Info regarding current R.E. and Business in General on St Simon's Island (Brunswick: real estate market)

[Montana Griz]

..............How does the Real Estate market (and over-all situation) on Saint Simons Island compare with other similiar areas in the S/E. Has the recent (last 24 to 42 months) ecocnomic down-turn in gereral effected the tourist business on Saint Simons to a significant degree or has it been pretty minimal?It would appear that the negative effects that are evident in looking at Brunswick's situation are not necessarily being reflected on St Simons Island......but I really don't know...............and would appreciare the commemts and opinions of local residents from the island that have some basis 'in-fact' as related to their comments and opinions.

Thank you for your responses,

[Iconographer]

The RE market on SSI has been profoundly affected by the downturn, I can assure you. A lot of the 'high-flyers' down here have had to declare bankruptcy, most notably the Sea Island Company. It's a shocking and frankly sad state of affairs for the residents down here.

[912]

Yet, the median price point is still way out of whack vs. local median incomes. It's still very much a place for well to do out of towners.

[Iconographer]

Originally Posted by 912

Yet, the median price point is still way out of whack vs. local median incomes. It's still very much a place for well to do out of towners.

To a large degree, true. But they're not buying, either. Foreclosure rates for vacation homes are particularly high; stands to reason, since they're easier to walk away from.