Back to Real Estate

18th out of 20 at Businessweek

elgordoboy avatar
elgordoboyBeach Fanatic
5,099 views
And slightly worse than Flint, Mich.
http://images.businessweek.com/ss/07/12/1210_bestworst_housing/index_01.htm?campaign_id=yhoo

Replies

32
30A Skunkape avatar
30A SkunkapeSkunky
#2
we are so not Destin, Ft Walton or Crestview;-)
elgordoboy avatar
elgordoboyBeach FanaticAuthor
#3
You got me there 😀.
drsvelte avatar
drsvelteBeach Fanatic
#4
That's for one year. #3 overall in 5 year price appreciation! I'll take that. 😀
Bob avatar
BobSoWal Insider
#5
That's it! Everyone leave.....now!
Paula avatar
PaulaBeach Fanatic
#6
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.).

Edited

Smiling JOe avatar
Smiling JOeSoWal Expert
#7
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."
jlweathersBeach Lover
#8
what have you done for me lately syndrome
Bobby J avatar
Bobby JBeach Fanatic
#9
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."

It's all about perception.....
Babyblue avatar
BabyblueBeach Fanatic
#10
I would think we would rate number one with a 133% increase in foreclosures. We even have the white sand. What is the deal?
Matt J avatar
Matt JSWGB
#11
At least they used a better picture. I'd be embarassed if I lived in Port Saint Lucie:

SHELLY avatar
SHELLYSoWal Insider
#12
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."

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.




.

Edited

00seer00Beach Lover
#13
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.




.
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.
Smiling JOe avatar
Smiling JOeSoWal Expert
#14
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.
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.

Edited

Bobby J avatar
Bobby JBeach Fanatic
#15
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.


I'll take two....
Hop avatar
HopBeach Fanatic
#16
you can't always be # 1.....:idontno:....;-)
Bob avatar
BobSoWal Insider
#17
At least they used a better picture. I'd be embarassed if I lived in Port Saint Lucie:


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.
SHELLY avatar
SHELLYSoWal Insider
#18
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.

Most of the appreciation came from "investulating" and were a function of "Don't Ask, Don't Tell" loans.




.

Edited

SHELLY avatar
SHELLYSoWal Insider
#19
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.

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.


.
Smiling JOe avatar
Smiling JOeSoWal Expert
#20
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.


.
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?

Checking your forum account

Please wait while we verify your forum account.

New posts