Interesting Data about the Bubble on 30A

[30AOnline.com]

Statistically speaking, and I know I didn't post the data yet, sorry about that....got busy and I wanted to post a number of pieces of information that would give a real indication of the market. BUT, what I have looked shows that up until July we saw increases in the available inventory but in July a drastic decrease, down almost 50% from last July.

Foreclosures do take a long time to give an indication of the market. I personally don't watch them for that as much as just trying to find a deal. I'm sure I've missed some because I don't check them all the time. But, so far in the last couple of years of checking I haven't seen one in the 30A area actually go to auction. I can't say they never do but I'm sure it's rare. Their too desirable and have gone up too quickly in value. Around here you could have purchased a home and never made a single payment, by the time it could go to auction you could dump it for enough to pay off the note before the auction. Banks really don't want to take back home and if you just have a contract before the auction date they typically at least reschedule the auction to give it a chance to go through.

 

[skier]

Statistically speaking, and I know I didn't post the data yet, sorry about that....got busy and I wanted to post a number of pieces of information that would give a real indication of the market. BUT, what I have looked shows that up until July we saw increases in the available inventory but in July a drastic decrease, down almost 50% from last July.

Foreclosures do take a long time to give an indication of the market. I personally don't watch them for that as much as just trying to find a deal. I'm sure I've missed some because I don't check them all the time. But, so far in the last couple of years of checking I haven't seen one in the 30A area actually go to auction. I can't say they never do but I'm sure it's rare. Their too desirable and have gone up too quickly in value. Around here you could have purchased a home and never made a single payment, by the time it could go to auction you could dump it for enough to pay off the note before the auction. Banks really don't want to take back home and if you just have a contract before the auction date they typically at least reschedule the auction to give it a chance to go through.

30A--

Thanks for working on compiling the data. I was surprised to see that inventory was down versus last July in South Walton. The only data from last year that I have to go on is the lisitings of lots, condos and homes in Watersound and Watercolor. In July 2004, there were under 50 properties for sale in Watercolor, now I believe there are between 175 and 200. I believe the increase in Watersound is big, but not as large as the increase in Watercolor. I don't have lists from last year for Seaside, but I remember visiting the Seaside website from time to time and seeing less than 20 for sale last year and now there are close to 50. My visits to the Rosemary site over the last 12 months indicate a similar increase in inventory. So, I was very surprised to see that overall inventory is down 50% in whole of South Walton.

I look forward to seeing the raw data.

Thanks

 

[Kurt]

I too would be surprised at inventory being down over last year. Although, there were tons of new projects born last year - they were sold preconstruction and never hit the market. Might have been all the preconstruction resales.

 

[Beach Runner]

Why has no one built in Heritage Dunes on Eastern Lake Road? It seems that people are in such a frenzy to build everywhere else on 30-A, yet this area has not had one groundbreaking as of my last visit a few weeks ago. What's the scoop?