Archives for August 2016

July 2016: Sales Remain Steady for Single Family Homes Across the Emerald Coast

Across the Emerald Coast, single family home sales remained strong in July, when compared to the previous year. Sales of townhomes and condos did not fare as well, with Walton County being the exception. Median prices faltered in many categories but not be much except for single family homes in Walton County where the decrease was in the double digits.

 

Inventory continues to shrink along with the months’ supply of available units for sale. Townhomes and condos continue to stay at the high-end, even though the numbers have fallen from the year before, leaving buyers with too many options. For buyers in the single family home market, inventory is low, giving them fewer choices. This is good news for homeowners who are considering putting their home on the market. At the right price and in the right condition, a single family home can be under contract in a short amount of time.

 

               Single Family Home Sales

 

Emerald Coast

• Closed sales increased 8.5%
• Pending sales increased 8.7%
• Median prices decreased 2.7%
• Inventory decreased 8.7%
• Months supply decreased 13.4% to 5.8 months of inventory

 

 

Okaloosa County

• Closed sales increased 4.1%
• Pending sales increased 0.5%
• Median prices decreased 2.3%
• Inventory decreased 12.7%
• Months supply decreased 14.5% to 4.7 months of inventory

 

Walton County

• Closed sales increased 14.4%
• Pending sales increased 15.8%
• Median prices decreased 16.1%
• Inventory decreased 1.7%
• Months supply decreased 8.8% to 7.3 months of inventory

 

 

               Townhouse and Condo Sales

 

Emerald Coast

• Closed sales decreased 2.9%
• Pending sales increased 7.8%
• Median prices decreased 1.3%
• Inventory decreased 4.3%
• Months supply – no change, remains at 9.9 months of inventory

 

Okaloosa County

• Closed sales decreased 11.4%
• Pending sales increased 17.9%
• Median prices increased 14.6%
• Inventory decreased 18.2%
• Months supply decreased 17.1% to 9.7 months of inventory

 

Walton County

• Closed sales increased 9.5%
• Pending sales decreased 1.4%
• Median prices increased 0.7%
• Inventory increased 0.5%
• Months supply increased 14.6% to 9.4 months of inventory

 

 

A few things to remember…

 

Single family homes along the Emerald Coast are either in a seller’s market or close to it. Condos and townhomes on the Emerald Coast has a much higher inventory which gives buyers more options and can, if demand and inventory aren’t a match, sales slow down. A healthy real estate market – where neither the buyer nor seller have an advantage – is between six and eight months.

 

Pending sales are an indication of the immediate future of the real estate market – typically the next month’s sales. These numbers are not a guarantee of future sales as not all pending sales make it to the closing table, and those that do may take more than 30 days to complete.

 

It’s best to look at the data as part of an on-going trend. One month does not dictate the entire market. If you view the data collected since 2012 for the Emerald Coast, Okaloosa County, and Walton County as a whole, you can get a good feel for what’s happening in the local housing market. Overall, the market has improved greatly.

 

All sales data is from the Emerald Coast Association of Realtors® (ECAR) Multiple Listing Service (MLS) and is compiled by Florida Realtors®, the state association for Florida. The Emerald Coast statistics cover both Okaloosa and Walton counties as well as surrounding areas based on the listings entered into the MLS by ECAR MLS participants.

How to Keep Your Home Safe While You Sell It

In a perfect world everyone who views your home is a real buyer and an honest person who would never steal. Unfortunately, we don’t live in a perfect world. While the vast majority of people are law-abiding citizens and would never think to take something from a home, it only takes one thief to cause problems.

Take a look at some of the ways to keep you and your home safe while you sell it.

Put Away All Your Valuables

Valuables come in many forms: jewelry, art, antiques, crystal, furs, watches, keys, credit cards, and yes, technology like tablets, phones, iPods, and laptops. When you’re home is on the market and especially during showings, make sure all of these things are out of sight and locked up somewhere. Be especially careful with small items that can be slipped into a pocket.

Hide Your Personal Information

You might not think much about the utility bill or the junk mail/credit card offer you received in the mail. A would-be identity thief can wreak havoc on your life with one stolen piece of mail. Keep it all out of sight during showings. Don’t leave mail, bank information, social security numbers, or credit card information anywhere for someone to find it. Make sure you turn off your computer, too, in case someone decides to poke around looking for passwords or other information.

