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From: Judy Rouse (no email)
Date: Wed Oct 05 2005 - 10:47:53 EDT
On Tuesday, October 04, 2005 7:53 PM, Richard Goodwin wrote:
"> No - YOU may be able to chose to live a few houses
> up the street, but
> as someone has pointed out, the safer areas are more
> expensive. Not
> everyone has that choice.
Well I guess we're getting finally to the root of the
misunderstanding about all this. Everywhere I have
ever seen real estate prices, ocean front property is
WAY MORE EXPENSIVE than non-ocean front property.
You are saying it is the other way around. I have
never seen or heard of such a thing."
-------------
Dick,
This does explain part of the "misunderstanding" about all this, but I also
think many of us have a fundamental disagreement of ideas regarding societal
and governmental roles in assisting those who suffer damages in natural
disasters. To each his own in this regard. It doesn't really matter what
individuals think because this little group will have no impact on
population at large.
All that said, I can assure you that property can be purchased at most any
location on the Texas or Louisiana Gulf coast for a fraction of much of the
land values inland. For example, prior to the last two hurricanes, I could
purchase the same size little spit of unimproved land (50x100) in Bolivar
directly behind the vegetation line (the building requirement for this
state) for approx 60k. Whereas the same-sized land value for our home is
350k, located 50 miles inland and in the city. And our current property is
still considered to be in a flood zone--the 500 year flood plain. Suburban
land values are obviously less than our home property, but still more than
the beach fronts. There might be a few pockets where the beach front land
is more expensive, like the extremely few inlets that would allow
construction of a dock adjacent to the property. But in general the coast
land is less expensive for several reasons. You buy it totally at your own
risk.
One cannot obtain Title Insurance for the beach front property. And, unless
things have changed very recently, one also cannot purchase homeowners
insurance for beach front property. And when hurricanes or storms change
the vegetation line, you cannot rebuild your home if the line moves back
onto your property. Happened every few years.
I have no idea if that is true in Mississippi or Alabama. Common sense
would indicate to me that their beach front property is more in line with
that of Florida, i.e., higher land value for waterfront property. Their
coastal property seems much more commercial than that of Louisiana or Texas.
Judy
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