Foreclosure Filings Nearly Double

[DuneAHH]

Bobby, I for one, appreciate your positive attitude & perception

 

[fisher]

Fisher,

I agree with you. This thread changed after I posted that the market was not as bad as the media portrays. Our office seems to stay quite busy and my team has been doing quite well. Buyers seem to find us. Maybe that has distorted my take on the market. I simply pointed out to my client his take on the market by doing a simple exercise of asking him how many units he thinks sold in a certain area. We both were pretty shocked. I then get attacked by the "doom and gloom" gallery.

I try to look at things in a positive way in everything I do. Personally, I am having real tough times holding what I own but I feel we are all going to be OK with whatever happens. I feel allot of folks on this board in the RE section are very bitter towards agents and I just try to keep a good word going. We need it. The media beats us up plenty.

I put together a contract the other day for a lady that broke down and starting crying once the contract was executed. She has wanted to live in SOWAL her entire life and is nearing retirement. During the big jump in value she felt she lost her chance to own in paradise. We sold her a home in Seabreeze. She got an amazing deal! I guess this could not have happened for her if the market was not in the tank.... It has been one of my favorite sales ever and has reminded me what this is really all about. She perceives this as a GREAT market and looks forward to making SOWAL her new home. Its all about perception....

You are doing your job and I imagine you are good at what you do. Just like any profession, medical, accounting, legal, real estate, etc, you will have some bad eggs out there that will try to distort the truth for personal gain. I don't believe you or any of the other realtors on this forum fit into that category. Your job is to sell property. Go get'em.

 

[scooterbug44]

YTD August Real Trend Report for Walton County--

Home sales down 14%, BUT average sales price UP 11%

Condo sales up 4%, AND avg sales price UP 39%

Lot sales down 50% and avg price down 13%

Volume was slowing through August, and I believe September will show a huge decrease across the board versus last year. However, it is encouraging to see that prices are actually up on average for homes and condos. Raw land continues to be a very tough sell.

This is just compared to the previous month?

Seems consistent with what I am hearing - the stuff moving seems to be the higher end properties that consistently hold their value due to location, not the homes whose value was overinflated by the "bubble".

IMO lot sales is a combination of an overdue price correction and a much needed reality check as to the true market worth of wetlands with no utilities, abandoned cars or appliances, and a meth lab down the street ;-).

If someone has the access to the info/free time I'd love to see a breakdown that includes the percentage of "sales" that are really pre-construction condo, foreclosures etc. as opposed to "real sales" (for lack of a better phrase). I know properties are still selling, but overall it seems that they are selling for far less than the owner would like and the data gets a little murky with the above mentioned items mixed in.

 

[Capricious]

"If someone has the access to the info/free time I'd love to see a breakdown that includes the percentage of "sales" that are really pre-construction condo, foreclosures etc. as opposed to "real sales" (for lack of a better phrase). "




Dig deep enough and you will eventually uncover
the septic tank

(just made that up- will have to write it down)

 

[fisher]

This is just compared to the previous month?

.

No, the real trend report numbers I quoted are August 2007 year to date figures compared to August 2006 year to date numbers. Shows how the market is doing compared to the prior year--not the prior month.

 

[scooterbug44]

No, the real trend report numbers I quoted are August 2007 year to date figures compared to August 2006 year to date numbers. Shows how the market is doing compared to the prior year--not the prior month.

Thanks for the clarification!

Are the increased condo sales/prices mainly a result of units being completed with pre-construction sale prices that were set in 2005 or 2006?

 

[fisher]

Thanks for the clarification!

Are the increased condo sales/prices mainly a result of units being completed with pre-construction sale prices that were set in 2005 or 2006?

That would be my guess, but that's all it is.

You would need to ask one of the realtors with better access to data to answer the question for you.

 

[Seagrove Lover]

Bobby J is a least real and knows most things turn around or have silver linings. The Bubble was real, but was not the end of the world for most. Just as the bubble developed, before 2004 things were relatively normal for growth. I expect after the crisis which was only for a few folks, the SOWAL area will be strong again with regular growth. Probably the beach in general will recover. Bobby J just talks sensibly and that is a breath of fresh air.

Others that are sensible probably just don't have much time or take much stock in an open forum with anyone wanting to pile-on; being able to.

Life goes on for most of us.

Just a few thoughts to those who know who you are!