DESTIN HOTSHEET-todays brand new listings | DESTIN SOLD-in last month | DESTIN PENDING-under contract MLS Search | The Wired Buyer | The Wired Seller | About Destin | Local Market Pulse | Destin Links Destin Market Pulse DESTIN, FL. October 3, 2007 -- At our monthly Newman-Dailey sales meeting this morning Jeanne Dailey (owner/broker) showed us that 2007 vacation rentals are up 7% from 2006. More remarkable is the number of advance bookings for 2008. Vacation renters are already booking their units for the spring and summer and 2008 looks like it will be a record year for short term rental occupancy. Meanwhile, prices are still dropping to screaming WOW levels. I have three Ariel Dunes II units going to a minimum bid auction on Nov. 17 at the Sandestin Hilton orchestrated by Premier Auction Group. This will be a first in our area as other auctions have always been either a hidden reserve (secret minimum price) or an absolute (will sell regardless of bid). Potential buyers have the advanced notice of the advertised minimum bid that the sellers will accept. And these are SIZZLE prices! Let's examine these 3 condos and 1 home: 1. Ariel Dunes II Penthouse #2405 Amazing views from the 24th floor of the Gulf, 5 pools, lakes, Seascape Golf Course and the Choctawhatchee Bay. 2 separate balconies, 1 from the living room and 1 from the master suite. 2356 square feet, 4brs/3.5 baths. Upgraded tile, granite countertops and stainless steel appliances. This a brand new high rise condo with closings from pre-construction contracts in March and May 2007. This particular unit closed for $899,700 in May. Another exact comp penthouse sold for $900,000 in June. There is 1 active penthouse listing in the MLS for $995,000 and an unadvertised developer unit for $1,100,000. The minimum bid for this penthouse is $695K! There is a 10% buyer's premium that means this unit can conceivably be bought for $764,500! The seller is banking that the low minimum bid will bring bidders that will bid the price to near his hopefull price. However, one bid is all it will take to sell and we are accepting pre-auction offers. 2. Ariel Dunes II #110 This is an end unit 3br/3ba on the ground floor. It has an extra large balcony overlooking a spectacular pool area. An additional balcony off bedroom 3 offers direct golf course views. It also has the upgraded granite countertop and stainless steel appliance package. Added feature is the windows in the living room facing to the west with more golf course views. 1763 square feet. The lowest priced active listing for a 3br in this building as of today is $590K. The lowest priced sale for a 3br is $553,700. The minimum bid is $395K! Add on the 10% buyer's premium and we are looking at a conceivable sale of $434,500! A look at vrbo.com will show that other 3brs in the building are renting for up to $2000 per week and their calendars are filling up. 3. Ariel Dunes II #1103 This is an 11th floor 2br unit with great views of the Gulf and golf. 1175 square feet. Minimum bid is $295K with the 10% buyers premium it will conceivably be the lowest sale of any unit with a view, #1303 sold for $360K in April 2007. 4. 712 Mars St. Last but certainly not least is the single family home in the prestigious subdivision of Moreno Acres. Very private fenced lot just under .75 acres large with pool, gardens, gazebo, fish pond and a very nice 2410 square foot 3br/2.5ba home with an open floor plan, massive kitchen and 2 car garage.. Once again a WOW minimum bid price of $349K! If you've been looking for a home in Destin this one is a turn key property with a private, paradisial feel. These properties will make this auction exciting as the bidders know the minimum price coming in. Mark your calendars for Nov 17 at the Hilton in Sandestin. Call or email me if you have any questions. *All statistics are from the Emerald Coast Association of Realtors. Kerry McNulty, The Wired Agent cell: 850.642.1081 toll free office: 800.225.7652 Receive a week's worth of the HOTSHEET - Destin's brand new listings and PRICE CHANGES emailed to you every Monday: Name: Email: Previous Market Pulse articles: August 1, 2007 July 6, 2007 June 2, 2007 May 1, 2007 April 2, 2007 March 1, 2007 January 16, 2007 November 1, 2006 October 12, 2006 August 16, 2006 June 27, 2006 April 8, 2006 March 31, 2006 Feb 21, 2006 Jan 3, 2006 Oct. 10, 2005 Sept. 16, 2005 Copyright © 2007 TheWiredAgent.com -- ALL RIGHTS RESERVED.