 |
|
MLS Search | The Wired Buyer | The Wired Seller | About Destin | Local Market Pulse | Destin Links Destin, FL February 13, 2008- DING DING DING!! Was that the bottom bell ringing? Consensus opinion has been that noone is going to ring a bell when we hit bottom. That we would not realize we've hit bottom until 6 months after the fact. Everyday I'm asked the million dollar question (literally), "are prices still going down?" The correct answer is that overpriced properties are still reducing- they have to if they truly want to sell. But we are indeed making sales. Savvy buyers are snapping up the lowest priced properties at each price point. There is so much competition that motivation is the underlying factor that leads to lowest price. We find two large pools of sellers in today's Destin market. We have the folks who bought in prior to 2002 who stand to make a tidy profit even if they price at the bottom of their niche. And then we have the folks who bought in after 2004, they stand to lose at least their down payment and possibly much more depending on their loan if they price at the bottom of their niche. These folks are the ones flirting with short sales and contemplating walking away from their property and the inevitable foreclosure. But the common element leading to a sale is to price below the competion. Simple enough... Today (2/13/08) we find that there are 47 greater Destin area single family homes under contract: DESTIN PENDING HOMES. And another 26 condos under contract that will close soon: DESTIN PENDING CONDOS. That is 73 properties that priced attractively and were found by a buyer- RIGHT NOW! If you know what you want then there is a great chance of landing a bargain. It may involve negotiating with a motivated seller or a short sale/foreclosure with a financial institution but deals are being made. Instead of asking if we are at bottom you should be asking if your dream home is available at your dream price, it very well may be! *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: Previous Market Pulse articles: January 14, 2008 December 19, 2007 October 3, 2007 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 © 2008 TheWiredAgent.com -- ALL RIGHTS RESERVED. |