30A Foreclosures and South Walton Distressed Homes

The wealth destruction over the last five years in communities like Watersound, Watercolor, Rosemary Beach and Seacrest has been nothing short of staggering. The rapid rise and price appreciation in these developments was due to speculation on a scale not seen since people were buying dot com stocks in the nineties. As with the internet boom, Real Estate dot com ended much the same way for these high end properties and in some cases prices are down over eighty percent from the highs. I still feel that lots in South Walton and 30A are far too high and will adjust further to the downside but the crash has certainly brought about some deals that have been years in the making. When you are looking to make a purchase in any market but 30A in particular there is only one parameter that must be followed. If you are not buying a Foreclosure or a Short Sale then you most likely are paying too much. Normal home sellers have little chance for the most part to compete against the continued wave of foreclosures that are hitting our marketplace daily. The banks have the ability to consistently under cut the market to sell their Foreclosed assets. This will in turn continue to hold down pricing for non distressed product for many years to come.

Maneuvering the world of Real estate in our region today should only be handled with a true professional who knows the market. Do not be afraid to ask you Realtor for a list of closed transactions they have done in the area you are looking to purchase. Also if you are looking to list your home for sale as a Short Sale, your Realtor should have no less than 20 closed transactions to be able to have a decent understanding of how it works.  In many cases Realtors are moving to places like 30A with little or no experience in the business and those that have experience are fairly new to the area. This can be a dangerous financial choice given the diverse landscape of a place like South Walton. A Broker must understand where the market was, where it went to and where it is today to have an idea about what the future may hold. Many Realtors are perpetual optimists and I have also found this troubling in the market place. A great investor or Sales Person should look at the downside risks and take emotion out of anything to make the informed decision that is needed for their customer. I have closed tens of millions of dollars in Distressed sales as well as normal home , lot and commercial sales through the years. The world of South Walton Real Estate can hold some deals of a lifetime but you must be very careful. We lead our customers through every deal and our customers also have a first look at Foreclosures before they ever even hit the market. This gives the Williams Group a competitive advantage and given our experience it is a choice that you can’t afford to pass up. Call us today for a free consultation about listing your home to avoid the Foreclosure auction or helping you find that deal that most Realtors have zero access to.

Thomas Williams
Managing Broker
Pelican Real Estate

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