17 Months on the Market - Sold!!!!

[Bobby J]

Hey,
The Real Estate market might be looking upward
a bit!! Last Friday, we closed on our Tivoli by The
Sea villa in Sandestin.....we are elated!! Now, we
can spend more time in Seagrove Beach!! We're
now going to be able to look at lot/lots to sit
on once the new Airport arrives and things pick up
in the area once again... The area is way too
beautiful for it to sit stagnant much longer....
great beaches, airport coming and NO HURRICANES!!
We don't want to be lot lurkers too long!!!
Oh I forgot, the mecca of 5 Star restaurants and shopping
in the area now and the Williams Sonoma store that
just opened over the weekend in Destin..... too...
Great assets for the whole South Walton Beach area!!!

I received a call from a friend whom I sent down
to Seaside/Seagrove 3 weeks ago to check out
her daughter having her wedding on the beach
next July. Yesterday, she called and stated.....
why didn't you tell me.....that's the most beautiful
beach in the world!!! I told her husband.....I'm now....
the new beach wedding planner!!! He said "not"!!!!!
I'll try and keep my mouth closed about the area; however,
I just get sooooo excited just talking about it!!

Anyway, now since I've had the Tivoli name....should
I change it or keep it the same? It might be bad karma
to change to "Shore Thing"....I don't know.......give me
some advice??

Also, we had a new Virtual Tour taken by Kurt....last
week.....it turned out great as Kurt's work always does!!
The sun came out right after he arrived ........
Take a look:
http://www.emeraldcoasttours.com/117northryanstreet

Congrats on your sale and the positive vibe!

 

[hi n dry]

I hope this is a sign the market is coming back.

However, with the rising insurance and property tax costs of living here I am not optimistic.

 

[SHELLY]

I hope this is a sign the market is coming back.

However, with the rising insurance and property tax costs of living here I am not optimistic.

The market "coming back" from what? According to the hired guns at the NAR, 2006 will "go down as the third best year on record." (I'm assuming 2005 & 2004 are #1 & #2).

So all things being equal, this year was a pretty great year for real estate....no?

 

[Bobby J]

For some it was a good year... For others it was a bad year. Personally, not a bad year.

 

[SHELLY]

... For others it was a bad year.

....like down Tampa Way?


.

 

[olive]

CONGRATULATIONS!! :clap_1:

Sorry I missed you while you were here!

 

[hi n dry]

I just talked to friends of ours who spent the entire weekend looking for property. They came down here to buy.

They were shocked by how much property is for sale.

They also heard from some contacts that there are some contractors, real estate companies, and developers ready to go under.

They feel the market has much farther to go before it hits bottom and are very reluctant to buy under these conditions.

Their impression is that buying now would be like trying to catch a falling dagger-you don?t know if you are going to grab the handle or the blade.

 

[Bobby J]

I just talked to friends of ours who spent the entire weekend looking for property. They came down here to buy.

They were shocked by how much property is for sale.

They also heard from some contacts that there are some contractors, real estate companies, and developers ready to go under.

They feel the market has much farther to go before it hits bottom and are very reluctant to buy under these conditions.

Their impression is that buying now would be like trying to catch a falling dagger-you don?t know if you are going to grab the handle or the blade.

That seems to be the average buyers view point. What I see now is the bigger investors sneaking in here while the rest of the "herd" is running. They like the "herd" going the other way... Like Shelly says when everyone on this board agrees this market is flat it will then begin to come back. That is when the leaders of the "herd" begin to pull out. They once again will have made their money while we are all trying to figure out what the market is doing.....

 

[fisher]

That seems to be the average buyers view point. What I see now is the bigger investors sneaking in here while the rest of the "herd" is running. They like the "herd" going the other way... Like Shelly says when everyone on this board agrees this market is flat it will then begin to come back. That is when the leaders of the "herd" begin to pull out. They once again will have made their money while we are all trying to figure out what the market is doing.....

No, that seems to be the smart person's point of view. I don't see any investors "sneaking" into the market. In fact, some have been downright bold as with SJ's $50M man/woman. And, even with those folks lurking, it doesn't appear that anything much is moving. Virtually no sales in Alys, Seaside, The Preserve, Cypress Dunes, for a while now and only one or two a month in WaterSound, Watercolor and Rosemary.

It took a long time for everyone to see the writing on the wall that was apparent to some back in mid 2005 and it's going to be a long, long time before things turn upward. When, and only when, inventories fall drastically will the market turn around. As long as inventory is very high and builders/investors are sitting on lots and homes that really need to move, the market will continue to fall. Check out the monthly stats in the Sun and you will see a picture painted of a crash between 2005 and 2006. Anytime average prices in a market fall 15 to 20% or more it's called a crash.

 

[hi n dry]

Another realtor friend of mine told me that there has been hundreds of foreclosures in PCB.

Preconsturction buyers are backing out and the condo is being resold for less than half of the original preconstruction price!

My question who would buy a Gulf front condo in PCB or even Destin which has low elevation where the sand under the condo could be washed away in the next hurricane and is burdened with sky high condo fees, and flood and windstorm insurance expenses?