Palm Coast, FL, Real Estate Tidal Shift

                                                     

Point of Tidal Shift...
"Ebb Tide"

"Real Estate" has been the "happy" and also the "frustrating" for me, these past 25 years.  Just when you get to thinking that you are an expert... and have it all figured out... BAM!  It all changes, yet again!

Recently, I've had many conversations with a variety of property investors.  From wealthy folks who put millions into real estate in the 2000-2006 boom... to Mom & Pop who bought a modest vacation home here in Palm Coast or Flagler Beach, FL, during those same years.  To see the $580,000 (circa 2005) golf course lot, near the ocean, sell for $65,000 in 2011... or the $220,000 retirement home (in 2004) sell in a "short sale" in 2012 for $110,000, really hurts.  Yet, realistically, it sure doesn't hurt the buyer, does it?  Thank goodness, there are buyers who have faith that things will come back to equilibrium.  They have been keeping us afloat.

Not quite here at Equilibrium...
Yet!

Here's hoping that this is not wishful thinking, yet we seem to be "approaching" that magic place, where things "turn the corner."  We got hammered by the bust here in Florida, yet we read headlines that shout, "Many Major Real Estate Markets Seeing Price Increases!"  Well, not here yet.  We actually saw about a 4% decline in prices again this past quarter.  However, if other markets are trending up, then we will follow.  Good news is that our foreclosure rates are declining and our "distressed sales" fell to less than 50% of total market... (It had been over 60% for a couple of years)

Remember that "Ebb Tide" song, by The Righteous Brothers?

"First the tide rushes in;

Plants a kiss on the shore.
Then rolls out to sea;
And the sea is very still once more.
So I rush to your side;
Like the oncoming tide..."

Well, that's what the market is like... It gets hot and we rush in to buy.  Then it turns the other way and we rush to sell.  Sometimes, however, we get stuck at the ebb...  But it won't be long now.  The tide is changing...