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Redfish Village - What is going on?
- Thread starter Prohibition333
- Start date
Smiling JOe
SoWal Expert
I don't think any of these units sold for $150K, ray. There were a couple of recent short sales at the $150K mark, but these started at $179K. I know of a 2bed/2ba with bunks (plan B) which closed for $299K this week. The cash sales are making way for higher appraisals and conventional loans in Redfish Village.
Patten boasted of selling 48 of their 53 units, but I think what they meant to say is that they had "contracts," not sales. My understanding is that some of those would be buyers backed out of the contracts. Not sure why, but it could be that they were not cash buyers and needed other cash buyers to close in order for appraised values to increase enough to be able to get the loans.
Redfish Village will be a great place to own or rent one day. This boost of new owners will be the fuel it needs to get the commercial units filled and active with people.
Patten boasted of selling 48 of their 53 units, but I think what they meant to say is that they had "contracts," not sales. My understanding is that some of those would be buyers backed out of the contracts. Not sure why, but it could be that they were not cash buyers and needed other cash buyers to close in order for appraised values to increase enough to be able to get the loans.
Redfish Village will be a great place to own or rent one day. This boost of new owners will be the fuel it needs to get the commercial units filled and active with people.
scooterbug44
SoWal Expert
The sense I got was that many of the Redfish buyers were people who were planning on using the units themselves, and renting them short term when they were not.
So, does that mean there aren't any units still on the market in the $150 -$179 range? I was considering a trip down to check them out, but if they're back up to $299 I think I'll pass ...
30AMichigander
Beach Comber
Another Unit Closed
We closed on our unit yesterday, looking forward to time on the beach soon! Who else has closed?
We closed on our unit yesterday, looking forward to time on the beach soon! Who else has closed?
301 michilander that must have been you i saw in the mls for the sale yesterday. asking price 300k sold for 150k as i rememeber.i assure you many of these will be rentals at 1k-1200 a week in the peak season.i don't see how any developer made money reselling these. the bank lost 10's of millions on this complex.i might bid 75k for one in the winter as the country renters a depression and the pain that was posponed re starts