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Watersound & Watercolor Sales

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Beachbummett said:
I know there have been some sales in Watersound recently. I was astounded at what a lot closed for in September (I believe) over by our house. It was not far off the '05 high water mark. :shock:
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The buyer of that lot had as much regard for the value of their dollar as the guy that bought the teardown in RM for $7.8 million.

Why would someone pay close to the 2005 high water mark when most lots are selling at 40% to 60% off 2005 highs in WS and WC unless they have absolutely no regard for the value of their dollars?? These folks simply aren't doing their homework. There are so many lots for sale in WS and WC you can absolutely get one you like for well off 2005 highs if you hire a good real estate agent and invest some time in looking around. I noticed that most of the high dollar sales are being made by the St. Joe sales folks. The buyers that use these agents aren't getting a good look at the market. The St. Joe agents focus primarily on St. Joe owned properties.

If SJ or Bobby had been their agents, I'll bet they wouldn't have paid anywhere near 2005 highs for a piece of property.
 
Beachbummett said:
Wow....still a big difference. Thanks for searching that.

Whenever we are in Watersound there are always a lot of people going through the open houses and in the sales office. I always wonder if they are just looking/curious or if they are actual buyers.
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Me just curious, my other half, looking at the architecture and checking up on some of his offices stuff. ;-)
 
fisher said:
The buyer of that lot had as much regard for the value of their dollar as the guy that bought the teardown in RM for $7.8 million.

Why would someone pay close to the 2005 high water mark when most lots are selling at 40% to 60% off 2005 highs in WS and WC unless they have absolutely no regard for the value of their dollars?? These folks simply aren't doing their homework. There are so many lots for sale in WS and WC you can absolutely get one you like for well off 2005 highs if you hire a good real estate agent and invest some time in looking around. I noticed that most of the high dollar sales are being made by the St. Joe sales folks. The buyers that use these agents aren't getting a good look at the market. The St. Joe agents focus primarily on St. Joe owned properties.

If SJ or Bobby had been their agents, I'll bet they wouldn't have paid anywhere near 2005 highs for a piece of property.
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I'm sorry, but DUH. :roll:
 
I just did a quick peek for the sales, and I may not be looking at the same data which they are, but I am looking at the ECAR MLS sold homes, and don't see 9 single family detached homes listed as sold, in the two communities of WaterSound and WaterColor. I see only seven for 2007, and that does "shatter" the 4 sales for Nov '06 and the four sales for Nov '05. I'm not seeing any sales for Nov '04, and am thinking something is a miss here. I know the areas for the ECAR maps changed around the beginning of '06, but am wondering why none show up for Nov '04. ???

Kitty and BeachBummet, anytime you want a real breakdown, let me know. I'll hook you up with the data. I love compiling data, and keep a running history. I have pushed the ECAR MLS to make stats available for the last ten years, and they tell me that Solid Earth, the software company with whom they contract services, should have stats available for the ten year history, sometime in the first half, hopefully first quarter, of 2008. Of course, stats are only as good as the people entering and analyzing the data.
 
house sales from watercolor to inlet beach along 30-a thru november were about 100 in 2006 and up to about 160 for 2007...lot sales went up from about 70 to 100...condo sales down from 120 or so to about 75...resales in joe props played a big part in the numbers for houses and lots
 
The stats are interesting. Looking at all single family homes sold in South Walton, including the area west of Sandestin to the Okaloosa County line, and including Pt Washington, here is a touch of data. (This data comes from ECAR MLS.)

Year.........tot sales (qty)............Avg Sales Price
2004...........1199.........................$689,498
2005...........918...........................$809,389
2006...........414...........................$935,761
2007...........451...........................$916,701

(Keep in mind the quantity of sales for 2007 do not include the sales during the month of Dec, where as the other years do.as of 12/20/07, there are 23 additional sales, that are not shown in the above data. )

Of the properties selling, it is obvious to see the sales prices are much higher than 2004 and 2005, and the quantity of sales, while down from those of 2004 and 2005, is up considerably from 2006.
 
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Smiling JOe said:
Kitty and BeachBummet, anytime you want a real breakdown, let me know. I'll hook you up with the data. I love compiling data, and keep a running history.
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No shot, Sherlick! :floor:

Someday I'd love to have a nice candlelit dinner with you over the plat books in the record room...sigh...:rolling:
 
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