Peter Mohylsky Welcome to Florida's Emerald Coast
This week's presenter for the Zoom call was Peter Mohylsky, on the area he has called home for many years, the stretch of Florida along the panhandle from Pensacola to Panama City called the Emerald Coast and in the early February time frame it is swamped with spring breakers from the surrounding states.
Even though there are airports nearby, the majority of visitors to the area come by vehicle allowing for an average of an 8-hour drive. This is due to the many toys they bring to play in the surf of the Gulf.
His primary marketing area is an area between Pensacola and Panama City Florida, on the Panhandle of Florida.
He landed in Florida while spending 23 years in the Air Force, and the airbase right there on the panhandle.
With regards to demographics, the population of that area as of the 2020 census was app 75,000 people and in season, when kids are out of school, the population increases by 3X.
As for industry, the infographic offered by the town's governing body shows that the main business is Tourism, and when the crowds are there the coffers fill. The Pandemic afforded the economy a record amount as people strove to just get out.
Residential housing is very representative of a vacation area with the bulk being condos along the shore area with many allowing sort term rentals which cater to visitors and investors as well.
While some associations may try to block short term rentals, the majority of them will not cater to that.
The beach is extensive and as will happen in areas a part of the population is trying to get areas restricted for residents only especially those that own along the beach area.
Property rights advocates, going back to Native Americans contend that they were visiting the water long before anyone claimed to own a portion of any beachfront area and that it should remain available for all. This is a contentious issue that will continue until it gets to the US Supreme Court.
Peter spoke of the property in the right photo as a rental property in the Watercolor subdivision that is a vacation rental with 5 bedrooms, carriage house with studio, a pool.
It was the most expensive house he had sold in the area, and at that time it surpassed over $4,000,000
Typical rentals run from Sat to Sat with entry no earlier than 4 and all occupants must be out by 10 AM.
A typical vacation has the occupants at the shore the first 3 days, and then at the house in the pool. By mid-week, all are looking for something different to eat and that's when the restaurants get crowded. The tourists own the grocery stores on Sat and Sundy and that's when the locals go out to dinner, and no reservations are taken.
Peter's specialty is vacation condos and they are all over the market in size and price points.
The vistas will vary depending on location and some still have some restrictions as to vacation rentals. There are golf cart communities as is typical of senior living areas.
As a result of the collapse that was so prominent in South Florida, there are not regulations that will mandate more scrutiny and inspections of some of the condo complexes along the shore area especially.
This is still in process and eventually it will be in full impact by December 2024.
It was an entertaining presentation and Peter was most gracious with his hospitality offering his bunk beds should anyone from ActiveRain wish to visit him.
Peter Mohylsky Welcome to Florida's Emerald Coast
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