Oceanfront property is not cheap. Period.

Location, Location, Location.  Ring a bell.  Heard it for 40 years in the business.  Still rings true.  Ideal locations will always cost more.  Just the way the world of supply and demand works.  Thanks for the great post.

Agents who work in areas with waterfront properties soon learn about the "Waterfront Premium". 

It's significant in Maryland and I've found few consumers who understood that premium until they contact me looking for "cheap waterfront" home.

No such thing.

Hella, beautiful oceanfront property you have listed at 1500 Pebble Beach Drive, quite spectacular views of the Pacific Ocean.

Waterfront is always a premium. In central Florida even a ditch that most northerners do not consider a lake, carries a higher price tag.

I had a buyer aka dreamer call yesterday with a champaign appetite and a beer budget.  Nice guy...loved talking to him, but could not help him.

Eve  in Orlando

Yep.  You want oceanfront, you will pay.  Don't even start arguing with me on price per square foot with the house across the street.

Hella, there is a premium price to pay for location, location, location, especially when it is water front property.

Hella- Selling lakefront properties I deal with these same callers ALL the time. The most common response I get from people is "don't the sellers know what's going on in the economy?"

Interestingly I learned it is much cheaper in other parts of the world.  What costs 500k and up in the U.S. you can pick up for under 200k.  Of course the flight is not cheap but the difference in price may be worth it!

And it should be expensive.  It's oceanfront property.  Who doesn't want to live by the ocean?  The smell, the sound, the relaxation...  wishing I was there right now!  

In Tahiti, it is more expensive to live on the water than next to it...One accommodation ($$) has it set up so that you can roll off your bed into a hole in the floor and go swimming. The lesser one has you having to get up and walk to the shore (10 feet) and go swimming...too much

Hella,

Its that same mindset everywhere. We don't have an ocean in North Texas, but we do have some extremely high dollar properties. We get folks all the time asking us how just 1 acre of dirt can cost $300,000+ dollars. We patiently explain and they decide to build down the street.

-Brent

Hella, great post.  We get our share of these calls and because of the media coverage of FL's market in the last couple of years, the callers seem to think they can grab a beach house for the same price as the one two miles inland.  I thought they are naive to real estate values, but I think you are right, they are dreamers.   

California does have a pretty coastline recently visited the Pismo Beach area. There is only so much coastline available. Best of luck and a quick sale with this listing.

Hella I live 300 yards from the ocean a "long walk":)) I will keep it in mind when I am ready to retire:))

Hella, you are absolutely right about it being nearly impossible to build a coastal home because of the California Coastal Commission. Your comment on Carmel-By-The-Sea ocean views that impact the price of real estate reminded me of Hawaii, where "ocean view" means that if you stick your head out the window, you can see a tiny glitch of the ocean! Oceanfront is the real deal, though...and you can just imagine the premium on those properties in the Aloha State! :)

Leilani