Property values take a beating at Beaches

There are 3 comments on the Florida Times-Union story from Jul 11, 2008, titled Property values take a beating at Beaches. In it, Florida Times-Union reports that:

After years of rising property values that made land at the Beaches some of the most valuable in the county, 2008 tax estimates show taxable land values declining or barely breaking even.

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Sad but true

Jacksonville Beach, FL

#1 Jul 12, 2008
I live in Atlantic Beach & had my home appraised in December of 2007 at $180,000. When looking to refinance, just 5 months later, the value is now $140,000.
Galoshes

United States

#2 Jul 12, 2008
I have no idea why the appraisal value went down but does it have anything to do with the risk insurance companies take by covering a home in a location close to a huge body of water?
Fed Up Again

Jacksonville, FL

#3 Sep 17, 2008
Maybe it has something to do with the Section 8 Villas and the garbage associated with those kinds of places, littering up the city.

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