Chris, Both Buyer and Seller in Fort Walton Beach, FL

on average how much have condominium values dropped in the last 2 years in the okaloosa island area?

Asked by Chris, Fort Walton Beach, FL Sat Mar 20, 2010

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Condo's across the Emerald Coast are rebounding in price. Gulf views in FWB are approx 30K less than similiar properties in Destin
0 votes Thank Flag Link Sun Mar 3, 2013
Yep, for many I'd say pretty close to 50%. But while condos may be purchased at a much lower rate, what is most prevalent is the fact that many condos are being purchase with cash. Not only are the number of lenders financing reduced, now if more than a certain percentage of property owners are in default on the associatioe dues are in default, they will not finance. So definetly make sure you check the stability of the association.

Karen Butler, Realtor
Coldwell Banker United Realtors
Fort Walton Beach, Fl
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0 votes Thank Flag Link Sat Mar 20, 2010
Wow Chris, it depends on which condos you are considering. Some condos that were selling in the 400-600,000 range are now in the 200,000 range. Condos in general are a great opportunity at this time, however, some financing has become very difficult because many lenders got burned with the hot condo market of a few years ago. How much the values have dropped really depends to a great degree on the individual condominium. Azure, for example is running in the high 400,000 range, while some of the older ones are a tough sell and I would say "make an offer" --

If you would like specific information about a specific condominium, I would be happy to assist. Just drop me an email or give me a call and I would be happy to give you more information. The question you ask is a huge question, and this written answer is not the best way to give you the information you are looking for.

I look forward to discussing with you,

Myke Triebold, GRI, LMC
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0 votes Thank Flag Link Sat Mar 20, 2010
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