Home Buying in 32541>Question Details

henson1107, Other/Just Looking in Destin, FL

i AM INTERESTED IN BUYING A CONDO IN THE NEXT 2 YEARS. I NOTICE 10 HARBOR BLVD CONDO'S. COULD YOU TELL ME IS THIS A NEW PLACE AND WHY THE SO CHEAP?

Asked by henson1107, Destin, FL Sat Aug 3, 2013

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Looks like the previous answers are good ones. The Emerald Grande has both Fractional and Whole condo units.

I am a Buyer's Broker and work exclusively with buyers. Check out the link to learn more about why you should consider using a search firm like mine and check out my recommendations on Trulia

Lyn Woods
KLW Properties LLC
(850 240-7133
Lyn@KLWProperties.biz
0 votes Thank Flag Link Sat Aug 3, 2013
Hi Henson1107--
There are many great choices for condos in the Destin/Santa Rosa Beach area. There are very few "fractionals"--Emerald Grande is one of them--built in a great location, but you might want to consider buying a "whole" one and renting it out to others--thereby having much more of a sense of "ownership".

Also, be aware of the "condo fees" which can be very costly--up to around 1000--Emerald Grande is 1100/month to be split among the participants of the "fractional".

If you would like to know more about condos and the best values in the Destin area, do not hesitate to give me a call or drop me a line.

Also, just an fyi--unless you are a cash buyer, this type of purchase can be very difficult to get financed. I work with lenders who are good at working with condos, however, as this is a different animal from a single family home.

Myke Triebold
850-305-6256
MykeSaysSold@aol.com
0 votes Thank Flag Link Sat Aug 3, 2013
10 Harbor Blvd. is the Emerald Grande. Very large building at the bottom of the Destin Bridge - the start of the Harbour. The prices you're seeing is for 'Fractional Ownership' a new version of time share. You would own with 6 - 8 others and have access to about 6-8 weeks a year. The units are very nice and modern and also very large. It is one of only a few buildings that offer Fractional Ownership.
0 votes Thank Flag Link Sat Aug 3, 2013
What you will want to do is work with a buyer's representative to protect your interests. I am one of a few in the area that works exclusively as a buyer's representative. The reason why you are seeing such low prices at the Emerald Grande in Destin is because these are Fractional Shares. Remember the old days of time shares? Well, these are a little better because you can actually sell your share later in life whereas a time share is difficult to sell. Anyway, you won't own the whole unit, just be entitled to use it for a fraction of the year. If you want more information on other whole units that may fit your budget, please email me directly at Kelly@KellyKleinSoldMine.com and I will be happy to further assist you.

Warmly yours,
Kelly Klein, Broker and Owner
Lifeguard Real Estate, Inc.
0 votes Thank Flag Link Sat Aug 3, 2013
Hi, Welcome to Paradise.....

10 Harbor Blvd is The Emerald Grande and offers a 5 deck covered garage with 24-hour security, two marinas, full service valet, state of the art business center, banquet facilities, 9700 square foot European Spa and fitness center, indoor swimming pool, arcade, private boat shuttle to the beach with food & beverage service, Kids Club, and a large unique swimming pool and deck that offers food and beverage service, a hot tub, and incredible views over the Destin Harbor, East Pass and the Gulf of Mexico. The Emerald Grande sits in the heart of HarborWalk Village which boast an amphitheater, boutiques, waterside restaurants, water sports, charter boat fishing, and the famous Destin HarborWalk.

The cheaper listings might be what they call fractional owner ship.
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Fractional ownership is an arrangement where a group of individuals or families co-own and share use of a vacation home or condo. Sometimes these arrangements are organized by the users themselves, but more frequently they are set up by a property owner or developer who outfits the property, creates the legal structure and documents, then offers the fractional interests for sale. Contrary to what you might think, groups of complete strangers who come together through these packaged offerings are generally much more successful at co-owning and managing the shared property than groups of friends or family members.

Statistics show that most people only use their vacation home 17-30 days each year. Fractionals are appealing because they allow people to own only the share of a vacation home that they will use, rather than the entire property.

The benefits of fractional ownership are so compelling that many people who could easily afford their own place are opting for fraction ownership instead. Perhaps even more surprising, many people who already own a vacation home are choosing to sell some fractional interests in it in order to lighten their cost and management load
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Feel free to contact me if you have any questions or would like to receive an email with all the active listings....

John Karpowich, Real Estate Professional

(850) 483-0199 Cell

ISellEmeraldCoast.com


Coldwell Banker United, REALTORS®

Florida DRE Lic. #SL3264203
0 votes Thank Flag Link Sat Aug 3, 2013
10 Harbor Blvd is actually one of the niceist properties on the Destin Harbor. I am not sure which unit you are looking at but I suspect that you are viewing a listing for a fractional ownership. Essentially, a period of time in one particular unit. It could be a very good deal depending upon how you intend to use the property.
But, going back to your question. Why wait two years? Interest Rates and prices are slowly creeping up. Now is the time to buy especially since the summer is almost over and great properties are coming slowly back on the market.
call me to discuss
Peter Mohylsky
Keller Williams Emerald Coast
850-517-7098
0 votes Thank Flag Link Sat Aug 3, 2013
The are selling just a fractional interest in the unit so you are only purchasing 1/8 interest for that price
0 votes Thank Flag Link Sat Aug 3, 2013
The are selling just a fractional interest in the unit so you are only purchasing 1/8 interest for that price
0 votes Thank Flag Link Sat Aug 3, 2013
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