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ray said:
shelly do you live on 30-a?It sounds like you think the glass is always 1/2 empty. There's some awesome deals on 30-a but they're not for flippers and one must be able to hold for 10 plus years. I truely believe real estate will do a flat line sidways for a decade .The lifeblood of speculation easy credit is gone for decades to come.
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Anyone considering "investing" in a beach home at this place (or just about any place) and at this time really needs to do lots and lots of homework--they especially need to do some extensive homework to ask themselves why those who cashed in on their "investment" were so successful. Moreover, they must think about timeframe and credit conditions that made those "investments" successful. The possibility that the stars will align for another RE Frenzy Moneygrab for this generation is zero to none. In addition:

They need to consider the escalating carrying costs of the "investment." (Taxes, utilities, insurance, HOA fees)

They need to consider increased maintenance and upkeep costs of a vacation "investment" near the Gulf (painting, hurricane protection, painting, trashing/theft by renters, painting).

They need to consider the short vacation rental window of the Panhandle.

They need to consider the overabundance/competition for the rental dollars.

They need to consider the reduction of public beach access & use.

They need to consider the reduced demand for 2nd homes due to higher credit standards.

They need to consider the implications of beach erosion on the future value of the home as an "investment" and vacation location.

They need to consider the lost opportunity costs in vacation time/money that can be better spent seeing other places around the world or using the money for other purposes.

They need to consider the possibility that the argument for "not being able to afford a beach home later" cuts both ways. Yes, the prices can go up--but also, your ability to cover carrying costs and the monthly nut for the home can also go down (something many people who are in the bind now never fully considered).

Too many "average Joes" became RE investulators--they should never have been able to get into the game. As a result of the RE frenzy and easy money, too many "average Joes" had easy access to cash (store front mortgage brokers, fly-by-night Realtors, and shifty contractors come to mind) and credit (going to HELOC in a handbasket) which allowed them to vacation in "upscale" resorts and "purchase" homes/condos/land in those resorts--that's ovah. Aside from one's primary house, the majority of folks shouldn't or don't need to "invest" in physical RE. If one has lots of cash laying around in drawers gathering dust...by all means, dust it off and buy a beach home to enjoy; and if you don't, save up a few bucks and take a vacation a couple times every year and let the owners of the condo/home worry about all the above.
 
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SHELLY said:
Anyone considering "investing" in a beach home at this place (or just about any place) and at this time really needs to do lots and lots of homework--they especially need to do some extensive homework to ask themselves why those who cashed in on their "investment" were so successful. Moreover, they must think about timeframe and credit conditions that made those "investments" successful. The possibility that the stars will align for another RE Frenzy Moneygrab for this generation is zero to none. In addition:

They need to consider the escalating carrying costs of the "investment." (Taxes, utilities, insurance, HOA fees)

They need to consider increased maintenance and upkeep costs of a vacation "investment" near the Gulf (painting, hurricane protection, painting, trashing/theft by renters, painting).

They need to consider the short vacation rental window of the Panhandle.

They need to consider the overabundance/competition for the rental dollars.

They need to consider the reduction of public beach access & use.

They need to consider the reduced demand for 2nd homes due to higher credit standards.

They need to consider the implications of beach erosion on the future value of the home as an "investment" and vacation location.

They need to consider the lost opportunity costs in vacation time/money that can be better spent seeing other places around the world or using the money for other purposes.

They need to consider the possibility that the argument for "not being able to afford a beach home later" cuts both ways. Yes, the prices can go up--but also, your ability to cover carrying costs and the monthly nut for the home can also go down (something many people who are in the bind now never fully considered).

Too many "average Joes" became RE investulators--they should never have been able to get into the game. As a result of the RE frenzy and easy money, too many "average Joes" had easy access to cash (store front mortgage brokers, fly-by-night Realtors, and shifty contractors come to mind) and credit (going to HELOC in a handbasket) which allowed them to vacation in "upscale" resorts and "purchase" homes/condos/land in those resorts--that's ovah. Aside from one's primary house, the majority of folks shouldn't or don't need to "invest" in physical RE. If one has lots of cash laying around in drawers gathering dust...by all means, dust it off and buy a beach home to enjoy; and if you don't, save up a few bucks and take a vacation a couple times every year and let the owners of the condo/home worry about all the above.
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Uh...wow! I can only speak for my family when I say we are taking this very seriously. We fell in love with 30-A the first time we saw it in 2004. Since then we've watched the market and each year we shake our heads wondering "what do all of these people do?" Our family makes a good living (at least we think so) and a second home of this caliber is a daunting choice. We've finally reached a point where we are now considering just taking the plunge and moving down... another daunting choice. It's a lifestyle we dream about. I enjoy getting the opinions from people who know and love the area as well as live there. I appreciate your passion and the large dose of reality. It is my belief we will make a decision that works for us. I am also a believer in striving for dreams. This is ours.

