Market Conditions in Destin>Question Details

Rhett Shaffe…, Home Buyer in Destin, FL

why is this place so cheap?

Asked by Rhett Shaffett, Destin, FL Sat Jan 11, 2014

This question was asked from http://www.trulia.com/property/1082029655-10-Harbor-Blvd-E31…

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6
It's a time share. Not worth the purchase. Never is. It's great for developers, but unless you have money to burn, and don't mind paying for a mortgage on a piece of property that you have to share with other people, then go for it.

I don't think its worth the money.
0 votes Thank Flag Link Mon Jan 13, 2014
Good afternoon Rhett,

I have just sent you an email that goes into much detail about how fractional ownership works. Also, I wanted to let you know, unlike what some others have been saying, the association dues for Emerald Grande fractional ownership have actually decreased the last two years; not increased. Also, this can be a great way to own property in the Destin area, at a premier condominium resort, for literally, a fraction of the cost to own the whole thing. This type of ownership is great for someone that only wants to pay for what they are planning on using. And, if you don't use it, you can still rent your weeks just like you owned the whole thing. It really can be a win-win type of ownership for the right person. Please feel free to call or email with any questions. All of my contact information is located int eh email that I just sent you way. Have a wonderful day and I look forward to speaking with you soon.
0 votes Thank Flag Link Sun Jan 12, 2014
It is because it is being sold as a fractional. This means that you will receive a title to the property and be able to sell your share down the road, but it also means that you will be limited to the number of weeks you are allowed to use the unit with the other fractional owners. The HOA fees are high now and will continue to go up not down. I do not recommend a purchase like this. If you would like to buy a condo wholly, then the first step would be to prequalify. Debbie.Parmer@Regions.com can do this as well as many others in our local area. Condos are difficult to purchase, but once obtaining one you can enjoy it for many years to come as many times of the year as you wish. I work as a buyer's agent and would love to assist you with a property purchase here in the Panhandle.

Warmly yours,
Kelly Klein, Lifeguard Real Estate, Inc.
Kelly@KellyKleinSoldMine.com
http://www.KellyKleinSoldMine.com
0 votes Thank Flag Link Sun Jan 12, 2014
Read the listing carefully, "Fractional Ownership" is just a fancy term for time share. You are not buying the unit only a portion of the unit to use. There are also significant fees (think of them as HOA fees) involved in this form of ownership.
0 votes Thank Flag Link Sun Jan 12, 2014
This listing is for a fractional ownership at the Emerald Grande at the Destin Harbor so you are only buying a few weeks of usage. A full ownership of a similar condo would be listed for over $500,000. If you need assistance finding a property in Northwest Florida, I have a team of Realtors who specialize in different areas from Destin, Sandestin, Santa Rosa Beach, etc. so let me know how we can help.
0 votes Thank Flag Link Sun Jan 12, 2014
http://www.LAHRealEstate.com/AtTheBeach
Flag Sun Jan 12, 2014
As I read the copy you are buying 6 weeks.

"For a fraction of the price to own, buy opulent living for 6 weeks spread out through each year. Weeks also change on a rotating basis (see attached schedule for Fractional G). Unused weeks are rentable. This residence boasts three bedrooms and three full baths with an open floor plan living, kitchen and dining area. Kitchen includes "
0 votes Thank Flag Link Sat Jan 11, 2014
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