This is a question that is asked of me almost daily regarding the real estate market in Perdido Key.
My response is this: "Yes, things are happening. Savvy buyers are buying, and the sellers who have come to terms with the market are pricing their properties properly and selling them."
This is not to say that making a change in price - even a drastic one - will immediately result in a sale, but it will most definately improve the seller's odds of being shown, which is the first step in getting it sold.
To the question, "Are there mortgages available?" the answer too is "Yes!" It is far more along the lines of the "olden days" when folks were expected to provide documentation to support both their ability and willingness to repay a debt. These days were largely forgotten over the course of a few years of intoxicatingly "easy money" made available through low or no documentation loans. But to imagine that mortages are unobtainable is completely inaccurate. The first and best thing that a prospective buyer can do should they require a loan to make a purchase, is to work with a reputable mortgage lender. The type of property that you hope to purchase should guide your selection of a mortgage company.
If you would like to purchase a condominium, or a waterfront home, then it is absolutely critical that you speak with a lending source that knows that market and has products available. Ask the question: " Does your institution currently make loans on waterfront condominium properties? If so, what special requirements might there be of the seller or of me?" Once you have been pre-qualified request a letter to that effect from the lender and use this as a bargaining tool when making an offer to purchase.
Being "prepared to close" puts a buyer in an amazingly powerful position to negotiate today. Obviously the first choice - if there is a choice - is the "CASH" buyer.
Any realtor "worth their salt", should advise a seller to think long and hard before turning down a cash offer. The volitility of the lending market, and the wariness of appraisers and underwriters make the course to even a conventional loan with low loan to value a frighteningly unpredictable.
The second best choice is an already bona fide borrowing buyer.
Get in the game guys! The price is right!
Click here is an example of an incredible buy available now on Perdido Key! http://www.guruhomevisions.com/main/virtual-tour.aspx?property=5873