And slightly worse than Flint, Mich.
http://images.businessweek.com/ss/07/12/1210_bestworst_housing/index_01.htm?campaign_id=yhoo
Replies
32
Skunky
we are so not Destin, Ft Walton or Crestview;-)
Beach FanaticAuthor
You got me there 
.
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Beach Fanatic
That's for one year. #3 overall in 5 year price appreciation! I'll take that.
SoWal Insider
That's it! Everyone leave.....now!
Beach Fanatic
Bummer. Here in Ann Arbor we've only gained a little over 2% in 5 years or so and are the #15 worst market. We have Ford and other auto companies laying people off and Pfizer closing the Ann Arbor plant. Fortunately, we bought into this market in 91 and love the quality of life here regardless of home prices. There was a time in the 90s during which people would knock on doors of homes asking if the people wanted to sell because the neighborhood was so hot and houses often didn't even have to go through a realtor to sell quickly. Things often sold by word of mouth.
I just saw today, though, that Ann Arbor is #10 on the list of best places for kids to go to school (and 35% of our town is made up of undergraduate and graduate students). Though I think SoWal schools get better ratings (Ann Arbor has a B for quality of schools, but was rated high probably because of all the other educational experiences available - libraries, university, etc.).
I just saw today, though, that Ann Arbor is #10 on the list of best places for kids to go to school (and 35% of our town is made up of undergraduate and graduate students). Though I think SoWal schools get better ratings (Ann Arbor has a B for quality of schools, but was rated high probably because of all the other educational experiences available - libraries, university, etc.).
Edited
SoWal Expert
From the article:
Worst Housing Markets
No. 18
Fort Walton Beach-Crestview-Destin, Fla.
Population: 180,291
Median home price: $210,000*
One-year change: –6.63%
Five-year change: 86.89%
I am wondering how an area reported to be No. 18 on the Worst Housing Markets, has a five year return of 86.89%. Most people would call that kind of return, "great."
Worst Housing Markets
No. 18
Fort Walton Beach-Crestview-Destin, Fla.
Population: 180,291
Median home price: $210,000*
One-year change: –6.63%
Five-year change: 86.89%
I am wondering how an area reported to be No. 18 on the Worst Housing Markets, has a five year return of 86.89%. Most people would call that kind of return, "great."
Beach Lover
what have you done for me lately syndrome
Beach Fanatic
From the article:
Worst Housing Markets
No. 18
Fort Walton Beach-Crestview-Destin, Fla.
Population: 180,291
Median home price: $210,000*
One-year change: ?6.63%
Five-year change: 86.89%
I am wondering how an area reported to be No. 18 on the Worst Housing Markets, has a five year return of 86.89%. Most people would call that kind of return, "great."
It's all about perception.....
Beach Fanatic
I would think we would rate number one with a 133% increase in foreclosures. We even have the white sand. What is the deal?
SWGB
At least they used a better picture. I'd be embarassed if I lived in Port Saint Lucie:
SoWal Insider
From the article:
Worst Housing Markets
No. 18
Fort Walton Beach-Crestview-Destin, Fla.
Population: 180,291
Median home price: $210,000*
One-year change: –6.63%
Five-year change: 86.89%
I am wondering how an area reported to be No. 18 on the Worst Housing Markets, has a five year return of 86.89%. Most people would call that kind of return, "great."
On the other hand....did the area wages go up 86.89% in five years? Housing prices are usually a function of local wages. Maybe they see that as an indication of how far the market needs to correct as it reverts to the mean.
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Edited
Beach Lover
On the other hand....did the area wages go up 86.89% in five years? Housing prices are usually a function of local wages. Maybe they see that as an indication of how far the market needs to correct as it reverts to the mean.Nice Negative spin Mr. Shelly. (Housing prices are usually a function of the local wages) the key word is usually. Most of the appreciation comes from being one of the most beautiful places in the good old USA. I don?t think the wages are the best indicator to use.
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SoWal Expert
Nice Negative spin Mr. Shelly. (Housing prices are usually a function of the local wages) the key word is usually. Most of the appreciation comes from being one of the most beautiful places in the good old USA. I don’t think the wages are the best indicator to use.Especially in a tourist market. Nice try Shelly, but SoWal isn't a typical town where wages affect housing prices. With average household income in WalCo being around $44K per year, I'm guessing you think the avg home price in our area will be $135K.
