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The reason for housing prices remaining stable around here is mainly that more people are relocating here year-round, so everything is stabilizing quite a bit. Some towns will, most likely, always remain seasonal, but many really do not fall into this category anymore. That makes the area less susceptible to vast fluctuations and more in line with how the rest of the state is going.
Went to a house last week to buy some used furniture..was in Stone Harbor..so just for the heck of it I wanted to study this area..the house I went to was a 2 bedroom ranch (very small) on a lot 50feet by 100feet. The house value was normal around $148K (building)..but the land blew me away...$1.25 million!!! And this is 2 blocks from the ocean..not ocean front! And no backyard dock or even water for their 75foot yacht..if they have one.
Last edited by carlo2009; 05-17-2010 at 10:37 PM..
Went to a house last week to buy some used furniture..was in Stone Harbor..so just for the heck of it I wanted to study this area..the house I went to was a 2 bedroom ranch (very small) on a lot 50feet by 100feet. The house value was normal around $148K (building)..but the land blew me away...$1.25 million!!! And this is 2 blocks from the ocean..not ocean front! And no backyard dock or even water for their 75foot yacht..if they have one.
Stone Harbor is an extremely high-value community. Some towns just, well, are. I'll never really understand what about "Alpine" is so amazing that it attracts celebrities and elites - I was there once and it looked like every other wealthy town to me.
What I will tell you is that most people who are looking to purchase a home for year-round use are specifically not looking for the ocean block. I live on a bay block about three houses from the water and (aside from the homes right on the ocean) our values are higher than the ocean block. I suppose it's nice being on the ocean block if you're on vacation for a week, but the extra traffic, noise, lack of parking, etc. isn't really the best situation if it's your regular home. Plus, as a boater, I personally would put more value on the bay block - especially if we're talking lagoon-front or something. Essentially, there is a market for ocean block homes and one for bay block homes.
I think the appraisal sounds about right. The house is a "tear down" but the land has the potential to be the site of a $1 million+ property.
Went to a house last week to buy some used furniture..was in Stone Harbor..so just for the heck of it I wanted to study this area..the house I went to was a 2 bedroom ranch (very small) on a lot 50feet by 100feet. The house value was normal around $148K (building)..but the land blew me away...$1.25 million!!! And this is 2 blocks from the ocean..not ocean front! And no backyard dock or even water for their 75foot yacht..if they have one.
WOW! If I had that money to spend I would buy a vacation house in Hawaii! At least I could always depend on the weather and the taxes are cheaper.
Sorry, but think the prices at the shore are way too high.....not worth it, the traffic on the parkway,
etc....UGH...would rather invest in property in florida....where you can go to the beach 12 months a
year not 3.....and they are FREE.
Sorry, but think the prices at the shore are way too high.....not worth it, the traffic on the parkway,
etc....UGH...would rather invest in property in florida....where you can go to the beach 12 months a
year not 3.....and they are FREE.
Sure you can go to the beach 12 months a year,but for most people to make a real living it can only happen up North.
I do agree the shore house prices are high and if the economy gets worse eventually they will decline.
But no one knows if this is the bottom or things are going to get worse.
Things are not bad at all.
Nice towns dropping only 10%.
Restaurants with an hour and a half wait on the weekends.
Only time will tell.
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