Arial Dunes condos - photos - June 15 2006

I showed this to some friends in California who are looking for a beach place, and they flipped when they saw the views and the prices. They are so excited, they are getting on a plane to view properties asap for their own personal usage.

In other parts of the country you can't touch a property like this with these views. I would consider buying one if I weren't afraid of heights. :creepy:
and I am more a 30A type person. As of now, I have to tie a rope to my waist to stand on my 3rd floor deck on my house.

Do your friends need a Realtor? :lol:

I own 4 properties in Florida that I intend holding long term. Ariel Dunes was the last, a precon purchase in early 2004. I have no doubt that it will be worth a lot more in 10 years. In any case, since I will be living there, the question is moot.
As for the others, If I were to sell today at "market" I would have an annualized rate of return of over 50%..never mind in 10 years. And yes, I did include carrying costs.
I am defensive because so many posters, like yourself, that live vicariously thru' the SoWal forums, and who spend a few weeks at best in the county, hold little or no real-estate in Florida, are the biggest bears and the loudest doomsayers at large.
Enter the eye of the (real-estate) dragon first and feel the flames of the market with your money on the line and then you may be qualified to say " In order to benefit from the prices 3 years ago you need to have purchased a property then and sold it, looks like you did neither ... but you made someone money."
There is ample historical RE precedent that augurs well for us, in the future.
Just my take....

I am a builder/developer and own property on 30-a and in Atlanta so I am not sure how I could live vicariously through this board. I bought there several years ago and have had a great increase in value even if the market decreases by half. I have been visiting Destin for over 35 years and my family has owned property there since the 70's. I assure you I am not a bear on Real Estate in general, I base my entire life on it and make my living by it. I own commercial property in the Atlanta area and the value of it has doubled in 5 years, that really isn't reasonable either. I should be jumping for joy but I won't sell because I bought all this property to create cash flow. My problem is that property with investment potential is non existant in that area and that is now becoming evident to most people. The area is a vacation area with primarily rental property. Rental property should provide a reasonable return from rentals. At current prices no property will. Add to that little chance for price increases for sale or rental in the near future. The historical RE precedent says SoWal shouldn't increase in value again for years according to the averages you mention. My main issue is that I buy a piece of property to provide a return on cash. Maybe I have bought my last property that will ever do this but I doubt that. When I look at a property and it returns 1-3 percent on cash, then another buyer looks at it with 95 percent easy bank money and it returns 9 percent, that is a problem. Leveraged property should return much more because the risk of loss of your entire investment exists. Do you really feel the largest historical increase in RE value happened to coincide by chance with the lowest interest rates and highest level of debt to wealth for Americans ever? I am averse to risk from leveraging and overpaying so that has made me bearish only in the current market. The commercial market here has skyrocketed as well. With 1031 money flying around the past few years and people who will pay a premium spending it, and lenders shoveling money out (for commercial and residential), it leaves me no opportunity to buy additional properties. I think more opportunity is coming, and if I am wrong that's OK too, I'll just have less to do and can enjoy the beach more. :cool:

Here are some VIEWS from Tower I (19th floor).

There are some incredible buys in Tower I right now.

ADII closings may be closer to Spring '07.

The higher units in Tower II will have spectacular sunset views.
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Do your friends need a Realtor? :lol:

You don't look like your tar do you? I have a feeling they are gay. If so, you might want to cover the cooley better! :rolling:

I will check with him, He's a mortgage broker and he is working on a mortgage for my Mom in Vegas.

IM me your info.

Donna

You don't look like your tar do you? I have a feeling they are gay. If so, you might want to cover the cooley better! :rolling:

I will check with him, He's a mortgage broker and he is working on a mortgage for my Mom in Vegas.

IM me your info.

Donna

I don't normally wear the sumo suit when negotiating real estate, and I get along well with most all people. What people prefer to do when they are naked is none of my business. 😀

Anyone notice the Ariel Dunes I units are starting to move a little? Are people starting to realize what great buys they can get? :clap_1:

Anyone notice the Ariel Dunes I units are starting to move a little? Are people starting to realize what great buys they can get? :clap_1:

New listings have dropped from 70 per day in Walton Co down to around 40 per day. Also, during this past, week we have seen a slight up-tick in interest from prospective buyers.

Anyone notice the Ariel Dunes I units are starting to move a little? Are people starting to realize what great buys they can get? :clap_1:

Yes - we just wrote a contract on one... ;-) There are some great buys in there now....

Yes - we just wrote a contract on one... ;-) There are some great buys in there now....

This may signal the bottom for us in the "dunes".:clap_1:

This may signal the bottom for us in the "dunes".:clap_1:

:cool:

:cool:

Greater than a 40% drop from highs of a few months ago but still up 20% from precon prices.:idontno:

Anyone notice the Ariel Dunes I units are starting to move a little? Are people starting to realize what great buys they can get? :clap_1:

10 have gone under contract since last Thursday and three more are in the works. I think the word is out that it's such a great building, awesome, awesome views. And quite frankly, several of the original purchasers in that building are walking away without making a dime.

Why are you arguing with the Bears on this thread? Real estate values might come back, but the trends I saw on another thread indicate that the market is in the tank big time with no end in sight based on inventory levels. Your arguments ring hollow based on the trends I saw on the other thread.

Sure, if you bought long ago, you might still be in the money, but prices seem like they continue to fall. Who knows where prices will eventually bottom out and how long it will take to relieve all the inventory in the market. This area is not unique. Many, many areas of the country, especially second home markets, are getting hammered these days with no end in sight due to higher interest rates, etc.

And can you say "read the posted information"?
Let me just reiterate it for you....since you seem to have a penchant for dumb comments..

The 131 units for sale has now been reduced to 127 units and is out of a total of 458 units in both buildings bringing your "over 50%" down to 27%. From what I hear, this percentage is typical of preconstruction.

Also, the 240 pending include the ones that the original owners are buying.

Here is another beauty of yours..

Real estate values have historically come back after decreases but that doesn't mean you actually make any money. If this areas prices dropped say 30% and then stagnated for 10 years (as has happened before) and rebounded to the current levels you would actually lose money if you sold.

Huh? what? Can you say "purchase price?"
Current market prices are 200% and in some cases 300% higher than prices 3+ years ago..so given your perfect storm above (that is without any precedent) and considering carrying costs I would still do much better in 10 years than..bonds? did you say?

But we're not talking about all other markets and all other condos on this thread. We are talking about Ariel Dunes. And I think the "bulls" on this thread are trying to discuss amongst themselves that Ariel Dunes is looking better than it has in the last several months based on market prices and number of units pending. So why don't you keep your general bearish comments on other boards because I'm frankly tired of reading them. If you want to talk about Ariel Dunes, please do.