A column by Jack Simpson in the Destin Log analyzed the trends for Destin real estate in 2009. In some sense, aside from the conversation Simpson is having with himself, the column is a review of most real estate in 2009 – not unique entirely to Destin and the Emerald Coast but also to real estate in general. Destin, in rentals, did see some significant positives over the year, which wasn’t mentioned in Simpson’s column and the end of the year also saw a rise on condo sales. In general, 2009 was the aftermath of the housing crisis that has been an issue since 2007. But, despite excessive foreclosures in Destin, what was seen in Destin wasn’t much different than in the rest of the nation – except for the slight upturn seen mid-year.

The main issue Simpson sees with the Destin housing market is the amount of foreclosures on the market, as well as significantly lower property values and higher insurance costs. While the latter has been due to hurricanes, both foreclosures and lowered property values are a direct result of the housing marketing crash. But, because Destin has seen an upswing in the amount of homes being bough during the second half of the year, it’s also somewhat beneficial, as now housing is more affordable in Destin. This, as Simpson also mentions, should be the goal for 2010: To make housing in Destin more affordable to those who should be buying homes.

Aside from purchasing homes in Destin area, another aspect of local real estate has some under fire by Simpson: beach renourishment. As we’ve seen in previous posts, the beaches along the Emerald Coast have been experiencing erosion and beach renourishment is supposed to combat this. As Destin’s primary asset to home owners and vacationers, the beaches are important in attracting people to Destin, but, unfortunately, the beaches being renourished, according to Simpson, are those that aren’t experiencing the most erosion.

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