"How many seas must a white dove sail"

"before she sleeps in the sand?" Blowing in the Wind Bob Dylan

Please forgive my absence in the blog world! Ada and I spent Christmas in London and what an exciting time. Pictures are of the occupy wall street people in the garden of St. Pauls Cathredal, the other is of St. Pauls cathredal.

So far in 2012 there have been 27 new listings of condos in the beach area. Of these 17 are under $200,000 but of course not oceanfront.

There have also been 8 condos closed this year. One of these was a front building in Windrush, this unit was listed and closed in no time. Listed at $159,900 and sold for $151,000, this was a win for the seller.

A lot of people are ready to call the bottom. I tend to think that there will be a final wave of foreclosures this year and then I think we will see a stabilization of the market at the end of this year or early next year. I totally understand why Real Estate people want to call the bottom but I am not ready to give that advice. Look for prices to be steady on the beachside and maybe next year you will see the prices inch forward but never to the point of where they once were, denial serves nobody.

Have a happy and prosperous New Year!

Jim Bagwell