Beachlover2 said:
Ditto BL2 and kudos to Paula.
Just Got An Email From A Realtor
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Ditto BL2 and kudos to Paula.
I own a home in Water's Edge at Seacrest and I am also soon to be an owner of a Seychelles condo in PCB! There are a number of them on the market right now, but I signed for $273,000 two years ago and plan on closing it, having already put 20% down. I'm figuring at that price it will come close to being cash flow neutral and in 10 years will be worth a bit more, hopefully! As for hurricanes, I own a condo in Gulfport as well -- the good news is that it's still standing........the bad news is that it's still not repaired! We have lots to be thankful for in SoWal given the hurricane history over the past few years!
I figure that most of us who have invested our hearts and money in SoWal are very happy and knew what we were getting into (market ups and downs, hurricanes) when we bought in. As for me, I didn't realize just how dear this place would become to us and what good friends we'd make in a short period of time. It sure seems that good things come to people who look for good (and who make wise choices).
By the way, if I didn't have the property in SoWal (and the mortgages!) I'd be looking into PCB as well. I stayed there (west end) for a few nights last year and thought it had real potential. The beach was gorgeous. Of course, I would do my well-rounded "homework" first. We go to PCB more often than we get to Destin because we're on the east side of 30A.
PS, Chuck: Sorry about your place in Gulfport. Hope it gets repaired soon. What have you learned about hurricanes that you could share with us given that your place went through such a nasty one?
By the way, if I didn't have the property in SoWal (and the mortgages!) I'd be looking into PCB as well. I stayed there (west end) for a few nights last year and thought it had real potential. The beach was gorgeous. Of course, I would do my well-rounded "homework" first. We go to PCB more often than we get to Destin because we're on the east side of 30A.
PS, Chuck: Sorry about your place in Gulfport. Hope it gets repaired soon. What have you learned about hurricanes that you could share with us given that your place went through such a nasty one?
Paula--your words make financial sense and are indicative of the folks who know and love the area. But for every one like you...there are 100's of the "other kind." (Tell me that isn't so?)
It's been sad watching what greed has done to Florida and many other places over the last couple years--I'm glad it's finally coming to an end. Far too much damage has been done, so fast, that will never be undone.
It's been sad watching what greed has done to Florida and many other places over the last couple years--I'm glad it's finally coming to an end. Far too much damage has been done, so fast, that will never be undone.
SHELLY said:
SHELLY, I have no data to argue your theory of "100's of the 'other kind'", but I would like to try and understand your post. Are you saying that for every Paula and Sueshore (and many others on this board) there are 100's that have made a "bad" investment buying property in the area (BTW...right there would be over 200 of the other kind)? Are there really that many properties on 30-A? Is your point that these "100's" of investors have driven up the price on 30-A and will not see a huge profit? You are entitled to your opinion, but I don't understand the one note quality of your posts. People make bad decisions everyday with their money. How has this affected you? Instead of being so sad, I would like to suggest you take a walk on the beach and take a deep breath. In fact, I invite you to meet me in April for a sunset toast...so you can meet a happy "kind" of property owner!!!
kathydwells
Darlene is my middle name, not my nickname
Sueshore said:
:clap_1: :clap_1:
She has said that she sold her property here because she saw a big fall coming. Now she can't wait for it to happen to justify her actions. To the point of spewing negativity all over this board to try and instigate behavior. Is she foolish enough to believe that development will cease? Talk about dreaming. :roll:
I read Shelly's post in a different way, and from my perspective I see some truth in it. From my point of view, I hear Shelly saying that many speculators, including builders and "developers" who saw only money when they thought of SoWal, have invested in property, ran up the market price, and who have no interest in the long term picture of what happens here. Whether they make money or not, is not the issue. The issue is that these people, like locusts, came in, ate, pooped, and stripped the land clean, and went elsewhere, looking to do the same. -- no long term investment in the infrastucture nor the people. That is just my take on Shelly's post.
I know several "investors" who came for the money, but stayed because of what they discovered. They probably never fit the category of the Locust People to begin with. The difference is that these people have a heart, longing to find a place where dreams do come true.
I know several "investors" who came for the money, but stayed because of what they discovered. They probably never fit the category of the Locust People to begin with. The difference is that these people have a heart, longing to find a place where dreams do come true.
Sueshore said:
I'm not sure about hundreds and hundreds at this point in time. But, there are numerous properties, primarily lots, that are now listed at below the sellers purchase price. Most are in the new communities that had relatively recent runups in prices like Watercolor and Watersound. My realtor hasn't seen a sale at a loss yet, but there will be many, many losses once the speculators unload their bad investments. Prices continue to fall and inventory continues to build.
If you are looking to buy, hold out for a while, or simply make a lowball offer on properties until a seller decides to unload.
RiverOtter said:
Do a quick search on the MLS for PCB condos and you will find several of gulf front units for sale for under $300k, and many more from $300k to $350k. Many of these are in brand new complexes yet to be completed. The original buyers are likely attempting to duck and run before they have to close on a unit they might not be able to afford. In total, there are over 650 gulf front condos available in PC and the number is rising everyday.