Local real estate market begins recovery - article

Great article and it is true about rates are historically low and home prices are low. This is the time to buy. We should be seeing the market leveling out now and hopefully prices will start to get back to where they belong. :clap:

Danny Margagliano
www.SoldByDanny.com
850-830-4747

Local real estate market begins recovery | recovery, local, market - Business - Northwest Florida Daily News

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...so,--now let me get this straight--what you're really trying to say is...."Now is a great time to buy??"


(That one is for you Bobby J.)


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.Is it delurking day? :clap:
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A bigger picture.

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...so,--now let me get this straight--what you're really trying to say is...."Now is a great time to buy??"


(That one is for you Bobby J.)


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Thanks to you, I will never use that term... ;-) Should I call and warn Danny? He is a new agent and I promise he will be a good one. He is a real hard worker.

Btw, he is also one heck of a surfer.

Thanks to you, I will never use that term... ;-) Should I call and warn Danny? He is a new agent and I promise he will be a good one. He is a real hard worker.

Btw, he is also one heck of a surfer.

...just draw his attention to this full-page ad the NAR placed in newspapers across the nation in November 2006.

Newspaper Ad Says It's a Great Time to Buy

(In December 2008, the National Bureau of Economic Research declared the recession began in December 2007.....imagine that.)

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Then there was this:

The ambitious campaign aims to urge hesitant buyers to take action now, while interest rates are near record lows, inventory is supple, and prices have leveled off. Similar full-page ads will run in the same newspapers again on the weekend of Nov. 10-12.

In the days after the ad campaign launched on Friday, news articles about NAR's ?Buy Now? message appeared in dozens of well-respected newspapers, from the The New York Times to the The Sacramento Bee. Here's what some of them had to say:

?It may go down as the ?Got milk?? moment for the housing sector.? ? The New York Times, Nov. 3.

?Local REALTORS? at a media event yesterday said it's a lot better to be selling in today's ?normal? environment than in the five-year real estate boom when prices climbed 20 percent a year and multiple bids over listing price were offered on the first day.? ? The Baltimore Sun, Nov. 4

?The NAR ads say there are strong arguments for prospective buyers to jump into the market, with interest rates remaining relatively low and inventories of unsold homes still high.? ? Reuters News, Nov. 6.

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I'm glad you decided to throw that old, stale, misleading clich? in the dung heap where it belongs--that's one down, 1,088,918 to go.


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...so,--now let me get this straight--what you're really trying to say is...."Now is a great time to buy??"


(That one is for you Bobby J.)


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So, I didn't mean to use my words so loosely to start a battle or get anyone upset. So with that said. Thanks for the props, Bobby. Point taken Shelly. There are "some" good deals out there. In certain places for a certain type of buyer. Thanks for the input. I hope that is better stated.

Where do prices "belong" for Walton County?

"Lower", would be the most likely answer.

I think Danny deserves some sort of medal for being the one to draw Shelly out of lurking.

The world is a better place now that we have Shelly responding to one more hyped up message to calm the masses before they all run off a cliff.

Gawd I miss hearing from Shelly! :clap:

30a shopper not understanding the graph. is that saying that the avg price of a single family home in walton county topped out at about 590k in 2007 and is 510k now coming off a bottom of 460k or so? i thought the avg price in walton county dropped like 30% from the top?

30a shopper not understanding the graph. is that saying that the avg price of a single family home in walton county topped out at about 590k in 2007 and is 510k now coming off a bottom of 460k or so? i thought the avg price in walton county dropped like 30% from the top?

Yes those number are correct for non-inflation adjusted values.

Inflation adjusted the average price of a home sold in Walton fell 32%. That number has since rebounded by about 7% and is starting to fall off again.

Average sale price can fluctuate based on all sort of factors so it's a rough estimate. Individual properties can vary widly from this. But it does give a fairly good indication of the overall trend.

I think Danny deserves some sort of medal for being the one to draw Shelly out of lurking.

The world is a better place now that we have Shelly responding to one more hyped up message to calm the masses before they all run off a cliff.

Gawd I miss hearing from Shelly! :clap:

Actually, it was my wanting to acknowledge Bobby J's "Manifest Destiny" that drew me out....it was "Grasshopper's" (aka Danny) parroting of NAR's threadbare platitude that sparked an impetuous reply on my part.

(Note to Realtors Far and Wide: The NAR doesn't decree when it's a buyer's market--the buyers determine when it's a buyer's market.)

Shelly theres something that might suprsise you a bit. I was looking to buy a home in watercolor almost 2 years ago on western drive. it was listed at $675k for around 2100 square feet.even thought i bought elsewere i've followed all the comps closely. my curiosity got the best of me a few weeks ago when i started thinking i've seen almost no homes in watercolor for sale in those 2 years under 700k. 2 years ago i was certain that the square footage on home sales would drop to $200 or less in watercolor. i had my friend bring up the per square foot that the avg home has sold for in watercolor and rosemary and i was amazed that from 2008-2010 its not really dropped a ton and never got down to levels i thought it would. i believe its still over $300 a square foot in watercolor. were i ended up buying a short sale to this date 20 months later nobody has bought under what i paid. so some areas have held there values to a certain degree which suprsied me.

Shelly theres something that might suprsise you a bit.

Here's something that might surprise you a bit...I don't surprise easily; but I reckon the person who short-saled you their property does.

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Here's something that might surprise you a bit...I don't surprise easily; but I reckon the person who short-saled you their property does.

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I would love to fly back in town to meet you. I promise I would never disclose.... ;-) Just send me a pm.

Wait a sec. . .when did Shelly come out of retirement??

Wait a sec. . .when did Shelly come out of retirement??

...and nothing much has changed--but just in time to see JOE take a drubbing on today's "Fast Money (CNBC)" about this:

Value Investing Congress: Einhorn Skewers JOE; Florida Real Estate Boondoggle - Stocks To Watch Today - Barrons.com

David Einhorn's presentation on JOE was appropriately called "Field of Schemes: If You Build It, They Won't Come."


Still betting that CROX will eclipse JOE before long.
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