In the mean time, are you seeing movement? I still find the prices in some areas very high. I understand they are much lower than in recent years, but they still feel high. So maybe I am just a buyer wanna be who is hoping for the impossible.... a further drop in prices. Any opinion.... I know you have one. I'd enjoy it!
 
Inventory is high and prices are all over the board. Many of the properties on the market today, IMHO are over priced for the current market. If these properties were to be taken off the market then we would have a realistic picture of the true market and inventory. There are many reasons for this going all the way back to the "buying frenzy" and "runaway appreciation" of 2003 / 2004. Many sellers bought at the height of the market and can't afford to sell at today’s prices due to cash outlay or outstanding mortgages. Many of the sellers that can afford to sell, do. That, the short sales and foreclosures are what we are seeing moving. Some that can afford to sell still have their prices out of market. I had a listing where the seller could afford to sell at market but kept the price high with the comment "bring me an offer". Problem is nobody was even looking due to the price, and they are still priced higher than the last comparable sale (not my listing any more!). Here is what makes no sense; a condo in Santa Rosa Beach (my listing) sold for $299,000, there are 6 other listings in the same building, all on lower floors listed from $310,000 to $395,000 - go figure! This is the case with many properties.

I also had the same dream in 1980 that you have, to move to the beach. I made the move in 2004 and have never regretted the decision. You are right, it is a lifestyle and when the time is right you will know.

My advice to you is do your due diligence and / or work with a Realtor that will do it for you so you can realize your dream. Best of luck to you!
 
Sully said:
Inventory is high and prices are all over the board. Many of the properties on the market today, IMHO are over priced for the current market. If these properties were to be taken off the market then we would have a realistic picture of the true market and inventory. There are many reasons for this going all the way back to the "buying frenzy" and "runaway appreciation" of 2003 / 2004. Many sellers bought at the height of the market and can't afford to sell at today?s prices due to cash outlay or outstanding mortgages. Many of the sellers that can afford to sell, do. That, the short sales and foreclosures are what we are seeing moving. Some that can afford to sell still have their prices out of market. I had a listing where the seller could afford to sell at market but kept the price high with the comment "bring me an offer". Problem is nobody was even looking due to the price, and they are still priced higher than the last comparable sale (not my listing any more!). Here is what makes no sense; a condo in Santa Rosa Beach (my listing) sold for $299,000, there are 6 other listings in the same building, all on lower floors listed from $310,000 to $395,000 - go figure! This is the case with many properties.

I also had the same dream in 1980 that you have, to move to the beach. I made the move in 2004 and have never regretted the decision. You are right, it is a lifestyle and when the time is right you will know.

My advice to you is do your due diligence and / or work with a Realtor that will do it for you so you can realize your dream. Best of luck to you!
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That's exactly what seems to be going on from where I'm watching.... crazy! Thanks for your support. Not sure when we'll actually get there, but we won't give up!
 
Shelly all what you say is true. In my case after vacationing on 30-a for 19 years and watching prices go wild for 10 of those years i started my search last summer. I knew i would only buy if i got a once in alifetime type deal. a steal of all steals. I t came around a few months ago and i jumped in seconds. $165 a square foot fully furnished high end home 4 minute walk to the beach in awesome condition. To this day i've hardly seen a deal that close to the beach in a great neighborhood beat it. I knew i couldn't get hurt so i jumped.. i'l basically spend 4 months of the year there and not rent. in the next 10 years i'll retire there. yes there are great expenses but the joy it brings my family and the quality family time we have is priceless. SHELLY I ASK AGAIN DO YOU LIVE ON 30-A AND IF NOT DO YOU LIVE ON THE PANHANDLE?
 
Bobby J said:
Not going to get an answer on that one Ray. My bet would be Shelly lives on or near 30A. Rumor has it she/he washes dishes at cafe 30A.
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I heard that too. I also heard that SHELLY sings backup for Red sometimes. There was also a rumored SHELLY sighting at the second sandbar by
mikecatadjuster but he didn't have his camera with him- shucks...

:clap:
 
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