Monthly Newsletter 11-2010 · 2018. 3. 20. · Destin, Florida 32541 (850) 837-5500 x1 The Local Trend BP remains in the news, at least locally. For reasons unknown, BP has drastically

Ed and Terri Smith

Broker/Owners

RE/MAX Coastal

725 Harbor Blvd

Destin, Florida 32541

(850) 837-5500 x1

The Local Trend BP remains in the news,

at least locally. For

reasons unknown, BP has

drastically limited pay-

outs to any given real

estate agent or real es-

tate brokerage firm.

However, waiters, and

bartenders are receiving

huge BP claims checks.

Property managers and

vacation rental property

owners are faring well.

BP has seemed willing to

compensate for vacation

related cancellations.

The MMT Real Trends

Reports to follow indi-

cate mixed results for

this period. We know

that the valuation

trends will not improve

until the sales activity

increases and the inven-

tory levels subside.

Such was as we ob-

served during the first

quarter, prior to the BP

incident. What we are

seeing now may well be

a resumption of that

positive trend. It does

not mean that prices will

necessarily go up

quickly, but an increase

in transaction numbers

equates to increased

demand, which ulti-

mately leads to appre-

ciation.

Single family and condo

sale transaction numbers

are still mostly up Y-T-

D through October. En-

couraging is the fact

that internet buyer

leads have improved sig-

nificantly over the past

couple of months. With

more than 70% of all

buyer leads generated

through the internet,

this is our leading indi-

cator as to future

trends.

An increase in leads is

typically followed by an

increase in showings,

which typically results in

an increase in offers,

which typically results in

an increase in closings.

We mentioned last

month that the fourth

quarter has often been

the best quarter of the

year. It’s too early to

tell if 2010 will be in-

cluded in that club, but

November business is

definitely up.

On another positive

Ed and Terri’s

Market Update

November 2010

note, Terri and I were

ranked #1 in Florida

by RE/MAX Int’l for

the month of October.

Additionally, we have

closed more than 90

transaction sides so

far this year. Cer-

tainly a far cry from

our worst year ever.

National News Interest rates have

risen, but remain at

near record low levels.

There has been much

ado with regard to the

decline in nationwide

new construction

starts. Why is it sur-

prising that consumers

are choosing resales at

a fraction of the cost

of new product? It in

no way indicates nega-

tive market trends.

At any rate, we ap-

pear to be on the slow

road to recovery. As

our market was im-

pacted earlier than

most, it stands to

reason that we will be

the first to recover.

Please call us to dis-

cuss the market any-

time!

October Stats at a Glance

Ft. Walton Beach

to Inlet Beach:

Single Family

Homes For Sale:

1,949 Sold: 128

Condominium

Re-sales For Sale:

2,128 Sold: 110

Residential Lots

For Sale: 1,682 Sold:

41

Okaloosa Property Statistics — YTD October 2010

Metro Market Trends Reports

Bay Property Statistics — YTD October 2010

Walton Property Statistics — YTD October 2010