SoWal Condo Purchase - End of '07?

[LeBoeuf]

After vacationing in the Destin/SoWal area for the past 12 years, my wife and I are finally planning on purchasing a condo. At the moment, our target date is to purchase by the end of 2007.

I have already seen some of the properties I've had my eye on decrease in price over the last year. My current thinking is that prices will continue to decline through next year.

What is the general thinking of the market over the next year? How far down can it realistically go?

I know there are quite a few SoWal.com members that are "in the business". I'm really interested to get your view (and advise) on the subject.

Thanks in advance!

 

[Mango]

Leboef, there are quite a few threads already in the past in this forum on this topic if you go back and everyone has a different opinion.
Good luck on your purchase.

 

[SHELLY]

After vacationing in the Destin/SoWal area for the past 12 years, my wife and I are finally planning on purchasing a condo. At the moment, our target date is to purchase by the end of 2007.

I know there are quite a few SoWal.com members that are "in the business". I'm really interested to get your view (and advise) on the subject.

Thanks in advance!

It's OK to ask, but here's an old saying to keep in mind: "Don't ask the barber if you need a haircut."

 

[Mango]

It's OK to ask, but here's an old saying to keep in mind: "Don't ask the barber if you need a haircut."

Where do you come up with these sayings? ;-)

 

[30A Skunkape]

It's OK to ask, but here's an old saying to keep in mind: "Don't ask the barber if you need a haircut."

LeBoeuf, we are thinking the same thing. Keep your powder dry and keep the faith; Based on what we have read, late 2007 should be a buyer-friendly market. The local realtors will no doubt weigh-in on this issue for your benefit.

 

[dsilvar]

I know there are quite a few SoWal.com members that are "in the business". I'm really interested to get your view (and advise) on the subject.

Thanks in advance!

This is the wrong place to ask for "condo" advice. At best you will attain second class status by buying real estate west of 30A. On this forum SOWAL means anything on 30A, that makes you royalty and qualifies you for advice.
From another second class "sowal" owner..prices are as far down as they will get (mho)..they are stagnant now but I would'nt gaurantee anything past the first quarter of 2007.
Keep your powder dry and be prepared to pounce on anything outside the price box.
Good luck.

 

[Unplugged]

After vacationing in the Destin/SoWal area for the past 12 years, my wife and I are finally planning on purchasing a condo. At the moment, our target date is to purchase by the end of 2007.

I have already seen some of the properties I've had my eye on decrease in price over the last year. My current thinking is that prices will continue to decline through next year.

What is the general thinking of the market over the next year? How far down can it realistically go?

I know there are quite a few SoWal.com members that are "in the business". I'm really interested to get your view (and advise) on the subject.

Thanks in advance!

Being in the business, I agree that prices will continue to decline, but prime selection may decline over time from what it is right now.

This is the wrong place to ask for "condo" advice. At best you will attain second class status by buying real estate west of 30A. On this forum SOWAL means anything on 30A, that makes you royalty and qualifies you for advice.
From another second class "sowal" owner..prices are as far down as they will get (mho)..they are stagnant now but I would'nt gaurantee anything past the first quarter of 2007.
Keep your powder dry and be prepared to pounce on anything outside the price box.
Good luck.

Agree with you there dsilvar this can be so true at times! Anything west of 30-A receives less-than-favorable vibes here, unfortunately. There are many positives to the west of 30-A IMO.
___________________________________

 

[30A Skunkape]

This is the wrong place to ask for "condo" advice. At best you will attain second class status by buying real estate west of 30A. On this forum SOWAL means anything on 30A, that makes you royalty and qualifies you for advice.
From another second class "sowal" owner..prices are as far down as they will get (mho)..they are stagnant now but I would'nt gaurantee anything past the first quarter of 2007.
Keep your powder dry and be prepared to pounce on anything outside the price box.
Good luck.

Oh shoot! How did I miss the fact this guy was looking outside of 3OA?! Well, in that case, he might as well contact the feds and get that section 8 voucher and rent if he is interested in that area...I think they are worth over $900 nowadays;-)

 

[30gAy]

At best you will attain second class status by buying real estate west of 30A. On this forum SOWAL means anything on 30A, that makes you royalty and qualifies you for advice.

South Walton Establishes an Aristocracy

Members of the SoWal elite met over drinks at Bud n Alleys rooftop bar and decided to formalize what has been a de facto reality along the Emerald Coast for several years now. Certain residents, due to the divine right of real estate, have achieved a higher social standing than others.

Mimicking the famous quote by Louis XIV, Rosemary Beach resident Bob Hershburger exclaimed ?L?estate, c?est moi.??.and so it was, that henceforth all SoWal residents living along the 30-A corridor were officially elevated to the ranks of aristocracy.

Inspired both by the history of the Bourbons, and by a few glasses of Bourbon?..it was decided to establish the House of Wild Turkey to represent Dune Allen, The House of Beam for Blue Mountain and Grayton, while points east would collectively fall under the House of Knob Creek.

Messages were sent to the bourgeois Golf Communities off 30-A to inform them, for as every aristocrat knows- there?s not much point in being a noble unless there is someone pressing their nose up to the fence trying to get in.

?The Sandestinians were livid!, exclaimed the new Duchess of Seacrest, ?which of course is great because this would have been game over had they just laughed it off!?

Safe in the knowledge of their inherent superiority, the newly elevated nobles of south Walton returned to their beachside palaces; and noted, with satisfaction, that what they suspected was true- their septic systems really don?t stink.

 

[Mango]

South Walton Establishes an Aristocracy

Members of the SoWal elite met over drinks at Bud n Alleys rooftop bar and decided to formalize what has been a de facto reality along the Emerald Coast for several years now. Certain residents, due to the divine right of real estate, have achieved a higher social standing than others.

Mimicking the famous quote by Louis XIV, Rosemary Beach resident Bob Hershburger exclaimed ?L?estate, c?est moi.??.and so it was, that henceforth all SoWal residents living along the 30-A corridor were officially elevated to the ranks of aristocracy.

Inspired both by the history of the Bourbons, and by a few glasses of Bourbon?..it was decided to establish the House of Wild Turkey to represent Dune Allen, The House of Beam for Blue Mountain and Grayton, while points east would collectively fall under the House of Knob Creek.

Messages were sent to the bourgeois Golf Communities off 30-A to inform them, for as every aristocrat knows- there?s not much point in being a noble unless there is someone pressing their nose up to the fence trying to get in.

?The Sandestinians were livid!, exclaimed the new Duchess of Seacrest, ?which of course is great because this would have been game over had they just laughed it off!?

Safe in the knowledge of their inherent superiority, the newly elevated nobles of south Walton returned to their beachside palaces; and noted, with satisfaction, that what they suspected was true- their septic systems really don?t stink.

OMG. :rofl: :funn: