My niece is down in the Panhandle now, married to a Marine, near Pensacola. She’s got a pretty high-dollar job, and they bought a big house early in Covid (they really timed it right). Prior to Covid, that probably didn’t happen, but with everyone working remotely now, it does.
And a lot of people saw all the urban riots the Dems orchestrated over the last few years and said “time to get out of the big cities!”
I live in the area ad it is astounding at the housing prices here. On my front porch I literally have people stop by and offer to buy.
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was there 25 years and there again last summer
Lots of growth and much more family oriented as far as a vacation spot
one of the locals told me “the secret got out”
It’s a problem all along the Gulf Coast. Destin, Ft. Walton Beach, Pensacola and South Walton County.
Real estate prices have skyrocketed ever since the wealthy ‘discovered’ our secret.................
Similar shyt happened when so many Kalifornicators were moving to Utah in the 90s. It settles out eventually.
We helped our son buy a house on the front range in 2019. It’s gone up in price 40%. When we bought our friends and family said we were buying the bubble. Could still collapse. Oh well. Nice view of Longs Peak.
My sister & BIL live in Panama City (the city not the beach area) in a planned community near a bay. They are not waterfront, but pretty close. They built the house in 2017, 2300sf, two story and paid $286,000 at the time which included appliances and upgrades. Sold it this year for $540,000. Pretty nice appreciation in 5 years.
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Makes sense. You sell your house for 1.5 million in Connecticut and a house in Florida is 250. You want it badly and offer 320 for it. Why not?
I sold two homes this past year and bought what I hope will be my last. Sale prices were great for once in my life.
Where ever anyone is I hope that they are (1) in a home they can maintain on a fixed mortgage or, in a paid for home they can maintain without a mortgage. Renting in a time like this is leaving yourself open to disastrous inflation damage.
“I saw... his thoughts. I saw what they’re planning to do. They’re like locusts, they’re moving from planet to planet, their whole civilization. After they’ve consumed every natural resource, they move on. And we’re next.” -President Thomas Whitmore
I bought a small lot in Wewa a few months before hurricane Michael to put an RV on.
Glad I did it then.
One of my best friends bought a house in Gulf Breeze (nice suburb of Pensacola) in 2006 and sold it in 2010 for about $165K if memory serves. The military actually did him a solid and gave him a little because the house had gone down in value from when he bought it. I looked up that exact house on Zillow.
It says the last time it sold was 2019 for $350K and its now valued at 498K. So it more than tripled in price in 12 years. Incredible.
The same thing happened in Honolulu in the eighties. It got so bad that some legacy families could no longer afford the property taxes on the inflated value of their homes.
It’s happening here right now. Compared to California, homes and land are dirt cheap. Outsiders are bidding up the prices so the soon local young people will not be able to afford a house.
Been saying the same thing for over a year. And was ridiculed for even suggesting that folks from out of state would even consider moving to little ‘ole central Alabama.
But the truths the truth. Housing prices are up here over 40%. It’s crazy. But for people that pay 15,000 a year, or more for property taxes in Illinois, California, New York paying twice what a property was worth here 2 years ago seems like a bargain.
I don’t like it. As an old Realtor said to me “real estate is local”. Until it isn’t
That’s one of the penalties for living in the Free State of Florida!
That said, this is true everywhere. Housing inventory is very low everywhere , especially in the South, TX and and even SD, and basically in places that have had a large inflow of people from the left coasts.
My daughter is a realtor in SC and just can’t find houses for people. There can be 20 over-asking price offers in no time at all.
The only thing I don’t like is when investors are buying them for VRBOs.
I understand. I own two homes in the Tampa Bay area - and today - so far - I haven’t received a phone call from someone wanting to buy one or both of ‘em. Of course the day’s not over yet...
Looked at a few places in FL and what was going for just $50K - $60K in 2019 and 2020 are now priced upwards of $150k-$175k
They should at least be thankful that their asset is appreciating at fast rates.