Search results

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

    Nervous Property Owners

    I wonder how this turned out????
  2. M

    Seaside - new building on the square

    Interesting first reference to a bubble and flipping on this forum almost 4 years ago even though the poster was wrong regardgin the RE markte not being subject to a plunge like the 2000 stock market crash. Hindsight sure is 20/20.
  3. M

    Monthly Sales Numbers?

    I was wrong. Buying opportunities probably won't be best for another couple of years.
  4. M

    Nature Walk at Seagrove

    Haven't been here in a while. How's Nature Walk faring these days?
  5. M

    Calling The Bottom

    I haven't seen many oceanfront purchases lately. Where was your purchase, in Walton County? No matter--wherever it was, my take is you will never make a decent return on your investment. All oceanfront is still way, way overpriced. It too will be coming down. JMHO
  6. M

    Calling The Bottom

    Being busy doesn't mean that the bottom has arrived or that the market in general is good. Sales volume continues to trend down in Walton county and prices continue to slide. We are a long way from the bottom. Prices along 30A will continue to fall. Prices in the major developments...
  7. M

    17 Months on the Market - Sold!!!!

    Seems to make sense. In a market that is falling, if someone buys at current market, then as prices continue to fall, they will be underwater. Not to mention the fact that before a buyer can turn a profit, they need to get enough appreciation to cover the closing costs from the purchase plus...
  8. M

    WaterColor gulf front house

    You are kidding aren't you?? $4.9 million for 2500 square feet??:eek: Seller will be a very lucky duck if they get anywhere in the same zip code as $4.9 million from someone that isn't a very smart duck.
  9. M

    Faa Decision To Relocate Airport

    It will take a lot more than a new airport to turn this or any other resort market around. It will take low, low interest rates again, no hurricanes for years, and much lower prices on the lots and houses in the area. The second home marketplace got way ahead of itself from sea to shining sea...
  10. M

    June 2006 Real Estate Sales

    The numbers speak for themselves :eek: . In South Walton, inventories continue to be sky high (I guess St Joe easing build out deadlines didn't have the desired impact of reducing inventory :blink: ) . They can't go much higher--it seems 1 out of every 3 or 4 properties are already on the...
  11. M

    May Inventory and Sales breakdown

    Not sure which numbers you are talking about, but the number of actual sales in all categories east of Sandestin on your spreadsheets are down May 2004 versus May 2006 or May 2005 versus May 2006. Some of the sales figures are down by over 75% when comparing 04 to 06. If you are referring to...
  12. M

    May Inventory and Sales breakdown

    Da Bears and Da Bulls-- The numbers for May look just as bad as the numbers for all of 2006 and the latter part of 2005. It seems like there are more bears coming out of the woods on this forum lately and the bulls are starting to get very quiet. That's no surprise. Some people spotted the...
  13. M

    Monthly Sales Numbers?

    See edits above to correct the errors in my previous post.
  14. M

    Monthly Sales Numbers?

    Walton County sales numbers are in for March, but no one wants to post because they look so bad. Home sales down 50% in March and 47% year to date, avg price down 60% in March indicating that sales are in the tank and prices are indeed falling Lot sales down 45% in March and 41% year to...
  15. M

    Correction: Panhandle real estate sell off just starting

    You and SJ seem to be agents with lots of data at their fingertips. Can you post some sales data for November thru February that indicates a robust or even a stable market in the major developments along 30A versus using market wide averages or things occurring in Callaway, Freeport, Defuniak...
  16. M

    Correction: Panhandle real estate sell off just starting

    This market (along 30A--not necessarily Freeport, Defuniak and other parts of Walton County) is falling and falling fast. It has already hit the raw lot market where actual sales prices are at least 30 to 40% less than they were 18 to 24 months ago. Anyone that tries to dispute this fact in...
  17. M

    Just Got An Email From A Realtor

    Not sure if you bought during the height of the craze, but I would bet that people that bought a home at the height of the craze probably don't feel quite as cozy about their investment/home as you do. Prices have fallen a lot since the peak and many people are under water on paper.
  18. M

    Just Got An Email From A Realtor

    Look at the price per square foot and you will find that prices in PCB are actually a great deal compared to many other areas of the gulf and east coast.
  19. M

    Just Got An Email From A Realtor

    The unit listed on this thread may be a dump, but there are plenty of brand new units in this price range. Some of these gulf front units are priced at under $400 per square foot and they aren't moving. Check it out on the MLS by going to the property search area of this website.
  20. M

    Just Got An Email From A Realtor

    Do a quick search on the MLS for PCB condos and you will find several of gulf front units for sale for under $300k, and many more from $300k to $350k. Many of these are in brand new complexes yet to be completed. The original buyers are likely attempting to duck and run before they have to...
  21. M

    Just Got An Email From A Realtor

    I'm not sure about hundreds and hundreds at this point in time. But, there are numerous properties, primarily lots, that are now listed at below the sellers purchase price. Most are in the new communities that had relatively recent runups in prices like Watercolor and Watersound. My realtor...
  22. M

    Nature Walk at Seagrove

    It sounds like the developer is a good guy and is doing a lot to build a very nice and eco friendly development. Volunteering to put up lights at hwy 98 was also classy. But, if his houses are going to be listed at $1.5 million and up, he is going to have a very difficult time selling even...
  23. M

    St Joe's new development

    I have heard of both nightmares and good stories about the DRB process. But, I agree with FFN that the majority of stories are negative. There are several buildersand architects in WS and WC that are very frustrated with the process--its not just the owners. Given what I have heard, I would...
  24. M

