Interesting Data about the Bubble on 30A

[drsvelte]

Well, at least SoWal is not in the top 13

http://www.kiplinger.com/personalfinance/features/archives/2005/07/realestate.html

 

[wetwilly]

Cork,

Great post and data. Do you have any similar data for Seagrove, Seaside/WaterColor, and Blue Mtn? Thanks for the insite for us non real estate types.

 

[skier]

drsvelte,

Not sure if it would have made the list or not, but the study was done on metropolitan areas, not resort areas.

 

[Cavallino]

A Little More Focus

What is the average of 100 and 0?
The answer is 50 - which is really no closer to one than the other.

With that being said, I find "real estate market generalizations without focus and data" to be a waste of time. I would encourage those obsessively watching asking prices/inventory levels to focus on their specific neighborhood.

For example, here is what the data suggests in Watercolor - Phase 1.
- 35 properties for sale <detached single family and lots>
- 229 properties in this universe
- 15.28% of available properties are on the market
- a $3.6mm 4,000 sq ft home went pending this week

Why be so specific.....because condos & PRC units & lots in Phase 4 behind Publix are NOT comps for detached single family homes in Phase 1.

This closer focus shows that while inventory levels are higher than last year, they are nowhere near the levels of earlier posts for the section of the neighborhood that i watch.

The points being.....
- 50 is no closer to 0 than it is to 100
- market comps matter in real estate - not emotional generalizations
- look at closes....not listings
- enjoy the beach


My 2cents...now off my soapbox.

Doug :nono1:

 

[Seahorse]

As much as I would love to believe the positive information, it sure seems that things have ground to a halt. Case in point, Dunes of Seagrove had 6 units for sale in March, 2006--now it has 15 and none of the inventory has been moving. Of course this has not stopped the addition of new units at very high prices.

I too think it is all quite interesting and I still believe this area will always be a tremendous investment opportunity. As for things grinding to a halt, it seems like it is localized. For example, we sold a lot within 6 days of listing it, then purchased a GF condo in late March 05. Within two months two additional condos in our building listed and sold for considerably more than we paid. There are now two more on the market. To put it all in perspective though, our long time realtor said that it's definitely a buyers market right now because so much is on the market at the moment. It will also be quite quite interesting what happens to 30A real estate (and I hope nothing) when the, let's see-what is it, something like 55 high rise condo buildings are finished in PCB. Don't remember the exact numbers, but it will be interesting to see if this "market flooding" will effect us. IMHO, I say no......30A is a very very special place, not even comparable to almost anywhere on the map....

 

[wetwilly]

Re: A Little More Focus

What is the average of 100 and 0?
The answer is 50 - which is really no closer to one than the other.

With that being said, I find "real estate market generalizations without focus and data" to be a waste of time. I would encourage those obsessively watching asking prices/inventory levels to focus on their specific neighborhood.

For example, here is what the data suggests in Watercolor - Phase 1.
- 35 properties for sale <detached single family and lots>
- 229 properties in this universe
- 15.28% of available properties are on the market
- a $3.6mm 4,000 sq ft home went pending this week

Why be so specific.....because condos & PRC units & lots in Phase 4 behind Publix are NOT comps for detached single family homes in Phase 1.

This closer focus shows that while inventory levels are higher than last year, they are nowhere near the levels of earlier posts for the section of the neighborhood that i watch.

The points being.....
- 50 is no closer to 0 than it is to 100
- market comps matter in real estate - not emotional generalizations
- look at closes....not listings
- enjoy the beach


My 2cents...now off my soapbox.

Doug :nono1:

Doug,

Agree. In my opinion, sweeping market data and generalizations may show some trends...may not....but a focus on comps and criteria (close to the beach, So of 30A, good access etc) seem to help in putting some of this in perspective. Good, solid criteria that is used for buyers/sellers will prevail in the hype times and will help sellers when the "buy anything" frenzy subsides or during the plateau (before it goes back up again). Just my opinion---I'm no expert. Great topic for discussion and varied opinions.

 

[SHELLY]

If the phrase "Housing Bubble" makes you cringe and your stomach turns, your portfolio is overweight in real estate and you seriously need to think about unloading some of it. If, on the other hand, the phrase makes you think, "so what," you're going to do just fine when (not if) prices level and recede.

 

[beachmouse]

Interesting blog if you're into the housing bubble debate:

http://thehousingbubble2.blogspot.com/

 

[Buckhead Rick]

Please excuse this question but some of the "locals" will have a better feel then I..Eagles Cove development off E. Hewett and the bay fell through for the time being because the zoning got "tighter". The rules of the past are not being allowed now. Does this signal newer projects will have a harder time coming on line?

 

[RiverOtter]

Please excuse this question but some of the "locals" will have a better feel then I..Eagles Cove development off E. Hewett and the bay fell through for the time being because the zoning got "tighter". The rules of the past are not being allowed now. Does this signal newer projects will have a harder time coming on line?

Eagle Cove or Eagle Bay??