As with the flowers blooming in spring, so is real estate.
Everyone wants to know about distressed(short-sales and pre-foreclosures) properties and REOs(bank owned properties).
Currently, of the 2,563 single family homes and the 1,355 condominiums would you believe less than 10 percent of those are distressed or foreclosed.
I get asked all the time, "find me a deal." Some people still think that banks are "giving" properties away. They are not.
Banks and sellers are doing their homework; just like buyers.
Priced right, the typical sale is rarely more than 6 percent off of the list price with many being at full price.
Looking at the individual areas let's start with from east to west this time.
Freeport: Running consistent with April's sales, Freeport saw more cash closings than conventional loan closings.
30A Homes: Of the 69 homes sold, nearly half were cash sales averaging a purchase price of about $570K.
30A Condos: Although unit sales were down, the prices were up almost $100K over March!
Santa Rosa Beach North of 98 Homes: April showed a little slowdown in closings. However, nearly all were at list price.
Destin/Miramar Beach (including Sandestin) Condos: An increase in cash buyers with the average sale coming in at $309K helped the condo market here.
Destin/Miramar Beach (including Sandestin) Homes: Sales were holding steady, but inventory took a huge dive. There are 10 percent less homes on the market in this area than last month.
Niceville Homes: A sharp increase can be noted in sales over last month. With homes sales averaging at 98 percent of list price, it's no surprise that almost half of the purchases were VA loans.
Navarre and Fort Walton Beach Condos: With over half of the units sold being financed, we are seeing conventional loans coming back helping the condominium market.
Navarre and Fort Walton Beach Homes: Days on the market are on the decline here, where the units closed were up from last month. VA loans accounted for nearly half of all purchases at 98 percent of list prices.
Crestview: Sales held steady from last month with a slight decrease in purchase price. To date we are seeing nearly 100 of those homes available either distressed or REOs.
Bonnie Hall is a broker associate with Emerald Sea Realty Group. Bonnie obtained her real estate license in 2003 and has been resident of Santa Rosa Beach for more than 10 years. Contact Bonnie at 850-240-9901or visit www.BNDestin.com