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PTWizard

Beach Lover
Jan 17, 2005
80
0
Columbus, OH
The real estate market goes both ways, up and down. I can see what has happend to real estate values in South Walton and I agree, in some places selling prices are down as much as 50%. But, just as in the rapidly appreciating markets of 2003 and 2004, past performance is not necessary a predictor of future performance. The economy is still growing, interest rates are relatively low and may actually fall in 2007 so who's to say the local real estate market will not turn around this year. I think the people who point out the beauty of the area, the new airport and other unique qualities are simply trying to remember why, over the last 30+ years, real estate in this area has been, and I believe will continue to be, such a great investment.

Just for perspective, if you bought a gulf front lot at Paradise by the Sea 10 years ago you would have paid about $250,000. Today, you MIGHT be able to by the same lot for $2,250,000. I'll take that kind of appreciation any day! Even if you think back only 5 years ago to 2001, and I bought property here that year, things didn't look all that great after 9/11. But, look at the amazing appreciation that has occured in the past 5 years. Even with the current correction the value of the property I bought back then has easily doubled!

Perhaps Shelly and her followers are right, the market for South Walton real estate is terrible and will take many years to recover but I seriously doubt this forecast. In fact, I strongly suspect that if you buy property in 2007 that by 2012 and 2017 you will be absolutely delighted with your decision and wonder how anyone could have been so foolish as to warn you against doing so.
 
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flyforfun

Beach Fanatic
Oct 20, 2006
311
39
Birmingham, Al
Shelly and a few other posters saw the current real estate slaughter coming in mid-2005. Well before any other posters were seeing the signs or willing to admit they saw the ominous signs of a massive downturn in the market. Since those early posts by Shelly and a couple of others that got scorched by the rest of the community, the market has in fact dropped in some places by over 50% from the high water mark. This is particularly true on lots and condos in some of the big developments like Rosemary, The Preserve, Cypress Dunes, Watercolor and Watersound.

Say what you will about Shelly and these early predicters of the significant downturn in the market, but they called it right. The market shows no signs of coming back anytime soon and the only "facts" that the bulls post to support future growth tend to be comments regarding the beauty of the area, "they aren't making any more beaches", and other generic info. The real facts related to inventory, interest rate changes, the number of people ready, willing and ABLE to buy in this market, etc.continue to point toward softness in the market.


If you predict a down market long enough, eventually you will be right. Media hype over katrina and gulf coast damaged has more to do witht his slump than anything thing else. The condo market actually slowed down after the 2004 hurricane season. Now I will make a prediction, I predict a down market in stocks as soon as we have another 9/11 or another crook gets caught cooking the books or the next big scandle in mutual funds cause no one is policing these folks. People who invest in RE for the short term better know their markets good. I bought nothing in 2004-06, but I would not hesistate to buy now! If I won the Florida lottery tommrow, I would put ever penny on property along 30-A, especially in the big developments with all the nice ammenties. Beach real estate always rebounds, and rebounds strong!
 

Bobby J

Beach Fanatic
Apr 18, 2005
4,043
599
Blue Mountain beach
www.lifeonshore.com
Fisher, I own 9 pieces of beautiful real estate in Walton County, all of which are either beach or water front, and don't own a penny! I don't help banks or mortgage companies get rich, and only work with a select few of realtors. Doodle Harris developed Seacrest Beach, and has done a ton of good for Walton County. All you have to do is read Shelly's idiotic posts to realize she is either incompetent when it comes to real estate investing or is against beach development. Personally, I think Shelly is a "he" and probably lives in a trailer park and hugs tress for excitment and pleasure.:rotfl:

:popcorn:
 

SHELLY

SoWal Insider
Jun 13, 2005
5,775
802

I'm going back to the snackbar for some Milk Duds...can I bring back anything for anyone? :D

snackbar2.jpg
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Mango

SoWal Insider
Apr 7, 2006
9,712
1,360
New York/ Santa Rosa Beach
Shelly this Board would not be the same without your insightfulness and humor even if it inspires some ire ever now and then.

Now will you bring me back some Raisinets? :razz:
 

nmosley

Beach Comber
May 9, 2006
48
0
ok... now that I know the price, I would like some Goobers. Do you think the price will drop a bit if I wait until next week to buy?
:rotfl:
It is freezing here in Houston and I am wishing I was there. Is it terribly cold this week? If so, stay warm if not, enjoy yourselves and be so glad!!!
 

SHELLY

SoWal Insider
Jun 13, 2005
5,775
802
ok... now that I know the price, I would like some Goobers. Do you think the price will drop a bit if I wait until next week to buy?

The possible increase in peanut prices will be off-set by softening Cocoa futures...so I predict Goobers will hold their price at $1.75 into next week.


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