Mixed market still strong Area real estate cools, but stays sturdy

There's a slowdown this year in the number of homes sold in southern Beaufort County, but those that have sold fetched prices only slightly lower than last year's -- and villas and lots are selling for more.Statistics compiled by the Multiple Listing Service of Hilton Head show that during the first seven months of this year, the average sales prices of single-family homes declined 1.9 percent, compared to selling prices during the same period in 2005.

But sales prices for villas and lots increased 26 percent and 13.4 percent, respectively.
Several factors are driving the cool-down, real estate experts said, including higher interest rates, insurance costs, overreaching investors, increased property taxes, fear of hurricanes and more competition in the market.

The effect has been twofold: Prices that once seemed immune to gravity are feeling that force, and homes that might have sold in a few days or a few weeks might stay on the market longer.

Some segments of the market seem to have remained strong this year. Specifically, lower-priced homes and the high-end luxury homes seem to be selling well, while those in the middle have slowed the most, Realtors said. [ read full article ]

AME Info, Abu Dhabi, United Arab Emirates, real estate briefs column

As the real estate market slowed this past year, local home builders found themselves facing not just declining sales but an increasing number of buyers canceling contracts altogether.

Kern County's cancellation rate for single-family houses was 7.9 percent over the first six months of 2006, up from 0.4 percent during the same period last year, according to data from research firm Hanley Wood Market Intelligence.

But Kern is still doing better than many counties, said Patrick Duffy, managing director of consulting for the Costa Mesa-based firm.

Fresno's cancellation rate for the same period this year was 13.9 percent, and Tulare's was 17.5 percent, according to the study.

Other areas are seeing rates closer to 30 percent, Duffy said.

Cancellations are a problem facing builders across the state, said Alan Nevin, chief economist for the California Building Industry Association.

"The reality is that people who are in escrow and hear about other projects dropping prices want to stand back and watch and see if they're going to get a price drop," Nevin said. [ read full article ]

Catching up with ... Brad Goebel Former record-setting Cuero quarterback now successful in the real estate field

Brad Goebel wasn't surprised to earn the nickname "Suitcase" during his five years in the NFL.

"I played for a lot of teams during a short amount of time," Goebel said.

Goebel isn't complaining. He fully enjoyed a ride that began with an outstanding high school career at Cuero and continued on the college level at Baylor before he signed as a free agent with the Philadelphia Eagles in 1991.

Goebel set a Class 3A record during his senior season at Cuero by passing for 2,528 yards and threw 31 touchdown passes while leading the Gobblers to the state final where they lost to Daingerfield, ironically, at the same stadium where he would play college football.

Goebel earned a scholarship to Baylor where he became a starter in his redshirt freshman season and passed for 2,178 yards, the second-highest total in school history. Goebel threw for 5,026 yards during his Baylor career, which ranks fourth on the school's all-time list and he threw for 25 touchdowns, which is tied for sixth best. [ read full article ]