State of SoWal Real Estate - Spring 2009

The bumb from spring selling season keeping everyone busy, albiet not as busy as you all were in 2005. ;-)

So ... give us a rundown! What is up?

What are they swamped with?

Buyers might be happy but sellers sure aren't. i still see 20-30% down in prices in places like watercolor.we're having a Bear mkt rally on wallstreet and the powers are tyring to convince people things will be better. all this coincides with the spring selling season which has increased real estate sales

What are they swamped with?

Buyers.

Buyers.

Great rundown.

Great rundown.

Not much more to say. I surely do not want to over analyze it with my infinite wisdom (that is a joke)! Just lots of buyers.

I just noticed no action in this normally busy section and was wondering what up.

Not much more to say. I surely do not want to over analyze it with my infinite wisdom (that is a joke)! Just lots of buyers.

I just noticed no action in this normally busy section and was wondering what up.

Maybe a bunch of people have realized that those who decided not to buy in SoWal in the past few years still lost half their money, and that losing money at the beach is more fun. Err, funn.

Maybe a bunch of people have realized that those who decided not to buy in SoWal in the past few years still lost half their money, and that losing money at the beach is more fun. Err, funn.

Maybe you are onto something here.

Hmmmm.... Not a post in this section since 4/11 yet most agents I talk to are swamped! What does this all mean?

Define "Swamped?" Is that the same as closing sales?

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Define "Swamped?" Is that the same as closing sales?

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no. even as a layperson, i've noticed there are DEF alot of shoppers..more specifically bargain hunters. people putting offer below listing on short sales- several at a time, but not BUYERS.
big diff. Realtors are working hard for the money now!

Realtors are working hard for the money now!

So "swamped" doesn't mean closing sales.

The "action" is then more akin to a crowd of drunks who show up everyday at a pub that has a "Free Beer Tomorrow" sign in the window. Lots of "traffic" but no sales.

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no. even as a layperson, i've noticed there are DEF alot of shoppers..more specifically bargain hunters. people putting offer below listing on short sales- several at a time, but not BUYERS.
big diff. Realtors are working hard for the money now!

We are definitely working hard for the money as always. The deals are so good that the buyers, are coming out of the woodwork. I can't speak for every agent but this year looks to be much better then last year for us. We are on track to have our biggest year since 2005. So swamped=buyers=contracts=closings.

So "swamped" doesn't mean closing sales.

The "action" is then more akin to a crowd of drunks who show up everyday at a pub that has a "Free Beer Tomorrow" sign in the window. Lots of "traffic" but no sales.

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ha! i think you pegged it!

ha! i think you pegged it!

Yeah. Nothing is selling. That's it. None at all.

Is Now the time to Buy !!

Is Now the time to Buy !!

Nope. That was yesterday. You missed it. Bummer for you.

This just in on Florida Trend:

? Gov. Crist Calls Florida Real Estate a Bargain [SP Times]
A prediction: You'll be kicking yourself in two or three years if you don't buy at today's prices. "When is the last time you recall Florida real estate being a bargain?" Crist said.

This just in on Florida Trend:

? Gov. Crist Calls Florida Real Estate a Bargain [SP Times]
A prediction: You'll be kicking yourself in two or three years if you don't buy at today's prices. "When is the last time you recall Florida real estate being a bargain?" Crist said.

Now that's just ridiculous, but oddly enough I still really like the guy.

Now that's just ridiculous, but oddly enough I still really like the guy.

It may seem ridiculous but as fast as some of these foreclosures get gobbled up someone is "buying " it. We will not be such a market forever. I also know that a builder can not build for some of these prices so when the property comes on line many people hop on these deals.

I think that the vacant land market is where it seems to be turning for deals. The housing good deals are almost too hard to get at and you will begin to see some more building activity on these vacant lots.

It may seem ridiculous but as fast as some of these foreclosures get gobbled up someone is "buying " it. We will not be such a market forever. I also know that a builder can not build for some of these prices so when the property comes on line many people hop on these deals.

I think that the vacant land market is where it seems to be turning for deals. The housing good deals are almost too hard to get at and you will begin to see some more building activity on these vacant lots.

Sounds like a good assessment for 30-A -- obviously a unique market that had its own special bubble and bust -- but my beef with Crist was that he was talking about the whole state. Florida is overwhelmed by huge numbers of unemployment claims, and wouldn't be able to pay them without stimulus money, so it is not a very good time to urge people to buy a typical home.

Just keep doing what you are doing Bobby J, and keep us posted!

We are definitely working hard for the money as always. The deals are so good that the buyers, are coming out of the woodwork. I can't speak for every agent but this year looks to be much better then last year for us. We are on track to have our biggest year since 2005. So swamped=buyers=contracts=closings.

How many closings did we have in March? I'd be interested in hearing some preliminary numbers on how this spring is going.

Good thread, Bobby J. Yes, it seems that every Realtor I know is busy, lately, with buyers. Shelly, March sales grew quite a bit over Feb in quantity of sales and total $ volume, as median prices decreased. I've been expecting volume to increase as prices decreased, and finally, we are seeing that come true. Feb rose over Jan, and March grew even more.

March sales for single family homes from Destin through 30A was the highest since 2005. April is already on pace to be the same way.

Is Now the time to Buy !!

...yes just as it was in 2004, 2005, 2006, 2007 and 2008...and you can buy those houses again now that they're in foreclosure.

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