Smart, dumb...what?
Almost bought a west end condo (made it in fine shape) just before Ike,even had money down but the sellers mortgage company screwed around...finally...months later (hell, it was a year in Nov) got back to me took the offer but wanted me to pay the condo fees for over a year while they screwed around. Added another 30K to it.
Perosnally, I'm pissed at them. But... I really love Galveston, always have. Back when I was a kid my Grand dad had a place there.

But I have concerns that Galveston is not coming back anytime soon. Would truly miss the golf course, some favorite Bayside resturants and some places on the Strand.

Have they put a pretty hefty price on property on a truely messed up island...or, am I wrong? Is Galveston coming back sooner than would be thought? Should property values rise NOW? In the future?
What think you folks that are down there now and have property?

What do you call "coming back"?

it is not the same as it was but that may not be all bad.
The golf course is open.
You can still go to the beach & fish. What do you want to do during the time you spend here?

The feeling of action. Of a place moving forward. Knowledge that when you buy property it might well increase in value.
Just that out of all the places available along the Gulf Coast, Galveston is the place to be.
Or, is the dystruction so heavy and the government so slow that it will hurt the eyes for years to come?
Guess I need to jump in the car and go see for myself, but several Galvestonians I have spoken with lately don't seem pumped on the islands future. Just wonder what the general attitude is by those that are already there. Determined to come back, or determined to get out?

I am staying. I think we are in the center of a "Perfect Storm".

UTMB-major employer loses money treating the indigent & uninsured uses the storm as a reason to cut their operations here.

Bolivar/Crystal Beach--contributes a little to the Galveston economy is hit very hard.

The economy is in the dumper.

Shriners hospital suspends operations because of post storm mis-management and major losses in their endowment.

Floods are slower to recover from than wind storms.

Government--lots of rules which no one knows for sure. May get one interpretation one day and something different the next.

FEMA is still afraid of making a mistake as a result of all the Katrina fraud so they are going slowly.

Feds, state, county, city have not yet learned to play well together.

BUT--if you enjoy the water we still have that. Fishing is good and if there are less people, personally I like it better but more people would be good for business.

Things are opening every day--I believe a nice spring will help the attitudes quite a bit.

Thanks Island Ag...I suppose it was not a fair question. In my heart I know Galveston will come back and I remind myself that "they ain't making more beachfront property" anyplace.

I suppose mine is an invest/enjoyment ratio thing.

I think the investment is certainly good long term...but, will I enjoy it in the short term?

I guess it's really a question only I can answer, but it is nice to know if the genuine locals see joy coming back to their lives or just years of endless heartache.

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"they ain't making more beachfront property"

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Actually, what used to be 2 or 3 rows back is now beachfront in some places. Good for the former 3rd row guy--not so good for the person who can't find their house.

If I was buying at the beach I would buy at least a few rows back and get a good golf cart.

I would also consider the canal side--they are more stable as far as erosion of the beach.

Depends what you want to do when you get here. I have lived in both and each has their merits.

Point West, both beach and housing seems of held up very well.
For me...sit on my deck, watch the waves, go out to a few of the great places to eat on the Island, a little golf and I'm happy. But, unfortunately much of my clan likes a bit more action like that provided down on the sea wall or down on the Strand.
But, I think Galveston is a great investment...just puzzled that many of my more monied friends have reservations. Always makes me worry when I see a guy who has made tons more money than I investing isn't ready to jump in the water when I am.

I can't speak for the west end because I haven't been down that way lately but in town there are SO many houses for sale and they are still putting pre-Ike prices on them. But I think soon when people realize there are more sellers than buyers, their prices will have to come down. Of course I'm not a realtor so I could be wrong.

Ya, it's the pre-Ike prices that sort of puzzel me.

I would probably wait awhile before I bought property anywhere, nevertheless Galveston. I suspect there is a lot of pain still to come in the real estate market. Of course, I've never been very good at timing markets.

it begs the question, why ?

Why wait to Buy? Or why Galveston? Or why the prices still pre-Ike?

why buy now ? why galveston ? etc. If I didnt already have a place on bolivar, I sure wouldnt be buying right now.

