Forgotten Coast May Soon Forget Housing Slump

By: Ilyssa Trussel Email
By: Ilyssa Trussel Email

Carrabelle Resident Mary Staff says she lives in paradise. Her coastal home sits along Highway 98 on the Gulf of Mexico.

A while back she tried selling her home, but didn't get any bites.

"Nobody even came to see it and it was pretty,” she said. “We came back and took it off the market and said maybe times will get better."

Those times may be right now.

The president of the Franklin County Realtors Association, Olivier Monod, says the slump in the real estate market is finally on the up swing.

"Less than seven days ago, contracts were extremely scarce and since this weekend and yesterday and today, contracts seem to be coming back in a way I have not seen for over two years," he explained.

The county's property appraiser, Doris Pendleton, is not as positive.

"If you focus on 2006 you can see the sales have dropped tremendously," she said.

Pendleton says with how bad the bust was it'll take a while for the market to really recover.

"I think it’s gonna’ take two to three years to get that activity back up."

Wallacee Giddens, who lives in Carrabelle, is confident it'll bounce back, but agrees it'll take some time.

"I think the stock market had a lot to do with it and then of course Hurricane Dennis scared the fool out of a lot of people, it scares me."

While for now sale signs still line the highway today, many residents are staying patient knowing hope is on the horizon.


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