I turned away two Destin real estate buyers this week. Not intentionally. But I told them the truth. Each was an out-of-state purchaser looking to get a “deal”. One wanted to expand his rental holdings and another wanted to buy a tear down.
I told them they would not get a deal. There are no deals. Almost every real estate sale along the Emerald Coast of Florida is for full price and higher, with multiple bidders. Properties sell within hours, or a few days at the most. In all price ranges, from $200,000 to $10,000,000. Properties sell “as is”. Some buyers waive inspections, some pay the difference if a property does not appraise at purchase price if they are getting a mortgage. Successful buyers purchase houses and condos without seeing them in person. They allow sellers to stay in the home, and rent back “free” until they move. They pay cash. They pay top dollar.
I told these buyers, if you really want to buy, you have to be aggressive. You have to be fast. You have to want it. You have to be ready to compete. These buyers were casually looking, they had funds, but were looking to get something “on sale”. Guess what? There are no discounts. There are no sales. I told them the truth. I did not hear back from either of them.
If you are casually looking for a house in Destin, Florida, it’s not going to happen.
In the summer of 2021, that’s not how the real estate works anymore. It hasn’t worked that way for months. Yet, I still get calls from people thinking they can buy a short sale, or “handy man special”, even an hour north of the Gulf of Mexico. They think they’ll be the only ones. That’s not true. I had a buyer offer full price on a home under $100,000, way up north. A couple of hours later, we were told someone else won the “bid”. There had been seven offers.
These casual buyers may give me their price range and criteria. They tell me what towns they want, like Destin, Miramar Beach, Niceville or 30A. And they look and look. That’s all they do. They sign up for Zillow notices. They sign up on my website for listing alerts. Once in a while, they ask me a question about a property that catches their eye. “What about this one?” they say, “Can you find out xyz about it?” It’s too late. The property is sold. They don’t understand that serious buyers are ready to pounce when anything in their target hits the market.
I can tell when someone contacts me if they are going to be successful. The only buyer that is successful in this market is one who “needs” a property. They have to buy. They intend to buy. They will buy. They must buy. That is the difference. I tell people straight who contact me. Some don’t like it. Some say “thank you” for being honest. And some, like these two, I never hear from again.
It’s Wendy… It’s Sold!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Email Wendy: [email protected]
Wendy Rulnick, Broker, lists and sells real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Crestview, Sandestin, Seaside, Rosemary Beach, Okaloosa Island, Fort Walton Beach, Niceville, Freeport, Bluewater Bay, Navarre, Florida.