Governor’s former house included in booming housing market

PONTE VEDRA BEACH, Fla. – Count Gov. Ron DeSantis among homeowners with seller’s regret? The waterfront location adjacent Jacksonville that DeSantis owned for astir a decennary until selling it aft helium moved into Florida’s governor’s mansion has climbed successful worth by an estimated 50% since the deal.

That means DeSantis efficaciously mislaid $232,000 by selling it conscionable a twelvemonth earlier the pandemic caused lodging prices to surge crossed the United States. In an interview, the home’s caller owners successful Ponte Vedra Beach said they were enjoying their bully luck – and didn’t adjacent cognize they were buying the governor’s location until months aft the woody closed.

DeSantis, 43, lives with his woman and children successful the governor’s mansion successful Tallahassee and does not presently ain immoderate property, according to authorities fiscal disclosure paperwork helium submitted a fewer months ago. He estimated his nett worthy astatine $348,832 – including astir $164,000 that helium and his woman profited erstwhile they sold the location for $460,000. It’s present worthy an estimated $692,000.

Ad

The politician seemingly enactment proceeds from that home’s merchantability successful a blimpish fiscal relationship with USAA that grew successful worth during the past twelvemonth from $205,000 to $235,000 — astir a 14% increase, records showed. That’s little than fractional what the S&P 500 gained implicit the aforesaid period.

The politician could person utilized the money: He is hardly affluent by the standards of governmental figures with specified nationalist prominence. He inactive owes much than $22,000 successful pupil loans from his years astatine Yale, wherever helium graduated successful 2001, and Harvard, wherever helium graduated successful 2005.

By contrast, erstwhile Gov. Rick Scott estimated his luck arsenic worthy astatine slightest $255 cardinal erstwhile helium became a U.S. senator. Rep. Charlie Crist, D-Fla., moving successful the Democratic superior to situation DeSantis for re-election, is worthy astatine slightest $1.5 million, according to fiscal reports helium filed successful August. Agriculture Commissioner Nikki Fried, moving against Crist to look DeSantis successful November, estimated her nett worthy astatine $970,244.

Ad

No 1 believes DeSantis’ best-earning years aren’t up of him: After leaving office, large governmental figures tin go highly paid web commentators oregon gain large bucks lobbying, penning books, delivering speeches oregon consulting connected politics.

“He could proceed successful authorities indefinitely,” said Mac Stipanovich, a respected erstwhile lobbyist and governmental activist. “Or helium volition instrumentality to the backstage assemblage and bash rather well, due to the fact that helium is simply a erstwhile politician of Florida.”

DeSantis archetypal bought the location successful Ponte Vedra Beach successful 2009 for $307,500 and took retired a owe for $314,111 – 1 twelvemonth earlier helium joined his wife, Casey, and respective years earlier helium got progressive successful politics. More recently, helium had been renting it since astatine slightest 2017, erstwhile DeSantis was serving successful Congress successful Washington, records showed.

The governor, who present earns $134,181 annually, said done his property secretary, Christina Pushaw, the household sold the location to debar maintaining a abstracted residence extracurricular the governor’s mansion. At the time, helium owed astatine slightest $263,000 connected the mortgage. As a congressman, DeSantis had been earning $174,000 per year.

Ad

The governor’s fiscal records showed helium made arsenic overmuch arsenic $5,500 the anterior twelvemonth occasionally renting the house, but its appreciating worth meant spot taxes unsocial would person climbed to transcend $5,000 annually – leaving astir nary rental wealth near to wage down the loan’s main and interest.

Adding to the symptom implicit the sale, DeSantis primitively listed the location for $485,000 but ended up accepting $25,000 little than that asking terms conscionable 2 months later, records showed. The pandemic struck the United States little than a twelvemonth later, and the home’s worth skyrocketed.

The three-bedroom, one-story location with a ample thenar histrion retired beforehand and excavation successful the backmost sits among good manicured, precocious mediate people suburban homes littered with vacation decorations successful a seaside play assemblage southbound of downtown Jacksonville and northbound of St. Augustine.

The caller owners are retirees Ellen and Jim Healey. Healey worked arsenic a owe banker portion his woman worked for the Defense Department. They concisely rented the location until they permanently moved determination from Georgia successful 2020.

Ad

The mates – she is simply a Democrat, helium is simply a Republican – said they person spent astir $85,000 remodeling bathrooms, paving a backyard patio and renovating the pool. Neither number themselves arsenic boosters for DeSantis, saying they disagreed with the governor’s pandemic policies.

“We are not against him, but we are not for him,” said Mrs. Healey, 58.

The mates ne'er met DeSantis during the spot merchantability and said they were unaware who had owned the location until a household subordinate mentioned it to them.

A section existent property agent, T.J. Jarosik of Ormond Beach, said marketplace prices surged during the pandemic successful ways nary 1 expected but person started to level. Homes generated aggregate offers, supra the asking price, the archetypal time they were listed.

“Interest rates are historically low, and with everything shutting down from erstwhile COVID-19 archetypal started, I deliberation that a batch of radical and businesses realized that they don’t person to beryllium successful the bureau each day,” Jarosik said.

Ad

Pushaw credited DeSantis’ policies for Florida’s beardown economy, including its lodging prices.

“Governor DeSantis is alert that location values person risen each implicit Florida,” she said. She added that his decisions arsenic politician “have strengthened our state’s system contempt the unprecedented challenges of the COVID-19 pandemic.”

The location adjacent Jacksonville wasn’t the lone location erstwhile owned by the governor. DeSantis moved from Ponte Vedra Beach successful 2016 arsenic legislature boundaries were changing, putting his aged location successful Florida’s 4th legislature district.

DeSantis and his woman purchased a three-bedroom location successful Palm Coast for $242,000 successful October 2016, conscionable earlier helium was past elected to the U.S. House successful Florida’s 6th legislature district, according to spot records successful Flagler County, on Florida’s eastbound coast.

That means for astir 2 years, from precocious 2016 until the mediate of 2018, the DeSantis household with 2 young children carried 2 mortgages simultaneously connected 2 humble homes successful Florida portion then-Rep. DeSantis was juggling beingness successful Washington. He slept connected a sofa successful his bureau successful the U.S. Capitol, showered successful the House gym.

Ad

The household sold that location successful May 2018 – during his run to go politician – for $275,000 aft trying unsuccessfully for six months to merchantability it for arsenic overmuch arsenic $324,900, records showed. The purchaser was Marc Rhoades, a Republican erstwhile lawmaker successful Kansas and White House authoritative during the Reagan administration, who inactive owns the home. Its worth is present estimated astatine astir $425,000.

___

This communicative was produced by Fresh Take Florida, a quality work of the University of Florida College of Journalism and Communications. The newsman tin beryllium reached astatine eliseelder@ufl.edu.

Copyright 2021 The Associated Press. All rights reserved. This worldly whitethorn not beryllium published, broadcast, rewritten oregon redistributed without permission.