Prices dropping in Watercolor

The reasoning is something like- people only look at homes in very specific price bands, and won't look higher or lower than that, even if what they want is available at a lower price point. Raise the price, and you get a different group of potential buyers who might go for the house even at the higher price because it now fits within the parameters they gave their agent.

Niceville/Bluewater is also seeing people floating a higher price for a few weeks to see if anyone bites, then usually dropping it by 10% if no one does. Though even with a 10% reduction, prices are still significantly higher than they were this time last year. The under $350K homes there still sell pretty quickly if they're move-in ready and priced right. The typical area buyers- military officers and GS-13s- can still afford those homes even if they can't get as much square footage as they used to. But the over $450K homes tend to sit on the market much longer.

The reasoning is something like- people only look at homes in very specific price bands, and won't look higher or lower than that, even if what they want is available at a lower price point. Raise the price, and you get a different group of potential buyers who might go for the house even at the higher price because it now fits within the parameters they gave their agent.

Niceville/Bluewater is also seeing people floating a higher price for a few weeks to see if anyone bites, then usually dropping it by 10% if no one does. Though even with a 10% reduction, prices are still significantly higher than they were this time last year. The under $350K homes there still sell pretty quickly if they're move-in ready and priced right. The typical area buyers- military officers and GS-13s- can still afford those homes even if they can't get as much square footage as they used to. But the over $450K homes tend to sit on the market much longer.

Just proving Americans are Sheeple 😀

WaterSound dropping too.

Sorry I should have specified "asking" prices. Actual sales prices will probably keep going up.

I have been watching a Bay front house in Niceville for several weeks / months now. The price was $990,000. Guess I shoulda made a bid cause after not selling for months the realtor raised the pirce to $1,250,000 :roll: . I don't get it :idontno:

This has been the norm over the last few years for folks who don't have to sell right away and are content to wait for top dollar. In order to do this you have to raise the price every 3-6 months or so, or your asking price will fall behind the market price. :wink:

pretty good intuition back in 2005. must have had a crystal ball.

earliest reference to a downturn in the market even though no one seemed to believe it at the time.

pretty good intuition back in 2005. must have had a crystal ball.

earliest reference to a downturn in the market even though no one seemed to believe it at the time.

SHELLY's BACK! :lol:

Shelly is gone, but his granite countertops are still for sale!

Shelly is gone, but his granite countertops are still for sale!

I thought he didn't have granite counter tops or stainless steel appliances? 😀

I thought he didn't have granite counter tops or stainless steel appliances? 😀

Irony is a good word ending in y.

Fictional characters can sometimes be useful tools for authors to work out some serious personal issues beyond simple buyers remorse.

And sometimes, it's just fun to pretend. Mix and match. :cool:

Almost 9 years later and prices still have not recovered to 2004 levels. Pretty good intuition back in 2005. 🙂

Almost 9 years later and prices still have not recovered to 2004 levels. Pretty good intuition back in 2005. 🙂

Hi Shelly.