Pinellas Waterfront Property Values and the BP Oil Spill
Pinellas waterfront property buyers are asking us questions about the impact of the BP oil spill on Pinellas County home values. Will the spill reach our beautiful beaches? That’s the $6M question. And yes, we too are concerned about our beaches and home values. 
Here’s a shot from our trip to Honeymoon Island last weekend, and of course you’ll note from this picture that no oil has hit our beaches - nor has any been detected even many miles off our coast. Some say that because of the gulf stream that’s unlikely to happen unless perhaps we get a hurricane. What would happen to home values if the oil comes ashore in Tampa Bay? Governor Christ said Wednesday in a special session of the Florida Legislature that “It is logical to predict that the oil spill will result in declining property values” as reported here by the Florida Association of Realtors.
I wish we had more to offer than the thought that worrying about the oil spill is like worrying about a hurricane. We Floridians love it here for so many reasons – including our glorious white sand beaches. Ask most any Floridian and they’ll tell you we don’t stay up nights worrying about hurricanes, getting hit by a bus or terrorist attacks.
Meanwhile, we’re seeing that Pinellas Waterfront property prices of homes under $400K are stabilizing.
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