Under contract with contingencies! This buyer got a great deal. They have 48 hours to remove all contingencies if we get a better offer so bring it. Closes in 30 days!
LakeFront Cottage only $449,000!
- Thread starter Bobby J
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Congrats Bobby J!!
The majority of all homes on water are in a flood zone that is why many are built on pilings. The current home owner has flood insurance and pays $600 a year. You would be the first person I have shown it to that was not impressed with this property. The recent comps all put the value of home in the mid to upper 400's and the adjacent lot just sold for $200,000. It even passes the replacement test.
Flooding? I know of some older houses on that side of Eastern Lake which are built on concrete slabs, maybe four feet above the "typical" Lake level. They do get wet on the big storms. However, this house appears to be built at least one complete floor level above the ground. If we were hit with 25 foot storm surge, most of South Walton would likely be underwater. Personally, I think that price sounds like a steal, if I were looking for Lake living.
I'll add to Bobby J's thought, if you are scared of water, buy your house in Wyoming, not Florida. Florida is virtually surrounded by water.
I'll add to Bobby J's thought, if you are scared of water, buy your house in Wyoming, not Florida. Florida is virtually surrounded by water.