Good New for Real Estate

How many of those were shorts or foreclosures?

How many of those were shorts or foreclosures?

With 44 Lis Pendens filed last week at least we're keeping ahead of the pace.

52 properties, this week alone went contingent or pending.

It has been very busy even though last week was very odd!

How many of those were shorts or foreclosures?

I'm guessing 52.

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I'm guessing 52.

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Y'all need BR to start you a pick'em!

How were those sales divided up? How many in SoWal, South Walton, Walton County locations such as Sandestin, Miramar Beach, Top Sail, Seascape, WaterColor, Seaside, Rosemary Beach, Alys Beach, Seacrest, along 30A etc., versus over in the city of Destin in Okaloosa County? What is the zip code breakdown?

Now 60 properties in the last 7 days.
23 for Miramar Beach - only 3 of these were from Sandestin Resort
9 for area 17 (W 30a)
28 for area 18 (E 30a)

Out of 72 for the past 7 days.
42 are reo, short sales, etc...
30 are not.

I didn't include homesite sales in my number

Can anyone estimate based on last month figures what percentage of those that go pending actually go through? What's the failure rate basically?

Can anyone estimate based on last month figures what percentage of those that go pending actually go through? What's the failure rate basically?

where is this information hidden away? i.e., what homes/lots when contingent this week?

Out of 72 for the past 7 days.
42 are reo, short sales, etc...
30 are not.

How'd you do that?

How'd you do that?

All you need is MLS access. The "sales type" is your friend.

Incidentally, I've never been busier...

All you need is MLS access. The "sales type" is your friend.

Incidentally, I've never been busier...

Good news! Can you give us some details?

All you need is MLS access. The "sales type" is your friend.

Incidentally, I've never been busier...

Great News Joe! We have been swamped with showings and glad to report lots of offers. Some are working some are not but the bottom line is activity! We both know activity breeds activity! I have had a few deals where the seller has told the buyer to take a hike! Have not had that happen in awhile.

Great News Joe! We have been swamped with showings and glad to report lots of offers. Some are working some are not but the bottom line is activity! We both know activity breeds activity! I have had a few deals where the seller has told the buyer to take a hike! Have not had that happen in awhile.

I'm not a realtor so I don't have the access you guys have to the MLS. Do you know what the current inventory numbers are as expressed in "months of inventory"?

How'd you do that?

As a Realtor, one of our searches is called a "hotsheet". This will allow us to go back 7 days and the search can include all properties at once. If you want to go back more than 7 days then you have to seacrch each individual property category. It is a little time consuming but can be done, for a real Buyer (Ha).
However, if a home went pending 30 days ago and then sold 2 weeks later then it is going to show as a sold (status). So, our program that we use is a fluid program. It is very easy for a recent 7 days period but a little more difficult for more than that.

Maybe another Realtor can give me information that I am not aware of.

I'm not a realtor so I don't have the access you guys have to the MLS. Do you know what the current inventory numbers are as expressed in "months of inventory"?

Single Family Homes

Area 15- South Walton West
399 active
28 sold since 01/01/09

Area 17- West 30A
291 active
22 sold since 01/01/09

Area 18- East 30A
632 active
30 sold since 01/01/09

Condos:

Area 15
972 active
38 sold since 01/01/09

Area 17
156 active
9 sold since 01/01/09

Area 18
368 active
13 sold since 01/01/09

Single Family Homes

Area 15- South Walton West
399 active
28 sold since 01/01/09

Area 17- West 30A
291 active
22 sold since 01/01/09

Area 18- East 30A
632 active
30 sold since 01/01/09

Condos:

Area 15
972 active
38 sold since 01/01/09

Area 17
156 active
9 sold since 01/01/09

Area 18
368 active
13 sold since 01/01/09

How accurate is this? (margin of error)

In the Single Family Cat. 14 to 20 months of total inventory is not bad considering much is priced high. If there is a pickup in May and June the numbers could become under 12 months of inventory real easily. I know that as inventory decreases the rate of absorption increases dramaticly.

How accurate is this? (margin of error)

In the Single Family Cat. 14 to 20 months of total inventory is not bad considering much is priced high. If there is a pickup in May and June the numbers could become under 12 months of inventory real easily. I know that as inventory decreases the rate of absorption increases dramaticly.

How did you come up with the 14-20 month figure?

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How did you come up with the 14-20 month figure?

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Did I mention I only have a GED? I divided the number sold into the number listed. Thanks for bringing my attention to the fact that I attributed a variable of only one month to the time sample.

That seemed far to great of news.

Did I mention I only have a GED? I divided the number sold into the number listed. Thanks for bringing my attention to the fact that I attributed a variable of only one month to the time sample.

That seemed far to great of news.

...no sweat--I'm working on my Post-Doctorate in NAR-Math.

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there is about 4 years of inventory for single family houses in all of sw. I trust you both can convert that to months.

FAR only publishes numbers available to the general public for MSAs, no Walton numbers, but it seems like the markets on either side are startng to stabilize a little. Of course when you're talking real estate in Florida right now, the Panhandle can't help but look stable compared to a place like Ft, Myers (median single family price February 2008- $211,000; median single family sales price in F/09- $97,500 for a 54% decrease in average sales price)

Panama City MSA
Single family January 2008- $205,000
Single family January 2009- $163,300
percentage change -20

Condo january 2008- $275,000
Condo January 2009- $212,000
percentage change -23

Single family February 2008- $175,000
Single family February 2009- $185,000
percentage change -6

Condo February 2008- $255,000
Condo February 2009- $245,000
percentage change -4

Ft. Walton Beach MSA
Single family January 2008- $205,400
Single family January 2009- $188,300
percentage change -8

Condo january 2008- $375,000
Condo January 2009- $268,800
percentage change -28

Single family February 2008- $187,000
Single family February 2009-$197,000
percentage change -5

Condo February 2008- $335,000
Condo February 2009- $237,000
percentage change -29

the Panhandle can't help but look stable compared to a place like Ft, Myers (median single family price February 2008- $211,000; median single family sales price in F/09- $97,500 for a 54% decrease in average sales price)

Even though Ft Myers' sales prices were down by 54%, their sales were up 97% y-o-y, whereas Ft Walton Beach showed decreases in prices AND decreases in sales. One could say based on the statistics given, that Ft Myers has found its "pricing bottom" and Ft Walton Beach has not--making Ft Myers more "stable" than FWB. But it's all NAR-math. The Titanic found its bottom too.