Calling The Bottom

[Bobby J]

And please post all your really good deals....

 

[Joe Mammy]

Are you aware that there are only approximately 20 short sales currently listed in areas 17 and 18 which includes most of 30-A? IMO spring season hasn't just "happened" it is happening!!

Actually, there are more like 45 short sales in 17 and 18. If you are just searching the "sales type" it is inaccurate, not all agents listing short sales check the right box there. You should search the "agent notes" for the term "short sale". You will have 50 returns. Then to be truly accurate you need to click on each one and check the notes because some agents put in their notes "this is not a short sale".

Remember, only 3 things can happen in a short sale:
1. It sells before foreclosure with the lender granting the short sale.
2. It sells at the county courthouse steps at the foreclosure public auction.
3. It is relisted by the lender as an REO usually at or just below market value post foreclosure.

 

[Joe Mammy]

And that 45 number is just detached single family homes. Add in another 16 condos, 9 townhomes and a whopping 87 residential land lots and you have 157 short sales in areas 17 and 18....

 

[30ashopper]

I'd just like to add, having been in a few "seller" vs. "doomer" discussions, I'm not interested in provoking that kind of discussion here. If I were a realtor, I wouldn't be running around telling everybody to buy next year. As a buyer, I would be telling any other buyer to get into the market and do their research. There are good deals out there on homes, lots, and condos if you know what to look for. So far though the areas I'm specifically interested in aren't showing any good deals.

I'm just here throwing out the data I see, that's all. Hope nobody takes my posts personally in any way.
:sick:

 

[pete23]

What area are you looking in?

 

[SHELLY]

Buyers are wasting their time low balling an already low ball short sale.

I agree--they should take the hurricane season off and start back up in the Fall.

.

 

[Bobby J]

I agree--they should take the hurricane season off and start back up in the Fall.

.

Then they would not be called buyers...

 

[30ashopper]

What area are you looking in?

Mostly planned communities along 30-A, plus some nice areas like Grayton Beach and Blue Water. There are so many it's hard to list, there are the major ones and then all of these little tiny communities angled off 30-A that are interesting.

If there are deals out there I'd love to hear about them. I do see a few REOs that I'd consdier priced right for the current market, but maybe not for next years. Depends on how things go I guess.

Overall I'm pretty pumped, I first started looking at buying another house in 2005. The prices were so out there though I couldn't justify it. In general I think once this finishes up the whole area will benefit. People who purchase and rent will have better margins, rents should be lower for vacationers, and real estate types will profit from higher sales volume. We just have to be patient.

 

[full time]

(1) A stock broker has considerably more asset classes to sell, so they have a better chance at being right...unlike a Realtor or an Insurance Salesman who have to push a single product line.

(2) No denying that there certainly are a considerable number weasels who carry Series 7 licenses

(3) Unlike Realtors or Insurance Salesmen you have legal recourse against a Series 7 holder who violates their fiduciary responsibilities.

(4) If you totally rely on any of these commissioned salesmen to be working purely in your financial interests--you're screwed.

.

Thank God for Series 7 licenses - I'm sure we'll have lots of successful litigants recouping yesterday's losses on Wall Street because Shelly tells us that it is a breach of duty for a broker not to to foreshadow a sudden decline in the value of your assets.

 

[Bob]

if there's a pattern of trading, it's "showtime"!