Marsha Monto…, Real Estate Pro in Palm Beach, FL

Are buyers still flocking to Florida ?

Asked by Marsha Montoya Mayer, Palm Beach, FL Sun Aug 8, 2010

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Yes! You have Baby boomers and more are on their way, they will start to flock in droves just give the over all economy a little more time for them to buying. We are also very good looking in the eyes of the european market where to euro has made our homes seem like bargains, as their econmic lull starts to lift we will see tons of Europeans looking to buy. If you don't want Florida Property you are not looking for the best value in the United States!
2 votes Thank Flag Link Mon Aug 9, 2010
Hi Marsha,

Are they "flocking" ? Not sure - Are we still seeing folks who want to move here - I see a pretty good number of people who are definitely looking. Florida is a place like no other, and I think it will always draw people from everywhere. I don't trust the numbers games some sources play. I hear the hype that there are more people now leaving than coming here. I'm not surprised. We were busting at the seams when the economy was booming. Everybody and their brother was moving here. I think it is just people who only came here to work and capitalize on the boom who are leaving. People who were serious about coming here to make a positive contribution and take advantage of all it has to offer are here to stay, I think. To those, I say, welcome to our beautiful world! No matter how bad it gets anywhere else, it is always going to be better here!
Web Reference:
1 vote Thank Flag Link Sun Aug 8, 2010
Europeans are already here. Back in 2004, we started getting many Russians looking for large tracks of land to purchase. In the last month, it was announced that here in Walton County, FL, some Russians have partnered with a local to purchase about 500 acres, in Freeport, FL to start an energy farm where they plan on starting Florida's largest solar energy farm and plan on selling that power to our local power company.
0 votes Thank Flag Link Thu Aug 12, 2010
I know I am going there this Fall to go shopping
0 votes Thank Flag Link Wed Aug 11, 2010
Marsha, they used the data from 2008, because as noted in the article, the data they are using comes from IRS tax returns, which at the time the article was written, was the last complete year they could analyze.

As for the effects of oil on our local real estate market in Walton County, sales across the board dropped by about 50% in June (post oil spill) and remained at similar level in July. However, in July, pending sales for condos, homes, and town homes in South Walton, increased on average by 66%. Also, in particular luxury developments within our local market, we saw higher increases in pending sales. For example, in Rosemary Beach saw an increase of 350% for pending sales in July. WaterColor saw 100% increase in pending sales.

In South Walton, the oil came ashore in very small amounts in the way of "tarballs", each piece no larger than maybe a quarter, but on average, dime-size. They had 3200 BP subcontractor workers collecting those that did was ashore. To give you some idea of scale, Panama City Beach recently reported that they had one day where they were hit hard by the tarballs, stating that they had collected 35,000 tarballs from the beach. Putting that into reality, the 35,000 tarballs equaled about 10 pounds of tarballs, which doesn't sound nearly as bad as what the press has made it seem. I doubt you could fill a big trashcan with all of the tar balls collected from the beaches in Walton County.

Buyers are beginning to realize that real estate values are not affected by this particular oil spill, and they are jumping back into what was a very hot market prior to the oil spill.
0 votes Thank Flag Link Wed Aug 11, 2010
Very interesting article. But, I'm puzzled. Why are they using dasta from 2008? And how can that data be accurate post- oil disaster on the Gulf Coast?
0 votes Thank Flag Link Mon Aug 9, 2010
Hi Marsha. Flocking as in young families and children, college age students and singles from all points north, west and east.

Scott Miller, Realty Associates, Boca Raton, FL
0 votes Thank Flag Link Mon Aug 9, 2010
"Flocking" as in snow-birds? I think many retirees pensions have been crushed by falling stocks in their portfolio, so the snow-birds are not buying.

According to a recent news story, America’s Money is Moving to Walton County, FL.

"According to Forbes writer, Jon Bruner, Walton County, FL ranks 5th in the USA, for places that the wealthy are moving. Forbes analyzed data from the IRS to determine the rankings, and not surprisingly, Florida and Texas dominate the list....(click link below to read full story.)
0 votes Thank Flag Link Mon Aug 9, 2010
Hi Marsha. In my area, yes. It's getting crazier every week. The offers are at a fever pitch. Buyers are offering full price and over without thinking twice, because they know the competition is fierce.

Flocking is the word, at least in my area.

Scott Miller, Realty Associates, Boca Raton, FL
0 votes Thank Flag Link Sun Aug 8, 2010
I always say, "in Winter when people are being blown off the streets in Chicago people in South Florida are out taking the sun". It truly is a tropical paradise here.

Those of us who are in Real Estate long enough are adjusting to a different market. I am still busy, working way harder, but perhaps busier than ever !!!
0 votes Thank Flag Link Sun Aug 8, 2010
Buyers ARE flocking to Florida to buy. They realize that prices are low low low and NOW IS THE BEST TIME EVERY TO BUY IN FLORIDA.

Marilyn Farber Jacobs
0 votes Thank Flag Link Sun Aug 8, 2010
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