Edited
Beach Fanatic
Especially in a tourist market. Nice try Shelly, but SoWal isn't a typical town where wages affect housing prices. With average household income in WalCo being around $44K per year, I'm guessing you think the avg home price in our area will be $135K.
I'll take two....
Beach Fanatic
you can't always be # 1.....
....;-)
....;-)SoWal Insider
At least they used a better picture. I'd be embarassed if I lived in Port Saint Lucie:
His forward press is good...weight on the left side.....no black socks,....good, hope he's on the practice green because he's not away,........needs to cut back on the waffle fries at Chick-Fil-A.
SoWal Insider
Nice Negative spin Mr. Shelly. (Housing prices are usually a function of the local wages) the key word is usually. Most of the appreciation comes from being one of the most beautiful places in the good old USA. I don’t think the wages are the best indicator to use.
Most of the appreciation came from "investulating" and were a function of "Don't Ask, Don't Tell" loans.
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Edited
SoWal Insider
Especially in a tourist market. Nice try Shelly, but SoWal isn't a typical town where wages affect housing prices. With average household income in WalCo being around $44K per year, I'm guessing you think the avg home price in our area will be $135K.
Stats in the article came from Ft Walton & Crestview--where selling/marketing/building real estate is no longer the industry that it had been over the past couple of years.
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SoWal Expert
Stats in the article came from Ft Walton & Crestview--where selling/marketing/building real estate is no longer the industry that it had been over the past couple of years.If you want to get technical, Destin was also included, according to the article. Still, I ask the question, what is wrong with 80%+ returns over five years?
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SoWal Insider
If you want to get technical, Destin was also included, according to the article.
To those who bought during the bubble (which is a goodly majority), Destin is toast.
Still, I ask the question, what is wrong with 80%+ returns over five years?
Ask the folks who are trying to sell now in order to reap those "80% returns." (Here's a list: http://www.destin123.com/index.htm)
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Edited
SoWal Expert
To those who bought during the bubble, Destin is toast.I find it interesting that Destin, Crestview and Ft Walton are listed in the worst places to invest, and Panama City was recently listed as one of the best places to invest. Add to that, JOE getting a top ten stocks to buy. The time when you buy has a lot to do with one's perception. Now that prices are well off the highs, it may be a very good time to buy.
Ask the folks who are trying to sell now in order to reap those "80% returns."
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SoWal Insider
Now that prices are well off the highs, it may be a very good time to buy.
"Now is a good time to buy?":scratch: When did I hear that before?
[In this world nothing is certain except Death, Taxes and Realtors Claiming 'Now' is a Great Time to Buy Real Estate - Ben Franklin]
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Edited
SWGB
His forward press is good...weight on the left side.....no black socks,....good, hope he's on the practice green because he's not away,........needs to cut back on the waffle fries at Chick-Fil-A.
SoWal Expert
"Now is a good time to buy?":scratch: When did I hear that before?Shelly, when you heard that, were the asking prices at historical highs? Now, there are some prices which are 40% off the high selling prices.
SoWal Insider
Shelly, when you heard that, were the asking prices at historical highs? Now, there are some prices which are 40% off the high selling prices.
Let's see :scratch: when did I hear that statement uttered by Realtors before?
"Now is a great time to buy Florida real estate......
...because it is a bargain compared to the other 49 states.
...because they're not making any more land.
...because it always goes up and has a better return than stocks.
...because it is a great investment--you can't live in a stock certificate.
...because there are 70 million Baby Boomers looking to buy this 500sf condo.
...because interest rates are at a 40-year low!
...because it's the best place to grow your kid's college fund.
...because it will double in value next year (week or month).
...because you'll be priced out if you don't buy NOW!
...because interest rates are going to be higher in the coming months.
...because there are some great bargains that won't last long.
...because there is so much inventory that you've got a great selection.
...because prices will start going up when Spring '07 arrives.
...because prices will start going up when the snow birds arrive.
...because there is a HUGE selection and you can pick your dream home.
...because some prices are 40% off the high selling price.
...because I need a new pair of shoes.
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Edited
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