Bank owned and foreclosure properties may be some of the most popular words in Destin, Sandestin, and 30A real estate right now. While it is a hot topic, it is important to understand and have the right expectation for this process. The most common education comes in the area of "how much the bank will sale from list price." As I tell all buyers, I am ready to work for you and present the offer you are most comfortable with.....but it's most likely not going to be a 50% off sale once the bank has the listing. In fact, if the property is desirable enough we have seen them sale for more than asking. (*ask me for examples)
One thing that banks do extremely well is price the properties in line with the market. Now I'm speaking in majority here and there are always a few outliers to the rule. Banks price the property in accordance with a recent appraisal. Usually this appraisal for bank owned properties has been conducted in the last 30 days. Because of this, we see most desirable bank owned and foreclosure product selling within 85% of asking price.
Are bank owned and foreclosure properties the best values in the market? Not necessarily....but they are very good. Sellers now know if they want to move a property they have to recognize the foreclosure inventory and possibly compete. Because of this we do see some traditional sales being labeled as the "best deal".
But that's why we are here. To show you comparables for each property and evaluate the value of each bank owned or foreclosure property. Below I am providing you with links to all bank owned and foreclosure product for each of the most popular segments of our real estate community. Take a look, let me know what catches your eye, and we will dig into the market value to see if it is truly the "DEAL".
Waiting on the "killer deal"? Not being rude....but you may have to take a number in line. There is an incredible amount of buyers on the fence waiting for the steal of a lifetime. The market cannot possibly provide the options to the number of potential takers there are to a property that would be considered a steal above all others. My advice? Be ready. Know what is still important for your personal taste, desired area, how you wish to pay, communicate with me, and be sitting on "go."
Below are links to the current bank owned and foreclosure inventory. Study the actual amount of inventory. How much is there in your desired range? How many are desirable to you or something you would vacation or live in?
Destin Bank Owned Homes For Sale
Destin Bank Owned Condos For Sale
Sandestin Bank Owned Homes For Sale
Sandestn Bank Owned Condos For Sale
30A Bank Owned Condos For Sale
Watercolor Bank Owned Properties For Sale
Seaside Bank Owned Properties For Sale
Seagrove Bank Owned Properties For Sale
Rosemary Beach Bank Owned Properties For Sale
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