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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (47879)	1/29/2006 11:44:52 AM
From: Tradelite	Read Replies (2) \| Respond to of 306849

Been to Daytona many times, both as young person with no money and no obligations and as parent taking kids on a good cheap vacation. We always liked Daytona in our household as a place to visit--been showing up there every now and then since the 1960s-- although I suspect it's not as good a place to visit now as it was even 5 or 10 years ago. We tended to alternate between cheap vacations in Daytona and cheap vacations in Myrtle Beach, SC. The problem I see in Athens is partly that Univ. of GA is starting to control a considerable amount of the real estate development in that town, such as selling two different developments of expensive condo units to wealthy alumni who want a place to stay on football weekends. A few months ago, I stayed in a downtown-Athens hotel for two football weekends and toured a few unsold condo units in a building right in the middle of downtown Athens within walking distance of the football stadium. Was NOT impressed, either by the ambiance of the individual units or by the fact that retail space below those units remains vacant and unsold--right in the middle of town, which isn't a big place and should attract tenants if the price and business prospects were right! As an aside, I agree Athens is a great music town. Proving that we live in a small world, I have two friends here in the DC area who don't know each other and whose sons decided to get involved in the Athens music/bar scene and have lived in that town ever since college, although one has reportedly said he's sick of the college scene (easy to do after one gets to a certain age in life) and wants to relocate. I'm glad my own kid went to biz school, lives in Atlanta and does nothing in Athens but tailgate on football weekends. I'm getting the impresssion the tailgating is wearing thin with his fiancee, who also graduated from UGA.....so banking on real estate in a town that depends economically and financially on a University and its fans and alumni to purchase real estate has.......well, some limitations. My opinion only....and only about one town in the U.S.