Nightline and the morning show did a story on a community in Florida called Brinny Breezes. It is a mobile home park where alot of retired people live. These people bought their mobile homes for $40,000. Today they are worth over 200k. Each homeowner was offered over 1 million dollars by a developer to sell. The community is so desirable because it sits on very prime real estate...the ocean on one side and the intracoastal waterways on the other. Alot of those people who live in the community are on a fixed income and I know if that was me, I'd jump at the chance to sell and be able to have peace of mind that I did not have to struggle month to month, Mind ya, this community is located in a very exclusive area in Florida where there are 5, 10 and 15 million dollar homes. The story pointed out the developer is building condos where the asking price starts at 3 mil. These people will never be able to afford another home in this area, so that part is sad. The community is voting on this. I believe they need a 2/3 vote in order for this to pass. Some neighbors want to stay.

If that was you, would you stay or would you take the huge windfall and relocate?

If I was sitting on a spot that was worth that much & only going higher I would sit on it that sounds like a great spot to be I love water so I would be in heaven thier. However my current house I would sale in a heartbeat if offered twice what I paid here in IA the real estate is dropping EEKS!!!

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mom of 3 greats girls

I love the ocean If I lived there I wouldn't sell no matter what they offered me. The million dollars I received wouldn't buy me another ocean front property. I would be glad I invested my money wisely and I'm living a life many people couldn't afford to live.

On a sour note. I had the chance to buy a 2 bedroom house for $45,000 6 years ago in the beach community area I loved. This house was located less than 3 miles from the beach..Alot of people were selling their homes due to a plant coming in. The following year the realty triple in value and has skyrocket since..All I wanted was a vacation home and DH wouldn't let me buy it. He said, We will buy our home first before buying a vacation home I tried to convince him the loan we could have paid off in 5 years Both my mom & I have not let him live it down. If we did buy it I wouldn't of sold it to make a profit.. I love the beach and when we visit my family I have to travel 30 minutes to get to my fav beach..

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I would totally sell. I have heard that the housing market down there may bust soon. Who knows? With my luck, I would wait- and then be out of luck lol.

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AKA: Airbornearmywife

Can you imagine the property taxes? and potential for hurricanes? I'd sell.

I'd sell in a NY minute. BUT they'd have to agree to help me pack and move all my "stuff".

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Sell! I was brought up on the ocean and I love it!! But, a million bucks? I would have that million in the bank making me money and securing the rest of my life in a heartbeat.

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Lyn Clarke

If I was in their position on a fixed income, I would definitely sell.

I live here in Florida, and after seeing the ridiculous prices of homes, no way would I sell for one million, they would have to give me more than that. Those older people will never find good decent places to live in that area. In the town that I live in, the average price of a home is 400K, even in the really rough section of town, they go for 200k. As a family with a low income, a home is just a pipe dream for us, so I do not think I would do it, mostly because of property taxes and insurance, those prices are so unbelievably high these days.

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Melissa
Mom of Kiefer, Kaitlan, Korrey, and my very special Heavenly Angel, Kieran^i^

You bet your a$$ I would sell for 5xs what it is worth. I know that if I shopped around I could find a nice house somewhere else and then bank the rest of the money. Heck I would even pack myself

Yes, if someone offered me 5x the value of my home, I would sell it in a second.

I would totally sell! There are many nice places to live and they don't have to be in FL. I am so used to moving every few years that I don't really feel like I have to be tied to one geographical area. Sure, you can play the waiting game, but how often do you hear of people getting 5 times their investment? I currently own a home in the DC area. The market has finally softened there. When it picks back up, we may sell. We are almost to the point where our house has doubled in value since 2003. When it does, I may be ready to hit the sell button. Until then, I am happily letting our renters pay our mortgage.

Yep, but I'm not fond of beaches or heat I might put consideration into whether that was actually a fair price though.

Yep...unless I was financially "set". I would also think of the other people involved. I mean, if 99 out of 100 people wanted to do it and I was the only one holding them back, I would do it.

