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I agree on the land amount...at least getting a larger piece of property.
I guess I'm lucky that the PNW is not on my retirement plan, quite the contrary, we just bought a property in Florida.
I have friends in the Denver area who bought in Florida for their impending retirement, but are completely rethinking. Their home, and their daughter's Florida home, were smack in the path of the big hurricane last year. Their home survived unscathed (it's currently a rental), but their daughter's home had part of the interior ceiling cave in from water accumulation under the roof. They're now thinking, instead of retiring to be close to their daughter, staying in CO so the daughter would have a place to live if her house gets wiped off the map. They're worried about the insurance issues in FL, too. It no longer seems like a good investment.
I worry about anyone buying in FL for retirement. Seems to me, if you have a beautiful W Seattle home either right on the water or close, it's an ideal location. Why abandon that, unless it's due to ever-increasing property assessments?
I didn't look at all the listings. The first two clearly have been flipped. Someone put a lot of money into upgrades, and wants their money back plus their profit. The 2nd home is in the university neighborhood and has a rental unit in the basement/ground floor. Both homes have views of Bellingham Bay and the islands. Everything is new and high-end in those homes.
Still, it doesn't make sense. Who would pay over 1 mill to live in B'ham, no matter how nice the home? Who's buying these; university administrators or wealthy retired folks? That would be worth researching.
Personally, I think the flipper or prior owners made a bad call on that 1920's Craftsman home, when they pulled out all the beautiful woodwork and built-ins that those homes always have. I really don't like this trend in home make-overs, aimed at giving them a generic "executive" look. Still, that one's a nice place. I love those! And it's so nice to have an actual dining ROOM, not a section of the living room designated as a dining "space".
But yeah--small lots. I've lost my tolerance for them. Those remind me of shabby, run-down university district or Wallingford-area lots and old Craftsman neighborhoods in decline off Aurora in Seattle. Even though the homes are re-done almost as if newly-constructed, the cramped lots give them away as being once-lower-end homes in run-of-the-mill (albeit: view) neighborhoods that have been gussied up.
I'm going to push back a bit here. The area in question is on South Hill, and while some of the housing may be older and near part of Western's campus, I can assure you that it's substantially nicer than you're giving it credit for. Our good friends live three blocks from the first listing, and as someone who walks and bikes by there frequently, I can confidently say that there's absolutely nothing about the the housing or the landscaping surrounding the first two properties that gives a run down or in-decline vibe whatsoever. I don't think the listing provides that context, but a walk around that area would.
I'm going to also assume that some of the observations from Seattleites on this thread are due to a bit of a pre-COVID mentality about the real estate market here, which is understandable. But it's a bit off from the reality of the situation. I understand your preference is Edgemoor, but many people in Bellingham- especially those who've flocked here in the last five years, place as almost as much of a premium on convenience as they do on a view. Edgemoor is really separated from the rest of the city. It's very private but has no sidewalks and feels disconnected for a lot of people.
And that brings me to the next point, which is that work from home employees making six figures+ dot the landscape and in addition to retirees make up the "who would pay $1 mil+ to live in Bellingham. I think you and the OP are drastically understimating how many work from homers are out there, and the effect they've had on housing. Many outdoorsy people from CA, CO, and WA would prefer parking their $250k sprinter van and $10k bikes here and having easy access to the mountains than to live in the crush of the Seattle area (or Denver or Seattle), as you pointed out.
I have friends in the Denver area who bought in Florida for their impending retirement, but are completely rethinking. Their home, and their daughter's Florida home, were smack in the path of the big hurricane last year. Their home survived unscathed (it's currently a rental), but their daughter's home had part of the interior ceiling cave in from water accumulation under the roof. They're now thinking, instead of retiring to be close to their daughter, staying in CO so the daughter would have a place to live if her house gets wiped off the map. They're worried about the insurance issues in FL, too. It no longer seems like a good investment.
I worry about anyone buying in FL for retirement. Seems to me, if you have a beautiful W Seattle home either right on the water or close, it's an ideal location. Why abandon that, unless it's due to ever-increasing property assessments?
We bought in Tampa which has not been hit by a hurricane since 1921 and we bought inland enough (about 7 miles from the coast) that a potential hurricane would lose quite a bit of its potency.
I was not interested in the Atlantic coast.
Our house is built within the latest FL construction code (2010), the house is all concrete blocks and reinforced steel with steel beams for the roof no exposed wood, thank God no more worries about termites and other creatures chewing up your house. Our area is rank 1 on a FEMA scale for flooding (meaning basically no risk at all)
We have modern impact windows and doors (can withstand 150 mph impact).
The community is beautiful with an amazing amenities center, trails, so lush and green.
I'm 30 mins away from the nicest beaches in the United States (Sarasota, Anna Maria Island, etc..), Tampa, St. Petersburg and Clearwater are all within 30-45 mins away as well with endless nightlife and excellent and refined restaurants choices. I have all sort of shops, restaurants and medical facilities almost at walking distance (or Golf Cart distance )
Insurance was not an issue, we are getting a very good one at reasonable price. Buy the properly built home and in the right area and you can get insurance.
