- Richard Eimers, Broker
It’s has begun – sellers are selling their properties and are coming to Destin Florida with the plan to buy. As an example we have a customer who has been online looking at Destin Florida properties for the last 9 months – put his condo in the Caymen Islands for sale and it sold in 3 days; closed in two weeks. I’d be willing to be the buyers of his Cayman Island condo sold something to buy it. This seller turned buyer will be in Destin Florida to buy a $350,000 – $400,000 home in April.
Another Seller turned buyer sold his commercial property in Tennessee after being on the market for nearly a year – sold it and closed a few weeks ago. Coming to Destinto buy his new vacation home at the beach in April – price range around $750,000. You have to know the people that bought his commercial real estate sold something first.
The snowball begins to roll slowly – properties sell and close and the snowball picks up speed. The traditional philosophy of real estate investing is in play, you still make your money on the buy – buy low – keep 5-7 years – remember this is a cyclical business and then 1031 into another property. Interest rates are at an all time low, property values are at the same levels they were at in early 2003 – we’ve got all the makings of a new economy.
