Beach House buy is on hold

[Backwards Crab]

Hello All,

I first found this site with great excitement because my husband and I have a contract on a short sale house in the Miramar Beach area and then this stupid oil......

We are at a total loss as to if we should pull out of the deal. The bank has not officially signed anything so we'd get our deposit back. We were already getting a GREAT deal on the house and we are so disappointed and don't know what to do. This would be a second home but we'd rent it as well so we really dont want to buy anything if we and others arent going to be able to enjoy it.

Any words of encouragement y'all can offer me? TIA!

 

[floridafarm]

When my daughters come inside covered head to toe with mud and sand I sometimes get upset with them. Then I spend some time cleaning them up. Then I hug and kiss them because this is a long-term relationship that a little dirt and grime can't possibly hurt.

The Emerald Coast is like one of my little girls and I'll help clean her up and continue to enjoy that long-term relationship as well.

 

[scooterbug44]

The Scooterbug Method

Figure out what the absolute worst case scenario is - if you can deal with that situation - both personally and financially, then buy the house.

That's what I do. Plan for the worst, then hope for the best - it usually falls in-between, but you are prepared either way.

 

[zip]

I say you have a good deal so buy it. If you can not rent it due to the oil spill then you sue the hell out of BP. Then you have it free and clear.

 

[Water Boy]

I say you have a good deal so buy it. If you can not rent it due to the oil spill then you sue the hell out of BP. Then you have it free and clear.

That's if BP has to pay up!

 

[Beach Runner]

Backwards Crab, buying in SoWal is a great investment. We own a home in SoWal, and when we retire, we plan to live in SoWal and have a condo in Atlanta. The oil spill hasn't changed that for us.

 

[FlutterBy]

There's a catastophe in every corner of the world, but where else is there another SoWal????
I rest my case.

 

[Bobby J]

When my daughters come inside covered head to toe with mud and sand I sometimes get upset with them. Then I spend some time cleaning them up. Then I hug and kiss them because this is a long-term relationship that a little dirt and grime can't possibly hurt.

The Emerald Coast is like one of my little girls and I'll help clean her up and continue to enjoy that long-term relationship as well.

Probably one of the best post ever on Sowal. Thank you. I needed to hear that.

 

[Geo]

Hello All,

I first found this site with great excitement because my husband and I have a contract on a short sale house in the Miramar Beach area and then this stupid oil......

We are at a total loss as to if we should pull out of the deal. The bank has not officially signed anything so we'd get our deposit back. We were already getting a GREAT deal on the house and we are so disappointed and don't know what to do. This would be a second home but we'd rent it as well so we really dont want to buy anything if we and others arent going to be able to enjoy it.

Any words of encouragement y'all can offer me? TIA!

WWSS
What Would SHELLY Say?

 

[gmarc]

Theres been very little talk from the many agents on this board onwhat has happened to sales the past 6 weeks.i thought we'd be getting weekly reports on the mindset of potential buyers. now that the oil is approaching are buyers pulling out? has traffic fallen big? will the oil cause another wave of reo's and short sales at even lower prices? the good part if inventory is way off the peak period so that could act as a buffer but if buyers freeze what happens to prices? what if no rental income for years?many question we can't answer till after the fact. i own in sowal and will be buying more if prices plummet again.its like buying bank of america at $3 in 2009