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Have Real Estate Sales Stopped on Gulf Coast Yet?
Posted on 5/20/10 at 10:29 am
Posted on 5/20/10 at 10:29 am
I wonder how long it will take for the home values to recover from this? Oil will be coating the beaches for at least the next 6 months.
2
Posted on 5/20/10 at 10:51 am to TenTex
Meh. They sucked anyway because of oversupply, mortgage crisis, crappy economy, and expensive as da frick waterfront insurance.
Mine has been on the market since December. 4 people have called about it. None have looked at it.
Mine has been on the market since December. 4 people have called about it. None have looked at it.
Posted on 5/20/10 at 11:01 am to TenTex
quote:
I wonder how long it will take for the home values to recover from this? Oil will be coating the beaches for at least the next 6 months.
my father-in-law and i have been scheming about getting a little place on OB or GS. i'm going to have him call our realtor tomorrow and get an update.
Posted on 5/20/10 at 11:03 am to Alatgr
that's bleak. we looked at a 4BR/3BA house in that development that backs up to the shopping center in OB--can't remember what it's called, but you can actually see the gulf from the front yard. anyway, it sold for like $230K or something. insurance wasn't too bad and hoa was only $250. I'm thinking if that sort of place comes down in the $100s, it MIGHT be worth picking up, but it's obviously a huge risk. plus, you can probably rent down there right now for a song, so hardly worth it to buy.
Posted on 5/20/10 at 11:26 am to McLemore
Conjecture on that they'll be having oil for the next 6 months or even at all.
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