Example:
My grandpa owned a house in Southern CA. Run down neighborhood (his was a rental). Home Depot wanted to come in and build. Catch is that 100% of the people had to sell for them to build. Not like it is now where it can be a majority or the government makes you move. Anyway, old lady about 80 who lives smack dab in the middle won't sell. They were offering about 4 - 5 times what the values were! Home Depot went elsewhere. I swear my family feared for this old ladies life! Lots of people were VERY mad.

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Proud to say I haven't shopped at a Wal-Mart since Sept 2003

Glad you said that. I hate packing and moving !


Heck, I'd sell for twice my house is worth, plus packing & moving.

Its all relative. My home right now is worth 5X what I paid for it. We bought our house in 1986 for 60,000 and most homes in my neighborhood are going for at least 300,000! And these are OLD houses! My home was built in 1958 and its only a 3/1!

The problem is, to replace your home in this area, would run you a minimum of 500,000 not to mention the taxes & insurance.

My mom is constantly telling me to sell our house since its "worth so much", but I can't really afford to move because so is everything else!

Btw....Briny Breezes is about 45 min away from me.

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This space for rent

Heck yea, I'd sell without a doubt!

Heck, fur $1mil, I'd LEAVE all my stuff!

I would move in a minute, no doubt about it!

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"A true friend is someone who thinks that you are a good egg even though he knows that you are slightly cracked." ~ Bernard Meltzer

Just tell me where do I sign?lol

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“A two-year old is kind of like having a blender, but you don't have a top for it.”
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Heck yeah, I would. Why not! You could buy another one, and bank the difference! :O)

In a freaking heart beat!!!


I like the house that we have now but it isnt exactly my dream home. I would take the money and either build exactly what we want or buy something that has the few things that this home is missing.


Anyone know someone looking for an over priced home in NC??

Darlene

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Sell crazy some place else, we are all stocked up here.

If my home was a mobile home like that, yes, I would definately sell it. I think would even sell my home that I live in now. I live in a great neighborhood on 5 lots, with an inground pool and my house was built in 1930, but I still think I would sell it for that price. I would have to be able to find a suitable different place though as I hate "new" construction. I like really old houses.

I completely agree with flipper113. Keep all my um *stuff*! All I want is my pictures, my kids, my DH, and my dog. In my dreamworld, this would happen....

Thanks for the read!

If it were me, I probably would sell.
However, I can understand elderly people not wanting to move for any amount of money. It is harder for them to adjust to new surrondings, let alone find a new place, pack up and move.

I have a very bad feeling that these people (and others like them) are going to have their property taken away through the new 'eminent domain' laws that have come down in the past few years. They'll end up with 'fair market value' and nothing more.

Sarah........mom to Jason & Devin

I hope "Eminent Domain" does not happen to these people. These people worked hard all their lives and came to Fl. to retire or to escape the cold weather. One couple who said they would take the money said that as long as they were together they could live anywhere. Another lady who was in her late 80's said as long as she had her health that is all she cared about and would take the money. I would hate for E.D. be the cause of these people losing their property and causing them to get sick. I think since this was so much in the news the last couple of days, there would be such an outcry if any developer tried pulling an E.D. I read this morning, the vote is next Thursday.

I would sell the house where I live now for a lot less than that!

If I lived in Brinny Breezes I would not sell. Unless I didn't like there and most of the people I saw on TV liked it!Even if the housing market down there does bust soon they are still happy where they live.

I saw this and I wanted to keep up with the outcome. I am hoping that it does not pass. The lady at the end of the program said it right when she said that she is living and enjoying the same things that people in the area are and they have 11 million dollar homes. With the money they are being offered they cannot even afford one of the condos that will be built there. I hope that the developers don't get it. They are just greedy.

The only comment my husband said was that they better take the money before the government steps in and they get nothing.

As for me and my house YES in two seconds flat!!!!(I would just miss all of the trees and the fact that our neighborhood is soooooooo quite.)

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I read about them in the Miami Herald, the problem with it that a million just doesn't buy much in this area. Sad to say but we can sell our house but I cann't afford to buy another one in my area. The taxes will kill you. Let's not even talk about hurricance insurance or wind storm or flood. My FIL sold his house for 1.2 million and I was like this place is worth what? Nice house but not that nice.

But these people could move to Ocala like the rest of FL seems to be doing.