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Soaring property taxes are definitely a double edged sword. My taxes will be well over $12,000. In looking at the Walton County website, it doesn't look like any of the property tax assessed values have been updated. I really want to compare my values to other homes around me to see if mine...

I heard today that a couple of houses went pending in Watercolor recently. One was in Phase III and the other was in Phase II. The list prices were pretty decent so maybe you are beginning to see a change in the recent trends.

Lighten up Doug. I was being facetious based on others comments about prices. I personally wish prices would skyrocket or at least that the market would firm up a bit.

Thanks Joe. We were just down at the house, and every time we're there, we think twice about selling it. Then, we come home, the bills keep coming, hurricanes keep hitting the US and we leave it on the market hoping it will sell. I know that sounds very wishy, washy, but I'm sure you...

There were two lots on 30A in the release and they are still for sale. Originally, I believe both were $1.5 million plus. But, good news, the price on one has dropped to $1.35 million. Yee ha!

Four of the six nice lots (non-Phase IV) that were offered in the August developer release in Watercolor are still for sale. Not sure how many of the Phase IV lots sold in the developer release. The two on 30A with potential gulf views are still for sale.

I can only say, Skier, that you don't know me and have no right or basis to tell me what I would do in a situation. I'm not a car salesman. I'm not in real estate because I can't do anything else. Cork, You are absolutely right. I was wrong to imply what I did. Disagreeing about trends...

Cork, In response to your responses-- You're data is outdated. Lot 61 is listed for $595. Started at $799, dropped it to $650K. It went under contract in 10 days and busted. Relisted for $595K And, your point is what. That I was right that prices are falling. Lot 63 way...

Cork, You forgot to mention Rosemary in your previous comparisons. According to the Walton County records there were 50 closings of IMPROVED properties from 1/1/04 to 7/31/04. From 1/1/05 to 7/31/05 there were only 19. Also, the available inventory has at least tripled since last year...

Hey Cork, The definition of market price is what a willing buyer will pay a willing seller for an item in a free market. So, you need to do some more homework. Prices are definitely falling. The examples in watersound are just a few. I never said the sellers weren't making money only...

To skier, is there just no foot traffic or are there a lot of lookers and no takers...are agents showing a lot of property or are they just sitting around trying to work their existing book? The realtors I talked with say there are very few people actually looking right now, but "there are...

Now that's funny!

Wetwilly Check it out, the post about Seaside was by a new member named Skieir. Not by me.

Oops I'm busted. I am an investor sitting on the sideline with millions of dollars just waiting for the chance to pounce. By posting fabrications on this board, I know that I can create a panic. Then, I can swoop down and take my pick of the beautiful houses and lots. You got me. Dagnabit...

Cork, You are posting general sales data. Not specifics. Here is a specific example of market prices falling rather drastically from a year ago or so. This is a quote from a post on another thread regarding some lots that sold in Watersound last year and this year. The prices have...

Joe, I agree with you. I have yet to see anyone that is currently underwater sell at a loss (but I don't look at but a fraction of the transactions in Walton County). And, maybe no one will. It all depends on how much staying power the investors have. There are a couple of homes in...

Without researching each sale on the Walton County website, my gut tells me that these folks are not losing money. They are getting out before they lose money. However, what about the guy or gal or builder (person A) that bought a resale lot for $900k last summer. Then, due to the...

Hey Doug, Yeah I couldn't resist trying to bring balance to the posts that seem to ignore the current state of the market. It's not doom and gloom. IT'S FACTS and simple reality. Are you and others that don't seem to like my posts opposed to discussing facts and reality??? Prices...

I counted 39 closings for the same period in 2004.

I can't believe I am arguing about a real estate bubble with all the tragedy unfolding in New Orleans, Miss and Ala. Sorry. That's it for me. I'll lurk from time to time. But, no more arguing. Good luck everyone.

Ladies and gents--it's great to have a debate about whether there is a bubble or not and whether or not prices will go up or go down. What I find amazing is that none of you pie in the sky folks will admit that there is a glut in the market--especially in the high end areas of 30A. There may...

You guys know I agree with all the things Shelly has been saying. I am not married to her, but my wife is even more convinced of the bubble than me or Shelly. The "fools" JOe mentions that bought long ago were not SPECULATORS, they were owners that used the properties. The market changed...

Joe, If you check out the average temps during June, July, August and September, the avg highs and lows are almost exactly the same in Destin as they are in Naples. The reason the summer is so slow in Naples is because all the rich retirees go back to NY, NJ, etc during the summer. Whereas...

Mack, Please give some actual examples of resales getting snatched up at prices comparable to homes, lots or condos that sold very nearby last year. Also, these constant comparisons to Naples are interesting and clearly apples to oranges. The reason Naples will likely always command...

Mack, Not sure what deals you are talking about, because the only stuff I see selling along on the eastern end of 30A are at prices that are below the prices paid for very similar properties last year. In fact, several lots in watersound sold recently at prices 20% less that lots next door...

