Destin Florida Triples In 3 Years

Do you want to see something that is absolutely amazing? Let me show you what has happened in Destin, Florida over the last 3 years. Back in August of 2002, the median price of a home selling in Destin was $229,000. One year later, August 2003, the median price in Destin increased to $305,000, or a 33% price increase.

Roll the clock forward in July 2005, and we see that the average price is now $658,000 as you can see in the price charts below. Do you think there was a little money made in Destin over the last few years? Since I live in the area, I can attest to the HUGE role real estate has played in our local economy and large amount of wealth that has been produced.

For the Monday morning arm chair quarterbacks of the world, you can just hear them at a dinner party saying?. "Boy, I knew that real estate was going up around there and I came close to buying a piece of property back in ??.". "If I WOULD OF have purchased that property, I COULD HAVE made a killing?. I guess I SHOULD HAVE bought it before prices went so high. This is what investors call the Woulda, Coulda, Shoulda syndrome.

The WORST thing an investor could do right now is to realize that they missed some gain potential in Destin and then assume that prices will just keep going to the moon. Rather than kicking themselves for actions taken in the past, what this investor should be doing is trying to understand what has happened in the past and then apply that knowledge to FUTURE investments. Let' rewind the clock and see what happened to see if it sheds any clues as to what we should be looking for in the future.

Twenty years ago, Destin was a sleepy little fishing village that calls itself the "Worlds Luckiest Fishing Village". In addition to sugar white beaches, the area has great fishing and emerald colored waters that actually rival some spots in the Caribbean for water clarity. But twenty years ago, very few people wanted to live in Destin and only a small number of tourists wanted to visit the area. Boy has that changed.

In 1993, there was a major event that, in many people's opinion, changed the course of Destin forever. This was the opening of a major bridge into Destin that now provided easy access to tourists. Today, only 12 years after that event, Destin is a huge international tourist destination with multi-million dollar beach condos, Lear jets depositing visitors for the weekend, and a wide array of dining and shopping that rivals many upscale areas. Not too bad for a bunch of people that were affectionately called "fishheads".

So looking back, how could the individual investor have made smart moves in Destin?. Suppose you put on your investor hat and you came down to visit in 1993 right after the mid-bay bridge was constructed. You would have seen:

* A great beach and fishing location;

* An expanding offering of hotels and condos;

* Have realized that it was very unlikely for this area to drop in price due to the ever increasing demand for waterfront and nice vacation spots.

At that stage, somebody with a little bit of foresight could have made a longer term investment and planned on holding for 10 years. This longer term approach might not be your style, however.

Fortunately, you really did not have to really be that smart. Supposed you decided that Destin was likely to be an EMERGING area but you just didn't know when. You would have seen both price and volume of sales start to shoot up in the middle of 2002. When this BUY signal occurred, you would have found that you could have purchased many types of properties that would easily rent out and cover your expenses; i.e., there was a safety net for you. At that point in time, it was absolutely obvious to EVERYONE here that Destin was a major tourist destination that was not going to go away anytime soon.

As time went on, you would have seen the price and volume of sales continue. Looking at the figure below, you would have seen the year-to-year % change in price and the year-to-year % change in volume continue skyward until around December, 2004. After this time, the prices kept going up but not as aggressively. Also, you can see that the rate of change of volume has been dropping over the last 6 months which is a sign that things are definitely cooling off in this local market.

To me, that chart speaks volumes. It says there was a great opportunity to get in and there has been plenty of time to get out. However, it also tells me that I probably don't want to invest in Destin right now even though in the longer term, I think Destin will do just fine. For my taste, I would rather find the next EMERGING market rather than one that has already EMERGED.

Dr. Chris Anderson is a co-founder of http://www.GetPreconstructionDeal s.com and is referenced in many venues including the New York Times and USA Today. Download his free, 30+ page preconstruction investing ebook today at Get Preconstruction e-Book.

How to Sell Your House by Lease Options

Many people buy a house then have to move within a few years, due to... Read More

Investing in Real Estate Like a Stock

A REAL ESTATE STOCK PLANGetting out of the bleachers and into the game!This report is... Read More

Customer Service ? The Real Estate Revolution

Traditionally, real estate has been viewed as a sales industry. But perceptions are changing. Agents... Read More

Advantages to Buying or Owning a Condominium

Condos have become an increasingly attractive home ownership option for singles, young couples, families and... Read More

How to Price Your Property?

A house properly priced is half sold. But there are plenty of ways to price... Read More

The Benefits of Fractional Ownership in Private Residence Clubs

A New Way to Own a Vacation Home - For the Select Few: Fractional ownership... Read More

Commercial Real Estate: Assessing The Unique Features Of Commercial Real Estate Parcels

As commercial real estate development progresses into the 21st century, many of the principles upon... Read More

Good Faith Deposit ? Real Estate Transactions

In a real estate transaction, a touchy issue is how much trust the seller has... Read More

Victorian. Modern. Colonial. What?s Your Architectural Style?

You are attracted to a home for more than its number of bedrooms and square... Read More

Real Estate Growth: How Long Will It Last?

