Question for you property flippers....

[skier]

Rick,

Actually the tech stock and panhandle real estate markets are very similar in many respects. Both runups are/were caused by huge amounts of speculation accompanied by lots of questionable borrowing practices (margin accounts in the 90's and short term interest only loans). Speculation is what got us here and its what will cause the big dropoff. Way too much temporary money and speculative lending.

There are much smarter minds than mine or yours pointing to a bubble in specific markets around the country. But, you never know. Markets can be fickle. Time will tell.

 

[Smiling JOe]

Skier,
You seem to be very educated in economics, and I would like you to share
your thoughts regarding the ways in which this unique local RE market will be affected from all of the things you mention in relation to way in which the total RE market across the US will be affected? To a large extent, we have been discussing the total RE market of the USA. During the great economic downturn following Sept 11, 2001, I remember this market increasing rapidly, thereby leading me and many others to believe that this local market is in some ways protected from national trends.

 

[skier]

I know nothing about economics, finance, real estate, or tiddlywinks. So, here is my quote from the Alys Beach thread--

Oh well, I guess you guys have finally convinced me. Phillip must be right about the continued 20% growth per year (down from the 50% plus recently). So, that means I can double my money every 4 years. Cool. I just went out and borrowed all I could against my primary residence and my second home in Florida with an interest only loan based on LIBOR that will adjust every month. I'll come down tomorrow and buy a place in Seaside, Watercolor and Rosemary. I can't lose.

:clap_1: :shock:

 

[skier]

If only we were all so smart as we think we are (including myself), we would all be gazillionaires (my guess is none of us is). Been fun debating the real estate market. We all have our opinions. As with all markets/investments, you have bears and bulls. Someone will be right, someone will be wrong. Next time the tables will be turned.

I'm moving on to lighter topics. Let you know if someone pays "crazy" money for my house.

Hope everyone has a good summer.

 

[FoX]

If only we were all so smart as we think we are (including myself), we would all be gazillionaires (my guess is none of us is). Been fun debating the real estate market. We all have our opinions. As with all markets/investments, you have bears and bulls. Someone will be right, someone will be wrong. Next time the tables will be turned.

I'm moving on to lighter topics. Let you know if someone pays "crazy" money for my house.

Hope everyone has a good summer.

Seems to me you have great forum right here to sell your home to a bunch of optimists.

Why don't you post details and price? I might buy it before it loses 1/2 it's value.

 

[skier]

My house isn't a deal at a price of over $1100 per square foot (similar to what a house down the street sold for earlier this year). But, if it doesn't sell, we are very happy with our vacation home and I feel safe with my investment made at $450 per square foot.

BUT, if you want a real bargain, I just got the most recent price sheet from Arvida sales and there were 11 price reductions on the 60 plus properties listed by Arvida community sales. Things are getting downright cheap in Watercolor. There is a real bargain on a house built by Arvida in Phase III on lot 14 Cerulean Landing. The price dropped $400k from the list price last week. It was listed at $2.795 million its down to $2.395 million for 2500 square feet. Sounds like a steal at just under $1000 per square foot with only a half mile walk to the beach. It will probably be worth $4.8 million in 4 years according to several folks contention that prices will continue to rise 20% per year. Go for it! :clap_1:

 

[houdini]

Another interesting thread from the past with a few predicting the crash and everyone else piling on "insults" to the canaries in a coal mine.

 

[Dawn]

Another interesting thread from the past with a few predicting the crash and everyone else piling on "insults" to the canaries in a coal mine.

Some are canaries and some are buzzards. Millions were made between the time a couple of people around here started twittering and the time values started falling.