    Property Auctions

    I saw the ad in the WSJ and went to the higginbotham website. There are quite a few properties listed along 30A. This is a sign of the absolute softness in the local RE market. If you hear about the results, please post.
  25. M

    Destin is "Up and Coming" and PC Airport

    Although I am still looking for the market to soften more before putting money into a property, I do hope that corcoran is correct for the sake of the real estate market (and the general economy) both locally and nationally. I have been hearing many of our local realtors in SoWal talking...
  26. M

    Real Estate Supply

    [/B] How in the world can you say those lots I pointed out were not sold at fair market value. Especially when other lots next door or very nearby sold at similar prices--I only noted the HIGHEST price paid for a lot in the general vicinity of the lots for sale. Do you believe that someone...
  27. M

    Real Estate Supply

    I agree with you that Joe is going to be coming up against some rough quarterly comps over the next several quarters. This might result is Joe lowering prices on lots just like other investors are doing right now in order to pump up revenues and profits. The penalties they will be charging...
  28. M

    Real Estate Supply

    Joe has been buying big ads in the Wall Street Journal, Womens mags, etc. for the first time in many years in an attempt to revive the market.
  29. M

    Real Estate Supply

    Many of these lots for sale at well below market highs have been on the market for quite some time and haven't moved. More are hitting the market every day. If people really want to buy, there are lots of properties out there to be had at prices way below market highs. In addition, many of the...
  30. M

    Real Estate Supply

    The math is very simple sixth grade algebra. An example of one of the lot comparisons above is as follows: X represents the market peak price paid for a lot in a specific area and 60% of X is the same as .6 times X. In the case of lot 18 in the Windrose Section of Watersound which sold...
  31. M

    Real Estate Supply

    Go take a look at the houses in Rosemary that I described. You will find a pretty good comparison. No way you can explain such a drastic difference in cost per square foot other than the market. the lot comparisons on the other hand cannot be argued, they are 100% apples to apples. You can...
  32. M

    Real Estate Supply

    FYI--Get a realtor and do some more research. The house that sold at 177 Rosemary is not a carriage house and it is not North of 30A. It is about 3 houses back from the ocean and has almost 3000 square feet. In terms of comparisons, you are right and you are wrong. While it is easy to...
  33. M

    Real Estate Supply

    Here are a few examples from one end of 30A to the other. Get a good realtor who will give you sales data as well as listing data and you can find a whole lot more where these came from. And, remember, these are asking prices. Some of these sellers will be getting desparate to unload...
  34. M

    Real Estate Supply

    The real estate supply continues to FAR outstrip demand and prices continue to fall because of this imbalance. If you look at sales data for the major developments along 30A (not for all of walton county) for the period August through November, you will find that sales of homes and lots are...
  35. M

    Interview w/ St. Joe CEO

    Regardless of what you think of Shelly (she is getting beat up by you people for simply having an opinion on the market--which is backed up be facts), it is not a good sign when all your insiders are selling rather than buying. It obviously means they feel the stock has peaked or nearly peaked...
  36. M

    Nov. Metro Market Trends #'s

    Merry Christmas and Happy New Year.
  37. M

    National Home Overvalue Rankings

    No Kidding!! The vast majority of the overvalued area are in coastal, second home markets because that's where all the speculation created unrealistic prices. No Midwest markets are on the list because there wasn't a speculative runup in prices over the last few years. The list makes perfect...
  38. M

    WSJ article (07 Dec 2005)

    No, I would not buy now. I predict prices will be 50% lower than the peak in 2004/early 2005 within the next two years. That will take price in the big developments back to $400 to $500 per square foot for near ocean properties. Oceanfront will fall even further due to the hurricane risk to...
  39. M

    WSJ article (07 Dec 2005)

    You forgot to mention the Watercolor lots that went up for auction last weekend. But, remember that these mega developments are what caused the huge runup in prices over the last few years. As prices fall in these communities, it will drag down the rest of market. And, as lot prices fall so...
  40. M

    Property Taxes = Florida's Downfall?

    The demand in Florida has dropped through the floor due to hurricanes, EXCESS SUPPLY, high taxes, high insurance and high prices. As a result, prices will plummet over the next few years. They have already started falling and the fall will continue. The condo and raw lot market will be...
  41. M

    Property Taxes = Florida's Downfall?

    The property taxes and insurance will not create a downfall in Florida. However, if prices had kept increasing as they were for the last couple of years, that would have been a problem. The prices were getting too high for most people to afford a home. However, there is a correction in...
  42. M

    WSJ article (07 Dec 2005)

    Agreed. I think a huge chunk of the buyers over the last 2 years have been investors. We have been looking to buy property in one of the upscale developments like Rosemary, Watersound or Watercolor (Alys is just too different, too white and too dense) but will not buy until prices fall...
  43. M

    Panhandle real estate boom just starting

    I believe a direct hit by a 4 or especially a 5 would devastate the area along 30A. Few of the dunes are high enough to withstand a 25 foot storm surge. We would have flooding inland in most areas for hundreds/thousands of feet, especially with all the dune lakes and the bay that would get us...
  44. M

    Last Days of Disco

    Wow, I agree. Lots of really angry people. And, lots of people that seem to have lots of time on their hands with thousands of posts to this site. Seems like people really get their dander up on many of these threads--especially the real estate threads. Maybe all you folks ought to calm...
  45. M

    It's A Small World...

    It's the way of the world. Different strokes for different folks. Some like it funky. Some like it homogenized. Some like there own little space and others like a larger community with lots of amenities close by. Neither is right or wrong, just different.
New posts


Sign Up for SoWal Newsletter