need info on home prices in WaterColor

[George]

Does anyone have any good information about the status of the market in WaterColor right now? I am interested in information about the housing market as oppossed to lots or condos. It appears the prices are all over the map, and I am trying to make some sense of what is a realistic price for a nice home in a desirable section.

 

[fisher]

Does anyone have any good information about the status of the market in WaterColor right now? I am interested in information about the housing market as oppossed to lots or condos. It appears the prices are all over the map, and I am trying to make some sense of what is a realistic price for a nice home in a desirable section.

Actual average sales prices have been very stable in Phase I over the last 15 months. The average price per square foot remains in the $620 per square foot range with a low of $500 and a high of $761. A large range of sales prices but the average sales price remains consistent. Three sales in Nov 2007-Jan 2008 remain in the $620 range. More stability in Phase I due to proximity to the beach and the fact that build out is complete.

Phase II and Phase III show much more volatility and downward price trends. Several sales below the $400 per square foot level. Lots of builder inventory and empty lots will probably create continued volatility in these newer phases.

 

[Smiling JOe]

everyone's idea of nice home and desirable section, vary. Yes, prices are all over the place. WC sales office threw about five new listings, or price changes, I cannot recall which, on the market yesterday. Most homes in WC are loaded with upgrades. What section do you consider desirable?

 

[Smiling JOe]

I think another reason for more stability in Ph I, is due to many of those homes were built prior to the peak of the market, in 2005. So in many cases, people got in at good prices and don't HAVE to sell. However, in Ph II and III, we see some of those homes bought at the market's peak, and some of those people HAVE to sell, hence the volatility in those sections. Ph II and III offer some good potential to enter the market at a low price compared to recent history.

 

[George]

I was thinking about Phase III in particular, and I am trying to get a read on where the price per square foot is right now.

 

[BeachKing]

Ask a realtor to dig up a few examples from Phase 1, 2 & 3. Or better yet, pick out a few sales from the Walton Co Property appraisers web site. Its rather easy to look up WC homes. Take them to a realtor and see if they can scrounge up the original listing for you. You'll see for yourself whats happened over the last 14 months or so.

 

[George]

Does anyone have a sense of whether the prices are stabilizing, falling or rising? If they have not stabilized, I would like to know what people think about when prices will stabilize and start to appreciate again at normal appreciation rates.

 

[GaDawg]

George, It's like the Walmart commercial, PRICES ARE FALLING !!!! , ,

 

[SHELLY]

Does anyone have a sense of whether the prices are stabilizing, falling or rising? If they have not stabilized, I would like to know what people think about when prices will stabilize and start to appreciate again at normal appreciation rates.

Please define "Normal Appreciation Rates."


.

 

[George]

I would define normal as something that slightly to moderalty beats inflation. Somewhere in the 4 to 5% range.