Wake Up and Smell the Coffee

[Smiling JOe]

This morning, I notice that there is a new listing for a home in Old Florida Village, 208 Hidden Lake Dr, which is right next door to 200 Hidden Lake Dr, a home which fetched an auction price of $285,000 on Saturday. Price of new listing next door -- $469,000. The one sold at auction is a 4bd/3ba, 1847sf home. The new listing next door is a 3bd/2ba with 1350sf.

...and you wonder why homes aren't selling. Get rid of the inventory which is overpriced, and buyers can see what is really for sale, and we may actually begin to see some sales.

 

[2bohemians]

Just can't figure out why anyone would want to accept a listing that is overpriced -- it benefits no one. We are definitely on the same page with you SJ. Let's do some weeding out!

 

[Beaudroix]

SJ - I totally agree. The key price in Old Florida Lakes Subd is $299k or less to get any trafific looking...

 

[Capricious]

Better make that a Micky D's coffee and not a Starbucks.

 

[Smiling JOe]

SJ - I totally agree. The key price in Old Florida Lakes Subd is $299k or less to get any trafific looking...

In truth, the auction prices have those 10% buyer's premiums on top of the price, so that would put two of the "sold at auction" homes at about $315K and the other at about $330K. I think those prices are very exciting and would bring in many more than the three buyers the auction brought. The least expensive homes in SoWal were at $300,000 not too long ago.

 

[GoodWitch58]

Better make that a Micky D's coffee and not a Starbucks.

Make it a PJ's (in Blue Mt Beach)--support local!

 

[Smiling JOe]

Make it a PJ's (in Blue Mt Beach)--support local!

What makes you think that Starbucks isn't locally owned? The ones in our area are franchises and they are locally owned, as I understand it. ;-)

 

[John R]

What makes you think that Starbucks isn't locally owned? The ones in our area are franchises and they are locally owned, as I understand it. ;-)

i think the one in grayton is owned/managed by sandestin.

 

[Ohio Girl]

Asking prices at Old Florida now range from 435K to 649K. It would be great if the sellers dropped their prices but if they do, it will be very slow in coming.Wait until the auction deal is finalized and then see what happens.

 

[goin' coastal]

I agree some prices are outrageous. I guess the selling price is what someone is willing to pay. But everyday I see listings that are below what seller paid not only in 2005-06(and short sales) but 2003-2004. Are we back to 2001-02 prices?

How may people who are trying to hang on and make payments (do the honorable thing) COULD sell at these prices. 2001-02?????

So now the standard is to bail out, give it back to the bank. These folks hurt others who are still trying to make payments.

Just trying to understand?????????