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.