Just In: Has South Walton Real Estate Bottomed Out?

[Kurt]

Has South Walton Real Estate Bottomed Out?

So the heat of the summer has left South Walton along with the people on vacation, but the home sales are still around, and looking very strong.

When we compare August home sales in South Walton dating back to the year 2000, we see that August 2011 is a banner month, the second best August on record, since ECAR (Emerald Coast Association of Realtors) has been keeping records. Read more »

 

[buster]

I guess folks who don't live in SoWal hear so much bad news they might have a hard time believing we are on the upswing already. I saw a sign today "now is the time to buy." May be true.

 

[scooterbug44]

Aren't half those sales short sales or foreclosures?

I'll wait to call "recovery" until people are selling for profit, not due to not being able to pay their mortgages.

 

[Rita]

The long list of homes I receive from realtor is foreclosures/shorts. Those are the ones they are pushing anyway, but it is good to see they are moving! As long as more don't keep coming on the market....

 

[salidaco]

http://www.nwfdailynews.com/news/estate-43874-real-market.html
http://www.sowal.com/bb/showthread.php/57899-foreclosure-update?p=751617
to scooterbugs post

 

[Em]

Scooterbug, if you are waiting until the properties bought during the market's peak, to sell at a profit, before you deem it a recovery, your idea of recovery may take a long time, and by that time, all the good deals will be dreams of the past. Your definition seems to think of "bottoming" and "recovering" as being very far apart, with "recovery" meaning selling for profit. That's fine, but each seller will have a unique definition of when that is, depending on what day they purchased.

For me, "recovery" of the market means getting sales (quantity) back up to reasonable levels, seeing the inventory levels back down to reasonable levels, seeing buyers and sellers coming together on price, and getting back to fundamentals of numbers working, eg- cash flowing properties.

Profits and losses are a different subject.

 

[scooterbug44]

To me recovery means people sell because they WANT to, not because they HAVE to.

When a significant number (or half) are foreclosures and short sales, I do not consider that a "recovered" market.

Just as I would not consider a mall where half the stores are closing or declaring bankruptcy to be a sign of a thriving economy.

 

[SHELLY]

I saw a sign today "now is the time to buy." May be true.

That sign has been there since 2005.

.

 

[MrMentalFitness]

That sign has been there since 2005.

.

LOL! Yeah, no kiddin'. All my Realtor friends have the line, "NOW is the time to buy" permanently tattooed on their forehead.

No matter when the time is, it's the best time ever

 

[SHELLY]

LOL! Yeah, no kiddin'. All my Realtor friends have the line, "NOW is the time to buy" permanently tattooed on their forehead.

No matter when the time is, it's the best time ever

That's the first phrase any commissioned salesman utters when it emerges from the womb...it's like asking a barber if you need a haircut.