Get the popcorn out Joe.
Tyler, There's no intent to attack anyone as you are doing. First point was that using list prices is not the indicia that value is based on. Do you disagree with that point?
The article that Shelly linked was interesting and certainly a consideration but it relates to the overall market in the US and one investor moving his holdings to casinos which are still real estate holdings. I never said that the market is booming in the US and wouldn't because frankly I don't know that much about every market in the US.
A quick search on the same magazine produced other articles related specifically to the Florida market and more specifically the Florida Panhandle.
http://money.cnn.com/magazines/fortune/fortune_archive/2005/10/17/8358067/index.htm
All realtors are worried and sales have fallen dramatically. I know and am close friends with several reputable realtors who have seen their commissions plummet - decline by triple digits over the same time last year.
No Tyler, you don't know. Not all realtors are worried. Being reputable doesn't equate to success in today's world. Many reputable realtors believe that they can be sucessful using yesterday's approaches. The fact is that the internet has forever changed their profession beyond their ability to comprehend. The last couple of years when they were making triple digits, customers were basically flopping into their laps. Now they have to work harder. The average realtor's lack of technological acumen severely impacts their ability to be successful today. While 86% of realtors have websites, only 12% of them get 25% or more of their business from it. The average realtor is at the mercy of a bevy of webmasters, software distibutors, marketing services and even the search engines promising an effective internet presence and it's just not that easy. The cost of internet promotion will become cost prohibited for many realtors as the online competition gets stiffer and with the number of sales as low as they are, they are going to continue to have a very difficult time.
right now and at least several, several months and possible a few years to come, there's little money or return to be made here.
If you expect to make money in several months, that's why people are in trouble. If you read my post carefully, you will note that I sited the ability to be
flexible and
adapt to the environment as an important factor to success in investing. Regarding South Walton, I have maintained on many threads that many people can no longer afford 30A and despite many peoples' hope that it will become affordable again, I think those days are gone forever. When you say there's little money to be made "here", if you are speaking of the Beaches of South Walton, I would tend to agree with you. If you read my post in the manner in which it was intended, you will also note that I said that I'm looking towards
affordable housing on
longterm rentals - that's not 30A.
Today I was working with a client who purchased about 9 acres in Callaway slightly over a year ago for $495K which is surrounded by 5000 acres owned by JOE . There have been 11
sales in the last year along a 3-5 mile stretch that comp it out at about $1.1-$1.2 million. We're also looking into whether he'd be wiser to put in streets and parcel it out into the 15 units/acre allowed and sell them for $100K-200K each depending on the amenities he'd put in. That's $13 -27 million dollars less expenses on a $495K investment just about a year ago. Open minded and flexible people are making money in this market. They didn't get stars in their eyes about Watercolor or Alys beach. They make sound business decisions based on what they saw, not what they were told.
You can't spin the facts,
There are no spins here. Only people that have their minds made up. Maybe they own, maybe they don't even own here. You're assaulting me and telling me to forget what I see and trust someone that I don't even know, that apparently isn't making money (perhaps losing it), or possibly hasn't even invested in this market?
Tony Robbins, (a very positive person) and mentor to many successful people says that if you continue to do the same things you've been doing, expect to get the same results. And yes, Paula, isn't it great to feel good.