Secure Your Prescription Medication

Medication theft and prescription drug abuse are a big deal in many areas. And yes, people who view your home will look in your medicine cabinet. Either take your medication with you or lock it in a safe or other secure place until after the showing. You don’t want to be without your medication or wonder who may get their hands on it.

Never Show Your Home By Yourself

When someone knocks on your door and asks to look around, it’s tempting to let them in. After all, you want to sell your home and this person might be the perfect buyer. Don’t do it. People can claim to be anyone they want. Letting in a stranger who hasn’t been vetted by your agent to make sure they’re who they say they are can lead to a bad situation for you. When someone knocks on your door, refer them to your real estate agent instead.

We never want to think anything bad can happen to us or that people will be dishonest, but it happens. Don’t assume everyone in your home is a possible thief, but don’t leave yourself open to problems, either. Secure your possessions, keep yourself safe, and always do a check after you get home to make sure everything is as you left it. If it isn’t, contact your agent, and if necessary, the police, immediately.

9 Emerald Coast Events Coming Up in September

With tourist season filling up beaches and Highway 98 each summer and the high heat and humidity keeping most of us inside, there’s not a lot of festivals and events to attend in the dog days of summer. That all changes once September arrives. The kids are back in school, the roads are a little clearer, and there’s plenty of fun stuff to do if you’re an Emerald Coast local.

 

Make your plans now for these events coming up in September!

 

25th Greek Festival 2016

Friday, September 2 – Sunday, September 4

Emerald Coast Convention Center

 

Spend the weekend learning about Greek heritage while enjoying Greek food, music, and dancers. The Kosta Kastanis Band, beloved around the U.S. will keep your feet moving. With a special coupon, admission is free. Learn more.

 

Labor Day Celebration
Saturday, September 3 and Sunday, September 4

HarborWalk Village

 

HarborWalk Village caps off its summer celebration with a big Labor Day blowout. Enjoy music from Sauce Boss on September 3 (and his homemade gumbo, prepared while he plays!) and The Bayou Saints who give you a taste of New Orleans on September 4, plus the great fireworks HarborWalk is known for! Learn more.

 

“Jersey” – A Bruce Springsteen Tribute Band
Sunday, September 4

Mattie Kelly Cultural Arts Village

 

If you love the Boss, if you can’t get enough of the sounds of the E Street Band, then make plans to catch this Bruce Springsteen tribute band presented by the Mattie Kelly Arts Foundation. Pack a picnic and wine or grab your dinner on-site and spend a night reliving the best part of your youth. Tickets are $25 for general admission, $20 for members. Kids 12 and under are free. Learn more.

 

24th Annual Emerald Coast Car Show
Saturday, September 10

Mullet Festival Site in Niceville

 

If you can’t get enough of cool cars, antiques, or hot rods, make plans for the Emerald Coast Car Show. For those of you with your own hot rod, rebuilt classic, or other car that you’re dying to show off, this is your opportunity to let people from around the Emerald Coast admire your baby. There are 40 classes available including stock, trucks, custom, hot rod, motorcycles, and more. Early registration is $25, after that the cost is $30. Learn more.

 

Destin Chamber’s 50th Anniversary Celebration

Thursday, September 15 at 6:30 p.m.

The Henderson

 

Come celebrate 50 years of the Destin Chamber with this elegant gala featuring live entertainment from Triggerproof, a champagne toast, and more. Tickets are $120 per person or $1,100 per table. Learn more.

 

2016 Fort Walton Beach BBQ Festival

Friday, September 16 and Saturday, September 17

Fort Walton Beach Landing

 

For the fourth year in a row, enjoy BBQ, beer, and music for two days in the heart of Fort Walton Beach. Admission is free, and there will be an area for the kids to play and have fun while you eat your fill of great BBQ. Learn more.

 

Hispanic Fest 2016

Sunday, September 18

Emerald Coast Convention Center

 

Come on out to this family-friendly event celebrating all things Hispanic. You’ll experience the best of Hispanic music, dances, arts and crafts, food, and more. All proceeds benefit the 12th Annual Emerald Coast Miracle Needy Children’s Fiesta. The Hispanic Fest is presented by United for a Cause. Learn more.

 

Emerald Coast Home and Boat Show
Saturday, September 24 and Sunday, September 25

Emerald Coast Convention Center

 

Where can you go to a Health Fair, a Boat Show, and a Business Expo all at the same time? At the Emerald Coast Home and Boat Show! Admission is free, and you can enter to win $10,000 in door prizes plus other free giveaways. Learn more.

