hiveredtech Posted April 10, 2005 Share Posted April 10, 2005 It has been interesting lurking on this board and reading the opinions on real estate...trying to get a good idea of what the future holds for Galveston.I live on Santa Rosa Island at Pensacola Beach...which of course was just slammed by Hurricane Ivan. There is massive destruction because a majority of the homes and condos were built many years ago...however property values have INCREASED since Ivan. Since I bought my home in Dec. of 2000 it has increased in value over 100%..since Ivan another 25%. I cannot explain it....but in 2000 our property values were where Galveston appears to be now...although I have never been there. However, all homes and condos just keep going up and even hurricanes are not detering people.Of course, we are a small island with about 3,000 FT residents, 12 hotels/motels, and a couple thousand condo units. Plus..the island is only 7 miles long of develpment...and about 4-6 blocks wide depending on where you are. On other side of the 7 miles is nationally protected seashore that will never be developed.We had a condo development that sounds similar to Palisade Palms called Portofino that has be hugely successful...and a friend of mine is trying to talk me into buying a unit in Palisade Palms. Like Palisade, Portofino took years to approve and was built on the last piece of land able for development and is on the far east side.Not knowing Galveston, it sounds like a much bigger island with a significant town center.I just cannot believe that I see homes listed as beachfront there for under $400K....at Pensacola Beach beachfront lots are worth $1.5 million....and the per capita income for Pensacola is only $24K/yr. We are getting tons of people moving from Atlanta, Birmingham, Montgomery, Jackson, New Orleans, etc.What do you guys think about Galveston? Can it do what Pensacola Beach has done? Are people from Houston and other parts of Texas starting to speculate in Galveston and get excited about vacationing there again? Quote Link to comment Share on other sites More sharing options...
DJ V Lawrence Posted April 10, 2005 Share Posted April 10, 2005 It has been interesting lurking on this board and reading the opinions on real estate.I live on Santa Rosa Island at Pensacola Beach...which of course was just slammed by Hurricane Ivan. There is massive destruction because a majority of the homes and condos were built many years ago...however property values have INCREASED since Ivan. Since I bought my home in Dec. of 2000 it has increased in value over 100%..since Ivan another 25%. I cannot explain it....but in 2000 our property values were where Galveston appears to be now...although I have never been there. However, all homes and condos just keep going up and even hurricanes are not detering people.Of course, we are a small island with about 3,000 FT residents, 12 hotels/motels, and a couple thousand condo units. Plus..the island is only 7 miles long of develpment...and about 4-6 blocks wide depending on where you are. On other side of the 7 miles is nationally protected seashore that will never be developed.We had a condo development that sounds similar to Palisade Palms called Portofino that has be hugely successful...and a friend of mine is trying to talk me into buying a unit in Palisade Palms. Like Palisade, Portofino took years to approve and was built are the last piece of land able for development and is on the far east side.Not knowing Galveston, it sounds like a much bigger island with a significant town center.I just cannot believe that I see homes listed as beachfront there for under $400K....at Pensacola Beach beachfront lots are worth $1.5 million....and the per capita income for Pensacola is only $24K/yr. We are getting tons of people moving from Atlanta, Birmingham, Montgomery, Jackson, New Orleans, etc.What do you guys think about Galveston? Can it do what Pensacola Beach has done? Are people from Houston and other parts of Texas starting to speculate in Galveston and get excited about vacationing there again?<{POST_SNAPBACK}>RESPECT to the Iacolla of Pensacola, aiigghhttt?! Vacation wise, i think Galveston is about to see a SURGE of travelers from across state there, mostly due to the Schlitterbahn Indoor-Outdoor Water Park about to open there in December. 2006 will be a HUGE year for that island, I expect.the $400K beachfront sounds really nice on paper. If, IF tourism increases the way I predict, and if the island creates more revenue, I believe Galveston property to have GREAT investment opportunities Quote Link to comment Share on other sites More sharing options...
hiveredtech Posted April 10, 2005 Author Share Posted April 10, 2005 RESPECT to the Iacolla of Pensacola, aiigghhttt?! Vacation wise, i think Galveston is about to see a SURGE of travelers from across state there, mostly due to the Schlitterbahn Indoor-Outdoor Water Park about to open there in December. 2006 will be a HUGE year for that island, I expect.the $400K beachfront sounds really nice on paper. If, IF tourism increases the way I predict, and if the island creates more revenue, I believe Galveston property to have GREAT investment opportunities<{POST_SNAPBACK}>why do beachfront homes on Bermuda Beach Rd. have such a low price tag? Quote Link to comment Share on other sites More sharing options...
adailey Posted April 10, 2005 Share Posted April 10, 2005 why do beachfront homes on Bermuda Beach Rd. have such a low price tag?<{POST_SNAPBACK}>Have you checked out Beachtowngalveston.com ? If you are on Santa Rosa beach you are familiar with Seaside and Rosemary Beach. this is the land development adjacent to Palisade, all of the lots in Phase I sold out. Quote Link to comment Share on other sites More sharing options...
hiveredtech Posted April 10, 2005 Author Share Posted April 10, 2005 Have you checked out Beachtowngalveston.com ? If you are on Santa Rosa beach you are familiar with Seaside and Rosemary Beach. this is the land development adjacent to Palisade, all of the lots in Phase I sold out.<{POST_SNAPBACK}>Actually I am on Pensacola Beach...which is on Santa Rosa Island along with Navarre Beach, Ft. Walton Beach. However, I am very familiar with Rosemary and Seaside...which is about 1.5 hours east of me.I am just schocked at the low prices of gulf-front there....this is exactly where Pensacola Beach was 5-7 years ago....and it is not people from Pensacola driving the market. Quote Link to comment Share on other sites More sharing options...
Parrothead Posted April 17, 2005 Share Posted April 17, 2005 The answer to your question might be answered with a color quiz: Q: What color is ocean water supposed to be? A: Blue, blue-green, green, all of the above. Not brown, not green-brown, not poop brown. Galveston's waters can take on the hue of poop, vomit, and sometimes, from a distance....bluish brown. But, mostly poop. That's not the only reason, I know, but it is one of them. Galveston has a LOT of silt and sediment thanks to Mother Nature and man as well (Houston Ship Channel, dredging the bay, etc). Pensacola's sand looks like snow, ours isn't bad but it doesn't look like Pensacola's! Quote Link to comment Share on other sites More sharing options...
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