Well, couple of reasons. Generally about 20 plus years between damaging hurricanes...that's about the amount of time I'd probably keep it.
Second. Just previous to Ike I had pretty much toured the whole Gulf Coast and found Galveston to have the most "upside". I was impressed with what had been done to make it an attractive and fun city...or at least the beach ,the Strand, hotels and resturants were MUCH better than they were in my childhood.
It's a city with hisotry and, I like the new construction of condos. And I keep hoping that they will let casinos come there and man...you get that and the Island will explode. Property value will triple.
But, ultamately, I just think Galveston has an upside like nothing else on the Gulf.

Talked with a planning engineer--he said forecasts for Houston are to go from 3.5 million people to 7 million in the next 20 or 30 years. Galveston is close, easy access, different than Houston, a nice getaway.

There will be more people living in Galveston & working in Houston or the new Houston suburbs of League City & Clear Lake.

We will be a little different after the storm but we will still be the closest place you can go to do what you want to do--sit on a deck, drink a beer, watch the birds & the waves, catch a few fish, etc.

The restaurants are the group making the most rapid return. If Galveston fills the need for what you want to do I would look at your options-
buy a lot & build = most expensive.
buy an existing house
buy a condo, 4 plex, duplex
buy a damaged house, as is & fix it.

I don't know if prices will get less as time goes on after the storm or if they will increase if we ever get out of this "depression" but I think over the long term they will inevitably increase.

I agree with your thoughts...a step farther. The State Demographer says that Houston Metro area will increase to 16 mil by 2025.
Of that 16 million, no matter the economy, there will be at least the possiblity of a million people looking for a Beach getaway within 1.5 hours of their main home. And there is only so much space.
That's not even counting another 25 million or so within 3.5 to 4.5 hour drive of Galveston
There is litterally no way for Galvestion to go BUT UP.

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There is litterally no way for Galvestion to go BUT UP.

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I hope so but depends on the definition of up.

Those of us who have been here a while are difficult to make happy--we want prosperity for the Island but we also don't want anyone messing up what we now enjoy--no traffic, some open space, relatively uncrowded waters, the beautiful weather in spring & fall with relatively fe people here, etc.

There are some big developers trying to do some large projects which in the opinion of many--will mess things up--of course to many, this will be called progress.

Yes, it is a conumdrum. How to keep it simple and still get the sort of taxbase needed to make the Island a modern, yet peaeful place to live.
All I can promise you is, that I don't drive fast, have mufflers on my car, don't throw beach keggers, pretty much stick to myself and leave money behind on ever trip down there.
And, well, how could you have too many Aggies.

I don't mind the tourists-I have long ago reconciled myself with the fact that if you live in a tourist area that tourists are a part of the deal. What I don't like is the developers doing projects which IMO don't "fit".

Example-I live on a dead end street-serves 20 houses, so is a quiet, low traffic area. I looked for this type place many years ago. Now-have one developer trying to use my little street as the sole entry into his 275 lot subdivision. On the other side we have a developer who wants to build a marina, single family homes and 9 story condos.

These developments will absolutely change my environment and my quality of life. IMO, they are developing at my expense. My house will no longer be my sleepy, little refuge. It will be in the middle of a pile of "progress"

Ouch!...had the same thing happen with my main home...terrible.
I would hope that the major building will be in those areas past the sea wall that were so affected by Ike. Galvestion needs some middle income housing badly. It's either low income (much of it taken by Ike) or very high income (much of it lived through Ike.
I heard the mayour speak only weeks before Ike about the cites desire to replace low, with middle and their need for Galveston residents to have better housing in general.
I agree.

Chicken and egg--we need middle income housing but we have to keep/attract middle income people.

I am focused on this in our "Giant" recovery committee--no matter what the vision for this city we need to be a clean city, a safe city and upgrade the schools to keep / attract the middle class.

Very true. I may be off base, not being an Islander, but it seems to me that Ike, as terrible as it was gives you the perfect oppertunity to do both.

Yes, but--this is an island full of Galvestonians.