Considering Bluffton area (sales, real estate, insurance)

[dfrankg]

I may have an opportunity to relocate to the Bluffton area. I am somewhat familiar with the lowcountry as my parents live on Skidaway Island, GA. My biggest concern is for the stability of the local economy in the Bluffton area. Much is built on the real estate boom of the early 2000s and I'm just concerned it got overbuilt and will potentially suffer significantly since the economy tanked. Will the area continue to attract second home owners? Will the local economy continue to support those who are there? What is the 2-5 year progrnosis for the area.

Currently I am in southwest Florida. It was the fastest growning area of the country next to Las Vegas for many years. Crazy, but it continued to grow. Today the real estate bubble popped and developers are getting killed. The service based economy is getting killed as well. Country clubs are closing, restaurants, banks, small businesses are just closing left and right. I don't want to move into another malestrom.

Any advice?

[Island Bill]

Dfrankg,

Bluffton, like most of the state, got hit by the recent economic problems. There have, however, been some really positive signs recently such as new home starts are creeping up, the number of home sales in creeping up and so on. I've lived in this area for about 5 years now and really like it! If you've got any specific questions lemme know.

[dfrankg]

Thanks Island Bill.

Is there any noticable concern with the developments facing financial difficulties. I understand Berkeley Hall has a number of lawsuits flying around and I'm wondering if other developements are really struggling for their financial futures. That seems to be the case with a number of communities here in SW FL.

[Island Bill]

I'd suggest finding a few areas (communities, plantations, etc.) that are of interest to you and do some digging (or have a Realtor do some digging for you). Most of the areas will give a prospective buyer at least a summery of their financial situation and several will open their books right up to you. You'd should be able to see cash reserves, outstanding/upcoming assessments or shortfalls (ie. insurance), upcoming capital improvements and the like.

While there may be some areas out there having issues, at the same time I know that there are several plantations that are on a really solid financial footing as well.

[Coasters]

The situation you describe has occurred to some extant. How long it will take to recover, if ever, is a matter of opinion.
That said, It would still be a pretty desirable place to be transferred to with a good job.
Stay away from planned communities that are not nearly complete or have unfinished, so called "planned" amenities. Dont make a big deposit on a lot or a home. You just never know even if its a national builder.

[dfrankg]

Thanks guys. SW FL is definitely a victim of themselves. Too much development too fast. We all saw it coming but it just didn't stop for 10 years. Now most development has just stopped. Housing inventories are starting to go down but unless many more people move into our area - which is still predominantly a service-based economy built on discretionary dollars - than it will be years before many of the country clubs stabilize. There are about 125 private clubs in Lee and Collier Counties and some are on the brink of collapse. Many feel they are financially safe - of course until 50 members decide not to pay dues next year and give up their membership. There won't be 50 to take their place. It's a not-so rosy situation. I just don't want to walk into the same situation elsewhere. I gather Bluffton is somewhat like this but on a much smaller scale with maybe a better opportunity to bounce back.

[sammigirl]

hi, i am thinking of moving to bluffton. I recently found a great affordable house in the area. i love the laid back atmosphere however i also love the outdoors, can someone tell me if this area has any parks, trails for hiking and biking, and how far to the nearest beach? thanks, sammigir}

[Island Bill]

Sam, In Bluffton check out the All Joy area, Pickney Island, between the bridges, is a great place for hikes and biking.