Do Adverse Headlines Decrease Real Estate Values?

 Welcome to Paradise.

Sometime after September 11, 2001, I was showing property in a Gulf Front tower on Siesta Key.  My buyers loved the view but harbored a real fear that they would be vulnerable to aircraft attack because they, like many in the country, saw the devastation that September 11th brought.  Long story short, my buyers did not buy the $300,000 condo we looked at, they opted for a single family home.  I thought of them today because that same condo came on the market for a bit under $1million this morning.  

In general, it has been my experience that bad headlines can have a short term impact on real estate values but, the impact doesn't last too long.  I think that's probably the consensus for most people in and out of real estate.  It makes sense, it's logical, especially after you turn 30 years old - I probably would not have believed this hypothesis in my 20s.  I do now, essentially making a decision based on another persons' fear is a poor way to ensure financial stability.

I'd like to teach our son that, but he already knows.

This year he saw his school, favorite skatepark and beach close because of a virus.  Somehow, at 5 years old he just rolled with it.  And guess what?  The beach opened back up, the skatepark we love started welcoming people back and his new school started classes yesterday.  Today, he told us he'll probably start taking the bus to school when he turns six (regardless of the news).  That seems like a healthy attitude that should be rewarded.

Maybe after school today we'll go to the skatepark then to the 18th story of the Westin downtown to enjoy the view.  To be fair, his mom and he will be enjoying the view; I will just be silently watching all the property visible  increase in value.  That seems like a good way to spend the afternoon.


   Unfazed (and focused)

  





  


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