Crye-Leike Realtors Joint Marketing Alliance Brings More Than $400 Million In Pre-Construction Gulf Coast Resort Opportunities To Tennessee
NASHVILLE, TN.- Officials at Crye-Leike REALTORS announced today that their offices and associates will now offer new pre-construction opportunities available through resort developers on the Gulf Coast. “Nearly one-third of the homes sold nationally last year were to 2nd home owners.” said Harold Crye, president of Crye-Leike. “We have numerous offices within a day’s drive of the coast and many of our customers vacation and invest there. We’re expanding our services to include these premiere resort homes to better serve them,” said Crye.
Among the first pre-construction resort destination properties available are being built by Creekstone Companies. This includes Island Reserve, 299 Caribbean style resort homes in Panama City Beach, Florida and The Reserve at Pitcher Point, 420 luxury beachfront condominium homes in Long Beach, Mississippi. Developers will typically offer discounted prices during the initial stage of development to act as an incentive for buyers.
Until recently, buyers would typically have to enter a lottery in hopes of being one of the few fortunate enough to have the opportunity to reserve a resort home for as little as $5,000, then benefiting from the equity and appreciation as builders increased the prices during the various construction phases. “With seventy-six plus million baby boomers on the horizon looking to at least partial retirement, it appears that the developers are finally meeting the demand for luxury resort homes. We’re excited about giving our customers the opportunity to save and reap the benefits of buying at pre-construction prices,” said Crye.
According to the National Association of REALTORS, 2004 was a record year for 2nd homes with sales rising 16.3% from 2003 to a total of 2.82 million units. Nearly 1,300 people move to the Gulf Coast everyday, with more than 800 of those residents going to Florida, according to Florida’s Department of Environmental Quality and the U.S. Census Bureau.
Crye-Leike has forged a relationship through its Destin, Florida office with STAR Marketing Systems, the exclusive broker for Creekstone Companies, one of the nation’s leading real estate corporations. This assists the company in building and offering some of the best pre-construction opportunities on the Gulf Coast.
Crye-Leike? (www.crye-leike.com), a full service real estate company for 29 years, is the nation’s 10th largest real estate company and the largest in the Mid-South. It has a network of over 3,000 sales associates and 95 corporate and franchise offices located in 53 counties throughout a seven-state southern region in Tennessee, Alabama, Arkansas, Florida, Georgia, Kentucky and Mississippi. In 2005, the Crye-Leike organization attained sales of $5.6 billion with 34,039 closed transaction sides.