Bubble bursting???

[Philip_Atlanta]

What actually is the consequences for people holding vacant lots and who don't build a home in the time specified? Is the punishment tar and feathers or just a sharp smack on the snoot with a rolled up newspaper.

$$$ - fines from the developer/HOA.

 

[OnMackBayou]

For our brothers (and sisters) to the east:

Neighborhood Profile: 32413
Zip Code 32413

Year 2005 Median Loan Amount $213,960
Month May Median Loan to Sales Price Ratio 0.72%
Median Sale Price $298,350
Median Assessed Value $83,112
Median Square Feet 1308
Median Sale Price to Assessed Value Ratio 3.59%
Median Price Per Sq. Ft. $228 Median Number of Beds 3
Number of Sales 22
Median Price Per Bedroom $99,450
Last Recording Date N/A
Price Index 259.43
Change in Price from
Previous Month 40.51%

 

[skier]

I detect a paradox.

Par-a-dox
Pronunciation: 'par-&-"d?ks
Function: noun
1: a tenet contrary to received opinion. 2: a statement that is seemingly contradictory or opposed to common sense and yet is perhaps true.
(From Merriam-Webster)

Not sure how you defined paradox in relation to my statements. But, no doubt, they stand true for us. I don't think of my situation as a paradox as much as I do a no lose situation for me and my family.

A sale at a high price reaps a huge windfall--enough to finance lots of cool trips, part of retirement, etc. and allows us to rent a palace in SoWal anytime we like. If it doesn't sell at a high price, we are right back to where we started when we originally bought the house-- a really great home in a great location where I don't have to worry about making reservations, checking in, checking out, hauling bikes on the back of my car, packing clothes, etc. I can just pick up and go to the beach anytime I like.

No lose!! :clap_1:

 

[WaltonUndercurrent]

Comparing square footage costs is difficult. You almost have to look at streets rather than neighborhoods and certainly the entire area for comparisons. Someone may not be willing to pay 1200 a square foot for a house on Indian Woman while the cost may be a deal in Seaside or on the Gulf or Burnt Pine. While demand has been strong in South Walton, it's been even stronger than reported averages in some neighborhoods and communities. I think there are still too many broad generalizations being made about the market. Investers need to think narrower, not broader, and that requires some thought and research which may be a new concept to investors since location hasn't seemed to matter in the last few years.

 

[FoX]

Par-a-dox
Pronunciation: 'par-&-"d?ks
Function: noun
1: a tenet contrary to received opinion. 2: a statement that is seemingly contradictory or opposed to common sense and yet is perhaps true. 3: a situation in which a poster continually beats a dead horse, upon which he is riding.
(From Merriam-Webster)


I believe he was referring to the fact that your reasons for not selling are in part, precisely what many of us have tried to relay to you as the reason why things might be a little different here.

A house on the north side of Seaside priced at over $1,700/sf went under contract today. It did sit on the market for 65 days though.

 

[Smiling JOe]

What actually is the consequences for people holding vacant lots and who don't build a home in the time specified? Is the punishment tar and feathers or just a sharp smack on the snoot with a rolled up newspaper.

For some, the developer may get the lot back at cost to sell to someone else.

 

[skier]

Way cool--I'll take a 29% discount from the $1700 per square foot. Any takers?

 

[skier]

Boy--these real estate threads sure are a popular place to hang out these days. Who da thunk so many messages would be traded on one or two threads. This is fun stuff. Never really done much posting on the web. But, I'm having fun here. I like the banter. :clap_1:

 

[Cavallino]

--------------------------------------------------------------------------------

After hearing the results of the recent Aly's Beach sealed bid offering, I am not so sure the bubble is bursting. Here are the results of the Aly's Beach Offering from a reliable source...

Fact #1 - It was a sellout
All Lots were sold during the sealed bid process

Fat #2 - Premium
The Lots were sold at an average 4% premium over minimum bid price.

Since the minimum bids on these lots were priced at a highest level to begin with......it appears to me that this result is indeed evidence that the upward trend is continuing.

I hope this is helpful.

Doug

 

[Bob]

Boy--these real estate threads sure are a popular place to hang out these days. Who da thunk so many messages would be traded on one or two threads. This is fun stuff. Never really done much posting on the web. But, I'm having fun here. I like the banter. :clap_1:

Skier, Try "The World is Flat" byThomas l. Friedman. I think you might see how international buyers may just be the next wave. P.C. airport may be just the kickstart. In today's headlines, Chinese firm bids for UNOCAL oil. There's so much capital out there. Most foreign buyers bring cash!