Destin Condo

destin condo

Considering selling your condo in the Destin Real Estate market?

Condominiums in today’s market are a little safer of an investment than they have been in years past. Many people were purchasing the “pre construction” condominiums during the boom. The Destin Condo market was no different. The Emerald Coastline of Destin Florida brought many buyers and flippers, if you will, to this area with huge gains and profits being made on flipping these Destin Condos. Times have changed now and many people found themselves playing hot potato! Some investors and purchasers bought for the right reasons…they wanted to use the unit! Others bought trying to make a quick million..and yes some made a million or two flipping these condos. What we have done in the last year is work with Destin Condo owners to find out what is their current status. Based on the factors below there are different manners to handle selling your condominium located in this Destin Condo market. Here are a few things to consider:

-When did you purchase the Destin Condo?

-What improvements have you made to the Destin Condo since purchase?

-How many units are currently on the market in your building?

-Have you rented the unit since purchasing?

-How close are you to the Bay or Gulf?

-Is there a Marina located in your Destin Condo?

-Do you have a deeded Boat slip to your Destin Condo?

Now these may seem like very simple ideals but there are some underlying factors that can help. For example, if you purchased during the boom of the Destin Condo market(2004-2006 timeframe) you need to assess at what stage did you buy the unit. If you were one of the first or second contract holders you may still be able to make some money on selling your unit. From experience we know that if you are moving towards the third or in fourth and unfortunately some were in the fifth to seventh flip category…we’ve got our work cut out for us. That being said, the banks understand what is going on and they are partially at fault for allowing those steep inflated prices so there are arragnemetns that can be made even in today’s mortgage market and the Destin Condo market.

If you’ve made any improvements to your Destin Condo you can see how that compares to the other units for sale in the building. Do you have a leg up on the competition? Have you put a little extra level into the furnishings of the unit? Simple things like paint or exquisite furnishings can bring a different client when searching for a Destin Condo and in some cases, price isn’t an issue if they really like the unit.

How many units are on the market? Let’s face it…there is a lot of competition out there. Not only across Destin, but Panama City Beach as well. Some savvy investors are looking at both markets determining what they really want in a condominium. Destin Condos have always been a little higher end than other regions, including Panama City Beach, now the 30A corridor has closed the gab and gives the Destin Condo market a run for the money. But many buyers find themselves falling in love with a building. So that’s why it’s important to know your more local competition when it comes to the Destin Condo market. You can look online with any of our prescreened searches and condominium reviews. Take some time to look through the write ups and see what’s available. Don’t see your condo listed? Simply email us and we will add it to the list. We are slowly growing the number of reviews on our site. To say the least there are quite a few out there so it does take some time but if your Destin Condo is of interest to you, it’s of interest to us and we will add it as soon as possible.

If you’ve rented your Destin Condo then there are some benefits there. There could be some mild touch up you would need to do, but most investors like the cash flow! No reason letting it just sit vacation. The Destin Condo rental market is extremely strong and as more units go into foreclosure…they don’t get rented! So that’s a great help in boosting your rental numbers. We all know that rarely will your Destin Condo completely pay for itself, but you can offset the carrying cost by at least 50% typically.

Destin Condo

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