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Just got back from the Gulf coast yesterday. The house we rented was one lot back from the beach with a house in front of it, at least it was when I rented it (because it also had a pool). I was pleasantly surprised to find on arrival that the house in front had been demo'ed, giving us a gulf front view!
I didn't take any pics cause I left my camera on my desk. Doh!
We were on a part of the coast between Destin and Panama city. There is a county road there called 30-A that is about 15 miles lond that fronts the beaches. The town of Seaside (where the Truman Show was filmed) is sort of in the center of the locale with other communities spread out along the route. I've been going there since the late 70's. We were in a house on Seacrest beach where the dune line is about twenty feet high. It makes for beautiful views and white white beaches. Here's a link to the area's chamber of commerce site : http://www.sowal.com/
In the most popular spots, gulf front lots go in the 1 mil range. One bedroom condos are in the 300 grand area. I'm trying to convince my brother in law(a cardiologist) to go in with me on an investment property to try and get in the market.
I think they have gone static for a short while. My best freinds aunt is in real estate down there and she has lost more than a few sales since last year because of the storms.