You really don't have to worry about that. Frankston is a Major city on the bay! It is growing and will continue to do so. The area is changing and so to will it's image.
Toni
Purchasing in VIC - Frankston Area
- Thread starter Cherry Pro
- Start date
You really don't have to worry about that. Frankston is a Major city on the bay! It is growing and will continue to do so. The area is changing and so to will it's image.
Toni
Frankston City - Out Economy at a Glance - Frankston City News Oct 2008
Revenue - 7.1 billion Economy
Of the $7.1 billion revenue generated in Frankston City, 29.7 per cent is from manufacturing sector, the largest industry in the city. Although there is a perception that Frankston is a retail dominant city, retail trade accounts for just 10.9 per cent of the gross revenue generated. Meanwhile, the other significant industry sectors contributing to the local economy are property and business services (12.5 per cent) and construction (11.4 per cent)
Employment - 33,500 jobs
Frankston City's employment is centred on retail trade, health and community services, manufacturing and education. Over 60 per cent of the City's employment lies in these industry sectors, with over 7,400 in retail trade and 5,700 in health and community services.
A Growing Economy
Census data from 2001 and 2006 indicate Frankston has a growing economy over this period, there have been 900 jobs created in health and community services and 500 jobs in retail trade. Overall, there has been a 10 percent increase in the number of jobs in Frankston City.
In the same period, the economy has generated an extra $800 million in gross revenue, which equates to an overall growth of over 11 per cent.
One quarter of this growth can be attributed to Frankston City's manufacturing sector, which grew by $200 million over the five year period.
Annual Business Survey
Each year the Economic Development team undertakes a survey of the business community to gain a better understanding of the trends and issues facing our local economy. It also helps us to better plan our activities and target where our business support resources would be best directed.
This year's survey revealed:-
50.5 percent of the respondents established their business in frankston between 2000 and 2007.
55.2 per cent of the respondents chose Frankston for their business to be close to home, 27.4 per cent saw the business potential and opportunities and 23.8 per cent made the lifestyle choice.
16 per cent of the respondents indicated they had relocated an existing business to Frankston from elsewhere, with original locations spanning up the bayside corridor, south east Victoria and interstate.
Accommodation, cafes and restaurants, retail trade, manufacturing and personal and other services reported the greatest capital investment in the past financial year
Transport and storage, health and community services and cultural and recreational services were the industries expecting an increase in capital investment in the 2008-2009 financial year.
72.5 per cent of the respondents reported an expected increase in business turnover in the 2008-2009 financial year.
The greatest strength and competitive advantage of operating a business in Frankston, identified by 52.1 per cent noted the central location of Frankston in relation to reaching the Mornington Peninsula and Melbourne, Affordability, lifestyle, development/potential and accessibility were also highly rated by respondents.
Interestingly despite Frankston's central location being described as a competitive advantage by 51.2 percent of the respondents, 26.2 per cent cited the City's distance from Melbourne as a competitive disadvantage.
Revenue - 7.1 billion Economy
Of the $7.1 billion revenue generated in Frankston City, 29.7 per cent is from manufacturing sector, the largest industry in the city. Although there is a perception that Frankston is a retail dominant city, retail trade accounts for just 10.9 per cent of the gross revenue generated. Meanwhile, the other significant industry sectors contributing to the local economy are property and business services (12.5 per cent) and construction (11.4 per cent)
Employment - 33,500 jobs
Frankston City's employment is centred on retail trade, health and community services, manufacturing and education. Over 60 per cent of the City's employment lies in these industry sectors, with over 7,400 in retail trade and 5,700 in health and community services.
A Growing Economy
Census data from 2001 and 2006 indicate Frankston has a growing economy over this period, there have been 900 jobs created in health and community services and 500 jobs in retail trade. Overall, there has been a 10 percent increase in the number of jobs in Frankston City.
In the same period, the economy has generated an extra $800 million in gross revenue, which equates to an overall growth of over 11 per cent.
One quarter of this growth can be attributed to Frankston City's manufacturing sector, which grew by $200 million over the five year period.
Annual Business Survey
Each year the Economic Development team undertakes a survey of the business community to gain a better understanding of the trends and issues facing our local economy. It also helps us to better plan our activities and target where our business support resources would be best directed.
This year's survey revealed:-
50.5 percent of the respondents established their business in frankston between 2000 and 2007.
