Real Estate Supply

[fisher]

Please check out the "sale lists" at
http://www.waltonpa.com/

According to this data there was only one closing in December 2006.
In December 2005 there were over 300 closings.

I assume the December 2006 data is not up to date-right?

In November 2005 there were over 400 sales.
In November 2006 there were 200 sales.

We are not making much progress absorbing the excess property inventory.

The data is wrong. Walton County consistently puts a handful of sales up on the site right after month end. Then, they come back mid to late month and put the real data up on the site.

 

[hi n dry]

The data is wrong. Walton County consistently puts a handful of sales up on the site right after month end. Then, they come back mid to late month and put the real data up on the site.

Thank you for your help.

Do you think the November 2006 data is accurate which shows about half as many sales as November 2005?

 

[fisher]

Thank you for your help.

Do you think the November 2006 data is accurate which shows about half as many sales as November 2005?

Absolutely--

 

[fisher]

Please check out the "sale lists" at
http://www.waltonpa.com/

According to this data there was only one closing in December 2006.
In December 2005 there were over 300 closings.

I assume the December 2006 data is not up to date-right?

In November 2005 there were over 400 sales.
In November 2006 there were 200 sales.

We are not making much progress absorbing the excess property inventory.

The data is now up and there were less than 150 sales recorded by Walton County in December 2006.

Some were interesting--

A 2700 square foot house with a 500 square foot carriage house in Rosemary south of 30A sold for $1.786 million.

A 2200 square foot house on Park Row in Watercolor that sold for $2.0 million in 2004 resold in December for $2.1 million.

A condo at Compass Point in Watersound sold for $1.055 million after selling in Sept 2005 for $993k.

 

[redfisher]

The Nov. #'s are in the 12/30 issue of the Sun...How do they compare?...Red

 

[fisher]

The Nov. #'s are in the 12/30 issue of the Sun...How do they compare?...Red

No the Real Trend report and the Walton County property appraisers site do not agree. The Real Trend report always seems to show more sales than the county site. However, both the RT report and the County website show similar trends in terms of % declines in unit sales.

Any of the real estate pros know why this difference occurs???

 

[fisher]

The data is now up and there were less than 150 sales recorded by Walton County in December 2006.

Some were interesting--

A 2700 square foot house with a 500 square foot carriage house in Rosemary south of 30A sold for $1.786 million.

A 2200 square foot house on Park Row in Watercolor that sold for $2.0 million in 2004 resold in December for $2.1 million.

A condo at Compass Point in Watersound sold for $1.055 million after selling in Sept 2005 for $993k.

Also, one lot in the Preserve went for $200k (last sale of this lot was at $475k ) and one went for $195k.

 

[Bob]

Also, one lot in the Preserve went for $200k (last sale of this lot was at $475k ) and one went for $195k.

Could build-out time influence price here??

 

[fisher]

Could build-out time influence price here??

Not sure, but my gut tells me no. I don't think there is a developer anywhere along 30A that is going to begin buying back lots that go beyond build out dates.

 

[hi n dry]

Could build-out time influence price here??

IMHO the association fees, taxes and build out time all affect the motivation of the seller. I would guess that all 3 could be a problem in Water Color.