Walton and Okaloosa County Foreclosures
When will the Real Esate Market Turn Around? That’s a question that I get almost daily. To borrow from Wall Street…..”You can always spot the bottom when there is blood in the Streets”. That is in reference to stockbrokers and speculators that jumped out of high rise buildings during the great depression.
When things look the worst and people have no hope, they sell because of fear or necessity. This point in time is when the most savvy of investors begin to accumulate. When you think about it, you start to see the logic. Whether people are selling as a result of fear or necessity, it doesn’t matter. The affect is the same, tons of inventory available with motivated sellers. With Real Estate, forced sells are easy to monitor. Specifically, the majority are individuals that can no longer pay for their homes, condos, or lots.
The number of Okaloosa and Walton County Foreclosures has been increasing month over month for the past 3 years. At some point, we will see these decrease and the truly motivated sellers will be gone.
Only a few people will ever time the market perfectly and buy at the bottom. For the vast majority it will be too late. The truly savvy are buying now. They aren’t looking to buy something to flip in six months but are accumulating undervalued assets for the long term appreciation.
