17 Months on the Market - Sold!!!!

[mf]

That seems to be the average buyers view point. What I see now is the bigger investors sneaking in here while the rest of the "herd" is running. They like the "herd" going the other way... Like Shelly says when everyone on this board agrees this market is flat it will then begin to come back. That is when the leaders of the "herd" begin to pull out. They once again will have made their money while we are all trying to figure out what the market is doing.....

even though we own a home here, i'm actually really happy about the downturn in the real estate market.

now hold on there! before you go after me with torches! the ridiculous increases in home values have provided incentives for irresponsible developers to build house after house and mall after mall.

well, guess what? a bunch of million dollar houses does not a community make. neither does shopping and it does NOT increase the value of my home.

maybe this downturn will act as a deterrent to developers who frankly just want to make a quick buck and get out and aren't at all interested in the long term impact on the community. most places here are classified as urban density, and yet there's none of the benefits of an urban environment. we're in a place where we really don't need one more subdivision marketed as a "village", but to focus on community building that goes beyond these mini-fifedoms.

actually, as a homeowner here, it's in my best interest to see that there's the infrastructure, public spaces, services, health care and the multitude of other things that make my house and community valuable.

in the long run, the creation of these things is what will make life easier for local realtors and sustain them with a market that has good potential for turnover and sales.

the developers will hate it, but they'll be long gone anyway.

 

[GoodWitch58]

as a native, a homeowner and a Realtor, I agree. I only wish we had a local government that would actually enforce the Growth Management laws, and understand and utilize visioning as a tool for building a community...including infrastructure, et. al.

We are very close to destroying the very things that have made this area so magical, and once that is done, we all suffer.

 

[pk305]

They once again will have made their money while we are all trying to figure out what the market is doing.....[/quote]


True true!! That's why some of them are making some significant investments along 30A! I am gasping when I see the $$$$'s some have recently paid....specifically Rosemary Beach & Watercolor....however, it's a FACT ;-) that these are very well to do folks who have made a LOT of money as visionaries, investors, and calculated risk takers. I say bully for them!!
Frankly, it's encouraging to see their bold moves....and to know they believe so strongly in the 30-A real estate.

By the way, CONGRATULATIONS :clap_1: Tivoli, I am soooo happy for you!!
I had some good activity today on my property too.....it's encouraging!

 

[Pirate]

Buy at the funeral sell at the wedding. It is possible now to buy at close to break even cash flow.

 

[Bob]

I just talked to friends of ours who spent the entire weekend looking for property. They came down here to buy.

They were shocked by how much property is for sale.

They also heard from some contacts that there are some contractors, real estate companies, and developers ready to go under.

They feel the market has much farther to go before it hits bottom and are very reluctant to buy under these conditions.

Their impression is that buying now would be like trying to catch a falling dagger-you don?t know if you are going to grab the handle or the blade.

So they are afraid because it's a buyers market?

 

[SHELLY]

... Like Shelly says when everyone on this board agrees this market is flat it will then begin to come back. .....

There's still way too much optimism out there...even with Florida Association of Realtors 3rd Qtr numbers like these for SINGLE FAMILY HOME SALES and CONDO SALES

They still insist on spewing tripe like this:

Still, even if a sharp downturn in the housing market occurs as some analysts predict, Florida will be less affected by it than other states because of the insulating effect of its high population growth rate, said Dr. Wayne Archer, director of UF?s Center for Real Estate Studies. Despite some people?s worst fears, housing is unlikely to suffer the same fate as tech stocks at the beginning of the decade, he said. ?Unlike tech stocks, housing has a use, which means it can?t just evaporate,? he said.

----------------------------------------------


Shelly Sez...

But with tech stocks where you can only lose ALL of your investment...a bad investment in real estate will find you bringing a check to closing, AND/OR screwing up your credit score for a number of years.

 

[mf]

as a native, a homeowner and a Realtor, I agree. I only wish we had a local government that would actually enforce the Growth Management laws, and understand and utilize visioning as a tool for building a community...including infrastructure, et. al.

We are very close to destroying the very things that have made this area so magical, and once that is done, we all suffer.

amen.

 

[SHELLY]

They once again will have made their money while we are all trying to figure out what the market is doing.....[/quote]

True true!! That's why some of them are making some significant investments along 30A! I am gasping when I see the $$$$'s some have recently paid....specifically Rosemary Beach & Watercolor....however, it's a FACT ;-) that these are very well to do folks who have made a LOT of money as visionaries, investors, and calculated risk takers.

And maybe a few of them might be like this little Cabal of Theives down Tampa?


.

 

[Bobby J]

And maybe a few of them might be like this little Cabal of Theives down Tampa?


.

I have not seen that. I have seen solid deeeeeep pocket buyers that do not play games. They are not loyal to any agent and have a price they will pay or they move on.

 

[mf]

There's still way too much optimism out there...even with Florida Association of Realtors 3rd Qtr numbers like these for SINGLE FAMILY HOME SALES and CONDO SALES

They still insist on spewing tripe like this:

Still, even if a sharp downturn in the housing market occurs as some analysts predict, Florida will be less affected by it than other states because of the insulating effect of its high population growth rate, said Dr. Wayne Archer, director of UF?s Center for Real Estate Studies. Despite some people?s worst fears, housing is unlikely to suffer the same fate as tech stocks at the beginning of the decade, he said. ?Unlike tech stocks, housing has a use, which means it can?t just evaporate,? he said.

----------------------------------------------


Shelly Sez...

But with tech stocks where you can only lose ALL of your investment...a bad investment in real estate will find you bringing a check to closing, AND/OR screwing up your credit score for a number of years.

housing has not integrated as part of the economy here, so we don't have the same cushion as other markets..
it can only have a use if it allows people who live here to live here properly. that means wages and job creation on the same levels as house prices. i don't see that now and i don't see it happening.

we live off wages we make in sf and nyc. i can't imagine having to live off a salary here. this place hardly looks like a bargain even by nyc standards.there's a sense of "entitlement" in terms of goods and services pricing that doesn't help build the community.