันที่ผ่านมา

      These are the same elderly who voted to defer maintenance time and time again in HOA meetings. What did they think was going to happen?