Archives for September 2016

August 2016: Residential Sales Strong Across the Emerald Coast

Single family home sales across the Emerald Coast were strong in August compared to August 2015. Walton County saw a double digit increase year over year, although pending sales dropped by double digits. Okaloosa County increases were more modest but with big gains in pending sales, it will be interesting to see what happens in September.

Condo and townhouse sales were mostly strong with nearly 30 percent increases over last year across the Emerald Coast as a whole and in Okaloosa County. Walton County sales dropped just under six percent in August, and pending sales fell more than 30 percent over last year. Across the board, median prices were up, and in most cases, inventory was down.

Single Family Home Sales

Emerald Coast

Closed sales increased 11.1%
Pending sales increased 11%
Median prices increased 6.3%
Inventory decreased 10.1%
Months supply decreased 15.2% to 5.6 months of inventory

Okaloosa County

Closed sales increased 5.4%
Pending sales increased 27.6%
Median prices increased 15.6%
Inventory decreased 18.1%
Months supply decreased 18.5% to 4.4 months of inventory

Walton County

Closed sales increased 15.6%
Pending sales decreased 10.4%
Median prices increased 11%
Inventory decreased 1%
Months supply decreased 8.9% to 7.2 months of inventory

Townhouse and Condo Sales

Emerald Coast

Closed sales increased 26.8%
Pending sales decreased 16.6%
Median prices increased 11.1%
Inventory decreased 5.7%
Months supply decreased 4% to 9.5 months of inventory

Okaloosa County

Closed sales increased 29.6%
Pending sales decreased 25%
Median prices increased 33.3%
Inventory decreased 21.2%
Months supply decreased 20.9% to 9.1 months of inventory

Walton County

Closed sales decreased 5.8%
Pending sales decreased 32.2%
Median prices increased 17.3%
Inventory increased 3.5%
Months supply increased 18.5% to 9.6 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 have a much higher inventory which gives buyers more options and can, if demand and inventory aren’t a match, slow down sales. 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.

5 Things You Shouldn’t Do Around Your Home

It’s easy to fall into habits around the house, trying to do what’s quickest and most convenient. Of course, with our busy lives of work, kids, family, and friends, some things slip our minds. Your home is one of the biggest financial investments you’ll ever make. Whether you intend to live in your house for 30 years or you want to sell it in the next two or three, you need to take care of it so it retains its value and is a place you’re proud to call home.

Take a look at these very common things most of us do around our home that we shouldn’t do at all.

Overloading the Closet Rods

The idea of going through all the old clothes and getting rid of what we don’t wear anymore – and never will again – is overwhelming. Instead, we buy more hangers and stuff our closets to the bursting point. We run the risk of bending the rod to the breaking point and ripping the hardware out of the wall, ruining the drywall.

After you get rid of the extra clothes, especially the things you haven’t worn in 20 years, make sure your closet rod is supported with extra braces. The rod itself should be steel and the supports should be metal. This is a sturdier option. If you can’t make yourself throw away that old high school shirt, at least you won’t break the rod or ruin your wall.

Forgetting Your Gutters

It’s easy to forget your gutters exist. Unfortunately, if you don’t maintain clean gutters, especially after big rain storms, you run the risk of water pouring down the side of your home and finding the cracks and crevices in your foundation.

Check your gutters for debris and leaves after major weather events and at the end of each season, not just summer and winter. If you have shade trees or pine trees around your home, you’ll want to clean your gutters out more frequently.

Using Bleach Tablets in Your Toilet Tank

Those little blue tablets that promise to keep your toilet looking clean and smelling fresh are a cheap and easy way to save a little time and effort. Unfortunately, when you use them in your tank, the flapper valve and other plastic and rubber parts in your toilet wear out quicker.

Instead of using tablets in the tank, find the kind that sit in the toilet bowl and clean with each flush. You may still have to take the scrub brush to the bowl from time to time, but at least you don’t have to worry about not being able to flush the toilet.

Cleaning White Grout with Vinegar

Vinegar is a great way to remove odors and clean your house without using chemicals that are bad for the environment. That doesn’t mean vinegar is good for everything. If you have white grout, especially in your bathrooms, that you are determined to keep clean, your toothbrush and vinegar habit doesn’t help. Over time the white grout, made with sand and cement, can become yellow and crumbly due to the acidity of the vinegar.

