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Joe Mammy

Beach Lover
Mar 26, 2007
140
40
Is that because the short sales are being sold off; or are they dropping into REO; or are the number of non-short-sale active listing increasing?

Can you post the numbers you've used to calculate the ratio starting in Jan 2008? Thanx

.


Unfortunately, my short sale revelation which led me to tracking the numbers in only accurate for the last 3 months:

<table width="75%" border="1" cellpadding="5">
<tr>
<td><strong>Destin Single Family Homes</strong></td>
<td><strong>Total Active Listings</strong></td>
<td><strong>Disclosed Short Sales</strong></td>
<td><strong>%</strong></td>
</tr>
<tr>
<td><strong>April 8</strong></td>
<td>1048</td>
<td>74</td>
<td>.07</td>
</tr>
<tr>
<td><strong>May 13</strong></td>
<td>1065</td>
<td>73</td>
<td>.068</td>
</tr>
<tr>
<td><strong>June 4</strong></td>
<td>1047</td>
<td>70</td>
<td>.067</td>
</tr>


</table>
 

Joe Mammy

Beach Lover
Mar 26, 2007
140
40
hmmm, I thought you could post HTML here. Try one more time:

<table width="75%" border="1" cellpadding="5">
<tr>
<td><strong>Destin Single Family Homes</strong></td>
<td><strong>Total Active Listings</strong></td>
<td><strong>Disclosed Short Sales</strong></td>
<td><strong>%</strong></td>
</tr>
<tr>
<td><strong>April 8</strong></td>
<td>1048</td>
<td>74</td>
<td>.07</td>
</tr>
<tr>
<td><strong>May 13</strong></td>
<td>1065</td>
<td>73</td>
<td>.068</td>
</tr>
<tr>
<td><strong>June 4</strong></td>
<td>1047</td>
<td>70</td>
<td>.067</td>
</tr>


</table>
 

Beachcoma

Beach Comber
Oct 30, 2007
27
7
Thanks for these details JoeMammy "Actually, almost all of the condo association fees include exterior insurance which is the biggest nut. Many also include water, sewage, trash pickup and basic cable".

What I fail to understand though, is why costs for these "services" seem to increase with the value of the property - or am I missing something? I would think that trash collection, water, cable etc. would cost about the same regardless as to whether or not the property costs $300m or $700m (allowing for occupancy differences in some cases). Obviously, one would expect insurance to increase proportionately.

I may be wrong, and I don't have an axe to grind, but I have a feeling that some "management companies" took "liberties" with charges during the boom times and haven't yet woken up to the real world.:dunno:
 

Joe Mammy

Beach Lover
Mar 26, 2007
140
40
Active listings decreased as they either went under contract or expired. We are currently at .067 short sale listings.

Our office did over $8M last month in closings- our best month in quite some time :clap:. We only have 8 full-time agents. We are all doing the hustle.
 

fisher

Beach Fanatic
Sep 19, 2005
822
76
Active listings decreased as they either went under contract or expired. We are currently at .067 short sale listings.

Our office did over $8M last month in closings- our best month in quite some time :clap:. We only have 8 full-time agents. We are all doing the hustle.

It's great to hear that activity has picked up--hard working realtors need to make a living and it's nice that the commissions are coming in again. However, an increase in closings does not signal the bottom has arrived. Sale prices continue to fall up and down 30A on homes, lots and condos and I agree with 30Ashopper that the bottom on prices is still a ways down the road.
 

Bobby J

Beach Fanatic
Apr 18, 2005
4,043
599
Blue Mountain beach
www.lifeonshore.com
I think that many good deals are getting gobbled up and you will not see similar opportunities. I just closed on a home 3Br., 2bath, pool, gulf views, good rental numbers, etc. The home closed for $394,000. You can wait all you want but I do not see these deals popping back up. BTW, if you do see one please call because I have buyers for more deals like this. I think you may see some more great deals on vacant land but some of these home prices are getting too good for buyers to pass on. The bottom may be a ways away but I think we can now get a clearer picture in certain areas where the actually bottom is. Remember, the market is very local in nature and can change every few miles.
 

SHELLY

SoWal Insider
Jun 13, 2005
5,775
802
It's great to hear that activity has picked up--hard working realtors need to make a living and it's nice that the commissions are coming in again. However, an increase in closings does not signal the bottom has arrived. Sale prices continue to fall up and down 30A on homes, lots and condos and I agree with 30Ashopper that the bottom on prices is still a ways down the road.

Me thinks that there are still a bunch of hold-outs who are white-knuckling it through the summer, praying that the boomers will ride to the rescue this year. They'll hang in there through the summer vacation rentals and/or use it for one last summer fling with family and friends then eventually throw in the towel.

.
 

Bobby J

Beach Fanatic
Apr 18, 2005
4,043
599
Blue Mountain beach
www.lifeonshore.com
Me thinks that there are still a bunch of hold-outs who are white-knuckling it through the summer, praying that the boomers will ride to the rescue this year. They'll hang in there through the summer vacation rentals and/or use it for one last summer fling with family and friends then eventually throw in the towel.

.

Probably very true but me thinks these white-knuckles will get contracts if they price it right. The buyer never left this market. The perceived value did. As prices drop back down buyers are getting back on board. I have a sold and pending drawer to prove it.
 

Beachlover2

Beach Fanatic
Jun 17, 2005
813
55
SoWal
I may be wrong, and I don't have an axe to grind, but I have a feeling that some "management companies" took "liberties" with charges during the boom times and haven't yet woken up to the real world.:dunno:
[/QUOTE]

As someone who works for one of these management companies I can tell you it would be tough to take liberties - look at the budget - we get a flat fee for handling the management - unless the managers are getting a kickback from the suppliers (which I don't) - Before planning a budget for the year we call all the suppliers and try to get them locked in for the next year - including ourself. Insurance is one of those huge factors that is tough to read. One complex we manage insurance is half of the total association fees collected every month. Besides that they have to pay cable - pool service - trash collection - water and sewer - outside electric - landscaping etc. I believe if you are complaing about association fees - look at the insurance bills. I hear all the time we have to cut the quarterly association fees - how can you - the numbers are what they are - if you don't pay it monthly (or quarterly) you will end up paying it in special assessments.
 
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