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SlowMovin

Beach Fanatic
Jul 9, 2005
485
42
Dabell said:
What is wrong here?
In stock market terms, we are seeing what they call a "profit taking correction", albeit one that is being fueled with a little buyer skepticism...won't last, IMHO.

The should not be taken to mean that I consider real estate markets and the stock market to behave the same. They have their similarities, but they have their differences, too. I just think we're seeing a similar psychology on the part of buyers and sellers as you do when anything (stocks, properties, currencies, etc.) runs up real high, real fast.
 

Smiling JOe

SoWal Expert
Nov 18, 2004
31,648
1,773
About 2-3 years ago, I recall many lots in Pt Washington area with for sale signs. Price? - around $35K for 1/4 ac lot. They were everywhere. When they jumped to $40K a few months later, people were saying that there is no way they will sell. There is too much inventory, and they just paid $20K-$35K for them. Are these people crazy?

Some 1000% increase in price later (today), those lots are selling anywhere from $190K-$300K. There was a time between then and now, where you could not find a single lot with a for sale sign. My point is that real estate has cycles. One thing that drives demand is supply. When there is nothing to buy, everyone wants it. When there are too many choices, people question why everyone is selling. Maybe they know something we don't.

The time will again come when you don't see any for sale signs on those same streets. If someone wants to buy one, they will have to pay a premium. Then the whole vicious cycle goes around again.
 

SHELLY

SoWal Insider
Jun 13, 2005
5,770
802
Dabell said:
I do not understand why, with the beaches so beautiful down in South Walton why are the prices of homes going down? Is it the schools? Is it No high paying jobs? In South FL anything By, next to or on the water, never stops going down in price. What is wrong here?

People who "invest" and live in the area assume that everyone in the entire world thinks as they do--that the beach is heaven on earth. That narrow-minded approach works for the developers trying to push their projects, but doesn't apply to the entire world population.

Believe it or not, there are people who prefer the rolling green hills of Kentucky, mountains of Colorado, deserts of Arizona, lakes of Minnesota, mesas of New Mexico or city lights of New York to some hot, sticky, dog-fly-biting, hurricane sucking beach (their words, not mine). And not all of them would swap their current locale for retirement in a cement condo crowded along the concrete canyon/parking lot that is Destin or PCB (contrary to what developers are touting in their slick pre-construction brochures and rah-rah parties).

One person's paradise is another person's hell on earth. "Investors" need to keep that in mind before taking out their next Option ARM--whereas people who plan on making a home and raising a family here should not be concerned what other people think.
 
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Rita

margarita brocolia
Dec 1, 2004
5,209
1,634
Dune Allen Beach
SHELLY said:
.....

Believe it or not, there are people who prefer the rolling green hills of Kentucky, mountains of Colorado, deserts of Arizona, lakes of Minnesota, mesas of New Mexico or city lights of New York to some hot, sticky, dog-fly-biting, hurricane sucking beach (their words, not mine).

:doh: :nono1: Shelly hasn't been keeping up with the "October" threads.
Go for it girl, you tell them! But you forgot the gators, skeeters, and plenty of other October negatives.
 

Miss Kitty

Meow
Jun 10, 2005
47,017
1,131
69
Rita said:
:doh: :nono1: Shelly hasn't been keeping up with the "October" threads.
Go for it girl, you tell them! But you forgot the gators, skeeters, and plenty of other October negatives.


Thanks for reminding Shelly of the rest of the horrors, Rita!!! You are a class act!
 

SlowMovin

Beach Fanatic
Jul 9, 2005
485
42
In all seriousness, I know of four different families in the last two years that moved to SoWal, to be permanent residents (NOT second-homers) and moved back shortly afterwards. One couple only lasted six months.
 

iwishiwasthere

Beach Fanatic
Jul 12, 2005
2,875
36
Tennessee
Why? My husband and I considering moving from our present location and wanted to know the pitfalls...any advice? We were thinking south or east. We are just ready for different vistas.
 

Camp Creek Kid

Christini Zambini
Feb 20, 2005
1,278
124
52
Seacrest Beach
SlowMovin said:
In all seriousness, I know of four different families in the last two years that moved to SoWal, to be permanent residents (NOT second-homers) and moved back shortly afterwards. One couple only lasted six months.


And I know at least 20 different families in the last four years that moved to SoWal to be permanent residents and they LOVE it here. Maybe your friends were expecting to move here and be on a permanent vacation. Reality Check! You still have to grocery shop, do the laundry, work, take kids to soccer practice, and, depending on where in SoWal you live, you have to drive quite a bit. At least you can do all those things in SoWal!
 

Smiling JOe

SoWal Expert
Nov 18, 2004
31,648
1,773
SlowMovin said:
In all seriousness, I know of four different families in the last two years that moved to SoWal, to be permanent residents (NOT second-homers) and moved back shortly afterwards. One couple only lasted six months.

Yes, please tell us the circumstances of each family as to their reasons for moving.
 

SlowMovin

Beach Fanatic
Jul 9, 2005
485
42
Camp Creek Kid said:
Maybe your friends were expecting to move here and be on a permanent vacation.
Definitely the case for a couple of them. The others claimed they could never find any kind of serious work (although I question how seriously they tried). Two of them found work as housecleaners for a while, but didn't like it much and finally went back to the corporate thing in Atlanta.

If you're gonna move here, you better be entrepreneurial. You can't just show up and go to work 9-5 somewhere with a big paycheck and benefits. Not yet, anyway. Down here, you pretty much make your own life. Good or bad, it's up to you.

On Edit: One other couple I know who did the same thing had some legitimate concerns about telecommuting with an office located in the DC area, and moved back for that reason. Can't really put them in this group.
 
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