Beach Property Price Performance in Today's Market

[seacliffes]

Is it possible to get some opinions from some of the realtors and owners on this board who can give me an idea of how "beach property" is doing in the current down turn in the RE market? By beach property, I would say within 400 feet of the water with a Gulf view (front, 2nd through 4th row properties). I know properties must be selling lower based on all the negative responses to all of the various threads on this board, but I hope to hear from some of the folks actually involved in these properties and sales. I have a 2nd row lot near Sandestin That I have owned since 1990 that I may put on the market this summer. It's not "eating anything" so if I need to wait 5, 10 years that's just fine since it was paid off long ago.

Thanks in advance.....

 

[Camp Creek Kid]

If you don't have to sell now, don't.

 

[SHELLY]

Is it possible to get some opinions from some of the realtors and owners on this board who can give me an idea of how "beach property" is doing in the current down turn in the RE market? By beach property, I would say within 400 feet of the water with a Gulf view (front, 2nd through 4th row properties). I know properties must be selling lower based on all the negative responses to all of the various threads on this board, but I hope to hear from some of the folks actually involved in these properties and sales. I have a 2nd row lot near Sandestin That I have owned since 1990 that I may put on the market this summer. It's not "eating anything" so if I need to wait 5, 10 years that's just fine since it was paid off long ago.

Thanks in advance.....

What are you trying to accomplish by putting the property up for sale this Summer? Do you have other plans for the money, or are you just trying to simplify your assets (not having to deal with taxes, insurance, maintenance, etc)?

 

[Babyblue]

I live 25 feet from the gulf. Just had my house appraised. Value has NOT dropped since last appraisal in 04.

 

[seacliffes]

What are you trying to accomplish by putting the property up for sale this Summer? Do you have other plans for the money, or are you just trying to simplify your assets (not having to deal with taxes, insurance, maintenance, etc)?

Shelly, I do not have any specific plans for the money, however, I am 55 years old and a close freind of mine passed away in December who was the exact same age, which got me thinking.... I guess in short, I have become more aware of my own mortality. That said, I can hold the property fowever if needed, but still would like to enjoy the money at some point.

Marty

 

[Jdarg]

Shelly, I do not have any specific plans for the money, however, I am 55 years old and a close freind of mine passed away in December who was the exact same age, which got me thinking.... I guess in short, I have become more aware of my own mortality. That said, I can hold the property fowever if needed, but still would like to enjoy the money at some point.

Marty

Good for you! :clap_1: Why the he!! not?

 

[fisher]

I live 25 feet from the gulf. Just had my house appraised. Value has NOT dropped since last appraisal in 04.

Appraisals are worth only the paper they are written on. Try selling your house and see what it will bring. Only then will you know if the appraisal was correct. It's also hard to do an appraisal when very little is selling in the market. Comps really don't mean anything if nothing is selling.

 

[hi n dry]

Is it possible to get some opinions from some of the realtors and owners on this board who can give me an idea of how "beach property" is doing in the current down turn in the RE market? By beach property, I would say within 400 feet of the water with a Gulf view (front, 2nd through 4th row properties). I know properties must be selling lower based on all the negative responses to all of the various threads on this board, but I hope to hear from some of the folks actually involved in these properties and sales. I have a 2nd row lot near Sandestin That I have owned since 1990 that I may put on the market this summer. It's not "eating anything" so if I need to wait 5, 10 years that's just fine since it was paid off long ago.

Thanks in advance.....

Dear Marty,

Sorry to hear about your friend.

If you want to be on 30A within a short walk of the beach-as in carrying your beach chairs and cooler -you can now buy a lot for around $200k .

However, the inventory of those $200k lots that close to the beach appears quite limited at this time and are the ones that are being bought up.

If you have a lot on 30A with high elevation
(30 feet or more above sea level ) a short walk to the Gulf I would not sell it now unless it is cramping your life style.

 

[Babyblue]

Appraisals are worth only the paper they are written on. Try selling your house and see what it will bring. Only then will you know if the appraisal was correct. It's also hard to do an appraisal when very little is selling in the market. Comps really don't mean anything if nothing is selling.

Good point. But you sure can take it to the bank!

 

[Bobby J]

Appraisals are worth only the paper they are written on. Try selling your house and see what it will bring. Only then will you know if the appraisal was correct. It's also hard to do an appraisal when very little is selling in the market. Comps really don't mean anything if nothing is selling.

Define "nothing is selling"