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Franny

Beach Fanatic
Mar 27, 2005
4,048
410
Pt. Washington
I'm not sure what you guys have been arguing about over the last few days but I have a few things to say, As for as Skier the last thing the real estate market needs is negativity. You and other skepics scare the hell out of people wishing to invest. Point one the problem with our market today is we have investors (once buiders) flippin land. I, for one have strongly encouraged to BUILD on the lots they have purchased rather than resale. There has been a lot of "talk' in the last few days about Realtors decreasing the prices of real estate for the sake of a "good buy". We don't decrease the price with out the owners permission..so give me a break...By the way I have a lot of happy buyers and sellers!!!!!
 

Franny

Beach Fanatic
Mar 27, 2005
4,048
410
Pt. Washington
SHELLY said:
Realtors raise prices so they can then drop them at advertise the property as "Price Reduced!" I'm seeing lots more of that lately. :rotfl:
Let me just note that Realtors don't determine the prices..the seller does this remarkable work
 

SHELLY

SoWal Insider
Jun 13, 2005
5,775
802
Bob wrote: >I think you might see how international buyers may just be the next wave. In today's headlines, Chinese firm bids for UNOCAL oil. There's so much capital out there. Most foreign buyers bring cash!<

The European economy is in the ditch, the Austrialian economy is in the ditch, the American economy is heading for the ditch---that essentially leaves the Chinese to buy up the Panhandle properties. Just means we're going to have to get a helluvalot more American All-You-Can-Eat Buffets in the area--problem is, with the housing prices promising double digit increases every quarter, where are the $6.15 per hour workers going to live? :dunno:

Just another "conundrum" to figure out.
 

Franny

Beach Fanatic
Mar 27, 2005
4,048
410
Pt. Washington
Smiling JOe said:
For some, the developer may get the lot back at cost to sell to someone else.
Hi Joe,
yes in our experience in Watercolor if you dd not build wthin a specifid time we were fined Actualy that happened months ago. However we have seen where other lot owners or Arvida lot owners are not fined . Anyway da da da we are happy building..hope to see you soon
 

alongfortheride

Beach Comber
Jun 14, 2005
41
8
Franny said:
I'm not sure what you guys have been arguing about over the last few days but I have a few things to say, As for as Skier the last thing the real estate market needs is negativity. You and other skepics scare the hell out of people wishing to invest. Point one the problem with our market today is we have investors (once buiders) flippin land. I, for one have strongly encouraged to BUILD on the lots they have purchased rather than resale. There has been a lot of "talk' in the last few days about Realtors decreasing the prices of real estate for the sake of a "good buy". We don't decrease the price with out the owners permission..so give me a break...By the way I have a lot of happy buyers and sellers!!!!!

What do have to say about the realtors speculation? I hear that up to one third of the recent real estate purchases were made by realtors. Obviously, this was for speculative purposes. Many were investors that became realtors to save on transaction costs. Unfortunately, I think the realtors are part of the problem with the flattening or decreasing of the prices recently in a more fundamental way.
 

Smiling JOe

SoWal Expert
Nov 18, 2004
31,648
1,773
Here is a snapshot of statistical data from yesterday. Out of the 69 listings in this area that changed price yesterday, 64 of the listings dropped in price, while only 5 increased. These price changes are only a snapshot of one day, but the trend began over the last two weeks. As I stated before, I don't think this indicates anything more than people put such high prices on their property that it could not sell. How many times can you sell the same property for 100% returns? - A few, but it sure slows down after you get out of most people's price range. Someone else mentioned new things coming on line such as the PCB airport. This will definitely open the area up to new investors from outside the South East. Compared to other warm-climate, beautiful coastal areas around the world, SoWal is still a good buy.

Just my thoughts.
 

SoWalSally

Beach Fanatic
Feb 19, 2005
645
48
Good point about realtors holding stuff. They've been snapping up preconstruction like popcorn the last few years. I'm sure many have fat bank accounts but I'll bet many are overextended.

If general sales go flat then the realtors are not getting cash flow. My guess is that we'll see a lot of this stuff come on the market in a short period of time, which in itself is not that big a deal, but it might start other folks to worrying.
 

sunshine

Beach Lover
May 1, 2005
182
3
south walton
A house on the north side of Seaside priced at over $1,700/sf went under contract today. It did sit on the market for 65 days though. :D

I believe that the listing square footage was for the main house only - 1600 sq ft. If you look at the description there's a 650 sq ft guest house also. That brings the price per ft to a meager $1,222 (if the contract was for the list price of $2,750,000)
 

beachmouse

Beach Fanatic
Dec 5, 2004
3,505
741
Bluewater Bay, FL
Bob said:
Skier, Try "The World is Flat" byThomas l. Friedman. I think you might see how international buyers may just be the next wave. P.C. airport may be just the kickstart. In today's headlines, Chinese firm bids for UNOCAL oil. There's so much capital out there. Most foreign buyers bring cash!

The rumors I've heard are that they're already here, and snapping up a ton of businesses in Destin. Depending on who you talk to, it's the Russians and the Israelis, or maybe Jewish Russians. There's even a small Russian internet cafe and grocery in Destin in the Sunsations Plaza. (I keep meaning to go in there and see if they've got any good chocolate)

There's a sandwich shop by me that got bouught by a couple from the UK last year. It's my understanding that there's a big pool of Europeans who would love to own & run a small business in the Florida sun. Great climate, and fewer regulations & rules they have to deal with than in the EU. Normally they go for the bigger cities like Orlando/Tampa/Miami, but I think word is starting to get around about this area.
 
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