It’s SOLD! Case Study: Emerald Grande W226, Destin, Florida 32541
It’s Wendy… It’s Sold! Unit W226, Emerald Grande condo, 10 Harbor Blvd., Destin, Florida 32541
This Emerald Grande four bedroom condo in the corner stack had a tremendous view of Destin Harbor, the Choctawhatchee Bay, Crab Island, and the Gulf of Mexico. Although the floor number is “2”, this condo was actually seven floors above ground level, so not too high, and not too low, offering a view that’s “just right”. Soothingly updated with new furnishings, and well maintained, this Emerald Grande unit garnered a lot of attention during the Destin, Florida selling season. A few years ago, Emerald Grande did not generate many sales, but this year was different.
Sales Factors for Emerald Grande W226
This Destin luxury condo was listed for $925,000.
The buyer offered full price.
Surprisingly, the seller offered to reduce the sales price in exchange for several weeks of future rental bookings, which he valued at $6000.
The buyer agreed, and the sales price was reduced to $919,000. (Find out more about how sales factors make a difference)
The Emerald Grande complex is difficult to finance. The buyer went to two lenders and settled on Renasant Bank. (Read about Emerald Grande financing challenges).
Next problem – the unit underappraised! Since there had been no recent four bedroom condo sales in Emerald Grande, it appraised for $850,000. That’s $70,000 under contract price.
The buyer chose to go forward with the purchase anyway, seeing the value, and the still rising market in Destin, Florida.
It’s SOLD! Emerald Grande W226 sold for $919,000.
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.