Did I just Hear you say the bottom was hit. and what happened? I am not foolish I understand your point about the inventories but we can thank Our local goverment for giving so many permits out to build more before the market is cleared of old inventory. But dropping your price still does not fix that problem. Or does it?
Misguidance on Real Estate plunge
- Thread starter Rutger
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According to the laws of economics it does. The ying and yang of real estate! Remember, many folks like to see these prices drop
Uhh, I don't believe the "government" regulates real estate market inventory. One has nothing to do with the other and shouldn't ever have anything to do with each other.
Fellars your beaten me over like I was a rusty nail. In da words of dat feller who got da ba jeeb buzz beat out of him,Can'tz wez juz getz along?
:roll:
This one's for you 2b:
(Economic Basics: Supply and Demand)
The phase "All other factors remaining equal" alludes to the group of products with essentially the same characteristics that any buyer is looking to purchase. This could be as broad as "beachfront properties in the USA" OR "properties in the State of Florida" to as narrow as "condos in one building"
Take notes, there will be a pop quiz later in week.
Shel.
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This one's for you 2b:
(Economic Basics: Supply and Demand)
The phase "All other factors remaining equal" alludes to the group of products with essentially the same characteristics that any buyer is looking to purchase. This could be as broad as "beachfront properties in the USA" OR "properties in the State of Florida" to as narrow as "condos in one building"
Take notes, there will be a pop quiz later in week.
Shel.
/
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b2fabian, you are missing two important points:
1. All sellers are not the same (with regard to want/need/don't need to sell)
2. Sellers do not dictate selling price by themselves - there is only a selling price established when a buyer agrees to buy.
It would great if ALL sellers could sit for months and months and hold firm but most of the time, you will have some sellers that NEED or HAVE to sell but you will almost never have buyers that NEED or HAVE to buy.
1. All sellers are not the same (with regard to want/need/don't need to sell)
2. Sellers do not dictate selling price by themselves - there is only a selling price established when a buyer agrees to buy.
It would great if ALL sellers could sit for months and months and hold firm but most of the time, you will have some sellers that NEED or HAVE to sell but you will almost never have buyers that NEED or HAVE to buy.
...then there is the "level-headed actual investor" (seller) who is smart enough to realize it may be good time to take their profits off the table and enjoy them or move on to something else.
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Please someone in the know please post the APPROVED development orders for both large and small parcels in South walton and the land use changes that allow 8 or 10 per acre(infill). I just would love to know just how many lots there are waiting in the wings...My guess is 10,000 give or take a few. Add those to your inventory already on the market and then ask what does that pressure put on declining prices? While I agree the government does not regulate sales they are doing there best to establish a bottom price in Freeport and indirectly are regulating a lack of sales due to increased taxes.