Slammed! Best market since 2005! (For sellers)

[Bobby J]

I am actually shocked at how busy the RE market is in SoWal. I am having my best year since 2005! Hard to say where this is all headed but for sellers it's looking up.

 

[Kurt]

Good for you Bobby!

 

[chanster]

In my neighborhood a few lot prices have tripled off the bottom and the house i bought in 2010 is up 80%. i'm getting postcard mailouts from agents begging for inventory. Pricing got crazy low 2 yrs ago and its coming back to the middle ground and hopefully rises 5-10% for the next 5-7 years to get back to 2006 highs

 

[Zebraspots]

Lots of sales and new construction.
Keep thinking a new bubble is being inflated, but cannot blame folks for wanting a piece of paradise.

 

[Mello Yolo]

In my neighborhood a few lot prices have tripled off the bottom and the house i bought in 2010 is up 80%.

OK. I've gotta ask--what is your neighborhood????

 

[pdabbs]

I'm a Georgia Realtor of 13 years looking to work for a Developer in the area ... Any suggestions ?
Wanting to move to the area soon

 

[Kurt]

New houses are popping up like mushrooms around here.

 

[Paula]

I'd like developers to finish some of the communities they started and tie up some of those lose ends (e.g., whatever used to be known as Prominence and the place that had the French name that never made it off the ground (just had some concrete pillars) in the Seacrest area. Hope there are plans to finish these soon. I think I read on this board that Prominence will be completed, but I'm not sure of that.

 

[tsutcli]

Prominence was bought by DR Horton. No activity yet except for a large rubbish container placed on-site. The other you mentioned was called Chateau Du Paris.

 

[spaglioni]

I don't think this will be like the late 1990's through the bust. We owned at Sea Bluffs in late 1999 before "my ships came in" namely, Adaigo and Bella Vita. Sold our place for a solid triple after all the owners were getting valuations monthly. I asked one simple question, "If our values are rising every month, why not the rental price?" Nobody bothered to answer that one, and as a financial advisor, decided to sell in 2004....took one day to sell and was sold for $50k more than appraisal.

That, my friends, is a bubble. Buying on spec before it is out of the ground and flipping it. Now, with cheap money from the Fed, people have figured out that they had better get their final resting place before rates move up. We got our slice of paradise last May and I can assure you that we will not flip and got it at such a price that we do not have to rent.

Love it here and maybe because of low interest rates, repaired balance sheets and being a bit older, buyers are realizing they better buy now and enjoy.