I heard a rumor that the sales agents at Alys Beach are making lots of calls to try to drum up people willing to buy lots. Apparently, lots of people have lost interest and they are trying to find buyers. I also heard a rumor that they are changing the method of offering properties for sale...

Bob, sorry I don't have access to the MLS, but I did look a couple of days ago at one of the local brokers sites. I believe there are over 1100 lots, 550 homes and 200 condos for sale on 30A alone. This does not include any of the lots soon to come on the market in Alys Beach, Watersound...

There are some very interesting articles in the Wall Street journal today regarding the bubble. And, oil prices, interest rate trends, etc. all point to a bubble bursting in overheated markets. But, unlike stock market bubble bursts, the articles say it will be much more subtle and take...

property taxes are supposed to be based on the value of the asset being assessed. With the huge uptick in prices over the last few years, no one should be shocked with the dramatic increase in their tax bill. I don't like it, but I certainly wasn't shocked. The good news is--the assessed...

The reason that the number of people entering the lotteries is decreasing is that most of the people that believe they can buy and flip a property for a short term profit have gone away. There won't be many chances for quick hits. Instead, the people that buy going forward will be long term...

Sue, I still have my house up for sale. I can only afford one second home at a time. Good to hear that the lots got snatched up so fast. As I stated in my original post on this thread, I did have a feeling that the deals looked good on a comparable basis. Looks like there are buyers out...

Doug, Doug, You wrote a very long message saying that I was misleading people in my original post on this thread. You went out of your way to say so. I took great exception to your post directed at me, and I am merely stating facts that back up the points I made in my original post...

doug, Two more comparable properties to lot 63 hit the market recently. The actual price paid for 63 late last year was $899k. As of today, lot 61, 62 and 59 are for sale at prices between $650k and $689k. They all back up to the putting green like lot 63. Some good deals to be had...

So, are you buying now since SoWal is such a good investment compared to Atlanta? Your logic seems to be conflicting--the market is slumping yet you say its also a good investment.

Joe, I've shared my opinions with the forum. I don't need to reaffirm my opinions by posting under another name. Give me a break. Rita, don't read if you don't want to. No conflicting logic here. The market is in a slump. If you can't see the facts right in front of you that the...

For the Health of It!!!! Great folks and very, very reasonable prices. $55 for one hours compared with up to $100 per hour at other places in the area.

And Joe, don't forget that there are absolutely no activities for adults or kids during October. Also, most of the restaurants shut down. So, no need to come down during such a terrible month of the year. :laughing1

This debate might actually help those that don't already own make a more informed decision about buying. For others with a home, it may help them make a decision to sell or sit tight.

Wetwilly, I'm not sure of the average temps, but we have spent a couple of weeks around Christmas and New Years in SoWal the past two years and the weather (except for a couple of days) was wonderful. It is cool, but we had many days that approached the low seventies. Nights are a bit...

Doug, In terms of comps, lot 61 in passages (two lots down from lot 63 you mention above) is for sale for $650k (mls 394250). They are identical in all respects. Please don't try to tell me this is a biased comparison. It's $249k lower than the "market price" for lot 63 when it sold in an...

30A-- Thanks for working on compiling the data. I was surprised to see that inventory was down versus last July in South Walton. The only data from last year that I have to go on is the lisitings of lots, condos and homes in Watersound and Watercolor. In July 2004, there were under 50...

Sue, I did try to answer most of your questions on the other thread. However, I will not answer personal questions on a public forum (ie:which house is mine). Never know who might be lurking. Sorry. Favorite restaurant was Luna Del Mar--hated to see it close. I don't like fancy dining...

see last sentence in post number 4

You're absolutely right Joe--I was jumping to the conclusion that he was married. He only gets $250k if he is single. My mistake--

Not sure I get your point. What relevance does original offering price have to current buyrs? What relevance does ROI have to current buyers? My post was not misleading. I simply went to the Walton County website and pulled the most recent sales data for lots in very close proximity to the...

Good for him! It was pure profit if he had been there for 54 years and the first $500k was not taxable if it was his primary residence! Hes probably an older guy so you can't blame him for selling after dealing with the last 10 months of hurricanes.

Re: Let's all encourage SKIER to lighten up!!! Sueshore, I've been in the market for a couple of years and I only own one property. It is for sale. I don't have issues with any of the big developments, however, I do follow them because the data is easy to get for WC, WS, Seaside and...

30-A, What is the total inventory of units today--lots, condos, and homes versus last year at this time and what is the average list price on the same comp.? Also, how many homes sold in June and July compared to last year? In my opinion, the theory of supply and demand does play even in...

The build out time frame is still over one year away on the lot based on the original sales date per Walton County records. Also, you must simply start construction by the drop dead date, not be complete. My understanding of the penalty situation is that the penalty for not starting by the...

Here is a little more info from a reply I made to Joe on another thread. Here are the most recent and very similar sales of lots on Salt Box Lane where this lot is located (per walton county records). Lot 8--Oct 2004--$780k Lot 63 (passages area)--Sept 2004--$899k Lot 11--July...