Destin Florida - Last Chance for Entry Level Buyers
By Craig Levine
If you've been thinking about buying in Destin, stop
thinking and act now. The last remnants of any real estate priced under $200,000
is leaving the market as your read this article. In fact, most properties are
significantly higher in price and seem to be getting pricier by the day. Forget
about day trading. Jump on the computer and browse MyDestinHome.com to see how
much your condo has jumped in value in the last week. Even with an entry level
condo that will sell for about $250k, you'll still be well poised to take
advantage of tremendous demand and future appreciation. If you have about $300k,
you'll be able to get an entry level gulf view condo. To even consider
purchasing gulf front condominiums, bring out your check book because you'll be
forced to fork over about $450k, to start. If you have heard about the 30A area
which includes the beaches of Blue Mountain, Grayton, Watercolor, Seaside,
Seagrove, Seacrest, and Rosemary Beach, you'll have to dig a bit deeper.
There are still some deals to be found, but not as many as last year. Consider Navarre, a quiet pristine beach located about 30 minutes west of Destin. You can grab a 2BR 2BA hi-rise condo with a bunkroom, on the beach for $489k. This price may seem high, but in Destin, you are looking at a comparable unit that will cost almost $150,000 more. Also, start considering Panama City Beach. This area is undergoing a major rejuvenation with tons of new hi-rise construction and park facilities. Although it is tough to get into pre-construction projects on the "ground floor" due to overwhelming demand, you can still purchase brand new gulf front units for $300-$450k.
One last consideration. If you have a property picked out and are in need of financing, be careful with the lender you select. More and more Georgia based lenders are financing properties on the gulf coast. A significant number of these lenders do not know the nuances of dealing with Florida real estate and customary requirements. I have run into last minute problems with Georgia lenders that have been utilized by my clients. I can't stress enough, at least until they get their act together, to deal strictly with local Destin lenders that are familiar with the requirements that come with coastal property loans. If you would like a list of local lenders that have a proven track record, please don't hesitate to call me.
Please feel free to call me at 678-784-4493 to discuss developing opportunities or your real estate investment goals! I'm always available for consultations in the Atlanta or Destin areas.
Having been licensed since 1994, Craig Levine brings to your real estate deal a world of experience, cutting-edge technology, negotiating savvy, and exemplary service. With Century 21 in Atlanta, Craig was the #2 agent in the #1 office in Georgia in 1998, 1999, 2000, and 2001! He repeatedly received Century 21's highest honor, The Centurion Award, in each of these years. In 2002, Craig joined Re/Max Greater Atlanta, the Nation's #1 Re/Max office. Additionally, Craig got licensed in Florida to bring his arsenal of skills and resources into the Emerald Coast's 2nd Home and Investment market. Now, he wants to put his talents to work for you! Craig is an avid boater, golfer, traveler, biker, and reader. He has written for numerous print magazines including The Seasonal, The Gazette, Cobb Living, Cobbonline, The Cobb Times, Atlanta Nation, Cherokee Nation, North Fulton Nation, Gwinnett Nation, The Southeast Business Journal, Lake Lanier Herald, Revue and News, John's Creek Herald, Forsyth Herald, North Atlanta Business Post, as well as various online real estate related web sites. Craig is also frequently quoted in Georgia Realtor Magazine, Florida Realtor Magazine, the Atlanta Journal and Constitution, and the Atlanta Business Chronicle. Please visit all of his award-winning web sites: CraigSellsHomes.com, MyDestinHome.com, AtlantaHomesAtlantaRealEstate.com, AtlantaForeclosures.net, EchoMill.com, and, AtlantaMansions.net