How low can it go?

Reading the entire thread titled "Lakeplace Home for $625,000" from top to bottom gives a great view of why buyers like myself are having such a tough time pulling the trigger.

As bad as the FL real estate market has been, it seems even more dismal now than ever.

Maybe it is nearing a bottom.

Looking forward to the beach next week. I will be the one in a beach chair drinking the gin and tonic(s) at sunset.


JMHO,
Flyguy

Go light on the tonic, those bubbles can cause hangovers

Reading the entire thread titled "Lakeplace Home for $625,000" from top to bottom gives a great view of why buyers like myself are having such a tough time pulling the trigger.

As bad as the FL real estate market has been, it seems even more dismal now than ever.

Maybe it is nearing a bottom.

Looking forward to the beach next week. I will be the one in a beach chair drinking the gin and tonic(s) at sunset.


JMHO,
Flyguy

Sure makes you wonder where the bottom is.... I have worked two offers this week that I could not get to terms because the seller would not meet buyers offer. That sure made me say hmmmm.... Not every seller is a going to be a short sale or foreclosure. Nor is every short sale/foreclosure worthwhile. Some of them need to go back to the bank. I have been feeling pretty down about this market for awhile and have just recently been wondering what is going on. I do not say this as any sort of sales pitch. Something is going on. We are showing and getting more calls then I have had in a solid year. The game right now is trying to figure out who the buyers and who the lookers are. If you are not buying in this market, you are a looker.
BTW, FlyGuy these comments are not directed at you, just giving my opinion. Enjoy the beach and tonic because that is what this is all about anyway.

If you are not buying in this market, you are a looker.[/b]
BTW, FlyGuy these comments are not directed at you, just giving my opinion. Enjoy the beach and tonic because that is what this is all about anyway.

Guilty as charged. Up to this point I have just been looking but I prefer to call it research. In my defense, I am not using any realtor's time as it is pretty easy to view the inside of condos on your own. When I enlist the full services of a realtor I will be in the offer/buy mode.

And don't forget the gin!

Flyguy

I don't think it's hit the bottom. Pricing is still unrealistic. Don't really feel like spending half a million dollars for 1,500 square feet within a golf cart's ride to the beach.

I don't think it's hit the bottom. Pricing is still unrealistic. Don't really feel like spending half a million dollars for 1,500 square feet within a golf cart's ride to the beach.

That is why you are a looker. No hard feelings but I have traveled the the coastline all over the country and we are slowly becoming the best value I have seen. If wrong, please send me in the direction of better value.

First, its the sugar in the tonic that causes the problems, not the alcohol in the gin.:funn:

But more importantly, $345/SGFT in Grayton with $2600/annual PUD fees (Plus taxes, insurance, maintenance, utilities, etc) is looking high to me. It goes without saying, but willing buyers and willing sellers set the price and until the two meet, all is speculation. The market got too high and sellers have just got to get over it, simple as that.

Amen brother.

Like I said show me an area that has better value. I might move there...

Galveston, TX. The sand's not as white, but lookie at the price for beachfront:

http://www.sellinggalveston.com/index.php?n=2&sn=9&home_id=97

And think of what you get for $459K here.

Galveston

I don't think you can compare Galveston to 30A.

Yep, we have a friend building there in sunrise beach on a primo lot for $600k

But, whatever the price is here, its cheap. Not making anymore of it.
We moved from Key West where an 800 sq feet tear down is $800k

Dare I say Sanibel or Captiva!

http://listings.listhub.net/pages/FMSWFL/929/200802929/?channel=trulia

I'm a Realtor and would buy from Bobby J. Guys a class act and I dare to say no one knows 30-A area better. your looking at 30A flyguy call him.

Dare I say Sanibel or Captiva!

http://listings.listhub.net/pages/FMSWFL/929/200802929/?channel=trulia

I have never been. Is this the place that beats our values and location?

I'm a Realtor and would buy from Bobby J. Guys a class act and I dare to say no one knows 30-A area better. your looking at 30A flyguy call him.

Wow! Thanks for your kind words.

I have never been. Is this the place that beats our values and location?

Gosh I don't think so. I haven't looked at real estate down there in a long time but we love it, always fantasized about owning a place there ... and then in late 2003 we visited SoWal. It was like Sanibel/Captiva in many ways but cheap. We bought a vacant lot that weekend. Still happy.

