The Real Deal: A real estate market that's for the birds

Savvy snowbirds are again flocking to Destin for the winter and many of them are now buying instead of renting. To find out why, I interviewed a couple that bought a condo from me back in December. Here is that interview with Fred and Suzy Snowflake from Frigid Falls, Minnesota:

Jack: Thank you Fred and Suzy for taking time to help me understand why snowbirds love Destin so much and why you decided to buy a condo.

Suzy: We had been renting here for several years, watching the purchase prices go down, level out and now start back up again. We just felt that the time was right. The rental rates are going up too. We couldn't lock in a good rental rate for future years but we could lock in a favorable purchase price and a record-low interest rate. That will save us a lot of money for many years to come.

Fred: We save in many other ways too. The price of heating oil has more than doubled in the last two years. It could get even worse if the Keystone Pipeline doesn't get built. We could shutter our house in Frigid Falls and rent here for what it would cost to stay and heat our house up there. Buying here is even better.

Suzy: The shopping is better here too. There are some real off-season bargains at the outlet mall and the other upscale new shopping centers.

Fred: Yeah, sometimes I think she tries to make up for what we save by going shopping more often. But that's OK. It keeps her happy. Keeping her happy keeps me happy.

Jack: Did you ever consider going farther south where it is a little bit warmer?

Fred:  No, that's what my brother, Sammy Snowflake did. It doesn't make sense. Mama always said that I was the smarter Snowflake son and that Sammy was kind of flaky, if you get my drift — no pun intended.

Jack: Why do you like it here better than in south Florida?

Suzy: Well, we could stay here for three months while Fred's brother and his wife were paying more for just one month down there. We take advantage of the off-season snowbird specials on dining, golf, entertainment and other activities. They pay a premium price for everything because they hit it in the high season. We stay longer, get more and pay less.

Jack: I get what you say about the economics and the quantity. But what about the quality?

Suzy: We love the quality of life in Destin, especially the people. It's seems ironic that north Florida is where you find real southern hospitality.

Fred: There is a huge advantage for snowbirds who choose to rent their condos. We will rent it out at the high spring and summer rental rates and block it for ourselves when the rates are lowest. Now that we own, we will be staying for four or five months rather than two or three.

Jack: Are there any other advantages to staying longer?

Suzy: Absolutely. The Snowflake family is very prolific. There are a lot of Snowflakes in Frigid Falls. One of our concerns was being away from our kids and grand-kids for months at a time. Now they can come down and visit with us during their work and school breaks. They love it!

Jack: Anything else you want to say?

Fred: We could go on and on about why we love Destin so much. But we have a tee time in less than an hour — got a good deal on the green fees and cart. Do you want to join us?

Jack: I wish I could but I have to work. Thank you again for the interview. Drinks are on me at the nineteenth hole.

Jack Simpson is a Destin resident, former real estate broker and regular Log contributor.