Home Buying in Tampa>Question Details

Florida40, Home Buyer in 34677

Should I buy in Ruskin?

Asked by Florida40, 34677 Sat Feb 23, 2008

I am considering building a home in Ruskin. Ryland Homes as well as other builders are offering great incentives right now in the Ruskin area. However, the area is not fully developed I hear that development (restaurants, bars, etc.) will becoming soon. My hopes are to purchase a home to live in for the next 5 years and then sell it and walk away with some money in my pocket. I hope Ruskin will be a totally different place in 5 years from now. Should I close the deal and buy in Ruskin?

Thanks,

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The biggest problem is that in a declining market many projects get put on hold. If you buy the home now and the area builds up and the market rebounds, then you could do very well in five years. The problem is that nobody knows when the market will rebound, so you are taking some chance that the development that is planned will either go up as planned or take longer than planned. Although five years is usually good as far as market rebounds and making some money, the problem can be that in a growing area, the prices do not always rebound as quickly as established neighborhoods, usually until the building of the stores and restaurants start going up.

And you are right, the prices and the incentives the builders are giving are great. A great Realtor will usually get you an even better deal. In the end it comes down to do you believe the economists who say the housing market will rebound in 2008 -2009 or the ones that are saying 4 years, and even up to 10 years.

Personally, I have found that when the media and business shows whether we are talking about stocks or housing are either all saying buy, buy, buy then it is likely the time to consider selling, and when they are all talking doom and gloom it is time to consider buying. At the highs and lows the media goes in to a feeding frenzy and usually miss the signs that the market may not be as good or as bad as they are reporting.
1 vote Thank Flag Link Sun Feb 24, 2008
Fl40

When purchasing, history teaches the 1st three things to consider 1. Location 2. Location 3. Location.

As the market rebounds, those properties with the strongest location will rebound more quickly and stronger.

Best of luck
2 votes Thank Flag Link Sun Feb 24, 2008
It sounds like this is serious speculation! Of course the choice is yours, but we recommend identifying a location with established desirability and less risk involved. Five years might not be enough time. Additionally, any committment to new construction, at this time(any where) should also involve close examination of the companies financial status. There are too many developers, large, small, established, and nationally recognized, that are in serious financial trouble. Many have already gone "Belly Up." Don't let their troubles become yours. Do your homework and select a location that is able to minimize your risk!!!

Good luck,
The "Eckler Team"
Century 21 Almar & associates
Venice, Fl 43285
941-408-5363
2 votes Thank Flag Link Sun Feb 24, 2008
You have a great community of Little Harbor which is in Ruskin and if they can get their collective act together, it will drive values up in and around the area. They own alot of land down by the beach and have a development plan to build more homes by the water as well Multi million dollar homes. They do have some rezoning issues that they are tying to solve right now so hopefully they get their act together.

In either event, you can read about it in on my site at http://www.findmyfloridahome.net
1 vote Thank Flag Link Fri Mar 7, 2008
The whole Ferry article is kind of funny because the service did exist many years ago. It went bankrupt and a family member of mine bought the ferry. He believed that Cuba would re-open and he would have a lucrative business taking tourists down to the island. At any rate, it never happened. In 98 a similar ferry was started to the Yucatan in Mexico,

http://www.sptimes.com/2002/07/26/Business/Ferry_will_connec…

from Tampa to Mexico took about a day and the trip was pretty nice, but it too went bankrupt. SO with the History of Ferry's in this area, I wouldn't count on it. I am not saying our Government won't waste a few dollars on the project, but will it last. This kid ain't investing a penny other than those the City is already taking.

Gary De Pury
Broker-Owner
Bay Vista Realty
Director, Florida Association of REALTORS
1 vote Thank Flag Link Thu Mar 6, 2008
If a publicly subsidized ferry from Apollo Beach to downtown Tampa and St. Pete is put in place, it may significantly increase demand for homes in Ruskin and areas near Apollo Beach. The Tampa Trib had an article at the end of Dec. '07 about the ferry:
http://www2.tbo.com/content/2007/dec/27/na-county-sees-ferry…
Web Reference: http://www.soldontampa.com
1 vote Thank Flag Link Wed Mar 5, 2008
Hello
In 5 years you may be ok as far as making a few bucks, but Ruskin may take a bit longer than 5 years to develop more like 10-15, IMHO, but it IS very close to the water, a pretty easy commute to Sarasota or pinellas county etc, so location WILL be there at some point, but it will be a while...
1 vote Thank Flag Link Fri Feb 29, 2008
Hello Florida40,

I can remember when there was no development in Ruskin. You just took Hwy 41 S to get somewhere else.

Southshore is really being developed and as you know there are so many new developments popping up everywhere. Shell Point W. has multi million dollar homes and marina. Mira Bay is an amazing development.

I love the close proximity to Apollo Beach and Sun CIty Center. It is also such an easy commute to Ellenton, and the Brandon Mall for Shopping. Southern Hillsborough still has land and I think you can get more house for your $.

Dvelopers don't build professional offices for the heck of it. They want their return.

If you haven't signed and would like me to take a look, you can contact me at Phil@PhilFowler.com

As a resident of Southshore, I think Ruskin is a great mix of country and coastal living.
Web Reference: http://www.PhilFowler.com
1 vote Thank Flag Link Sun Feb 24, 2008
Florida40,

Some additional information concerning the future planning of Ruskin Fl and the rest of South Shore can be found at:

http://www.hccommunityplanning.com/hccbpp_Ruskin/

This is a Community Based plan for the Ruskin area. As stated below Ruskin along with the whole South Shore Area has been in extensive growth for the past 5 years with a slow down in the past year I agree with Bill and Jeff that the market is still reclining and allot of speculation is still going on but the location between Sarasota and Tampa is favorable and Ruskin along with Apollo Beach has Bay access which is of course favorable (unless you have to pay for insurance) If we were not in this uncertain market I would say jump on it but their are many variables which would keep me from confidently saying go for it. See most of the planning programs were established at the time of our real estate peak, now if the county pushes through with its proposed planning then I see a more realistic rebound within the next 5 years. I hope this helps you and if I can be of any further assistance my website is listed below.

Thanks for your question
0 votes Thank Flag Link Thu Mar 6, 2008
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