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spinDrAtl

Beach Fanatic
Jul 11, 2005
368
2
I get inquiries all the time on my sowal property from people who say they just do not like the high rises or the traffic and other things associated with them. The overbuilding in many of these areas is bringing more rentals to Sowal, which does not seem crowded to me, even during the busiest periods of the year.
 

TooFarTampa

SoWal Insider
I get inquiries all the time on my sowal property from people who say they just do not like the high rises or the traffic and other things associated with them. The overbuilding in many of these areas is bringing more rentals to Sowal, which does not seem crowded to me, even during the busiest periods of the year.

Yes. While I do feel for those who have agonized as SoWal marches toward being built out, it is good to remember that there is nothing else like it along Florida's coastline, when you consider height restrictions and -- face it -- abnormally high elevations that give all but first and second tier owners a huge storm surge protection. SoWal is rare and unique with qualities that will be even more appreciated in years to come. These market difficulties will likely take years to climb out of, but once things are in balance, watch out.

In the end, as the area matures the biggest long-term, ongoing problems are going to be parking and a lack of labor force. As has been noted by others here, the time to plan for these problems is now.
 

SHELLY

SoWal Insider
Jun 13, 2005
5,775
802
Have you seen the horror of busted balloons in front of condos? Shameful.

In the olden daze we'd worry about the sea turtles choking on the shards of spent balloons--as luck would have it, that's no longer a problem.


.
 

SHELLY

SoWal Insider
Jun 13, 2005
5,775
802
Yes. While I do feel for those who have agonized as SoWal marches toward being built out, it is good to remember that there is nothing else like it along Florida's coastline.

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hi n dry

Beach Lover
Sep 12, 2005
201
27
The condo market is ugly, but someone will own the Condos even if its the Banks and they will be rented. They wont cash flow but they will rent them buy the week for what they can get. This will Bring ALLOT of new people here for the great rental deals, this will be good for the commercial sector and a very small percentage will buy a condo for their personal use. Eventually the supply will draw down and prices will be stable. Just my opinion for what its worth.

During the last condo crash of the late 1980s there were many condos sitting vacant and deteriorating.

PCB will offer some great rental bargains which will hurt many owners there and even on 30A who hope to pay for some of their expenses by renting. There will be many vacancies.

Maybe tourist development should make this destination for all the homeless in the country.

This could be a charitable contribution to society by all the developers and real-estate agents that greatly benefited in the bye gone boom years.
 

spinDrAtl

Beach Fanatic
Jul 11, 2005
368
2
During the last condo crash of the late 1980s there were many condos sitting vacant and deteriorating.

PCB will offer some great rental bargains which will hurt many owners there and even on 30A who hope to pay for some of their expenses by renting. There will be many vacancies.

Maybe tourist development should make this destination for all the homeless in the country.

This could be a charitable contribution to society by all the developers and real-estate agents that greatly benefited in the bye gone boom years.

My contention is that this will most likely NOT hurt Sowal owners due to the type of experience sowal renters desire.

In ten years I have never had a renter tell me they were choosing a high rise over us because of price. In fact, many of our inquiries are based on our location and many are 'running' to us from the Destin area.

If there are some too good to be true prices in PCB high rises, SOME will try it once, but inevitably they will come back to sowal.
 
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hi n dry

Beach Lover
Sep 12, 2005
201
27
Please check out the "sale lists" at
http://www.waltonpa.com/

According to this data there was only one closing in December 2006.
In December 2005 there were over 300 closings.

I assume the December 2006 data is not up to date-right?

In November 2005 there were over 400 sales.
In November 2006 there were 200 sales.

We are not making much progress absorbing the excess property inventory.
 
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