55.2 per cent of the respondents chose Frankston for their business to be close to home, 27.4 per cent saw the business potential and opportunities and 23.8 per cent made the lifestyle choice.
16 per cent of the respondents indicated they had relocated an existing business to Frankston from elsewhere, with original locations spanning up the bayside corridor, south east Victoria and interstate.
Accommodation, cafes and restaurants, retail trade, manufacturing and personal and other services reported the greatest capital investment in the past financial year
Transport and storage, health and community services and cultural and recreational services were the industries expecting an increase in capital investment in the 2008-2009 financial year.
72.5 per cent of the respondents reported an expected increase in business turnover in the 2008-2009 financial year.
The greatest strength and competitive advantage of operating a business in Frankston, identified by 52.1 per cent noted the central location of Frankston in relation to reaching the Mornington Peninsula and Melbourne, Affordability, lifestyle, development/potential and accessibility were also highly rated by respondents.
Interestingly despite Frankston's central location being described as a competitive advantage by 51.2 percent of the respondents, 26.2 per cent cited the City's distance from Melbourne as a competitive disadvantage.
Agents Underquoting to ensure fast sales - Beware
My property manager kindly made an unsolicited offer to "help me out" after some baddie tenants took offf.... he offered $200k for a perfectly nice brick home on a quiet road in Karringal. Be warned: agents have no loyalty - the house is worth, even in this buggered market, around $260k+. PM reckoned the house couldnt be rented out but, lo and behold, a new tenant was found within a week. This fellow should be charged and locked up for making a potentially fraudulent offer. That he is handling a large chunk of my portfolio is especially galling. What other stunts will he attempt to pull off next?
Frankston should be booming. Even in these tough times. But it is being held down by nearsighted agents - most of whom do not even own property in the area. By reducing owners' expectations, they get fast sales and thereby line their grubby pockets in the process. Expect zero loyalty from most of these people. Price discounting is illegal (an agent was fined $20k recently) but it is rife and so many homeowners are being misled into selling their most important asset for too little.
I'm compiling a list of agents who regularly mislead owners and will be submitting it to Consumer Affairs. Feel free to PM me if you can assist. Lets protect our investments and send the message to these twits that they can't get away with what they are doing.
http://www.google.com/search?source...13AU228&q=underquoting,+victoria,+real+estate
My property manager kindly made an unsolicited offer to "help me out" after some baddie tenants took offf.... he offered $200k for a perfectly nice brick home on a quiet road in Karringal. Be warned: agents have no loyalty - the house is worth, even in this buggered market, around $260k+. PM reckoned the house couldnt be rented out but, lo and behold, a new tenant was found within a week. This fellow should be charged and locked up for making a potentially fraudulent offer. That he is handling a large chunk of my portfolio is especially galling. What other stunts will he attempt to pull off next?
Frankston should be booming. Even in these tough times. But it is being held down by nearsighted agents - most of whom do not even own property in the area. By reducing owners' expectations, they get fast sales and thereby line their grubby pockets in the process. Expect zero loyalty from most of these people. Price discounting is illegal (an agent was fined $20k recently) but it is rife and so many homeowners are being misled into selling their most important asset for too little.
I'm compiling a list of agents who regularly mislead owners and will be submitting it to Consumer Affairs. Feel free to PM me if you can assist. Lets protect our investments and send the message to these twits that they can't get away with what they are doing.
http://www.google.com/search?source...13AU228&q=underquoting,+victoria,+real+estate
Loud and Clear
Your frustration with your PM is warranted. Granted that he offered to purchase your home for himself, then without a doubt he is in breach of ethical standards that he is supposed to abide by under Victorian Law.
If however he had an unsolicited offer from a third party that had wished to purchase your home, he is well within his duty to present his landlord's with potential offers to purchase. I do however doubt that this is the case.
The unfortunate fact for yourself and all investors within the Karingal area, is that first home buyers have now turned their sights towards the Frankston South and Frankston Heights markets where bargains are plentiful and larger, more 'developable' blocks are available for prices reflective of early 2007. Recent results in the Karingal area of around $240k are now more common. Lower results are a reflection of poorly presented properties, generally the result of years of tenant abuse.
All this of course is a generalisation. With the current competition in the marketplace, it is clear that those achieving results are well presented and well priced.
Your frustration with your PM is warranted. Granted that he offered to purchase your home for himself, then without a doubt he is in breach of ethical standards that he is supposed to abide by under Victorian Law.