Try an alkaline or an oxygen-bleach cleaner for your white grout lines. The toothbrush (and getting on your knees to scrub the grout lines) is optional.

Covering Rust Spots with Paint

Painting over rust spots isn’t a bad idea, but most people think they can spray a coat or two of paint and the rust will be gone forever. Not quite. It’s a temporary fix at best. The rust will seep through before you know it.

If you want to make your old rusty chair or table look new again, you have to add a few steps to the process. First, scrape off excess rust or peeling paint from the area. Next, lightly sand the rust spots. Then use a rust primer and then apply your paint. Make sure you buy paint that’s meant to cover metal.

Curious about what else you probably shouldn’t do around your home? Take a look at these 25 bad homeowner habits you need to break, according to This Old House.

How Realtors Keep Everyone, Including Themselves, Safe

You might not know it but September is Realtor® Safety Month. Because of headlines like this one, real estate agents across the country have to think about safety all the time, whether we’re working with buyers or sellers. But it’s not just ourselves we think of, we’re also thinking of you, our customers and clients.

Don’t be surprised if your Realtor® does any of these things when you’re working with them. It’s all done to keep everyone healthy and whole through the buying and selling process.

We’ll Meet in the Office First

Many real estate companies require that new customers and clients come to the office first to fill out a Prospect Identification Form. We may ask to make a copy of your driver’s license as well. Unfortunately, there are people who pose as a buyer or seller in order to get into a home or attack an agent. This weeds the predators out from the genuine customers and clients.

Let’s Take Separate Cars

It’s not just convenient for all of us if we happen to take separate cars on the first day of showing. It’s a safety measure, too. You can get away from the agent if you think there’s a problem, and we keep ourselves protected.

We Only Show Homes in Daylight

Seeing homes during the day is practical for buyers. When it’s dark outside, you can’t get a good look at the property. Thieves and attackers take advantage of dark corners and darker rooms. Refusing to show property after dark keeps homes and people safer.

Don’t Show Your Home Without Us

It’s tempting to let someone who rings your doorbell see your home when it’s for sale. Don’t do it. Let them know to call your agent – or their own – to set an appointment. This way we can vet this person to make sure they’re a legitimate buyer instead of a thief.

We Want You to Double Check Behind Us

After your home is shown, the real estate agent should always check all the doors and windows to make sure they’re locked. Even so, as soon as you get home, check behind us. If you see something suspicious, call your agent and, if necessary, call the police.

We’ll Advise You to Hide Your Personal Information

If you’re selling your home, we’re going to tell you to put away anything personal. This isn’t just so buyers can envision themselves in the house. It’s also to protect your information from would-be predators and thieves.

If you’ve known your Realtor® for years and you’ve bought and sold many houses with them, you may not go through some of this. For those of you who are meeting your real estate agent for the first time, be patient with us. Don’t be surprised if we take precautions when we first meet. We’re trying to protect everyone.

5 Facts about Labor Day You Might Not Know

Labor Day is here again. Time to hit the beach one last time, if you’re visiting the Emerald Coast. Those of us who live here will be out on the sugar sand and beautiful water for several more weeks.

It’s also time to take advantage of sales, barbeques, and an extra day off from work. You may have heard the “rule” that you can’t wear white after Labor Day, although most people ignore that these days. The tradition is older than Labor Day itself because white was rarely worn after summer. Once Labor Day was made an official holiday, it became the “official” end of summer for many.

Take a look at a few other things about Labor Day, you might not have known.

The U.S. Labor Day holiday was inspired by Labour Day in Canada which began in 1872 in Toronto.
The first Labor Day was celebrated on Tuesday, SEptember 5, 1882 when 10,000 workers in New York City marched from City Hall to 42nd Street. They met up with their families and had a picnic, listened to speeches, and enjoyed a concern.
Labor Day was recognized as a federal holiday in 1894 and was set to fall on the first Monday of September.
Labor Day originally began as part of the labor union movement to recognize the contributions of people in the workforce.
In the 19th century, Americans worked 12 hour days. The Adamson Act, passed on September 3, 1916, established the eight-hour work day.

While you’re enjoying the beach or the shops and thankful for an extra day off from work, remember that Labor Day is more than the unofficial end to summer. It’s a day for everyone who works!