Beautiful sunset at WaterColor on 30A
WaterColor Listings
Homes | Condos | Lots and Land |
Getting Your 30a Home Ready to Sell in the Spring
Listing Your 30a Home in the Spring?
Now is the time to start getting your 30a home ready to sell in the Spring, so let’s talk strategy. Spring Break kicks off here along Hwy 30a around March 1st so now is the time to start thinking about what you can do to prepare the home to show the best. I encourage having the home ready for the local market no later than the second week in February so professional photos can be taken and the marketing campaign can begin.
First impressions are the most important thing so if your home needs to be pressure washed or the landscaping needs to be spruced up then take the time to have it done prior to listing the home. Upon entering your home, you want the home to smell fresh and inviting so a good deep clean should be completed. Decluttering your home is not a big expense and can make a big difference in making the home feel larger and more open. Some other simple solutions for a fresh clean look might be using white bedding, white slip covers and brightening up any dark areas of the home.
Most buyers will find your home first online so great photos and a well written description pointing out any special features of the home are very important. Most people searching for homes will look in this order: 1) price 2) pictures 3) written description. Pricing the home correctly is the most important part of selling the home and it doesn’t take long to know if you have succeeded at this. With our low inventory levels, If you don’t get decent showing requests within the first 10 days then the price is too high!!
Here at Homes on 30a, we offer the latest and most unique marketing techniques available so before you list give us a call.
Second Home Financing on Hwy 30a
Learn About Second Home Financing on hwy 30a
Second Home Financing – What to expect:
When buying a second home prepare ahead of time.
Down payment – Varies based on the sales price
As the purchase price increases, so does the down payment requirement.
Call your lender to review before your search begins.
You must not have over 4 financed properties to qualify for a second home.
Paperwork for Second home:
Supply your lender all of your data ahead of time before the search begins
A Checklist of typical items for Second Home Financing:
1) 2 years tax returns business and personal to include all K-1s- all pages
2) 2 months Bank statements – all pages
-(Bank Statements should show Name of Customer, Account number and Name of Bank)
3) Large deposits not identified will need to be reviewed and verified – anything over 25% of your monthly income
4) Down payment funds- show proof of liquidation of funds
-(If depositing into another account, show proof of your funds deposited and proof of your new balance in the transferred account)
-(If Business Funds are used, Your CPA will need to provide a letter stating that the use of Business funds will not detrimentally affect the business)
5) 2 years of W-2’s
6) 1 months of paystubs
7) Contact name and number for Verification of Employment
Upfront discussions with me, will prepare you for what is needed. Make the call ahead of time. Prepare so the day you sign your contract, you only need to supply the contract and we order the appraisal.
Jean Jackson Crews, AVP
Senior Mortgage Loan Officer
NMLS #595305
Branch Banking and Trust – BB&T
office (850) 460-3080
fax (850) 269-4240
cell (850) 865-5326
RATES ARE AT AN ALL TIME LOW – CALL YOUR LOCAL PROFESSIONALS COVERING THE EMERALD COAST
WWW.BBT.COM/JJCREWS – online application
DESTIN LOCATION:
34990 Emerald Coast Parkway
2nd Floor
Destin, FL 32541
Shellie Stephens
Jr. Mortgage Loan Officer
NMLS #1035624
office (850) 269-4246
30A LOCATION AT REDFISH VILLAGE – COMING SOON
Best Investment Opportunities in Watercolor Real Estate
Looking to Invest in the Watercolor Real Estate market?
The Watercolor Real Estate market continues to be one of the strongest along Hwy 30a in South Walton as we end 2013 and head into a new year. As the real estate market continues to rebound in both price and activity, we are seeing the planned communities that are rich in amenities leading the way. Inventory levels have dropped almost 50% in Watercolor over the past 2 years making it a sellers market, however there are still a few ” hidden gems”. With only 7 homes available under $1 Million dollars, it is apparent that demand has driven inventories down and , subsequently, prices in Watercolor are on the rise.
Over the past 2 years, we have seen available lots in Watercolor almost completely disappear. As of the date of this post, there are only 6 lots listed for sale in Watercolor at prices significantly higher than 2 years ago when there were almost 60 lots available from $275,000.00 and up. The largest percentage of recent purchases here in Watercolor have been by builders buying lots for new home construction.
We are experiencing a spike in the new construction of “spec” homes being built in Watercolor. This is a huge indication of the real estate market becoming healthy and robust once again especially in the upscale planned development communities such as Watercolor. Many of these “spec” homes are going under contract even before being completion!
