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May 2009

Found 3 blog entries for May 2009.

The developer for Waterscape Condominiums has recently released several units for sale at steeply discounted liquidation prices.  Waterscape is an upscale, kid friendly, beach front, condominium located on over 490 ft of beach front on Okaloosa Island.

Waterscape is loaded with amenities including: lush tropical pool with zero entry, splash and wading pools for the kids, lazy river, fitness center, tiki bar, and much more.

The units are well-equipped with stainless steel appliances, crown molding, 9 ft. ceilings, tile, and carpet.  There are condos available in 1, 2, and 3 bedrooms. The sizes of each are:

1br:   864 square feet
2br:  1292 square feet
3br:  1490 square feet

Click the link below for a complete listing of condos available at

8,254 Views, 1 Comment

Demand for condos in Destin and along the Emerald Coast has picked up dramatically in the past 4 months.  This was to be expected with the precipitous decline in prices experienced in the past few years.

As a realtor, you would think I would be ecstatic. However, there's one major problem.  Fannie Mae, who provides financing for the bulk of residential properties in the country is now  refusing to finance condos.  Ok, that's not entirely true.  They will still finance condos that fit a very specific criteria.  The problem is that very few, if any, condos along the Emerald Coast of Florida, meet the criteria.  These are the same folks that Fannie Mae was literally throwing money at back in 2004 and 2005 to fund their condo purchases.  This is further

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I received feedback from the bank today on two short sales. 

One was a beach front condominium in Destin that I had presented an offer of $210,000 to the bank about 3 months ago.  After several frustrating weeks of little to no communication from the bank, they finally called and told me that the appraisal came in at $260k and to bring another offer.

The second communication was regarding a home for sale in Destin.  The offer had been presented at $170,000 about four months ago.  Again, after several weeks with little to no communication, the bank came back and said that the property appraised for $200,000 and to bring a better offer.

What's the point? Simply this: APPRAISALS ARE THE HOLY GRAIL FOR THE BANKS. Listing a home or presenting an offer

1,541 Views, 0 Comments