I own free and clear a condo at Gulf Place Cabanas. We would like to trade it in on something with 3 bedrooms in the $500,000 range.

Asked by Big Jim, Santa Rosa Beach, FL Fri Feb 25, 2011

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Murray Balkc…, Agent, Santa Rosa Beach, FL
Fri Mar 11, 2011
Jim,
What makes you say you are looking to "trade?" It is much easier to find someone to buy your property than trade it. If you are interested in selling your property, you can learn more about the local market in Santa Rosa Beach by going to my site, http://www.dreamBIGproperties.com
0 votes
Caryl Gibson, Agent, Santa Rosa Beach, FL
Fri Feb 25, 2011
Jim,
I may have a solution for you. Please call me at 850 685 7086.
I have a home for sale and the owners would like a condo.
Thank you,
Caryl
0 votes
Lisa Egstad, Agent, Miramar Beach, FL
Fri Feb 25, 2011
Good Morning Big Jim,

If you want to stay in the same area, how about Adagio or San Remo? And while you are trying to find another property owner willing to do a "trade", why not put your condo on the market? With the spring market starting, it's a great time to sell and it would greatly simplify things if someone bought it, wouldn't it? Let me know how I can help you accomplish your goals.

Lisa Egstad, Broker
Champion Realty of the South, Inc.
(850) 543-8033
Lisa@LisaEgstad.com
0 votes
Mark DeSalvo, Agent, Miramar Beach, FL
Fri Feb 25, 2011
Big Jim,
Trades can work if the property being purchased (i.e. traded for) is owned free & clear too. If a mortgage is involved then everyone has to make the lender happy. Presently values in Gulf Place Cabanas are in the 130-150,000 range. If you are trading up to a house or condo in the $500,000 range there would be the difference to be paid or financed. I'd be happy to help in your search but most likely owners of the replacement property you desire may not want to trade down to a 1 BR from a 3 BR. Best bet is to sell your unit at Cabana's then you'll have cash in hand to buy whatever you want with less complications. To put off tax consequences you may want to consider doing an IRS 1031 exchange. You should consult a tax professional to see if this is for you. Good luck, Mark DeSalvo, Newman-Dailey Resort Properties, Mark@DeSalvoPA.com, YourDestinRealEstate.com
0 votes
Caryl Gibson, Agent, Santa Rosa Beach, FL
Fri Feb 25, 2011
Hi Jim,
Do you have an updated market analysis of Gulf Place?
I would be happy to provide one as well as help you with your home search.
Please feel free to call or email me any time to discuss.
Warm regards,
Caryl

Caryl Gibson
Dune Allen Realty,Inc.
850 685 7086
Carylgibson@hotmail.com
Web Reference:  http://www.carylgibson.com
0 votes
Garner Chand…, Agent, Grayton Beach, FL
Fri Feb 25, 2011
Good Morning Jim,
Wil is right that trades can be tough, however, the fact that you own the unit free and clear works to your advantage. Right now, there are 11 condos on the beach side of 30A priced from $450,000 to $550,000 with 3 bedrooms that are not short sales or foreclosures. Below is a link to the MLS listings. If you would like me to send you any more information on any of them, please let me know.
Thank you,
Garner Chandler
garner@realestateon30a.com
850-218-1020
0 votes
Will Palmer, Agent, Seagrove Beach, FL
Fri Feb 25, 2011
Hey Jim. Trades are difficult to work, but I have had success with them. Most recently I worked a trade deal on a Gulf front house for a larger home in Rosemary Beach. Is your current property listed for sale? Spring is right around the corner and now is a great time to get it on the market. Buyers are out looking and a lot of sales will take place in the early spring.

The three recent sales @ Gulf Place Cabanas are:
Unit # Sales Price Sales Date
408 126,000 11/5/2010
202 133,000 11/1/2010
211 155,000 10/8/2010

I would enjoy working with you on this. Please call 850 687 9988 or email me @ willonthebeach@hotmail.com and I will be glad to send you some possible 3 br condo trade options.
Will Palmer, Beach Properties of Florida, LLC
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