Annual Northern Migration
The
recent warm weather has been a blessing to businesses that benefit
from our visitors enjoying the beaches and the water, but a caution
signal to others. While everyone enjoys the outdoors and the
activities associated with a nice winter vacation, the unseasonable
national temperatures have many of our winter residents planning on
returning to their summer homes up north sooner than usual.
The annual northern
migration is usually in full swing by Easter, which falls on March 31
this year. We would normally expect to have about
six more weeks of "season," but this year may be "shorter"
and result in lower sales volumes for the stores and restaurants that
depend on the winter season to carry them through the lean summer
months. As our community moves toward a more balanced economy, the
effects of the summer hiatus will be lessened. It will never be the
same as elsewhere in the country simply because of where we are, but
it will change.
The
season in the '50s in Miami began with the opening of Tropical Park
race track in November, reached it's peak with Hialeah six weeks
later, then ended with the annual closing of Gulfstream Park in
April. Horse racing, dog racing and Jai Alai were the big draws to
South Florida then, along with the marvelous weather, before Mickey
put up the vacation sidetrack in Orlando and the cruise ships at
Dodge Island began carrying the winter visitors to the Caribbean.
Florida's Gold Coast has found the winter season has changed
drastically in the last 30 or 40 years. Southwest Florida's Sun
Coast's winter season will change too, but for different reasons.
Southwest
Florida's big draw has been value. The cost of maintaining a vacation
home here was considerably lower than most other places in the
country. The beaches were clean and the groceries were cheap.
Florida still doesn't tax groceries or medicine. Those who move here
as residents find there is no state income tax. If you live here,
you get a $25,000 property tax break called "homestead
exemption." There is no need for heating oil and rarely do you
have to replace a winter coat or jacket.
Electricity was cheap by
national standards, and back then. so was water. However,
the price of single family homes is now skyrocketing. helped along
with quick and painless low interest financing. The homes that were
on the market five years ago in the low $110,000 to $115,000 range
are now in the $165,000 to $170,000 range. Land on usable waterfront
property is going up even faster. One home on Cabaret had it's
property appraisal shoot from $138,000 last year to $182,000 this
year based on sales in the area!
The
worldwide marketing campaign once waged by General Development Corp.
for Florida property has now been replaced. Instead, local Realtors
have accepted the marketing of Southwest Florida as a great place to
live. As more people call the Sun Coast home year round, the effects
of our seasonal residents will be less and less.
George
Mindling ©
2002
