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TooFarTampa

SoWal Insider
Question for all the realtors out there. I'm wondering how many of the current sellers fall into the following categories:

1) Must sell (either because they are purchasing something else or in real danger of foreclosure)

2) Want to sell because the market is no longer a good short-term or mid-term investment

3) Want to sell because they are tired of dealing with a second home or rental property

4) Are still "testing the waters" and looking to cash in on an investment of several years ago.

Where is all this supply coming from? Are there this many people in severe trouble? Are there still a lot of No. 4s out there, or far more No. 1s? I'm just curious as to why people who don't have to sell would even put their house on the market right now. I'd love to see what local realtors are hearing and seeing. Thanks.
 

SHELLY

SoWal Insider
Jun 13, 2005
5,775
802
I'm just curious as to why people who don't have to sell would even put their house on the market right now.

That's easy....they're trawling for "bigger fools" in what appears to be a fished-out market.

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flyforfun

Beach Fanatic
Oct 20, 2006
311
39
Birmingham, Al
Question for all the realtors out there. I'm wondering how many of the current sellers fall into the following categories:

1) Must sell (either because they are purchasing something else or in real danger of foreclosure)

2) Want to sell because the market is no longer a good short-term or mid-term investment

3) Want to sell because they are tired of dealing with a second home or rental property

4) Are still "testing the waters" and looking to cash in on an investment of several years ago.

Where is all this supply coming from? Are there this many people in severe trouble? Are there still a lot of No. 4s out there, or far more No. 1s? I'm just curious as to why people who don't have to sell would even put their house on the market right now. I'd love to see what local realtors are hearing and seeing. Thanks.

Tampa, there is a fifth catagory that you have not considered.....people selling to move up into more expensive property or to finance another project. With 1031 rules they way they are, and interest rates still being low, why would you not want move up? You see the greatest increase in value in the high end properties.
 

TooFarTampa

SoWal Insider
Tampa, there is a fifth catagory that you have not considered.....people selling to move up into more expensive property or to finance another project. With 1031 rules they way they are, and interest rates still being low, why would you not want move up? You see the greatest increase in value in the high end properties.

FFF, I guess those people would be included in No. 1. I did forget about the builders who have homes they have to get rid of. I would just love to know what percentage of sellers truly have an immediate need to sell.

FFF, I wouldn't want to move up because I'd be too stressed out about selling what I already own. Right now, at least. :D
 

flyforfun

Beach Fanatic
Oct 20, 2006
311
39
Birmingham, Al
That's easy....they're trawling for "bigger fools" in what appears to be a fished-out market.

quote]

Shelly, the only fool's I know are the folks who lack the courage to take advantage of the "deals" that are popping up all over the place! Two years from now a lot of people are going to be hitting their heads against the wall wondering what in the h*ll they were thinking when they sold that piece of real estate! There are plenty of buyers running around looking for "deals" cause they are getting ready for the next real estate boom that will begin shortly! Just look in Seagrove, where you see Mr. Harris buying up every beach front home he can get his hands on! He has been down there long enough to see the high's and low's, yet he is still buying property. If you want to be successful, you need to start doing what successful people do. Otherwise, you can keep you money in the bank making pennies, or stocks waiting for the next "cook the books corporate scandal or 9/11" to whip your earnings out, or you can pray that social security is going to be there for you when you retire. Personally, I am happy to be one of your so called fools. I rather have a piece of sand any day that I can sit out on an watch sunsets, smell the salt air, and watch porpoises play than sitting with a bank CD trying to figure out when I can retire on the penny's its earned. You need to remember one important fact Shelly....God, is not making any more white beaches, especially ones with high elevations! More and more people are discovering this unique piece of paradise, and you can bet there will be lots of people, paying even bigger bucks to own a piece of it....that is the history of this area....and it will continue!
 

flyforfun

Beach Fanatic
Oct 20, 2006
311
39
Birmingham, Al
FFF, I wouldn't want to move up because I'd be too stressed out about selling what I already own. Right now, at least. :D


