Destin Florida Real Estate: June 2008

Monday, June 23, 2008

Investors Swoop In

So we know that the Destin Florida Real Estate market has been a little slow for the last few monthes, but summer is here and we at www.InvestSmarter.com have noticed a new group of investors swooping in. It started about a month ago with a few of the more marketed auctions and they haven't left. More and more people are buying property in the Destin Florida area. See the article below that's talking about why:

Daily Real Estate News June 23, 2008

Investors Swoop In as Land Prices Fall

Investor demand for undeveloped land is increasing as prices decline in many areas.The decline is fueled by developers and individuals who are unloading property they previously bought to build on.Real Capital Analytics, a research firm, says the exodus of some developers has pushed prices down substantially. Real Capital says the price per buildable square foot on land earmarked for retail development averaged $44 so far this year, compared with $79 in 2007, while the average price for land for condominiums was $87, versus $151.“I haven't seen this market in 20 years,'' says Jaime Raskulinecz, a real estate investor and property manager from Verona, N.J., who wants to buy land in the hard-hit market of Cape Coral, Fla. During a recent visit there, she found lots for sale on or near the water at about a third to half below their peak prices of two years ago.Investors in raw land need cash to spend because financing is hard to get. They also must be able to pay the property taxes, keep liability insurance on the property and provide upkeep. The possibility that there might be contaminants hiding there is also a risk.Source: The New York Times, Vivian Marino (06/22/2008)

Not only is it undeveloped land, but deals that make the numbers work. And yes they are out there! Banks are become a little more realistic with price points. Search the Destin Florida Real Estate market today online at www.destin-florida-mls.com to see what's available in your price range.

Monday, June 9, 2008

Buying Waterfront Property

Who doesn't want to own a little piece of heaven? The emerald green waters just invite you right in or the luxury of being able to have your boat right behind your home and just jump in and head out. These are things we all dream about and some of us are able to make the dream a realitiy. If you do make the plunge here are a few things to think about:

-Be specific when zeroing in on a location. Do buyers want a getaway right on the beach, or just within walking distance of water? The price difference between the two is often quite notable. Some buyers are content being within easy driving distance and don’t want to pay a waterfront premium. One caveat: If they're buying a property as an investment and/or plan to rent the property out all season, then proximity to water is a must. It's the first thing seasonal renters look for.

-Think about bad weather and what it means to you. Does the area frequently flood? Is it often hit by hurricanes? If so, how is that affecting current owners’ insurance? Many large insurers are refusing to insure frequently weather-damaged areas and even some areas that haven’t had weather damage in a long time, but could.

-Consider the implications of every season. What happens to the homes in the high season? Are they used primarily by the owners? Rented out per week? Rented out all summer to packs of 20 somethings and their closest friends? Prom weekend hot spot? Buyers who have the time should visit throughout the season to see how the crowd changes

-Don't forget to insure, insure, insure your home

For more information on waterfront property please feel free to view more homes and condos online at
www.RandBCoastalRealEstate.com
www.Destin-Florida-MLS.com
www.Destin-Florida-Condominiums.info
www.InvestSmarter.com

Thursday, June 5, 2008

Weekly Trend Data-June 5th 2008 Destin Florida Real Estate

Destin Florida Real Estate