Panama City Beach Condo STEAL

By
Real Estate Agent with Pelican Real Estate BK3050909

I wish I had 20 of these to sell!  We recently put a deal together at the Calypso Resort and Towers (right next door to the $200 Million Pier Park) for a unit where the Seller accepted a contract at 20% off of TODAY'S MARKET VALUE.  In a time where there are so many "motivated sellers" of different kinds, this was as unique of a situation as I have run across in eight years in the business.  I guess the best way to illustrate this Seller's motivation is to say that he is "choosing a different path in life"...which essentially calls for the liquadation of his real estate.  The last sale on one of these units was at $445K...this Seller went from $429K to $399K to $350K in a matter of hours.  I guess I still need to prepare my Buyers better, though.  Numerous calls and e-mails went out to my same cusotmers who always say "call me when you hear of a good deal"...only one was REALLY ready to move.  We got it done, though.

Comments (1)

Joey Smith
Keating Associates - Naples, FL

Craig....

I had one like this this year....from a developer who decided one day to liquidate a few extra units.... It began late at night ...and the next morning I was the first one there to view the units and call the 5-6 immediate buyers I believed could be "ready"....only one was reachable and ready...or I could have sold 5 units that morning....

On each unit they "discounted" that morning....at this amazing resort community called Ole' at Lely Resort... they had at least 2 backup contracts by the end of the day...and I am proud to say.... I believe my client got the best one available.....and although he is typically conservative....he trusted my judgement and bought unseen...

When I saw him at closing....his only words to me were, "Joey, I knew we were buying around the bottom of the market.....but wow... I am out of words"..... since then (3 months ago)...I have sold 2 other units there (same floorplan) for considerably more money.....it is hip and fashionable and wow...I am out of words!

Jun 18, 2008 07:09 AM