Greetings From THE BEACH,
I’ve got to admit, the political environment for the last 6 years has been discouraging to me, and I believe investors had one eye on Washington when they considered buying beachfront property. The results of the mid term elections were the most positive development I can imagine for what is about to happen in PCB. USA is on the way back.
The feedback I receive from my newsletters has made this effort very rewarding, but one comment I have heard several times is that I tend to paint a more positive picture of the market than is warranted. If my enthusiasm seemed too optimistic, sorry, but I’m actually ready to “kick it up a notch”. The buyers of condos in the last several years have seen outstanding appreciation on their investment, and many of those buyers are original AQUA owners that cost averaged with another purchase. In fact, I’m now getting complaints because the tax bills were higher this year. Trust me, I’d like to pay $10,000 a year if the values increase that much.
This market cycle is a little more drawn out than most recoveries, see the first paragraph for that explanation. However, there is huge pent up demand for investment property and lot’s of cash ready to go to work. I’m closing on 3 condos in the next week.
My first investment property was in 1990 and after pricing a $300,000 lot in the back section of Sea Side on 30A, I bought a pre-construction condo in Orange Beach. Of course Sea Side property values blew up, but so did my condo and the returns vs the risk and capital comittment was far better. I learned something from that experience….THE 30A EFFECT. Below is an article that describes what is happening in this area. Worth the time to read it.
If you’ve been to the turn off 98 to 30A recently you can see what is happening. Retail shopping is going up everywhere and the area is exploding. The higher prices on 30A have driven prices in Destin up, and Panama City Beach is now experiencing more demand than I have seen in several years. The Beachfront Bargain Hunt episode has been great exposure and has brought me some wonderful prospects, but more importantly I’m getting calls from Destin agents wanting to see condos in AQUA. I had one buyer that made the trip over from Destin to see AQUA and it was the only building she had any interest in.
Of course rentals drive prices up also, and the owners I talk to are delighted with their rental income. I’ve got to give credit to the Tourism Bureau for expanding the shoulder season, and the fall breaks for the different states are an incredible source of income for condo owners. Great read also…..
God Bless Texas! United Airlines is offering direct flights to Houston with access to 176 direct destinations. Texans love PCB and this will expose more visitors and potential owners to our gorgeous beaches and Southern Hospitality.
news/business/united-airlines- to-take-off-from-bay-county- in-2015-1.397833?tc=cr
LOCATION, LOCATION, LOCATION! Pier Park area is fastest growing revenue for bed tax…………
news/business/tdc-watches- slow-tourism-growth-in- eastern-pcb-1.372698?tc=cr
As I have stated many times, St Joe is the engine behind what is happening and the future looks extremely bright for this area with their guidance and expertise.
St Joe master plan takes step further……..
Landscaping plans will make PCB a more welcoming environment…………
news/crime-public-safety/ landscaping-underway-on-beach- side-of-hathaway-bridge-1. 382014?tc=cr
Like craft beer? I DO………..Check out this new shop in PCB
news/business/area-s-first- growler-bar-highlights- florida-brews-video-1.387371? page=0
My best prediction is that this area is prime to explode and we will see some amazing sales activity on the beach after the first of the year. I’m ready and available to answer your questions about values or any deals I might have listed or off the market. Call me and send this information to friends or colleagues that might be considering a purchase in this area.
VISIT MY WEBSITE FOR A LINK TO ALL CONDO LISTINGS WWW.TIMFRENCH.NET