I don't think I agree. After reading all of these auction posts, properties like Joe's look as interesting as the absolutes. In the case of the absolute, you know the property is going to sell. In the case of the minimums, you know before you show up what you can get the property for. If the thread title is true and the posted reserves or minimums are lower, you know there is a possibility to get even lower than published. Just a thought.
Auction Tomorrow - Reserves Lowered
- Thread starter P.A.G.
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I don't think I agree. After reading all of these auction posts, properties like Joe's look as interesting as the absolutes. In the case of the absolute, you know the property is going to sell. In the case of the minimums, you know before you show up what you can get the property for. If the thread title is true and the posted reserves or minimums are lower, you know there is a possibility to get even lower than published. Just a thought.
What comps are you referring to? Have there been any resales in ADII or are the only sales so far precon closings?
Fisher-
If we look at just AD II there are only 2 flips in the MLS, bear in mind the building is brand new and the closings were in March and May. Here is a report of just the lowest priced 2brs on or above the fifth floor (the auction unit is on the 11th and has a much better view):
http://ecarmls.com/EmeraldReports/listings.asp?ID=4911860926
The 3br is a ground floor on the west end of the building. Here is a report of all the 3br sales fifth floor or lower:
http://ecarmls.com/EmeraldReports/listings.asp?ID=4911860928
The penthouse #2405 is a 4br and closed in June for $899700. #2402 also closed in June for $899,700. Offered at $695K plus bp of 10% if won with only one bid will be a heck of a deal. The views from the top are most impressive of all of Destin.
The amenities in AD II include gym with steam and sauna, 3 large pools, 200 yards to the beach, walk on golf, tennis and bicycle trails. The only other condo that offers golf and beach are Sandestin and they are priced twice as much as similar units. The association fees are extremely competitive and lower than any other Destin condos I've priced with similar square footage. The units are beautiful with granite counters, tile and very large balconies and floor plans.
If you want a Destin condo, these are the best deals out there.
If we look at just AD II there are only 2 flips in the MLS, bear in mind the building is brand new and the closings were in March and May. Here is a report of just the lowest priced 2brs on or above the fifth floor (the auction unit is on the 11th and has a much better view):
http://ecarmls.com/EmeraldReports/listings.asp?ID=4911860926
The 3br is a ground floor on the west end of the building. Here is a report of all the 3br sales fifth floor or lower:
http://ecarmls.com/EmeraldReports/listings.asp?ID=4911860928
The penthouse #2405 is a 4br and closed in June for $899700. #2402 also closed in June for $899,700. Offered at $695K plus bp of 10% if won with only one bid will be a heck of a deal. The views from the top are most impressive of all of Destin.
The amenities in AD II include gym with steam and sauna, 3 large pools, 200 yards to the beach, walk on golf, tennis and bicycle trails. The only other condo that offers golf and beach are Sandestin and they are priced twice as much as similar units. The association fees are extremely competitive and lower than any other Destin condos I've priced with similar square footage. The units are beautiful with granite counters, tile and very large balconies and floor plans.
If you want a Destin condo, these are the best deals out there.
This thread is very quiet. Must be a good auction, eh? Any reports?
WhoaSo what does this mean for Ariel Dunes II?
Did anything sell? Or where they just there for the snacks?
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For AD II? I think there were buyers there in hover mode, simply observing. My personal feelings are the 10% buyer's premium caused the double clutch. My seller's are not going to give them away. These remaining post close units are great value and will sell soon enough.
JoeMammy, did anything sell?
Note to self..."if you don't want to sell that pig, don't waste the lipstick."