Real Estate in Northeast Florida and Around the World

At the top of every newscast, newspaper and radio broadcast is more information on the BP Oil spill.  Why?  Because it is a tragedy of unequaled magnitude that just won't stop. 

Unlike the recent earthquakes that did damage over a matter of seconds, and where cleanup could be estimated and started as soon as the earthquake quieted, this tragedy continues every moment of every day, making the charge to recovery a postponed event with every passing hour.  While BP's people in front of the media may be bungling responses, I have no doubt that there are many, many people working around the clock to discuss, analyze, test and implement the solution.  Engineers typically do not make good spokespeople - they are very good at what they do, but many times lack media worthy communication skills.  Although interestingly, the people that they have put in front of the media didn't get that right either.  I digress. Sorry.

Why am I writing about this?  Because of the direct and indirect effect on the Gulf region and specifically Florida.  In conversation with my colleagues in the gulf areas, they have seen a shying away from prospective buyers from oceanfront property, because of the fear the damage will reduce values along the coast.  The same is said for the already challenged South Florida real estate market.

What about Northeast Florida - what is the risk to our white beaches?  According to studies done at University of North Florida and Jacksonville University, it has been determined that Northeast Florida beaches are at a very low risk of contamination, as the gulf stream that would carry the red-brown sludge around our borders runs from 40 to 60 miles east of our coast line.  This is another blessing to not having the warmer gulf stream waters so close - the other of course, is that hurricances typically like to hold onto that warmth.  Our beaches appear to be safe - and while I hate to even say that because some may say it sounds as if I am bragging about our shores at the detriment to others, I am one that believes the attributes of Northeast Florida are not elevated enough.  Our hearts go out to those in the impacted areas - we also enjoy those gulf coast beaches in our personal lives, and suffer as an industry when our Florida real estate is suffering.  However, if you are a prospective investor who is shying away from Florida real estate because of the oil spill, don't overlook Northeast Florida.

This is not an article to slam BP or promote or condemn off-shore drilling.  Trying to simulate a disaster recovery plan where so many failures occurred is beyond most people's comprehension.  Eventually the facts will demonstrate the points of failure not only from the physical side, but from the planning and management side as well.  I was trained in process improvement and risk analysis in my former career, and what cannot be done now is a knee jerk reaction, even though that feels to us like that needs to be done.  The process to resolve this problem is one step at a time, analysis of all possible solutions and then applying the hypothetical improvement one step at a time.  Because, they have to solve this problem without creating another one.  The emotion that is being displayed from anger to grief does not create a solution - only the methodical scientific approaches that are being discussed and attempted will effectively work. 

My wish and everyone's wish is that whatever the  approach that will finally plug this bounty of oil is found and soon.  Our oceans and the undiscovered wealth of life that it contains and is in jeopardy depend of speed and accuracy in stopping this mess.  Our neighborhoods depend on it - ask me how next time you see me passing through your neighborhood.