If however he had an unsolicited offer from a third party that had wished to purchase your home, he is well within his duty to present his landlord's with potential offers to purchase. I do however doubt that this is the case.
The unfortunate fact for yourself and all investors within the Karingal area, is that first home buyers have now turned their sights towards the Frankston South and Frankston Heights markets where bargains are plentiful and larger, more 'developable' blocks are available for prices reflective of early 2007. Recent results in the Karingal area of around $240k are now more common. Lower results are a reflection of poorly presented properties, generally the result of years of tenant abuse.
All this of course is a generalisation. With the current competition in the marketplace, it is clear that those achieving results are well presented and well priced.
I assume that should now read: "That he was handling a large chunk of my portfolio is especially galling?
The Property Professor's Top Australian Suburbs
By Peter Koulizos
RRP $34.95
Available in all bookstores
http://aca.ninemsn.com.au/article.aspx?id=660596
Peter has suggested buying undervalued suburbs close to the beach and city. In his broadcast he only mentions Frankston, Seaford and Carrum and lists others (top 20) Melbourne suburbs that he expects will boom in the next few years.
Thought this may be of interest.
Toni
By Peter Koulizos
RRP $34.95
Available in all bookstores
http://aca.ninemsn.com.au/article.aspx?id=660596
Peter has suggested buying undervalued suburbs close to the beach and city. In his broadcast he only mentions Frankston, Seaford and Carrum and lists others (top 20) Melbourne suburbs that he expects will boom in the next few years.
Thought this may be of interest.
Toni
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latest REIV figures
Regarding the latest REIV figures, it is interesting that Frankston moved up when the greater Melbourne median moved down. The problem for Frankston/Seaford is that commission hungry salesmen - most of whom don't even own property -are talking the area down. Lower prices mean higher tunover and more money in their pockets.
Be wary of agents. If they don't own property locally, don't bother talking to them. Most are disloyal tossers
Regarding the latest REIV figures, it is interesting that Frankston moved up when the greater Melbourne median moved down. The problem for Frankston/Seaford is that commission hungry salesmen - most of whom don't even own property -are talking the area down. Lower prices mean higher tunover and more money in their pockets.
Be wary of agents. If they don't own property locally, don't bother talking to them. Most are disloyal tossers
Don't blame the world
New High has had a bad experience, attributing this to the agents of Frankston. Im sure agents have got enough on their plate dealing with difficult vendors (sound familiar) and tenants than having to be persecuted simply for the proffesion they choose.
Put yourself in their shoes. Valuing property and taking it to the market in the current economical climate must be extermely difficult as buyers are more and more savvy about purchasing.
Give the agents a break. They are living and breathing this market 24 hours a day. Don't blame them for the depreciation in value on your property, and don't chastize the entire hard working group of agents around Frankston trying to do the best by the vendors.
New High has had a bad experience, attributing this to the agents of Frankston. Im sure agents have got enough on their plate dealing with difficult vendors (sound familiar) and tenants than having to be persecuted simply for the proffesion they choose.
Put yourself in their shoes. Valuing property and taking it to the market in the current economical climate must be extermely difficult as buyers are more and more savvy about purchasing.
Give the agents a break. They are living and breathing this market 24 hours a day. Don't blame them for the depreciation in value on your property, and don't chastize the entire hard working group of agents around Frankston trying to do the best by the vendors.
Wow that's the first time I've heard somebody show some compassion for agents. Personally I put them in the same category as rapists.
I'm sure the boom earlier this year has earned them enough commission to see them through the winter.
agents cause real harm
Funkysouth is showing compassion to agents because he IS an agent! And like most agents, he is aware that cheaper houses are easier to sell - hence the need to talk down the market with prophecies of doom.
A friendly local agent once confided in me (over a few drinks) that he'd prefer to see Frankston houses selling for around the $230k ballpark. "we prefer to work on fast sales and high turnover rather than wasting time trying to get the highest possible price; it takes too much of our time; a cheap house is always easier to sell. Selling houses at around half the melb median suits us agents just fine because few of us own property locally".
The usual modus operandi: Frighten a few grannies with talk of an oncoming world depression and persuade them to sell their houses for barely half the Melb median price. Then use the resulting low sale price as "evidence" that prices are falling. Show the lowest sales figures to homeowning mums and dads in the area in order to markedly reduce their price expectations.....thereby setting off a downward spiral in prices. Sex things up a bit more by telling people the marina will never be built and that "now is the best time to be selling, before the global meltdown kicks in".