 

38th Annual Destin Seafood Festival

Friday, September 30 through Sunday, October 2

Destin Harbor

 

Back once again, the Destin Seafood Festival is a draw for locals and tourists every year with over 70,000 coming out over a three day period. Admission is free. Whether you come out for the seafood, the fishing, or just to enjoy the atmosphere, there’s something for everyone. Learn more.

4 Things to Remember as School Starts – Even if You Don’t Have Kids

At this point, the paper, backpacks, and new shoes have been purchased for the kids heading back to school this week and next. Lunch boxes still have that new smell, and all their new clothes still look fresh and clean. School starts August 10 in Walton and Okaloosa counties and August 15 in Santa Rosa County. Parents and kids everywhere are counting down the hours, although probably for very different reasons.

Even if you’re long past the stage of sending kids off to school each year, there are still a few things you’ll need to keep in mind.

Watch Out for School Zones

If the kids walking in twos and threes down the sidewalk isn’t a hint, the flashing yellow lights should be. Once school starts, slow down in school zones. Imagine if it was your child walking through the area or crossing the street. Drive as if you’re trying to protect your kid, and everyone will be safer for it.

Stop for School Buses

We’re all in a hurry to get to work and school but make sure you stop for a school bus. On a two-lane road, you should stop whether you’re driving the opposite way or if you’re behind the bus. If you’re on Highway 98 or another divided highway, and you’re headed in the same direction as the bus, stop when it stops. You don’t have to stop if you’re on the opposite side.

Pedestrians Have the Right of Way

You’re already slowing down for school zones and stopping for buses. Now it’s time to remember that pedestrians have the right of way – and kids sometimes don’t think before they cross a street. Keep your eyes open for all the extra walkers on their way to school.

Pay Attention to Crossing Guards

It’s frustrating to wait to make your turn when the light is green, but crossing guards are doing their job and getting everyone across the street safely. This is another moment to be patient and pay attention.

The first few days of school are the most hectic as everyone adjusts to new routines and the need to slow down. Give yourself extra time, ignore your phone while on the road, and keep your eyes open for students, buses, school zones, and crossing guards. If we all do that, the start of school on the Emerald Coast will be a little less stressful for everyone.

5 Myths First Time Homebuyers Believe

Buying your first home is an exciting and nerve wracking process. This is your first time making such a big financial investment. Trying to figure out what you’re supposed to do and how the process works can be daunting. It’s no wonder that a lot of first time buyers have misconceptions about buying a home.

Take a look at this list to bust a few of those myths.

Myth: You Need a 20 Percent Down Payment

The 20 percent down rule isn’t really a rule. FHA loans require 3.5 percent down. Some conventional loans let you pay as low as three or five percent. If you’re active duty or retired military, your VA loan is zero percent down.

Myth: You Need Perfect Credit to Get a Mortgage

While lenders have tightened their credit requirements since the recession, it doesn’t mean your credit has to be perfect. Your interest rate or down payment may be higher but in most cases, buyers with “okay” credit will be able to find a mortgage that works for them. FHA loans even allow borrowers with credit scores as low as 580.

Myth: The Buying Process is Too Complicated

If you decide to buy your home without the help of a Realtor, yes, it will be a very complicated process. Scheduling showings, negotiating a contract, working with home inspectors, title companies, and more – all of these things are hard work. As a buyer, working with a professional real estate agent who understands the market and listens to you will make the buying process much easier.

Myth: If It’s Not Perfect, You Shouldn’t Buy It

You should only buy a home you really want. That being said, there’s rarely such a thing as “perfection.” The best thing to do is come up with a list of must-haves and a list of things that would be nice to have. Hold out for your must haves but expect to compromise on the rest. Maybe the carpet is ugly but the layout is just right. Maybe the walls are hideous but you love the backyard. Look for the potential in each home you view.

Myth: There’s No Inventory

Listen to the national or state real estate news, and you’ll think there’s not a single home on the market. Not true. In Okaloosa County, our inventory is lower than usual but that doesn’t mean you can’t find a home to buy. That being said, homes being put up for sale can and do go quickly. If you know exactly what type of home you’re looking for, you may need to act quickly when it comes on the market.

When you’re ready to make the leap from renting to owning, the most important part of the process is finding the right person to work with. They should be willing to share information, answer your questions, and guide you through the entire process from start to finish.