A year ago a waterfront pool home in the Broadwater neighborhood in St Petersburg was listed for $809,000. It wasn't large at 1,900 sq ft, but it was beautifully renovated - custom cabinetry, granite, Tuscan style. From the circular paver driveway to the private, lush pool area, this was a beauty. Nothing to do but move in. Southern exposure in the rear, a path of pavers going from the pool to the dock.
Now it's a short sale, and I noticed that it has been listed at $459,900!
What a difference a year has made.
It seems that no market has gone unaffected by this downturn! Especially Florida's!!
Ouch. Someone is really going to pick up a sweet deal. I wish I liked the west coast as much as the east coast!
Sharon - so true.
Ellie - try the west coast - you might like it!
Sharon - We have a listing in our office that was originally on the market at $825,000 and it is now under contract as a short sale for $540,000. I can relate!
I just saw an oceanfront condo in Key largo for $650,000 that sold new for $1,650,000.....it ain't pretty!!!
Jason - interesting. I thought Austin had avoided most of the downturn.
Yes - condos are having a worse time of it than homes, in most areas.
Sharon, That sounds similar to my Destin market, if not worse.... or it was overpriced at $809,000.
It was on the high side at $809,000. They bought it in 05 for $560,000 and probably put $100,000 - $150,000 into renovations. By late 07 when it went on the market, prices were already declining.
Foreclosures price lower than a normal sale.