<?xml version="1.0" encoding="UTF-8" ?>
<rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom">
    <channel>
        <atom:link href="https://www.destinrealestatesales.com/blog/tags/bank-owned/rss/" rel="self" type="application/rss+xml" />
        <title>Destin &amp; South Walton Real Estate Blog</title>
        <link>https://www.destinrealestatesales.com/blog/tags/bank-owned/</link>
        <description>Get current trends, statistics, and learn more about real estate opportunities in Destin and South Walton, Florida.</description>
<item>
    <guid>https://www.destinrealestatesales.com/blog/bank-owned-emerald-grande-condo-for-sale.html</guid>
    <link>https://www.destinrealestatesales.com/blog/bank-owned-emerald-grande-condo-for-sale.html</link>
        <author>rolivarez@oceanreefresorts.com (Destin Real Estate Sales)</author>
        <title>Bank Owned Emerald Grande Condo for Sale</title>
    <description> <![CDATA[ 
The Emerald Grande is the gorgeous crown jewel that soars above Harborwalk Village along Destin’s bustling marina. It opened at the height of the real estate boom in 2007 with such high-demand that lotteries were held for buyers to have a first choice of selections. The market changed drastically, so some who bought at peak lost equity and returned them to a bank. Now others have an opportunity to for ownership and acquisition of a rental investment property at a great price.





The Emerald Grande is an architectural masterpiece that resembles a Five Star hotel with an opulent lobby, an elegant restaurant as well as a Fitness Center with saunas, steam rooms, dressing rooms, a private club lounge and an indoor pool. A wraparound open sun deck at the “Grande View” level includes a large pool, an outdoor musical surround sound system, a poolside bar, and two bubbling hot tubs. The stellar panoramic views from the seven-story height are glorious. They include vista views of Holiday Isle, Harborwalk Village, the glistening gulf, East Pass, the National Seashore and the wide expanse of Choctawhatchee Bay.





Emerald Grande includes two luxury towers east and west. The East Tower was sold as timeshares but the sought after West Tower is whole ownership. Half the units here face the interior pool area and the East Tower on the other side, but premium units with larger sizes have spectacular open views of the gulf and bay towards the west.  





This three bedroom bank owned unit is in the West Tower is one of them. Two balconies take advantage of these sensational sparkling views, especially around sunset time. It encompasses 1,566 square feet that includes three full luxury baths all of which are en-suite. The open living area has a state of the art kitchen with stainless steel appliances and a stand-up bar topped with mottled granite.





This faces the living/dining area and sliding glass doors that lead out toward the observation balcony. This balcony also has access to one of the Guest Bedrooms. The Master Bedroom has its own private balcony, and an en-suite bath with double granite topped vanities, a corner spa tub, and a separate walk-in shower.





The bank is asking $499,000 for this unfurnished unit, which comes in at $319 per square feet. Two other 1,566 furnished units are available at $539,000 and $599,000. Gross rental income for these units averaged about $60,000 for 2017. It should be noted that there are three two bedroom furnished units with two baths that encompass only 1,249 square feet priced $550,000 to $630,000 with an average list price at $471 per square foot. Obviously, the current list price by the bank is a great value compared to the others available however you must budget for furnishings. Other units listed have 1,626 and 1,736 with four bedrooms/four baths priced from $899,000 to $1,100,000. The total list price average stands at $515 per square foot. There were five condo sales last year that had a median sales price of $525,000 at an average of $414 per square foot.


Contact our Ocean Reef Real Estate Office today at (877) 392-6085 for further details about this great value or to explore other Destin Real Estate opportunities.

 
 
