With only 82 luxury residences on 23 pristine acres this naturally secluded community is enveloped in the glorious water-front wonders of an indigenous nature sanctuary! Bordering a rare brackish water coast dune lake and preserve – outdoor enthusiasts can fish, canoe, or kayak in peaceful serenity. To the east is the lushly forested Bannerman Estates and due south you’ll enjoy 650 feet of Gulf of Mexico beach frontage with deep sand dunes, mesmerizing sugar fine quartz sand and glistening emerald green waters.

Within the community you’ll marvel at the quality amenities including two separate tropical “Oasis” pool areas with a total of three large swimming pools enlivened with elegantly spouting water fountains and soothing waterfalls, 21 pool-side cabanas, large outdoor hot tubs, community fire pits, and pool-side community Viking BBQ grills! The four story Amenity Center at the Gulf-front zero-entry swimming pool features a fully appointed state-of-the-art fitness room, beautifully furnished Owner’s Lounge with gourmet kitchen, full surround sound movie theater, high-tech flat screen video arcade, and a vintage virtual golf simulator!

The spacious residences here begin with three bedrooms at 2,244 square feet in size and four bedrooms (some with a media room) up to 7,475 square feet in size with numerous unique floor plans to choose from! You’ll become accustomed to the finest interior appointments including 10’ ceilings, 7” crown moulding, travertine tile floors, gas fireplaces , 3cm beveled granite counter tops, large kitchen islands, Viking Professional appliances featuring multi-use double oven ranges, wall mounted pot fillers, ice makers and wine coolers, and custom birch wood kitchen cabinetry!

For brand new developer residences starting below $250 price-per-square-foot is simply unprecedented for such a quality, comprehensive, dual waterfront condominium package on the Emerald Coast! This is truly a Sanctuary by the Sea, and the moment you become an owner – your beach home becomes your sanctuary!

Eddie Krasauskas

Realtor, LMC

95 Laura Hamilton Blvd., Santa Rosa Beach, Florida 32459

800-889-4853 Toll Free   ~   850-855-9378 Mobile

ekrasauskas@resortquest.com

The 2nd quarter of 2010 started out with continued brisk market activity.  During April and May of 2010 there were 76 closings on gulf front condominiums.  During this same period of 2009 there were 64.  As     fear of the oil spill began to build, market activity began to wane.  In June of 2010 there were only 15 closings as compared to 44 closings in June of 2009.  This represented the slowest month in market activity since January of 2009.

At the end of the first quarter of 2010 there were 918 gulf front condos on the market, and at the end of the second quarter there were 982.  This ended a 12 month streak of decreasing inventory.  Using this data we can determine the absorption rate to be 65.46 months, which is the highest since April of 2009.  To put the effects of the oil spill into perspective, the absorption rate at the end of May 2010 was 21.20 months, which was the lowest since March 2008.

As buyers continue to take a “wait and see” approach, sellers continue to become more negotiable.  In April and May of 2010 the average price was $317 per square foot.  In June the price dropped to $279 per foot, which was the lowest since November of 2002.

Even though the oil spill has had minimal environmental impact on the Destin area, the effects on the real estate market have been dramatic.  With the recent success of capping the well and the relief wells ahead of schedule, my optimistic attitude leads me to believe that the 3rd quarter market will start to show signs of recovery. Many buyers with closings scheduled for May and June of 2010 asked and were granted extensions to access the impact of the oil spill.  Over the next few months we should start to see some of these closings.    Also, with prices at an 8 year low and the risk of major environmental impact of the oil spill dropping day by day, buyers who have been sitting on the fence will start to renew their interest and consider taking advantage of the tremendous deals currently on the market.

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