Seaside sales

[Coast is Clear]

We just had a beautiful week in Seaside and I was pleasantly surprised to hear that the market seemed to be picking up. I heard from very good source that a couple of contacts were pending, and then on nthe web site I saw there were three others that were listed as Contract Pending.

Anyone else hear anything?

 

[Smiling JOe]

in Seaside:
27 actively listed homes
5 pending with contingencies
4 pending (in addition to the 5 above)
2 sold in the last 6 months.

I would say that business is picking up and the numbers support that.

 

[Coast is Clear]

Thanks Joe. That was what it looked like but I have just gotten used to not believing any good news.:clap_1:

 

[Smiling JOe]

I know so many people who are waiting for the bottom to come along before they buy, but in reality, unless you are looking at daily numbers, you won't notice the trends which are being formed until well after the fact. There may be better buys in the future for some properties, but there are many subdivisions, such as Seaside, where the homes were not purchased so much for investments, but rather, lifestyle, so we never saw people buying in there for quick flips. If you see something that you like, and you can afford it, why not buy it? If you are looking for short term gains, you might try your daily search at bleedingproperties.com, upsidedownproperties.com, etc. (I made up those names, but you know what I mean.)

 

[Coast is Clear]

All true.

We as well bought there for long term investment and to really just to enjoy the area with family.

Did see on the RE page for Seaside there was a lot (#1) in the back that was just reduced from $985k down to $599k, and it looks like the main reason was that buildout deadline is August 08. With all the approvals currently required to be build that might be pushing it even now.

There are some other lots back there that will start runing into tight timing.

That is a pretty good drop all at once but not unwarranted.

 

[Smiling JOe]

add one more home in Seaside to the list of pending with contingecies as of today.

 

[hi n dry]

In our little village on 30A in Seagrove 3 properties have sold in the last few months. I haven't seen that happen for quite a while.

 

[SHELLY]

add one more home in Seaside to the list of pending with contingecies as of today.

Congrats SJ.

What kind of contingencies are they asking for these days?


.

 

[Smiling JOe]

Congrats SJ.

What kind of contingencies are they asking for these days?


.

Thanks, but it is not my sale. Contingencies haven't changed much. Marking it as contingent, rather than pending, in the MLS, just allows the seller to continue to expose the property to potential buyers, until the contingencies are removed. Some typical contingencies are financing, inspections, insurance maximums, and feasibilty studies, which might include survey, checking zoning, wetlands analysis, etc.

 

[Smiling JOe]

I see that that two houses, each priced at $3.5 million, went under contract yesterday. One is in WaterColor and the other in Seaside. The Seaside house is priced at $1,306 per sq ft, and the WC home priced at $686 per sq ft.