18th out of 20 at Businessweek

Discussion in 'Real Estate' started by elgordoboy, Dec 15, 2007.

  1. elgordoboy

    elgordoboy Beach Fanatic

    Joined:
    Feb 9, 2007
    Messages:
    2,305
    Likes Received:
    380
    Location:
    I no longer stay in Dune Allen
  2. 30A Skunkape

    30A Skunkape Mr. Small Box

    Joined:
    Jan 18, 2006
    Messages:
    9,967
    Likes Received:
    1,814
    Location:
    Backatown Seagrove
    we are so not Destin, Ft Walton or Crestview;-)
     
  3. elgordoboy

    elgordoboy Beach Fanatic

    Joined:
    Feb 9, 2007
    Messages:
    2,305
    Likes Received:
    380
    Location:
    I no longer stay in Dune Allen
    You got me there :D.
     
  4. drsvelte

    drsvelte Beach Fanatic

    Joined:
    Jul 12, 2005
    Messages:
    305
    Likes Received:
    3
    Location:
    Sandestin & Red Stick
    That's for one year. #3 overall in 5 year price appreciation! I'll take that. :D
     
  5. Bob

    Bob SoWal Insider

    Joined:
    Nov 16, 2004
    Messages:
    10,434
    Likes Received:
    1,248
    Location:
    O'Wal
    That's it! Everyone leave.....now!
     
  6. Paula

    Paula Beach Fanatic

    Joined:
    Jan 25, 2005
    Messages:
    3,747
    Likes Received:
    221
    Location:
    Michigan but someday in SoWal as well
    Bummer. Here in Ann Arbor we've only gained a little over 2% in 5 years or so and are the #15 worst market. We have Ford and other auto companies laying people off and Pfizer closing the Ann Arbor plant. Fortunately, we bought into this market in 91 and love the quality of life here regardless of home prices. There was a time in the 90s during which people would knock on doors of homes asking if the people wanted to sell because the neighborhood was so hot and houses often didn't even have to go through a realtor to sell quickly. Things often sold by word of mouth.

    I just saw today, though, that Ann Arbor is #10 on the list of best places for kids to go to school (and 35% of our town is made up of undergraduate and graduate students). Though I think SoWal schools get better ratings (Ann Arbor has a B for quality of schools, but was rated high probably because of all the other educational experiences available - libraries, university, etc.).
     
    Last edited: Dec 15, 2007
  7. Smiling JOe

    Smiling JOe SoWal Expert

    Joined:
    Nov 18, 2004
    Messages:
    31,648
    Likes Received:
    1,771
    From the article:

    Worst Housing Markets
    No. 18
    Fort Walton Beach-Crestview-Destin, Fla.

    Population: 180,291

    Median home price: $210,000*

    One-year change: –6.63%
    Five-year change: 86.89%

    I am wondering how an area reported to be No. 18 on the Worst Housing Markets, has a five year return of 86.89%. Most people would call that kind of return, "great."
     
  8. jlweathers

    jlweathers Banned

    Joined:
    May 2, 2007
    Messages:
    96
    Likes Received:
    0
    what have you done for me lately syndrome
     
  9. Bobby J

    Bobby J Beach Fanatic

    Joined:
    Apr 18, 2005
    Messages:
    4,043
    Likes Received:
    599
    Location:
    Blue Mountain beach
    It's all about perception.....
     
  10. Babyblue

    Babyblue Beach Fanatic

    Joined:
    Mar 1, 2006
    Messages:
    528
    Likes Received:
    6
    Location:
    Seagrove Beach
    I would think we would rate number one with a 133% increase in foreclosures. We even have the white sand. What is the deal?
     
  11. Matt J

    Matt J SWGB

    Joined:
    May 9, 2007
    Messages:
    21,912
    Likes Received:
    2,202
    At least they used a better picture. I'd be embarassed if I lived in Port Saint Lucie:

    [​IMG]
     
  12. SHELLY

    SHELLY SoWal Insider

    Joined:
    Jun 13, 2005
    Messages:
    5,775
    Likes Received:
    802
    On the other hand....did the area wages go up 86.89% in five years? Housing prices are usually a function of local wages. Maybe they see that as an indication of how far the market needs to correct as it reverts to the mean.




    .
     
    Last edited: Dec 16, 2007
  13. 00seer00

    00seer00 Beach Lover

    Joined:
    Oct 12, 2006
    Messages:
    112
    Likes Received:
    3
    Location:
    PCB
    Nice Negative spin Mr. Shelly. (Housing prices are usually a function of the local wages) the key word is usually. Most of the appreciation comes from being one of the most beautiful places in the good old USA. I don?t think the wages are the best indicator to use.
     
  14. Smiling JOe

    Smiling JOe SoWal Expert

    Joined:
    Nov 18, 2004
    Messages:
    31,648
    Likes Received:
    1,771
    Especially in a tourist market. Nice try Shelly, but SoWal isn't a typical town where wages affect housing prices. With average household income in WalCo being around $44K per year, I'm guessing you think the avg home price in our area will be $135K.
     
    Last edited: Dec 16, 2007
  15. Bobby J

    Bobby J Beach Fanatic

    Joined:
    Apr 18, 2005
    Messages:
    4,043
    Likes Received:
    599
    Location:
    Blue Mountain beach

    I'll take two....
     
  16. Hop

    Hop Beach Fanatic

    Joined:
    Oct 1, 2006
    Messages:
    2,230
    Likes Received:
    182
    Location:
    Dune Allen
    you can't always be # 1.....:dunno:....;-)
     
  17. Bob

    Bob SoWal Insider

    Joined:
    Nov 16, 2004
    Messages:
    10,434
    Likes Received:
    1,248
    Location:
    O'Wal
    His forward press is good...weight on the left side.....no black socks,....good, hope he's on the practice green because he's not away,........needs to cut back on the waffle fries at Chick-Fil-A.
     
  18. SHELLY

    SHELLY SoWal Insider

    Joined:
    Jun 13, 2005
    Messages:
    5,775
    Likes Received:
    802
    Most of the appreciation came from "investulating" and were a function of "Don't Ask, Don't Tell" loans.




    .
     
    Last edited: Dec 16, 2007
  19. SHELLY

    SHELLY SoWal Insider

    Joined:
    Jun 13, 2005
    Messages:
    5,775
    Likes Received:
    802
    Stats in the article came from Ft Walton & Crestview--where selling/marketing/building real estate is no longer the industry that it had been over the past couple of years.


    .
     
  20. Smiling JOe

    Smiling JOe SoWal Expert

    Joined:
    Nov 18, 2004
    Messages:
    31,648
    Likes Received:
    1,771
    If you want to get technical, Destin was also included, according to the article. Still, I ask the question, what is wrong with 80%+ returns over five years?
     

Share This Page