State of SoWal Real Estate - Spring 2009

[Bobby J]

Now that's just ridiculous, but oddly enough I still really like the guy.

It may seem ridiculous but as fast as some of these foreclosures get gobbled up someone is "buying " it. We will not be such a market forever. I also know that a builder can not build for some of these prices so when the property comes on line many people hop on these deals.

I think that the vacant land market is where it seems to be turning for deals. The housing good deals are almost too hard to get at and you will begin to see some more building activity on these vacant lots.

 

[TooFarTampa]

It may seem ridiculous but as fast as some of these foreclosures get gobbled up someone is "buying " it. We will not be such a market forever. I also know that a builder can not build for some of these prices so when the property comes on line many people hop on these deals.

I think that the vacant land market is where it seems to be turning for deals. The housing good deals are almost too hard to get at and you will begin to see some more building activity on these vacant lots.

Sounds like a good assessment for 30-A -- obviously a unique market that had its own special bubble and bust -- but my beef with Crist was that he was talking about the whole state. Florida is overwhelmed by huge numbers of unemployment claims, and wouldn't be able to pay them without stimulus money, so it is not a very good time to urge people to buy a typical home.

Just keep doing what you are doing Bobby J, and keep us posted!

 

[30ashopper]

We are definitely working hard for the money as always. The deals are so good that the buyers, are coming out of the woodwork. I can't speak for every agent but this year looks to be much better then last year for us. We are on track to have our biggest year since 2005. So swamped=buyers=contracts=closings.

How many closings did we have in March? I'd be interested in hearing some preliminary numbers on how this spring is going.

 

[Smiling JOe]

Good thread, Bobby J. Yes, it seems that every Realtor I know is busy, lately, with buyers. Shelly, March sales grew quite a bit over Feb in quantity of sales and total $ volume, as median prices decreased. I've been expecting volume to increase as prices decreased, and finally, we are seeing that come true. Feb rose over Jan, and March grew even more.

 

[JoshMclean]

March sales for single family homes from Destin through 30A was the highest since 2005. April is already on pace to be the same way.

 

[SHELLY]

Is Now the time to Buy !!

...yes just as it was in 2004, 2005, 2006, 2007 and 2008...and you can buy those houses again now that they're in foreclosure.

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[SHELLY]

This just in on Florida Trend:

› Gov. Crist Calls Florida Real Estate a Bargain [SP Times]
A prediction: You'll be kicking yourself in two or three years if you don't buy at today's prices. "When is the last time you recall Florida real estate being a bargain?" Crist said.

What a tool!

Did Charlie Crist buy a Florida home yet? (Not counting the one his "wife" owns?)

Maybe Remax can get him to star in their lame commercial of kicking himself in the arse--problem is, he may knock a few of his teeth loose.


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[gmarc]

Shelley do you live or own a home on 30'a? You're very negative toward real estate on 30-a. If you don't own what would it take to get you to buy?

 

[GaDawg]

Nope. That was yesterday. You missed it. Bummer for you.

Since the prices have continued to drop, I am sure that my day will arrive sooner or later.

 

[Smiling JOe]

March sales for single family homes from Destin through 30A was the highest since 2005. April is already on pace to be the same way.

That is interesting. Will you please define that area, "from Destin through 30A?" When I run the numbers for Destin and all of South Walton, the reports are strong, but not as you claim. Maybe you include only areas south of 30A or something very unique.