 |
|
MLS Search | The Wired Buyer | The Wired Seller | About Destin | Local Market Pulse | Destin Links DESTIN, FL. August 16, 2006 -- The buyer's market is still raging strong in the greater Destin area. Reductions are still the norm as we reduce to find the exact price per square foot that will excite buyers and bring the offers. Let's take a look at the HOTSHEET price reductions that I have sent out to my subscribers in the last month: Destin PRICE CHANGES (110 decreases, 12 increases) for 8/7 - 8/14 Destin PRICE CHANGES (96 decreases, 6 increases) for 7/31 - 8/7 Destin PRICE CHANGES (75 decreases, 4 increases) for 7/24 - 7/31 Destin PRICE CHANGES (75 decreases, 4 increases) for 7/17 - 7/24 That totals up to 356 price reductions and 26 price increases! This includes single family homes, condos and residential lots. I'd say prices are still coming down, wouldn't you? Not only are prices dropping but sellers are finding ways to be more creative with offers of "free boats and jet skis", "first 12 months mortgage paid", "seller pays all closing costs" in lieu of a price reduction. Destin sales activity over the last 3 years:
Notice how residential lots' sales have dramatically slowed. The single family homes and condo sales have also slowed significantly. The bottom line? If you have had your heart set on owning a home in Destin you may never find a better time than the present. Make an offer that you are happy with, the worst that can happen is the offer will be rejected. Quite possibly the negotiating door will open with a counteroffer. If the counter is unacceptable then move on to another comparable property and make another offer. The key to finding the best deal is to be patient, carefully examine all of the available properties within your price range and then do the research. Find out the history of the listing, how many times it has reduced (if at all). Find out what the current seller paid for the property and when. Talk to the listing agent and probe for details that may tip you to the seller's motivation. These are all things that I do for my clients. I begin early each morning with a cup of coffee and the HOTSHEET - both new listings and price changes. You can receive this info too, just fill out the form below and you will receive it every Monday morning with no obligations. Kerry McNulty, The Wired Agent 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: June 27, 2006 April 8, 2006 March 31, 2006 Feb 21, 2006 Jan 3, 2006 Oct. 10, 2005 Sept. 16, 2005 Copyright © 2006 TheWiredAgent.com -- ALL RIGHTS RESERVED. |