This is akin to shouting "fire" in a crowded cinema. It is not a victimless crime. It causes real harm and peoples lives can be severely affected. Local mums and dads who have worked hard to buy their homes are hurt the most.
After inflation, many frnkston homeowners are often persuaded to sell for less than what they originally paid for their homes all those years ago. How ethical is that? But no matter - the agents always get paid their commission. That is all they usually care about: Me,myself I - bug*ger the rest of you!
So when Funkysouth tells us to "wait your turn" or "be patient" etc he really has a vested interest which he is trying to protect. He is probably a nice fellow and works very hard but I somehow doubt that he, like most agents, owns much property locally. He probably has kids to feed and that is why he does what he does without contemplating the harm done to others.
Another trick many agencies use is to accept a homeowner's initial listing price and then not answer calls from prospective buyers.The agent then tells the vendor that there's been no interest from prospective buyers ("its the world economy mate") and he should lower his price. Once the price is lowered, the house is sold in a flash.
There are severe penalties - including jail - for price fixing and market manipulation. The law eventually catches up with people who consider themselves untouchable. Go ask Mr Lowy. The conduct of many agents in Frankston is reprehensible and hurts mum and dad owners and investors.
"After inflation, many frnkston homeowners are often conned into selling their homes for less than what they originally paid all those years ago"
Funkysouth is showing compassion to agents because he IS an agent! And like most agents, he is aware that cheaper houses are easier to sell - hence the need to talk down the market with prophecies of doom.
A friendly local agent once confided in me (over a few drinks) that he'd prefer to see Frankston houses selling for around the $230k ballpark. "we prefer to work on fast sales and high turnover rather than wasting time trying to get the highest possible price; it takes too much of our time; a cheap house is always easier to sell. Selling houses at around half the melb median suits us agents just fine because few of us own property locally".
The usual modus operandi: Frighten a few grannies with talk of an oncoming world depression and persuade them to sell their houses for barely half the Melb median price. Then use the resulting low sale price as "evidence" that prices are falling. Show the lowest sales figures to homeowning mums and dads in the area in order to markedly reduce their price expectations.....thereby setting off a downward spiral in prices. Sex things up a bit more by telling people the marina will never be built and that "now is the best time to be selling, before the global meltdown kicks in".
This is akin to shouting "fire" in a crowded cinema. It is not a victimless crime. It causes real harm and peoples lives can be severely affected. Local mums and dads who have worked hard to buy their homes are hurt the most.
After inflation, many frnkston homeowners are often persuaded to sell for less than what they originally paid for their homes all those years ago. How ethical is that? But no matter - the agents always get paid their commission. That is all they usually care about: Me,myself I - bug*ger the rest of you!
So when Funkysouth tells us to "wait your turn" or "be patient" etc he really has a vested interest which he is trying to protect. He is probably a nice fellow and works very hard but I somehow doubt that he, like most agents, owns much property locally. He probably has kids to feed and that is why he does what he does without contemplating the harm done to others.
Another trick many agencies use is to accept a homeowner's initial listing price and then not answer calls from prospective buyers.The agent then tells the vendor that there's been no interest from prospective buyers ("its the world economy mate") and he should lower his price. Once the price is lowered, the house is sold in a flash.
There are severe penalties - including jail - for price fixing and market manipulation. The law eventually catches up with people who consider themselves untouchable. Go ask Mr Lowy. The conduct of many agents in Frankston is reprehensible and hurts mum and dad owners and investors.
Hey we all have opinions and mine is fueled by multiple negative experiences. How ironic; he turned out to be an agent. Judging by your comment I would say you're an agent too
That's all I have to say to you. I'm not your buddy.
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agents - stop trolling
Ditto. Good on you Matt. I to have had many, many bad experiences with local agents. Most are totally disloyal and would sell their grandmothers given half the chance.
Agents please take note: these threads are for investors. The presence of agents is not something most of us welcome as you folks have your own agendas. To the twit agent who asked us to "wait your turn" can I suggest that you go elsewhere to do your thing? Unless you INVEST in Frankston or plan to do so, maybe you shouldn't be posting here.
Ditto. Good on you Matt. I to have had many, many bad experiences with local agents. Most are totally disloyal and would sell their grandmothers given half the chance.
