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Purchased 2 waterfront condos in SW FL, no complaints here. They still can be sold for 3x the original cost. The housing market here will come back up shortly. Once the Boomers start retiring in larger numbers.
I'd say that I feel sorry for the sellers, but I'd be lying. I guess there's a little bit of the class-warrior lurking in the dusty corners of my psyche.
2 great anecdotal stories...what's missing ?
what they originally paid for the homes.....
Ritz Carlton in Naples, one of my favorite hotels...note related to post, but had to be said.
My girlfriend had a contract put on her crappy 3 bedroom cloned home in a exurb development an hour outside of Washington DC for $499,000.... in one hour. She turned around and wrote a contract to buy a house listed at 550,000. It may be that above a certain price point, you willonce again find fewer buyers....but it seems that the median price point is still pretty high, and there are still not enough houses available.
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Its odd that they list Nassau-Suffolk as a vacation market. The population of the East End may swell in the summer, but there are over 2.5 million year round residents in the entire market.