I don't think it's hit the bottom. Pricing is still unrealistic. Don't really feel like spending half a million dollars for 1,500 square feet within a golf cart's ride to the beach.

Come on please? Be a sport.

No, Galveston is not SoWal. But is it worth it to many buyers to pay four times as much for beachfront in SoWal as it is in Galveston?

And for all that it's a beuatiful place here, it's always going to be as something of a disadvantage to many buyers to a place like Sanibel because the winters are cooler and more unpredictable than beach towns further south.

Don't get me wrong. I like it here. But there are pros and cons to it like every place, and not everyone interested affluent buyer looking for a beach house goes into it with the same values. And the cons of the area do end up serving as limiters to the prices in a non-speculative market.

No, Galveston is not SoWal. But is it worth it to many buyers to pay four times as much for beachfront in SoWal as it is in Galveston?

And for all that it's a beuatiful place here, it's always going to be as something of a disadvantage to many buyers to a place like Sanibel because the winters are cooler and more unpredictable than beach towns further south.

Don't get me wrong. I like it here. But there are pros and cons to it like every place, and not everyone interested affluent buyer looking for a beach house goes into it with the same values. And the cons of the area do end up serving as limiters to the prices in a non-speculative market.

$154,500 4bd 4 ba on .25acres. Brownsville, Tx. Why live up there in Niceville?
And we don't need or want all affluent or non affluent buyers to try to buy here. Just a few.

I live in Niceville because it's convenient to Mr. Mouse and my place of employment. And ended up in the general area because it was the first offer one of us got when we were trying to get the bleep out of Tennessee.

It's a good place to live, and we've got no concrete plans to leave. But if a better offer came along in a bigger city, then we'd move on.

That is why you are a looker. No hard feelings but I have traveled the the coastline all over the country and we are slowly becoming the best value I have seen. If wrong, please send me in the direction of better value.

Bobby,

There are very nice oceanfront areas that are still valued well under 30A. Examples include the Palm Coast area of Florida (oceanfront lot in beautiful ocean front golf community for $999k http://www.hammockdunes.com/viewlot.asp?ID=198versus $2 million for similar properties in planned communities along 30A or oceanfront home for $999k http://www.bobvila.com/RealEstate/Property-537281635.html), or how about Amelia Island Plantation, and georgeous, uncrowded oceanfront resort with tremendous golf courses (5300 square foot home for $1.9 million http://realestate.aipfl.com/details.cfm?id=367when similar type listings in Watercolor, Watersound or Rosemary would be listed for over $3 million) or Marco Island, Florida (http://www.marcoisland.com/realestate/homesearch/homesearch_details.asp?LID=28227. The list goes on, and on including Hilton Head, Nags Head, Wild Dunes, Kiawah, etc, etc.

There are plenty of great places with as good or better values than along 30A. Beauty is in the eye of the beholder--some people love the panhandle, some don't. I do prefer 30A to any of those places but have plenty of friends that do not agree.

SeaSide2 and Ohio Girl, They just don't get it ! You guys are on the money, prices will continue to fall.

SeaSide2 and Ohio Girl, They just don't get it ! You guys are on the money, prices will continue to fall.

I like your avatar. Prices will continue to drop and A properties will continue to go under contract and folks that have always wanted into this market will stand on the side line and watch the whole cycle happen over again. If I was a buyer trying to get into the beach market (near 30A), I would be watching very close. I would be prepared to pull the trigger on some of these really good buys. I am talking about location, amenities, beach access, price, etc. We are getting calls from folks that are going to begin to move money around and RE at these prices seems to be attracting them back to the beaches.

GaDawg

And I assume that the tar is your pic??

Please tell me it is, please!!

Bobby,

You are sort of right, I think. People DO need to keep their eyes open. They need to take a holistic approach to the purchase of property. You gotta add up the tangibles and the intangibles.

If you are (and I love this word) an inspeculator, then you may very well want to make very sure that things are definitely on their way up. Even if you don't buy on rock bottom, you need to be sure of the general trends and be able and willing to ride out a few bumps.

If you are looking towards long term investment, family funn, and all that, then you judge things differently.

But you know all this, you've been around a while and are good at what you do.

IMHO (Maybe not so humble), the bottom ain't here yet. You have to take into account that this is a presidential election year and nobody in their right mind trusts anything anyone in politics says or does during the next 12 to 18 months.:roll:

So there!