Affordable Housing in Walton County

[SHELLY]

Well, when the lowest price homes south of Defuniak are older single wide trailers for the $170,000s, at least our development will give real people the opportunity to purchase a real home.

So what does that say about a market that's trying to sell the "older single wide trailers" in Defuniak? What pricepoint would you put on those trailers?


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[Camp Creek Kid]

So what does that say about a market that's trying to sell the "older single wide trailers" in Defuniak? What pricepoint would you put on those trailers?


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It says about the market that people should pass on the trailers and buy a house from my husband instead.

 

[SHELLY]

It says about the market that people should pass on the trailers and buy a house from my husband instead.

Got any info to post about those houses for sale and who is providing the financing?

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[GoodWitch58]

My husband is starting a project south of Freeport and just north of the bay off of 331 (LaGrange Road area) which could be considered "affordable housing" for real people. It will be a nice development with 1/4 to 1/3 acre lots in a subdivision of 42 homes. Homes will be nice and well built between 1300 and 1500+ sq. ft. with prices starting at around $180,000. There will not be any string attached to the mortgages

Just wanted to let everyone know. Model homes should be completed this Spring.

I don't understand why anyone would build more homes right now...the big problem with this market is the overbuilding and huge inventory...and, this price point seems high for the "affordable" definition.. The truth is very little is selling, no matter what the price.
What am I missing here?

 

[Busta Hustle]

shel name me a place where a service worker driven economy has affordable housing...i'm sure you have noticed the importation of eastern europeans to work as waiters in seaside, watercolor etc...i doubt those kids are looking for a house to buy anyway...and i'm sure you are familiar with the apartments that san destin built in walton county for it's workers...as far as local kids go i imagine those that want to stay here will find it hard to own what you would consider an affordable home but many will find opportunities for a good place to live without government subsidies...

 

[SHELLY]

shel name me a place where a service worker driven economy has affordable housing

Florida, pre-Real Estate Bubble

...i'm sure you have noticed the importation of eastern europeans to work as waiters in seaside, watercolor etc...

Noticed it??.....I predicted it.

as far as local kids go i imagine those that want to stay here will find it hard to own what you would consider an affordable home but many will find opportunities for a good place to live without government subsidies..

Yeah, their bedroom at Mom & Dad's house.

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[beachmouse]

Orlando has historically done well in terms of affordability. Same goes for pre-2K Las Vegas. If you've got a situation where there's ample buildable land, then you get affordability. The affordability problem usually comes with geographic (island, small ski valley surrounded by federal land) and regulatory/zoning issues.

 

[30A Skunkape]

What is all the fuss about? Here is a Watercolor condo for 155k. ;-)
http://homes.realtor.com/search/lis...8512db78&lid=1074312752&lsn=6&srcnt=39#Detail

 

[SHELLY]

I don't understand why anyone would build more homes right now...the big problem with this market is the overbuilding and huge inventory...and, this price point seems high for the "affordable" definition.. The truth is very little is selling, no matter what the price.
What am I missing here?

Builders only have two choices:

(1) Stop building and go bankrupt
(2) Continue to build at razor-thin margins

Some money is better than no money. As long as current sellers of used homes refuse to meet market prices, there is money to be made by homebuilders--albeit not the 50%+ margins they got used to during the frenzy.

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[Camp Creek Kid]

Got any info to post about those houses for sale and who is providing the financing?

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We've got some good financing options and the banks have been happy to work with us. When a decent project is presented, they are still willing (eager) to do business.

Shelly, sounds like you're a potential buyer! I'll give you the special naysayer's preconstruction price.