South Walton Gold Rush

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If you ask Brian Kozak and Billy Richardson why they love living in south Walton, they'll give you a host of reasons. One of the biggest is the skyrocketing value of their home.

"Two years ago we purchased a townhouse in Kissimmee and we purchased that for one nineteen and now they're going in the two hundred's, so in a matter of two years we've doubled our money on the townhouses and we closed on this property June 11th and closed at 300 and we can list this now in the fives."

And they're not the only ones. This house in August 2001 sold for $380,000, nearly three years later the value has risen to $466,000. Realtors say some property owners have gotten more than 100 percent return on their property investments, and the trend shows no sign of slowing.

It's a supply and demand situation. As long as supply is here, we have the demand. When supply gets short, our demand goes up or our price goes up, and up, and up. Builders will list an unfinished house for nearly $1 million and it's not even on the water!

So why south Walton? Because of the old real estate saying "location, location and location.

"It's been undiscovered. People are just now starting to find it and they're grabbing whatever they can. We're just fortunate and lucky that we got a part of it."

And the value of that "part" just keeps going up.