So I guess the 2nd tier home sale on Friday in Rosemary Beach for $765/sf was way off the map, based on what you guys are saying is too much to pay for a property. What price/sf do you think it should have sold for?
thanks for pointing that out SJ. this reminds me that the wealthy are back. i was way off the map, the prices I was talking about are steal prices, and in the places like rosemary, are as far away from beach as possible, and REO's and discount to REO offer px. Those will be gone in the next few weeks.
SJ, the 2nd tier home was probably a good deal for the buyer. I invite anyone to look at homes elsewhere around the country and decide where the relative value is. I just looked at a bunch of listings of crappy homes in Park City Utah, and a run down shack is a couple million dollars there, and that's walking a quarter mile to the lifts or main st. ... that's not necessarily unreal, whats unreal is South Walton px.ing... but then again, South Walton was actually one of the first little pockets of real estate in America to take a hit in 2005 due to the insurance re-ratings following two storms in mid 04 and then again in mid 05.
Rosemary Beach is going to shock people how it bounces back. In 10 years, people are going to think Alys was under priced.
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