State of the South Walton Real Estate Market

If you look at latest report there are some numbers that declined compared to same month last year. It will be interesting to see if it is a trend. Rare to see numbers go down in Summer. Saw a report yesterday about southern california market down a bit and they said that area is usually an early indicator for the rest of the country. Although SoWal is unique and not like most of the country.

There sure is a lot of building going on. I foresee a continuing need for housing for new families and infrastructure. As well as more and more commercial needed. New subdivisions and condos are selling out. Look for chains and big projects on 98 coming.

I just remember before the "unpleasantness" of 2005, there were several threads from real estate and builder folks who, and while they didn't predict trouble, they were at least discussing "local stuff".

I personally don't think SoWal is that unique and then some were espousing "slowdown not possible and recession-proof", but there were builders and agents who at least recognized the slowdown and changes in their week to week activity.

I guess I'm trying to restart those "real" discussions.

So do you smell trouble? Or just wondering what is happening?

No, not necessarily. I’m just interested in the current selling environment in somewhat real time.

No, not necessarily. I’m just interested in the current selling environment in somewhat real time.

Gotcha - I'm not a realtor just a bystander - things have been red hot for a few years and I don't see it slowing down. Inventory is down a bit but often in the summer people are focused on vacations and a lot of available inventory are booked rentals so not unusual to see a summer pause.

Alys Beach is crazy busy - it is growing like Rosemary Beach and WaterColor did - construction everywhere. Building Lots in high demand. Several large projects are selling out.

Spoiler Alert....Buyer Beware....if you don't have Gulf beach in your NEW back yard there may not be a place for you to sit in the dry sand in SOWAL..BCC is killing the golden goose....

My agent has told me that "it's been slow."

My agent has told me that "it's been slow."

Please search Customary Use chatter on this forum....also be aware of local (PCB) TV coverage of Walton Beaches....not sure what "its been slow" means? All started July 1, 2018.......

My agent has told me that "it's been slow."

Your realtor have any thoughts why?

Nope!

Robert Reich | Berkeley Professor and former Sec of Labor

Post on his Facebook page today

Two economic bubbles in the news today:

1. Housing prices are dropping around the country. That’s partly because prices got too high, and the incipient housing bubble burst. It’s also because median incomes are going nowhere – actually dropping in the second quarter of the year – so people can’t afford to buy, or to upgrade to bigger homes.

2. Today Facebook’s posted the largest one-day loss in market value by any company in stock market history – a drop of $119 billion in valuation, accompanied by a stock price drop of 19 percent. Why? Facebook had gained more than 80 percent since Trump's election, partly because of enormous interest in Trump himself as well as sensationalized “fake” postings (including Russian bots). By cleaning up its act FB ended the Trump bump, and yesterday reported disappointing earnings.

Watch your wallets, friends. The economy is in bubble territory.

My agent has told me that "it's been slow."

This is The kind of stuff I was talking about. Any other agents or builders care to elaborate on their thoughts? I seem to remember in the Summer of 2005 the activity seem to just shut off like a light switch

Breaking News: The U.S. economy continued its surge, growing at a 4.1% rate in the last quarter. Many experts expect a slowdown later in the year.

NEW YORK TIMES Jul 27 2018

G.D.P. Grew at 4.1% Rate in U.S. in Latest Quarter. Here’s What That Means.

By Ben Casselman

The Commerce Department released its initial estimate of second-quarter economic growth on Friday, providing the latest snapshot of the American economy. G.D.P. Grew at 4.1% Rate in U.S. in Latest Quarter. Here’s What That Means.

Breaking News: The U.S. economy continued its surge, growing at a 4.1% rate in the last quarter. Many experts expect a slowdown later in the year.

NEW YORK TIMES Jul 27 2018

G.D.P. Grew at 4.1% Rate in U.S. in Latest Quarter. Here’s What That Means.

By Ben Casselman

The Commerce Department released its initial estimate of second-quarter economic growth on Friday, providing the latest snapshot of the American economy. G.D.P. Grew at 4.1% Rate in U.S. in Latest Quarter. Here’s What That Means.

The president said he's doing has ever been done before and his economy is growing 10 times faster than ever before.! He said he could fix it and he did!!

GDP is up this quarter because buyers are stocking up on commodities before tariffs hit. Housing sector is declining nationally. Economists don't expect the same level of growth next quarter. Despite that, I think the economy still looks strong, but I wouldn't put all my eggs in one basket.

Meanwhile, closer to home in Grayton, real estate looks very competitive to me. Lots of new construction. Low inventory. Median home price is over 1M. Seems a little crazy, but who knows...

Is there competitive bidding on individual properties, meaning multiple above asking price offers bidding sale prices up?

I work in retail and we're seeing negative 20% since January along with many other stores and restaurants, in which I have a personal connection. Visitors are being very circumspect in how they are purchasing this summer compared to many years past. I also have friends in two different real estate firms and they had noticed the downward trend a few months ago, and had revisited expectations and strategies accordingly.
I don't know why it is considered taboo or negative to report on this. Some people regard it as some kind of jinx, but I prefer to hear the reality, so I can make informed decisions. The economy goes up and down, just like the tides, but I'd rather a full-time resident share what they are experiencing instead of putting my head in the sand. (sorry couldn't help myself!)
I've been a visitor since mid-1980s..lived here now 15 years, so have experienced both the high and lows. From what I have seen our tiny economy is very much dependent on the real estate sector. We do get some residual spending from the military families in PC and Niceville. I am not forecasting, I am stating what has already happened in my world view.

Bed tax collections have been up quite a bit this year. We seem to have more rentals and lots 9f visitors