About eight years ago my husband and I purchased a preconstruction condo in the Santa Rosa beach area of Florida’s panhandle.  We had lived in Texas and spent many happy years vacationing in the Destin Beach area.  We realized that the location of this condo was a sure winner.  At its completion, units were sold out and the price skyrocketed to three times the purchase price.  One year went by, and we began to notice that the market values were slipping.  About six months after the slide began, we sold our unit for a little over twice what we paid for it, kicking ourselves for not selling when the market peaked.  We were the fortunate ones, however.  Within a few months, real estate in Florida took a nosedive!  We have friends who bought beach front property for close to one million dollars, financed it because they planned to flip it, and were stunned when the market value plummeted to the $400,000 range. This all happened around the time that Mac Brunson came to FBC Jax.

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