I advise anybody to do their homework before buying in Florida...avoid old homes, avoid being too close to the coast, make sure your house in on a FEMA Zone 1 for flooding.
We are not immediately retiring. We will spend few weeks every 3 months or so in this house working from home for quite few years ahead before actually retiring. We will not sell our West Seattle home.
It's unreal the level of home you can get on Tampa for the same money of these crapboxes in Bellingham.
Last edited by saturno_v; 12-08-2023 at 12:17 PM..
And that brings me to the next point, which is that work from home employees making six figures+ dot the landscape and in addition to retirees make up the "who would pay $1 mil+ to live in Bellingham. I think you and the OP are drastically understimating how many work from homers are out there, and the effect they've had on housing. Many outdoorsy people from CA, CO, and WA would prefer parking their $250k sprinter van and $10k bikes here and having easy access to the mountains than to live in the crush of the Seattle area (or Denver or Seattle), as you pointed out.
The "work from remote, never to see an office again, live anywhere you want" mania is already receding. Companies are calling their employees back and there are quite few people already stuck with their overpriced lovely locations homes (Idaho for example or Montana) that cannot unload at their inflated prices and forced to rent in Seattle to keep their job.
Nothing in my opinion justify this $1.2 mil old box on a steep slope in Bellingham but maybe it's just me.
Last edited by saturno_v; 12-08-2023 at 11:43 AM..
I agree on the land amount...at least getting a larger piece of property.
I guess I'm lucky that the PNW is not on my retirement plan, quite the contrary, we just bought a property in Florida.
A lot of retirees start to miss the sun and head to Arizona or Florida in winter if they can afford it.
Bellingham is hot stuff now. It's a fine place but you pay a premium for cool factor of it, like so many things. And that gathers people who can't afford to live there and try to make it by living in a camper van or someone's basement and working a service job. They slowly slip further behind financially. The town has massive wealth inequity that people need to be comfortable living with.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,550 posts, read 81,103,317 times
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Quote:
Originally Posted by Ruth4Truth
I have friends in the Denver area who bought in Florida for their impending retirement, but are completely rethinking. Their home, and their daughter's Florida home, were smack in the path of the big hurricane last year. Their home survived unscathed (it's currently a rental), but their daughter's home had part of the interior ceiling cave in from water accumulation under the roof. They're now thinking, instead of retiring to be close to their daughter, staying in CO so the daughter would have a place to live if her house gets wiped off the map. They're worried about the insurance issues in FL, too. It no longer seems like a good investment.
I worry about anyone buying in FL for retirement. Seems to me, if you have a beautiful W Seattle home either right on the water or close, it's an ideal location. Why abandon that, unless it's due to ever-increasing property assessments?
I have never understood the attraction of Florida for retirees, with the heat and hurricanes. The whole idea of leaving snow seems strange, because when retired you can enjoy it and not have to go out in it to go to work. We will be just moving to a less expensive part of the Puget Sound region, such as Bellingham.
We have relatives that moved from California to Gig Harbor because they read that it was a great place to retire, and paid almost $880k there 3 years ago, now at about $924. Whenever those articles come out people flood to buy and drive up the prices. The only one to buck that trend is Sequim, probably due to the distance/Hood Canal Bridge/ferry to most amenities.
I have never understood the attraction of Florida for retirees, with the heat and hurricanes.
You need to do your homework when you buy in Florida, hurricanes are not the end of the world if you know what and where to buy.
If you do not understand the allure of Florida with this pic
Thousand of words will not be able to do the trick...
That beach is 30 mins from my house......
Quote:
The whole idea of leaving snow seems strange, because when retired you can enjoy it and not have to go out in it to go to work
When you get old and your joints hurt, is not fun to shovel snow out of your driveway or risk a bone cracking tumble going on a walk...
Depends on where you buy in Florida, you are a bit over one hour or so of low cost plane ride from mountains, forests and snow if you miss the white stuff and want few days in an Alpine setting.
Last edited by saturno_v; 12-08-2023 at 02:44 PM..
You need to do your homework when you buy in Florida, hurricanes are not the end of the world if you know what and where to buy.
If you do not understand the allure of Florida with this pic
Thousand of words will not be able to do the trick...
That beach is 30 mins from my house......
When you get old and your joints hurt, is not fun to shovel snow out of your driveway or risk a bone cracking tumble going on a walk...
Depends on where you buy in Florida, you are one hour of low cost plane ride from mountains, forests and snow if you miss the white stuff and want few days in an Alpine setting.
I don't mean to be constantly raining on your parade, but when I look at that island, all that comes to mind is: sea level rise. And I can't imagine an island that small having an adequate water supply for that level of development. It looks to me like real estate developers in Florida are allowed to run amok.
I don't mean to be constantly raining on your parade, but when I look at that island, all that comes to mind is: sea level rise. And I can't imagine an island that small having an adequate water supply for that level of development. It looks to me like real estate developers in Florida are allowed to run amok.
Nobody build anymore on that island and my house is not on that island....I'm 30-35 mins away in an area where the FEMA flood risk assessment is identical to my house in West Seattle
Last edited by saturno_v; 12-08-2023 at 03:02 PM..
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