I mentioned that there were some “hidden gems” to be found in Watercolor despite the market increase in prices. The combination of savvy investors/buyers and a really knowledgeable real estate agent creates opportunity to purchase a property at a good price that might need some updating/renovation that will create new value and therefore make it a good investment. I have always found it interesting that people are quicker to purchase property in a declining market where market value continues to decline after a purchase than they are to purchase property in a healthy market where prices are on the increase. Working with an agent that has a proven record of top sales in Watercolor and who has the “insider knowledge” that comes with this level of accomplishment creates an opportunity to make a smart purchase that will payoff in the future. An agent who has knowledge of properties available for purchase that are not “on the market” is an invaluable resource in today’s market. Call me today and ask me to give you an “insider’s take” on what’s going on in Watercolor or you can search available Watercolor Real Estate through the links below
View ALL WaterColor Real Estate for Sale
Watercolor Real Estate for Sale Under $800,000
Watercolor Real Estate for Sale from $800k to $1.5 Million
Watercolor Real Estate for Sale Over $1.5 Million
View Watercolor Lots and Land for Sale
View Watercolor Real Estate for Sale by Map
Help with Purchasing Investment Properties on Hwy 30a
Purchasing 30a Investment Property
Purchasing and owning real estate investment properties along Hwy 30a in South Walton County isn’t as complicated as you might think, however it is critical that you find an agent with a vast knowledge of the local market and understands how to determine cost of ownership, rental income and net income .. Most investors are looking for around an 8% return or around 5% if there is some appreciation in value which we are beginning to see once again. Gone are the days when buyers could find “steal deals” due to the collapse in prices here but opportunities are everywhere today because prices are on the rise. Buying property at distressed prices in a declining market meant your purchase would be worth less over time but today that same purchase is now going to be worth more and investment purchases are on the rise as well !
Homes On 30A prepares pro forma operating projections for any residential property that qualifies as a rental property. We can give you a close estimate of your operating expenses, have one of the rental management companies that we work closely with, give you an estimate of what gross rental income to expect, include principal and interest payments if a mortgage is involved and arrive at a solid estimation of what you can expect as a return on your investment. This service also allows potential buyers to pinpoint their price point which is critical in determining what to look for.
Other considerations that your Homes On 30A agent will assist you with is your homeowners insurance coverage. When purchasing a second home or condominium, there are rules and regulations that insurance carriers will require depending on the use of the property. Rates for coverage will vary for buyers who are interested in placing the property in a vacation rental pool vs personal use or both. Purchasing a property under an LLC is another consideration. Lenders will also have requirements as well as rates depending on how you intend to use the property.
Once your completed income/expense projections have been made, we recommend that you check with your CPA or whoever handles your taxes and that they have all the information required to guide you in your purchase from a tax standpoint. As always, we are available to answer any questions you might have and will work with any financial advisors you might have.
In summary, a good “rule of thumb” to remember is that if you are planning on financing most of the amount of your purchase, your rental income will cover all of your operating expenses, property taxes and insurance as well as some of your mortgage payment but not all of it. The only investments that will “cash flow” on their own are all cash purchases. Having all of the information that we are willing and able to provide you will make your decision the right one for you.
Contact one of our 30a real estate specialists today.
Economic news for 2014 on 30A
2014 is almost here and the 30a real estate market should remain strong
Remember that the Federal reserve has been purchasing $85 billion in Bonds and Treasuries each month to stimulate the economy and specifically the housing market. Last week the Fed announced that it will begin tapering its Bond purchase program by $10 billion per month. The Bonds that the fed have been purchasing are the type that home loan rates are based on.
Chairman Bernanke noted that the tapering process will continue depending on future economic trends. This process will have a big impact on mortgage Bonds and home loan interest rates as we head in to 2014.
Housing starts for November soared by 22.7% from October to 1.09 million annually. This was the largest increase since January of 1990 !!! We have certainly seen lot sales take off here on 30A with home builders accounting for a huge percentage of the lot purchases. If you are a potential buyer in our market and are thinking about buying one of the many “spec” houses tha`t are currently being built, you are wise to have your Homes On 30A agent go over the pitfalls to be careful of when purchasing a house that is not yet completed. Overall, the housing market continues to show improvement and this is a contributing factor in the Fed’s decision to begin tapering its Bond purchases.
Contact a 30a real estate specialist today for the current market trends.