September Real Trend Report

[Sally]

Just looking at the line graph it looks like we're still in the old pattern of more activity in the Summer, just like rentals.

 

[Pirate]

The real story there is in the dollar values. Also, the party responsible for tracking the foreclosures isn't looking very hard. I wonder how accurate this really is? Thanks for posting Sally.

 

[fisher]

Just looking at the line graph it looks like we're still in the old pattern of more activity in the Summer, just like rentals.

Anyone know why sales of vacant lots was so much higher in Sept. 2007 than Sept. 2006? The average price was down from about $130k to under $80k. Was there a large sale of cheaper lots in North Walton?

 

[fisher]

Just looking at the line graph it looks like we're still in the old pattern of more activity in the Summer, just like rentals.

More real trend stats-

Compared to the September 2004 real trend report--

2007 SFH sales-106 units at an average price around $500k
2004 SFH sales-258 units at an average price around $500k

SFH unit sales down almost 60% and Avg. SFH home prices flat versus 2004

______________________________________________________________
2007 Condo sales-42 units at an average price around $500k
2004 Condo sales-160 units at an average price around $600k

Condo unit sales down almost 60% and avg price down over 15% vs 2004____________________________________________________________

2007 lot sales-235 units at an average price around $75k
2004 lot sales-614 units at an average price around $180k

Lot unit sales down about 60% and price down by almost 60% vs 2004

 

[Busta Hustle]

fisher...hammock bay windswept and Plantations at Freeport are all listing lots from about 65k and up...some builders are buying a few from that price to 75K or so...i'm surprised at the low number of sales at those prices...

 

[jlweathers]

The real story there is in the dollar values. Also, the party responsible for tracking the foreclosures isn't looking very hard. I wonder how accurate this really is? Thanks for posting Sally.

foreclosures take a long time to filter through the system. you also have a deed in lieu of foreclosure as a possibility

 

[Little Fish]

This morning I noticed an interesting article on the News Herald website regarding construction and real estate trends in Panama City Beach. Apparently, the article is one of a three-part series on the real estate market in PCB. Thought some of you might find this interesting. I've posted the link below:

http://newsherald.com/headlines/article.display.php?a=4021

I've highlighted one of the quotes that seems to indicate some time before the real estate market in PCB recovers...

"Before real estate market values can appreciate again, the glut of both condo units and single-family homes will have to be absorbed, Realtors admit. That could take between four and six years for the resort condo market, several recent studies predicted."

There's that word "glut" again...

Little Fish

 

[SHELLY]

This morning I noticed an interesting article on the News Herald website regarding construction and real estate trends in Panama City Beach. Apparently, the article is one of a three-part series on the real estate market in PCB. Thought some of you might find this interesting. I've posted the link below:

http://newsherald.com/headlines/article.display.php?a=4021

Interesting point about St JOE continuing development of Breakfast Point--will have to wait for their conference call in a couple of weeks to see where that is going under their recent program to "accelerate value creation."

As an interesting aside, Beazer was tapped to build homes at Breakfast Point. (Google: Beazer+fraud+lending+FBI+restate+earnings)


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