• Trouble logging in? Send us a message with your username and/or email address for help.
New posts

dunefrog

Beach Lover
Aug 9, 2008
56
28
I would be curious to see the percentage of recent sellers who leave the closing table with a check for proceeds equal to or exceeding their original investment. :dunno:

I wonder if the MLS provides that kind of data. Probably there. Maybe not easy to get out. But I would guess that most sellers are losing money in this market.
 

SHELLY

SoWal Insider
Jun 13, 2005
5,770
802
Right Shelly...Sowal is an over-built, socially-imbalanced, diminished place. Oh to have your foresight, wisdom, and...taste!

Over-built? I guess you mean that a place full of rare coastal dune lakes, pristine beaches, numerous state parks, and low-rise condos is over-built. Ah...I get it.

Imblanced wages/income? We all know how cheap properties are down in Boca Raton and West Palm (even post-crash). Two fer two, Shel.

Diminishing beach access? Oh sure, you must mean that prices actually go DOWN for property that IS PROTECTED from hordes of tourists leaving their trash all over the beach. Uh...huh.

Thanks for playing Shelly...really.

Swing-and-a-miss on all three points.

images








.
 
For two years I've been thinking that big brother JOE is going to create a new split. It'll be the pre-boom product and the post-boom product. Any company with as much product for sale as theirs has no choice but to.

I think this will lock in those who bought during the frenzy days for 2 to 3 times as long as would normally play out. Developed Counties will work through the inventory normally, but Walton County has JOE's nearly unlimited new product coming to market with no debt service attached. They can come in under the boom period product as far as the eye can see, thereby trapping those who think they'll hold till prices are restored.
 

snowman

Beach Lover
Apr 1, 2008
60
1
So, you don't think SoWal is overbuilt? Have you seen the amount of inventory sitting on the market?:dunno::dunno:

It will take years and years before the real estate inventory situation rights itself.

Sure its a beautiful place, but so are lots and lots and lots and lots, etc of other places with lots and lots and lots and lots, etc of second home inventory sitting on the market.

dunefrog does have a point. i have seen it myself. i've made good money off buying lots in areas that were overbuilt (this sometimes means just overdeveloped with lots, not just buildings) and he is right. the values do come back. some of these places only took about 50 years and they starting jumping up in price again.
 
Hats off to dune!

I knew Shelly couldn't resist with talking down to you about doom and gloom.

You are of course right, given time the economy of real estate returns to those that were not flippers or doom sayers. If you like the place stay invested, it will come back and banks will consolidate and some survive. We will talk about this time but the country will be ok. We need to wash out some of the problems.

Here's to you DuneFrog! I want to be around people like you!:D
 

dunefrog

Beach Lover
Aug 9, 2008
56
28
For two years I've been thinking that big brother JOE is going to create a new split. It'll be the pre-boom product and the post-boom product. Any company with as much product for sale as theirs has no choice but to.

I think this will lock in those who bought during the frenzy days for 2 to 3 times as long as would normally play out. Developed Counties will work through the inventory normally, but Walton County has JOE's nearly unlimited new product coming to market with no debt service attached. They can come in under the boom period product as far as the eye can see, thereby trapping those who think they'll hold till prices are restored.

Beachfront/Gulfview properties are not "unlimited" of course. These properties are rare. So I don't think what you say applies to them.
 

snowman

Beach Lover
Apr 1, 2008
60
1
That LIBOR spread is way out of whack. But the financial disarray, though real, will right itself within a few years. The world economy will deleverage and growth will slow a bit. The big risk takers will have their assets redistributed. They will have to work harder to make that up. But no depression. No apocalypse.

Man, I feel so much better now. Where are you getting this information? Or is this just a hunch you have? I guess the info. I've been hearing from oldtimers that have been around the block a few times in the real estate industry must be off a bit. They say they've never seen anything even close to this before but they were born around the 1930's. This type of confidence does kind of remind me though of that quote from the Titantic, "Nothing could sink this ship. Not even god"
 

dunefrog

Beach Lover
Aug 9, 2008
56
28
Man, I feel so much better now. Where are you getting this information? Or is this just a hunch you have? I guess the info. I've been hearing from oldtimers that have been around the block a few times in the real estate industry must be off a bit. They say they've never seen anything even close to this before but they were born around the 1930's. This type of confidence does kind of remind me though of that quote from the Titantic, "Nothing could sink this ship. Not even god"

I thought you might enlighten us about Pizza and Burritos...apparently your favorite subject. But gosh the Titanic quote is so much...deeper.
 

snowman

Beach Lover
Apr 1, 2008
60
1
I thought you might enlighten us about Pizza and Burritos...apparently your favorite subject. But gosh the Titanic quote is so much...deeper.

Wow. Researching my past quotes... That's weird. But I'm just glad that you are here to enlighten us, O great one. Keep up the great investigations on the market.

PS. Let me know if you know any good burritos around here because I still can't find any besides my wife's.
 
New posts


Sign Up for SoWal Newsletter