SoWal Real Estate Report - Spotlight on Redfish Village
November 20, 2012 by Ellie Avery
This week, let's take a closer look at Redfish Village in Blue Mountain Beach – a distinctive development consisting of both residential and commercial units in the heart of SoWal. The designers and developers created a first-class South Walton Beach community, but the timing made things challenging.
Redfish Village was built with great potential to become a vibrant, bustling center where folks could live, work, shop and dine, all directly across from the beach. At the peak, units sold for $1 million or more, with most being second homes or investments.
Soon after the development sold out, the market turned south and many investors backed out or faced foreclosure. The development ended up in the hands of an investor who was able to lower prices and get them sold to folks who could make the numbers work. Life has come back to the development on the corner of Scenic 30A and Hwy 83 (Blue Mountain Road)
There are many reasons Redfish Village is a great choice when buying 30A real estate. The community combines the very best of beach living, with an idyllic natural setting on Big Redfish Lake. The units are modern and well planned.
There are just 80 condos at Redfish Village, which allows for a more intimate, peaceful environment. Units are either 2br/2ba or 3br/3ba, and many have an extra bunk bed area for additional sleeping room. While not all condos at Redfish Village offer a gulf view, they do all share the same spacious kitchen with granite counters, stainless steel appliances, walk-in closets, hardwood flooring, and a large balcony.
If you are considering buyimg a unit to rent to vacationers, condos at Redfish Village are ideal for this purpose, and you should expect to earn a pretty decent year-round revenue. Projected annual income ranges from $25,000 to $40,000, depending on unit size, management, weather conditions, and the economy.
Current merchants at Redfish Village include RE/MAX Beaches, The Village Boutique, Kaizen, The Aesthetic Clinique, 360 Blue Rentals, Tea Inc., The Appliance Guy, and Wells Fargo.
Future merchants include a compounding pharmacy, New Orleans style eatery where First Note Music Hall was located, and upstairs, there is talk of a yoga/pilates studio.
Stay tuned for more info about Redfish Village and other South Walton real estate projects.
Let us know if you have any questions or are interested in any developments in particular.
This SoWal Beaches Real Estate Report brought to you by Remax Beaches, located at Redfish Village in the heart of South Walton, specializing in real estate from Panama City Beach to Sandestin and everywhere in between.