  ]]> </description>
    <pubDate>Thu, 22 Feb 2018 08:31:00 -0600</pubDate>
</item>
<item>
    <guid>https://www.destinrealestatesales.com/blog/this-bank-owned-beachfront-lot-is-how-much.html</guid>
    <link>https://www.destinrealestatesales.com/blog/this-bank-owned-beachfront-lot-is-how-much.html</link>
        <author>rolivarez@oceanreefresorts.com (Destin Real Estate Sales)</author>
        <title>This Bank Owned Beachfront Lot is How Much?</title>
    <description> <![CDATA[ 
South Walton's Scenic 30A has become a popular destination in recent years due to the incredible scenery along this famous route. The forested sugar white shores and rare coastal dune lakes that parallel the emerald toned gulf have received national acclaim as one of America’s best beaches. Many thousands of acres are preserved as pristine forests and state parks. It started when Seaside gained international recognition for introducing “New Urbanism” architectural design for an Americana styled pedestrian friendly town development back in the 1980s. Other picture perfect meticulously planned coastal villages started to spring up almost overnight beginning in 2003. Each one offers its own gorgeous, unique architectural personality in styling, but all of them feature a golden lifestyle beside the bright beautiful beach. High demand for the property here has skyrocketed over the past few years. Most of the land along the sugary shoreline is preserved as forest, and a countywide ban on building heights enacted in 2005 assures low density, so the finite supply of residential development is limited.Beachfront lots are in highest demand with prices to match, and this .61 acre property is overlooking its private beach at 17 Paradise Key Boulevard and is listed at $7,299,000. It is located in one of the most exclusive custom home developments along South Walton's Scenic 30A and nestled between Alys Beach and Rosemary Beach in Seacrest. This gated private residential community includes a unique high caliber collection of opulent Mediterranean styled homes and custom built mansions. Most homes are lushly landscaped with separate Guest Houses and Infinity pools that provide gorgeous limitless views of the gulf.


Currently, there are twelve vacant gulf front lots in this area that are priced between $2,390,000 up to the price of this property listed at $7,299,000. The average price for current gulf front listings comes in at $3,525,091. Nine comparable beachfront lots have sold here within the past twelve months ranging in price from $1,839,876 to $3,700,000, coming in at an average price at $2,620,309. There is one contract with a pending closing which was listed at $6,600,000.It is interesting to see how this compares with the 32 homes that are currently for sale on the gulf nearby. They range in list price from $1,498,000 up to $11,900,000 with the average price listing offered at $5,689,875.  During the past twelve months, 29 gulf front homes have sold in this area. They have closed in a price range from a low of $1,575,000 for a 1,670 square foot three bedroom beach cottage up to a high of $12,500,000 for a five-bedroom home with 4,520 square feet. The average sale price for all closed beachfront homes comes in at $4,607,586.If you want more detailed information on this beachfront lot for sale or any gulf front home listings contact our Real Estate office today at (877) 392-6085. 
 
 

 ]]> </description>
    <pubDate>Thu, 16 Nov 2017 09:58:00 -0600</pubDate>
</item>
<item>
    <guid>https://www.destinrealestatesales.com/blog/octagon-house-for-sale-in-inlet-beach.html</guid>
    <link>https://www.destinrealestatesales.com/blog/octagon-house-for-sale-in-inlet-beach.html</link>
        <author>rolivarez@oceanreefresorts.com (Destin Real Estate Sales)</author>
        <title>Octagon House for Sale in Inlet Beach</title>
    <description> <![CDATA[ 
A unique opportunity is available to buy a bank-owned property located only a block away from the jewel toned waters of the Gulf of Mexico at Inlet Beach. This could be the story of the ugly duckling and the swan. The “ugly duckling” in this case is an unusual octagonal shaped home located here that is not by any means ugly, but has a very creative different design. The “swan” of value is the vacant property around it that is at a highly sought after location in a prestigious residential community located at the far end of South Walton’s Scenic 30A, known as Inlet Beach.  The neighboring homes around it are multi-million dollar mansions and it is just an arrow’s shot away from the premier community of Rosemary Beach. This gives you an awesome location with a capital “L” and the never wavering real estate mantra will tell you that value is ALL about location.





Inlet Beach serves as the eastern gateway to the privileged picturesque world of Scenic 30A. It is bordered on the north and east by Lake Powell, which happens to be the largest coastal dune lake in northwest Florida, and one of the largest in the world. Coastal Dune Lakes support a huge amount of natural wildlife of all kinds due to a hybrid composition of water that is half fresh water mixed and half salt. A sugary dune separates the lovely lake from the open gulf and periodically it opens and closes to create the exotic mix of water. These lakes are precious and found in very few other parts of the entire world. The glistening gulf borders the southern end of Inlet Beach and this property is just a short stroll away. This community is centered at the juncture of the Emerald Coast Parkway and the beginning of Scenic 30A, which is burgeoning with new growth.  A new hotel and two upscale shopping centers with fashionable retail specialty stores and restaurants have been recently established here.



