30ashopper
SoWal Insider
Its a good thing because I am feeling a little low on good selling inventory.![]()
Convince some of your clients who are stuck in 2005 to lower their prices? There's plenty of inventory out there to work with.
Its a good thing because I am feeling a little low on good selling inventory.![]()
Excellent chart. Do you have a way to track the lis pen stock, or total inventory, which would be all of the properties for which a lis pen has been issued and there is no subsequent sales event or deed transfer? In my view the distressed inventory will peak ahead of a bottom in valuations.
Theres no question theres a huge back log of foreclosures coming as talking with many friends i've counted at least 10 people that stopped making there monthly payments 1-2 years ago and they're still living in there homes. as somebody said since the banks are not being forced to market to market loans they'd almost rather a deliquent borrorower stay put instead of foreclosing for several reason. first reason is not hit to the blance sheet till they sell the property at a lose. the second is with someone living there its being taken care of versus sitting there unoccupied.
Your use of Watercolor was very appropriate. It makes me wonder if I'm missing something since it is so desirable but I really don't get the draw. Maybe we should spend some time renting there to appreciate it. We hear it is wonderful and our friends love it.
How about homes and land in Watersound?
We really like the west end of 30-A and have spent most of our time looking there. A diamond in the rough is what we are thinking.
Theres no question theres a huge back log of foreclosures coming as talking with many friends i've counted at least 10 people that stopped making there monthly payments 1-2 years ago and they're still living in there homes. as somebody said since the banks are not being forced to market to market loans they'd almost rather a deliquent borrorower stay put instead of foreclosing for several reason. first reason is not hit to the blance sheet till they sell the property at a lose. the second is with someone living there its being taken care of versus sitting there unoccupied. but i still think 30-a is a little different than the rest of the nation. i'm just not seeing prices down that much on the 300k-800k homes in the past 10 months or so. maybe the top end has fallen more.whats been taking place the past 3 years is homes are moving from weak speculative hands to stronger hands who are less likely to default this with little building going on for 3 years now inventory will drop fast in the next 2 years and prices could start rising.
Convince some of your clients who are stuck in 2005 to lower their prices? There's plenty of inventory out there to work with.
What does BobbyJ think? Anyone who owns a lot might want to build on it with the idea of selling it.
The majority have and have sold.
You are correct if you want to pursue a short sale and wait 6-8 months to find out if you get to buy it.
Care to post some inventory vs. sales numbers to back that claim up?