Destin Florida Real Estate

2010 looks like it’s going to be a great year in real estate here on the Emerald Coast. Prices have continued to drop in 2009 so buyers are out in bunches to scoop up the good deals. So why is it somewhat difficult to get to closing?…lots of reasons. Mortgage rates are hovering around 5% but it’s not so easy to get qualified to buy. You need great credit scores and higher than normal down payments. (The banks are pulling in ) They only want to lend to the most qualified. No more low credit scores, no more questionable loans. The buyer has to show income and be able to prove it should continue. The next obstacle for most buyers…the appraisal. Appraisers are very cautious about values they place on real estate not only here but nationwide. So if you are looking to get the best deal on that second home, condo investment or vacation rental, don’t be afraid to make the offer. You just may get it. Although short sales and forclosures are around, they sometimes require a lot of patience! Don’t be afraid to jump in….if you have cash or great credit and the right Realtor, this may be the perfect time to shop for real estate in the Destin market. Our surrounding beaches are still some of the most beautiful along the gulf coast.