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Galveston Island real estate insanity
Posted on 2/24/21 at 7:35 am
Posted on 2/24/21 at 7:35 am
Ok, I get covid has led many in a nearby 6.8million populous to seek 2nd homes close by for fun. But, good lord!
We’ve been considering a Sea Isle (west Galveston bay......no trashy) purchase, but missed the boat i guess. Just looked at a back canal home listed for $510/ft. Bruh.
Interior homes going for $400k+ That used to be $250-300k.
Not wishing it, but only thing that’ll cool that market is God.......
We’ve been considering a Sea Isle (west Galveston bay......no trashy) purchase, but missed the boat i guess. Just looked at a back canal home listed for $510/ft. Bruh.
Interior homes going for $400k+ That used to be $250-300k.
Not wishing it, but only thing that’ll cool that market is God.......
7
Posted on 2/24/21 at 7:47 am to CharlesLSU
Is this sort of like having a 2nd home on the Louisiana coast? Recreational fishing being the primary purpose?
I've looked into a vacation in Galveston before - weekend type thing with it being so close to BR but doing research I never came away feeling like it was worth wasting a vacation there. But I've never been there so I could be wrong.
I've looked into a vacation in Galveston before - weekend type thing with it being so close to BR but doing research I never came away feeling like it was worth wasting a vacation there. But I've never been there so I could be wrong.
Posted on 2/24/21 at 8:45 am to CharlesLSU
quote:
Galveston Island real estate
Never understood the attraction really? If I was serious about a 2nd home, it would be down towards Port A or Rockport. Port A may be a little longer drive than Galvatraz but the beach is better and so is the fishing. We actually slum over on the other side in Crystal Beach during the Summer. I got a buddy with a brand new place and we rent it from him from time to time. After Ike, everything is brand new over there.
Posted on 2/24/21 at 8:50 am to CharlesLSU
I have 4 friends with places in Tiki, and if you think Sea Isle, JB, or the west end in general are high.....Tiki is way higher. You ever look at Demijohn Island and that area?
The primary appeal to the Galveston area is proximity to their primary homes. Can get down there in an hour and there are a ton of really nice, relaxing places down there.
The primary appeal to the Galveston area is proximity to their primary homes. Can get down there in an hour and there are a ton of really nice, relaxing places down there.
This post was edited on 2/24/21 at 8:54 am
Posted on 2/24/21 at 9:51 am to CharlesLSU
Cheap money more than anything.
Posted on 2/24/21 at 9:59 am to skidry
Its really nuts. Lotta people wondering if they should sell and just wait for it to normalize.
Posted on 2/24/21 at 10:02 am to CharlesLSU
And every 10-12 years they get flattened
Posted on 2/24/21 at 10:20 am to rmc
quote:
I've looked into a vacation in Galveston before - weekend type thing with it being so close to BR
you can get to gulf shores, destin, etc. in the same amount of time as getting to Galveston from Baton Rouge.
Posted on 2/24/21 at 10:24 am to CharlesLSU
Now add in Texas Wind Pool & Flood & Taxes 
FEMA is going up on their rates to confiscatory amounts annually to move those beach houses to private companies.
FEMA is going up on their rates to confiscatory amounts annually to move those beach houses to private companies.
Posted on 2/24/21 at 10:25 am to MWP
quote:
Port A or Rockport.
My preference as well, but you're not saving any $ on either of those locations. Port A if you want offshore access, Rockport if you want the smaller water/fishing village vibe.
Posted on 2/24/21 at 10:38 am to Stexas
quote:
My preference as well, but you're not saving any $ on either of those locations. Port A if you want offshore access, Rockport if you want the smaller water/fishing village vibe.
Maybe/maybe not. Regardless though, if I am gonna spend crazy $$$, it is going to be somewhere that has better options than what I would find in Galveston.
Posted on 2/24/21 at 10:18 pm to CharlesLSU
Our plan was to buy a gulf coast vacation rental property in about 2 years... prices have skyrocketed the past 12 months and I think inflation is going to keep the prices high unfortunately.
Posted on 2/25/21 at 6:26 am to rmc
quote:
I've looked into a vacation in Galveston before - weekend type thing with it being so close to BR but doing research I never came away feeling like it was worth wasting a vacation there. But I've never been there so I could be wrong.
If you live in BR don’t waste your vacation money on a trip to Galveston. The gulf beaches from Biloxi to the East are far superior to what Galveston has to offer.
As for the real estate prices in Galveston they to will feel wrath of a hurricane at some point and there will be great buys everywhere. Galveston and frankly Houston got damn lucky that hurricane Laura did not track that direction. Laura would have cleared Galveston and parts of south Houston off of the map.
Posted on 2/25/21 at 6:40 am to KemoSabe65
TDI has been largely kept in check on insurance rate hikes but with another very active season looming, I suspect a hit to the TX coast will finally give them the juice to frick homeowners. I know the costs are crazy high (esp for non-TDI compliant structures), but it could become a back breaker if God steps in.
Posted on 2/25/21 at 6:42 am to MWP
It’s a proximity issue.
Port A and Rockport are obviously superior fishing locales (and better coastline), but much much farther away.
Port A and Rockport are obviously superior fishing locales (and better coastline), but much much farther away.
Posted on 2/25/21 at 7:11 am to CharlesLSU
You do understand that Tx wind pool has more liabilities than assets? Florida wind pool is in the same spot, it’s a house of cards waiting to fold.
Coastal property markets will correct very soon as will I-10 markets. The London syndicates don’t want anymore.
Coastal property markets will correct very soon as will I-10 markets. The London syndicates don’t want anymore.
Posted on 2/25/21 at 8:04 am to Hermit Crab
quote:
you can get to gulf shores, destin, etc. in the same amount of time as getting to Galveston from Baton Rouge.
Yep, and the beaches and water clarity is light years ahead of Galveston.
Posted on 2/25/21 at 9:04 am to KemoSabe65
While ignorant as hell to that educated insurance speak:), I can discern that they recognize Mother Nature is setting a tone of destruction and uncertainty. Correct assumption?
So, while I get it, I never thought at that level. Thanks!
So, while I get it, I never thought at that level. Thanks!
Posted on 2/25/21 at 10:17 am to CharlesLSU
supply and demand. 7 million people in the area (many within an hour drive).
COVID has increased the value of just about every second home destination - I know Western North Carolina real estate is on fire, Aspen, etc.
If you have the means and can work remotely, why not do it from a vacation spot?
COVID has increased the value of just about every second home destination - I know Western North Carolina real estate is on fire, Aspen, etc.
If you have the means and can work remotely, why not do it from a vacation spot?
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