Agents please take note: these threads are for investors. The presence of agents is not something most of us welcome as you folks have your own agendas. To the twit agent who asked us to "wait your turn" can I suggest that you go elsewhere to do your thing? Unless you INVEST in Frankston or plan to do so, maybe you shouldn't be posting here.
Next Steps for Safe Boat Harbour - Frankston City News December '08
Preparation of public tender documents for the Frankston Safe Boat Harbour is underway. Council voted to move the project forward at a Special Council Meeting following the State Government's approval of the project.
Council will now take over the role of Committee of Management (Land Manager) over the area of crown land to be leased for the Frankston Safe Boat Harbour once a successful tender has been selected.
The probity Plan and Tender documentation will incorporate Design Guidelines and Traffic Management controls approved by the Planning Minister.
The Priority Development Panel's report to the Minister has ensured a number of imperatives are addressed, including safeguarding the Frankston Beach and protection of environment. Excellence in design, a high quality public realm and strong linkages to the city centre.
This is reinforced in the proposed amendements to the Frankston Planning Scheme which requires the successful developer to do initial concept designs that have to be tested for environmental impacts before commencing the detailed master design for the facility. Council will continue to advocate for the State Goverment to fund stabilisation works at Olivers Hill.
A time frame has been adopted, with required amendments to the Frankston Planning Scheme to be made by the end of this year and tenders to be called for from early 2009. A Successful tenderer is expected to be announced in June, 2009
Toni
Preparation of public tender documents for the Frankston Safe Boat Harbour is underway. Council voted to move the project forward at a Special Council Meeting following the State Government's approval of the project.
Council will now take over the role of Committee of Management (Land Manager) over the area of crown land to be leased for the Frankston Safe Boat Harbour once a successful tender has been selected.
The probity Plan and Tender documentation will incorporate Design Guidelines and Traffic Management controls approved by the Planning Minister.
The Priority Development Panel's report to the Minister has ensured a number of imperatives are addressed, including safeguarding the Frankston Beach and protection of environment. Excellence in design, a high quality public realm and strong linkages to the city centre.
This is reinforced in the proposed amendements to the Frankston Planning Scheme which requires the successful developer to do initial concept designs that have to be tested for environmental impacts before commencing the detailed master design for the facility. Council will continue to advocate for the State Goverment to fund stabilisation works at Olivers Hill.
A time frame has been adopted, with required amendments to the Frankston Planning Scheme to be made by the end of this year and tenders to be called for from early 2009. A Successful tenderer is expected to be announced in June, 2009
Toni
Beautifying Kananook Creek Boulevard - Frankston City News '09
Frankston's Connection between the city centre and Frankston Waterfront is about to be transformed with site works commencing on the Kananook Creek Boulevard before Christmas.
The preferred contractor has been appointed by Council and following establishment work, construction will start around 15 January, 2009 with completion expected December, 2009.
There will be minimal impact to car parking arrangements between Wells Street and Playne Street.
Toni
Frankston's Connection between the city centre and Frankston Waterfront is about to be transformed with site works commencing on the Kananook Creek Boulevard before Christmas.
The preferred contractor has been appointed by Council and following establishment work, construction will start around 15 January, 2009 with completion expected December, 2009.
There will be minimal impact to car parking arrangements between Wells Street and Playne Street.
Toni
My head just fell off from laughing so hard!
Have to agree; this is an investors' site, and we have to deal with agents both good and bad, and comments for either side are going to come up all the time.
Bad experiences are all too common unfortunately, and will always produce the most emotional responses.
If you are an agent and don't like the conversation; there's the door, and feel free to be the white night who single-handedly cleans up your profession.
doctors investment haven
Frankston-Seaford has attracted a substantial number of investors from the medical fraternity. I personally know 4 doctors and 3 nurses who have bought houses in Frankston or Seaford in the last year. Undoubtedly, these two areas are the cheapest beachside suburbs in the country. A far better investment destination for our Super than the stockmarket.
I'm interested in buying in Frankston and/or Seaford and have visited this board from time to time. I have rung around and spoken to local agents and I must say I concur with other people posting here in that most agents seem to have a disgraceful attitude. Most never bother to return my calls. They are either too busy, too lazy or perhaps they just lack good manners.
