Calling The Bottom

[Bobby J]

This is a very interesting market. As everyone beats it up, some very smart investors are sliding in here grabbing up some really good deals. The reality is there is really not much inventory priced to sell. So if someone wants a great deal it is really slim pickings. Of course, the buyer gets to decide what a good deal is.

 

[pk305]

Finally!

some very smart investors are sliding in here grabbing up some really good deals
Bobby J

I'll second that!

One of my properties is FINALLY under contract thanks to some very smart investors deciding it was time to start grabbing !!
This property has been on the market for more than 2 1/2 years.
Yes, I've lost $$ but have learned some valuable lessons that will be put to GOOD use! Just looking forward and not back!!

A friend of mine...after only 33 days on the market.....has his property under contract also! Fortunately, he stands to make some $$ on this one.

Both of these were priced to sell....and both "buyers" are very savvy, experienced Walton County real estate investors.

 

[Kurt]

Added to home page - http://SoWal.com

 

[Sandcastle]

There is a little more to the story on this lot(one day transaction). I just put another canal front lot under contract. Can not disclose price yet but the asking is $169,000 and we are close.

I hope the Property Appraiser places a lot of weight on these two transactions the next time he assesses my lot.

 

[Bobby J]

Me too!

 

[flyguy]

Right now folks are gobbling up the A plus properties!

BULL: As a very recent purchaser of ocean front property, I think Bobby's above quote rings true. There is a limited amount of really good property at reasonable prices.(credit to 30ashopper for pointing out that there is still a lot way overpriced) If you wait trying to get it a little cheaper you may wake up one day and all the really good stuff at a reasonable price is gone.

BEAR: As to real estate in general and all the high dollar developments that are "within walking distance to the beach". I don't think they have hit bottom yet, maybe not even near it. There is just too big of a supply of property in the A- to B+ range.

JMHO,
Flyguy

 

[monty]

BULL: As a very recent purchaser of ocean front property, I think Bobby's above quote rings true. There is a limited amount of really good property. If you wait trying to get it a little cheaper you may wake up one day and all the really good stuff is gone.

JMHO,
Flyguy

I haven't seen many oceanfront purchases lately. Where was your purchase, in Walton County?

No matter--wherever it was, my take is you will never make a decent return on your investment. All oceanfront is still way, way overpriced. It too will be coming down.

JMHO

 

[TooFarTampa]

I haven't seen many oceanfront purchases lately. Where was your purchase, in Walton County?

No matter--wherever it was, my take is you will never make a decent return on your investment. All oceanfront is still way, way overpriced. It too will be coming down.

JMHO

So you know nothing about his purchase, yet you make a blanket statement like that? Nice!

I remember flyguy's post and it seems to me he did very well for himself.

EDIT to say: I forgot I was in flyguy's original thread. Monty did you read the whole thread?

 

[Kurt]

I haven't seen many oceanfront purchases lately. Where was your purchase, in Walton County?

No matter--wherever it was, my take is you will never make a decent return on your investment. All oceanfront is still way, way overpriced. It too will be coming down.

JMHO

This statement makes no sense at all. How can you "have a take" when you know nothing about purchase price or any other detail? Even if its value is reduced to zero the assumption has to be made that it will one day be worth more than the purchase price unless you are predicting an apocalypse.

 

[30ashopper]

I think Bobby's above quote rings true. There is a limited amount of really good property.

One correction to that based on my observations - "There is a limited amount of really good property.. at reasonable prices." This will change over time. It's a great time to be a buyer in this area, there's no rush, there's no reason to feel as though you're being pressured into paying more than you feel something is worth. If you like a property but feel it is overpriced, another similar opportunity is available or will show up later. I think this will last for quite some time to come.