This pre-existing octagonal “starter home” has two bedrooms and two baths that encompass almost 1,000 square feet. It may eventually serve as a perfect little guesthouse when a main residence is built here. The eight-sided structure provides lots of light since windows are located all the way around its center.



A vaulted cathedral ceiling greatly enhances the space and parchment toned tile-flooring flows throughout. The open floor design also accentuates the look and includes a kitchen with stainless steel appliances and granite countertops. The property itself has been partially landscaped.



There are currently 109 homes for sale at Inlet Beach with prices that go all the way up to $25,000,000. The average price for homes listed at Inlet Beach stands at $1,241,224. This home is listed at $850,000. Contact our Ocean Reef Real Estate office today for more details, a professional consultation and make an appointment to check it out at (877) 392-6085.

 
 
  ]]> </description>
    <pubDate>Thu, 24 Aug 2017 09:49:00 -0500</pubDate>
</item>
<item>
    <guid>https://www.destinrealestatesales.com/blog/bank-owned-bay-front-home-for-sale.html</guid>
    <link>https://www.destinrealestatesales.com/blog/bank-owned-bay-front-home-for-sale.html</link>
        <author>rolivarez@oceanreefresorts.com (Destin Real Estate Sales)</author>
        <title>Bank Owned Bay Front Home for Sale</title>
    <description> <![CDATA[ 
This stately Santa Rosa Beach bay front estate has finalized a foreclosure and is now available for sale by the bank. This lovely residence at 143 Hewett Point Road encompasses 6,227 square feet with five bedrooms and graces over half an acre of landscaped grounds directly on the Choctawhatchee Bay.





It was completed in 2008 with meticulous master craftsmanship, architectural detailing, upscale building materials and elegant flourishes in design. In fact this home could not be duplicated today at this price.





As soon as you enter the grand entry foyer of this elegant home you become captivated by the classic palatial interior, which includes ornate columns, shimmering marble floors, rich hardwoods, vintage chandeliers and ornate thick beamed tray ceilings. A regal formal dining room is flanked by a living room with a custom built bar, a marble inlayed fireplace and French doors that look out upon the beautiful bay.





The grounds include a swimming pool and a 100 foot boat dock.





A state of the arts kitchen has rich custom cabinetry, wraparound granite countertops and a culinary island. The Master Bedroom is on the first floor with a luxurious bath en suite and a richly adorned library office that includes a fireplace. A Rosewood staircase leads to lovely Guest Bedrooms on the second level along with a large Media Room and access to a large columned Observation Deck with a gazebo overlooking the bay.





The top floor is an amazing Recreation Game Room with a custom bar, Tiffany styled chandeliers, a five person Sauna and a full bathroom. An elevator connects all three floors.  The home also comes with a 600 square foot Carriage Guest House that sits above a three car garage. These guest quarters include an open living area with vaulted ceilings, a charming balcony, an efficiency kitchen, a bedroom and a full bath. 





When a bank finalizes a forecloser they own it out right so negotiations are expedited. Banks often sell such properties for less than market value because it affects their balance sheets adversely, limiting their monetary reserves available for productive loans. This property is being sold “As is, Where is” which means the bank will not negotiate or pay for any repairs that may be required so the most important consideration is the physical condition of the property. Your contract offer should require a Building Inspection contingency clause to have a reputable inspector thoroughly inspect the property so you get a good idea of the cost of possible needed repairs. It should also allow you to cancel the contract if the results of the Building Inspection are unacceptable. Your contract offer should also opt for Title Insurance to make sure that any possible property liens are discovered in advance and paid from the bank’s proceeds at closing.





This estate at 143 Hewett Point Road in Santa Rosa Beach is listed at $1,675,000 which equates to $269 per square foot. Currently there are 20 bay front homes for sale in Santa Rosa Beach ranging in price from $684,900 to $7,350,000. The averaged priced property is $1,806,675 with 4,559 square feet, which averages at $390 per square foot. Contact Ocean Reef Real Estate office today for additional details at (877) 392-6085. One of our knowledgeable agents can provide advice, produce an in depth Comparative Market Analysis and set up an appointment to check out this opportunity to own your dream home.

 
 
  ]]> </description>
    <pubDate>Thu, 05 Jan 2017 07:45:00 -0600</pubDate>
</item>
    </channel>
</rss>