Personally, I love the area and I think it is excellent value, given the location and infrastructure. I don't need to be convinced: My decision to buy is fait accompli. I certainly don't need salesmen to persuade me of the merits of Frankston-Seaford.
Sadly, when I make enquiries, most sales agents seem indifferent and I find their nonchalance worrying. Someone mentioned that local agents don't own property locally. This troubles me. Like rotten apples in a barrel, cavalier agents can do great harm to a suburb. If they don't own locally why should they care about long-term investment prospects for the neighborhood? Worst of all, will I have to deal with these same buffoons when I decide to sell someday?
I know the suburb is destined to outperform.
Damn shame about the agents.
Frankston-Seaford has attracted a substantial number of investors from the medical fraternity. I personally know 4 doctors and 3 nurses who have bought houses in Frankston or Seaford in the last year. Undoubtedly, these two areas are the cheapest beachside suburbs in the country. A far better investment destination for our Super than the stockmarket.
I'm interested in buying in Frankston and/or Seaford and have visited this board from time to time. I have rung around and spoken to local agents and I must say I concur with other people posting here in that most agents seem to have a disgraceful attitude. Most never bother to return my calls. They are either too busy, too lazy or perhaps they just lack good manners.
Personally, I love the area and I think it is excellent value, given the location and infrastructure. I don't need to be convinced: My decision to buy is fait accompli. I certainly don't need salesmen to persuade me of the merits of Frankston-Seaford.
Sadly, when I make enquiries, most sales agents seem indifferent and I find their nonchalance worrying. Someone mentioned that local agents don't own property locally. This troubles me. Like rotten apples in a barrel, cavalier agents can do great harm to a suburb. If they don't own locally why should they care about long-term investment prospects for the neighborhood? Worst of all, will I have to deal with these same buffoons when I decide to sell someday?
I know the suburb is destined to outperform.
Damn shame about the agents.
successful marina tender due soon
A successful tender for the marina will be announced in June 2009. The marina is now approved by all levels of government and all that remains is for it to be built. According to a pediatrician friend (he is an avid yachtie) the announcement of the successful tender will reignite gentrified interest in Frankston-Seaford. He bought 3 houses locally this year, ahead of St Kilda's decision to move to Seaford . My friend is approaching retirement age and is planning to establish a part-time clinic locally. His son is involved with St Kilda and that had some impact on his decision to make the move bayside.
I hope to enter the Frankston market sometime in early 2009, after I sell my holiday home in Portsea. My colleagues at work suggested buying old houses on larger blocks in Frankston-Seaford-North Frankston with a view to redeveloping in a few years. Any ideas? Please share.
Whatever I buy will be rented out and will be part of my superannuation plans. I may make the move to Frankston or Seaford when I retire in a decade or so from now, somewhere close to the marina where I hope to keep a yacht.
Thanks Matt for the good tip: I only want to deal with agents who own-invest locally. I'd trust their advice more than that of other fly-by-night operators who benefit from churning the market to get listings. I'm going with the smart money and agents who don't own-invest locally are off my radar as they don't have a stake in the area's long term future.
I'd appreciate any advice from people who are bullish about the area. Please post here so we can all share, learn and profit together.
A successful tender for the marina will be announced in June 2009. The marina is now approved by all levels of government and all that remains is for it to be built. According to a pediatrician friend (he is an avid yachtie) the announcement of the successful tender will reignite gentrified interest in Frankston-Seaford. He bought 3 houses locally this year, ahead of St Kilda's decision to move to Seaford . My friend is approaching retirement age and is planning to establish a part-time clinic locally. His son is involved with St Kilda and that had some impact on his decision to make the move bayside.
I hope to enter the Frankston market sometime in early 2009, after I sell my holiday home in Portsea. My colleagues at work suggested buying old houses on larger blocks in Frankston-Seaford-North Frankston with a view to redeveloping in a few years. Any ideas? Please share.
Whatever I buy will be rented out and will be part of my superannuation plans. I may make the move to Frankston or Seaford when I retire in a decade or so from now, somewhere close to the marina where I hope to keep a yacht.
Thanks Matt for the good tip: I only want to deal with agents who own-invest locally. I'd trust their advice more than that of other fly-by-night operators who benefit from churning the market to get listings. I'm going with the smart money and agents who don't own-invest locally are off my radar as they don't have a stake in the area's long term future.
I'd appreciate any advice from people who are bullish about the area. Please post here so we can all share, learn and profit together. 
