Supply and demand control the real estate market. There is much more supply than demand so we have a buyers market which is exactly what you want. You will be able to buy much more house for much less money. I welcome and would apprecite the opportunity to work with you.
Buddy King
Coldwell Banker United, Realtors
Broker Associate
CRS, SRES, CIPS
Previews Property Specialist
850.832.8042
bking@alaweb.com

Richard,
current sales in the Seacrest Beach are around $280 per sq. ft. in the community and approx: $1,000 per sq. ft. on the beach. You can build a maverick home and set yourself apart from the rest for around $300 per. sq. ft. in the Community you will spend around $400-600 dollars per sq. ft. to build on the beach So you can purchase a brand new 2008 home on the Beach with over 6,267 sq.ft. for $6,364,000; or build it for around 2.7 Mil. see link below. If you own the dirt usually it is better to build and more cost effective; along with the housing market housing construction cost have decreased. If you would like me to put you in contact with my builders please let me know.

Cheers,

Rory

Hi Richard,
In the Seacrest Beach area and in this market I think you can buy more home at a price per square foot that is quite a bit less than what you can build one for. Current building codes and hurricane in particular have really added to building costs. As you probably know building in Seacrest Beach is expensive.

Kind regards, Capt. Mike Foate- By Land or By Sea!
Prudential Shimmering Sands Realty, Inc.

Richard,
It really depends on your goals; if you plan to invest and hold for the future... go straight ahead.
Now, if you have some cash and/or good credit I will suggest to find a Builder, which may be able to create the house of your dream for 70/90 dollars per square feet; that of course if your beach lot is located in an area of interest where the Rent can cover your mortgage.
On the other end you can get some real bargain on existing houses due to the high inventory.
Don't forget to consider flood and other insurance duties, and sit on a house for sale for months.
Don't take someone else headeck, build a brand new house, more attractive to prospect renters.