In 2009 we had an increase of 309% for short sales and foreclosures sold according to the Emerald Coast MLS and our year end market analysis. With moratoriums on foreclosures ending in 2010, we expect to see dramatic increases in distressed property including short sales and foreclosures. All market segments have been affected by the real estate market crash and along Scenic 30-A there were some very expensive homes sold as distressed properties in 2009.
Most Expensive Short Sales and Foreclosures in South Walton
#1 Most Expensive Distressed Home Sold in South Walton Beach – 52 S Founders Lane in WaterSound Beach
One of the most exquisite homes in WaterSound Beach. This 5,000sf home was designed by Dungan-Nequette Architects and centers around an exceptionally beautiful heated salt water pool, surrounded by an antique French stone courtyard with dining area. True, rough-hewn cedar shakes clad its exterior walls and roof. Custom cabinetry, eight-inch whitewashed Pine on all of the walls along with four-inch whitewashed pine on the ceilings throughout the house are just a few of the amazing details inside this home. Originally offered for $6.7million in 2007 this WaterSound Beach home was sold for a steal at $2.4 million in September 2009 as a short sale.
#2 Most Expensive Distressed Home Sold in South Walton Beach – 274 Cove Hollow in WaterColor
This amazing 4,601sf home with a Carriage house in WaterColor has breathtaking views of Western Lake and views of the gulf from the over-sized porches.This rare lakefront home resides in the highly sought after Cerulean Landing district in WaterColor. WaterColor homes have been hot properties for 2009 and this waterfront property with gulf views was one of the best deals to be had in WaterColor for 2009. This home in WaterColor sold for $1,810,000 in April of 2009 as a short sale. $393/sf for waterfront in WaterColor!
#3 Most Expensive Distressed Home Sold in South Walton Beach – 286 Blue Mountain Beach in Santa Rosa Beach
This magnificent gulf front estate in Blue Mountain Beach was an extreme distressed short sale. At 4,711sf this gulf front home was sold for $1,800,000 in February 2009 for $382/sf! A price that we will never see again for a gulf front home and a home of this quality. With gross rental income of $120K in 2008 this home is truly one of the BEST distressed deals for 2009!
Team Baranowski is the leader in negotiating Short Sales along the emerald coast. We had a 100% success rate with Short Sales in 2009!
If you are a troubled homeowner, or have a family member or friend facing foreclosure, please give us a call for a confidential consultation about the possibility of a short sale. Call Craig Baranowski at 850.259.1788 or email us @ firstname.lastname@example.org.