There has been speculation in the media recently about the fact that real estate will... Read More

A Singles Game of Real Estate

This discussion leans toward answering questions asked most often by our youthful men and women... Read More

Investing in Residential Real Estate: Achieving Positive Cash Flow

When investing in real estate, it is highly desirable to achieve positive cash flow on... Read More

How to Negotiate a Successful Short Sale

Anyone who has ever profited from doing a short sale has also without a doubt... Read More

Real Estate Investing ? The Job Escape

Real estate investing is pretty unusual in lots of ways. Real estate investing is creative.... Read More

Fantasy Gap [fast money in real estate]

I was in the rental business for seven-years, made 1.3 million dollars the first five... Read More

Why Real Estate?

Five months ago I was faced with a decision to keep doing the same thing... Read More

Let the Broker Show the House

Of course you're curious, and you'd like to see what goes on when potential buyers... Read More

Florida Real Estate Exploding For 15+ More Years?

YEEHAW!!!!!! The south will rise again!! Can't you just imagine the Dukes of Hazard boys... Read More

So, You Wanna Buy Pre-Foreclosures?

So you wanna buy pre-foreclosures? or at the courthouse steps? So many people ask us... Read More

Budgeting Your Log Home: Where Do You Start?

The Log home industry has matured these last many years, but there is still a... Read More

Preparing for a Showing

As soon as you decide to put your home on the market, all sorts of... Read More

The Letting Agents Role

Letting agents play an important role in the buy-to-let industry and a good agent can... Read More

Negotiating A Short Sale ? The High Road to Huge Foreclosure Profits

Buying foreclosures can be extremely profitable for real estate investors. However, most of these homeowners... Read More

Real Estate Research By Talking

Real estate research might start with a look at the U.S. Census information about a... Read More

Tenant/Buyers Have Multiple Options

Lease Purchasing affords the tenant/buyer a wonderful opportunity to get into a home today, that... Read More

Want A $10,000 House?

How do you find a house for ten or twenty thousand dollars? In three steps:1.... Read More

Real Estate Investing Skill Acquisition

Real estate investing is not in any list of high school electives. You can't get... Read More

Should You Sell Your Home Yourself?

Are you thinking about selling your home? Would you like to sell it by yourself... Read More

Unravelling The Real Estate Buying Process in Canada

If you're a foreign national thinking about investing in the real estate market in Canada... Read More

Seven Questions You Should Ask When Buying a Condo Hotel Unit

You may have heard all the buzz about the newest type of vacation home investment,... Read More

Landscaping Adds Great Value to Real Estate And Helps You Sell

Over the years several of our clients have had professional landscaping done and it's amazing... Read More

Timing Is Everything When It Comes To Buying Homes

The old adage that "timing is everything" especially applies to buying a new home. And... Read More

Rehab Foreclosed Houses the Right Way and Keep All the Profits!

I've been teaching people how to buy foreclosure properties for a long time.And we all... Read More

New Home Construction - The American Dream or The American Nightmare?

Buying a new home is suppose to be the American Dream. Unfortunately, for many buyers... Read More

What is a Home Inspection?

Any Sally and Sam Homebuyer can look at a home and decide whether it is... Read More

How To Find An Experienced Monticello Illinois Realtor

Finding a professional Monticello Realtor in Illinois is the best way to find the perfect... Read More

Real Estate Investing - Basis Explained

Our complex IRS code requires that your, as a real estate investor, accurately calculate your... Read More

Real Estate Investing: How to Choose a Lender

To become a successful real estate investor it's vital to have a long-term relationship with... Read More

Russ Whitney and Real Estate Investing Gurus

There is curently a huge real Estate boom in America today. Little does the world... Read More

Do Open Houses Work?

What are the odds that you'll find your dream at a Sunday open house? What... Read More

Real Estate Tax Incentives

Lower Your TaxesTax incentives for real estate investors can often make the difference in your... Read More

Realities of Real Estate Investing

If you are anything like me, you are always looking for a good way to... Read More

Home Inspection Checklist - Home Inspectors

Although architectural details, wall and floor coverings, modern conveniences and many other factors are important... Read More

Investment Property - Leveraging Rental Property Equity

Owning investment property is a tremendous wealth building strategy. Thousands upon thousands of individuals have... Read More

Joint Ventures In Real Estate Development; So How Do They Work?

There are many reasons why you would consider joining with another person to undertake a... Read More

FSBO: For Sale By Owners Chapter Two

Sheriff's Deputy Ted Rasmussen was thinking about Carrie-his pregnant waitress problem-when he sighted the traffic... Read More

Selling by Owner = Saving by Owner?

According to the National Association of Realtors, For Sale By Owner (FSBO) home sellers comprised... Read More

Dealing With Dual Real Estate Agents

Historically, real estate agents have represented the seller of a property. The seller, after all,... Read More

Real Estate Disputes And Partition

What if two people pooled their resources and began investing in real estate. Like many... Read More

First Impressions Will Sell Property Fast!

First impressions count, buyers will have already formed an impression before they step into your... Read More