Tampa, the more experienced developers down there are smart enough to not over extend themselves. Unfortunately, there is always a group for "power rangers" who come down looking for a quick buck, roll the dice and learn some hard lessons. Even in a down market, your property value will double in five years. History has demonstrated a few bumps in the road, but that there is plenty of gold is this white sand. All you have to do is hang around a couple of years and you will see what I mean.:roll:
 

fisher

Beach Fanatic
Sep 19, 2005
822
76
Tampa, the more experienced developers down there are smart enough to not over extend themselves. Unfortunately, there is always a group for "power rangers" who come down looking for a quick buck, roll the dice and learn some hard lessons. Even in a down market, your property value will double in five years. History has demonstrated a few bumps in the road, but that there is plenty of gold is this white sand. All you have to do is hang around a couple of years and you will see what I mean.:roll:

FFF--you must not be keeping up with the trends in the market over the last year or so. You really believe that people that bought in late 2005 are going to see their money double over a 5 year period. Some of them are down 50% or more right now. That means that over the next 4 years prices will need to increase by 300% from current levels for those folks to see their money double. What is the catalyst you see for turning things around so dramatically in the short term?

Also, just because Doodle is buying up property does not mean he will be successful in his investments. He seems to have been in trouble with the law in the past. Maybe he isn't so wise after all.
 

SHELLY

SoWal Insider
Jun 13, 2005
5,775
802
That's easy....they're trawling for "bigger fools" in what appears to be a fished-out market.

quote]

Shelly, the only fool's I know are the folks who lack the courage to take advantage of the "deals" that are popping up all over the place! Two years from now a lot of people are going to be hitting their heads against the wall wondering what in the h*ll they were thinking when they sold that piece of real estate! There are plenty of buyers running around looking for "deals" cause they are getting ready for the next real estate boom that will begin shortly! Just look in Seagrove, where you see Mr. Harris buying up every beach front home he can get his hands on! He has been down there long enough to see the high's and low's, yet he is still buying property. If you want to be successful, you need to start doing what successful people do. Otherwise, you can keep you money in the bank making pennies, or stocks waiting for the next "cook the books corporate scandal or 9/11" to whip your earnings out, or you can pray that social security is going to be there for you when you retire. Personally, I am happy to be one of your so called fools. I rather have a piece of sand any day that I can sit out on an watch sunsets, smell the salt air, and watch porpoises play than sitting with a bank CD trying to figure out when I can retire on the penny's its earned. You need to remember one important fact Shelly....God, is not making any more white beaches, especially ones with high elevations! More and more people are discovering this unique piece of paradise, and you can bet there will be lots of people, paying even bigger bucks to own a piece of it....that is the history of this area....and it will continue!

Let me guess....you write copy for Century 21. :D


For me personally, I wouldn't hold Doodle up as a measurement of my success...but to each his own.

I would like to know one thing though--you said, "the next real estate boom will begin shortly." Can you please expand on that for our viewing audience.?

And finally, about those white beaches that God ain't makin' no more...there's an old saying that goes "The Lord giveth and the Lord taketh away." A good thing to remember when you're penciling out carrying costs. ;-)
 
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flyforfun

Beach Fanatic
Oct 20, 2006
311
39
Birmingham, Al
Let me guess....you write copy for Century 21. :D


For me personally, I wouldn't hold Doodle up as a measurement of my success...but to each his own.

I would like to know one thing though--you said, "the next real estate boom will begin shortly." Can you please expand on that for our viewing audience.?

And finally, about those white beaches that God ain't makin' no more...there's an old saying that goes "The Lord giveth and the Lord taketh away." A good thing to remember when you're penciling out carrying costs. ;-)

No Shelly, I don't work for any RE agency, flunked out of literature in school, but have a long history of buying and selling real estate in Alabama and along the Gulf Coast. Folks like Mr. Harris make more money in week than you will make in a life time cause he is good at what he does. I have meet people like you who are scared of their own shadow, keep their money in a interest bank account, tell everyone how stupid they are for taking a risk with investing their money and then struggle to make a small pension last a couple of years when they retire. Fear mongers like you are always wrong, and seem to be perpetually jealous of the people who have the courage to take even a small risk. You want to know when the market is going to improve, just look at the history of the area if you want the answer. Look at what the good RE speculators and investors are doing. They are keeping their mouths shout and letting people like you scare new property owners into selling early and at a bargain. I have seen this cycle or game played many times, and the winners stick around.
 
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