30a real estate news -

First Quarter Market Stats for Walton County

Karen May 13, 2014

The Florida Association of Realtors has released the “First Quarter Market Stats for Walton County” 2014 ( Jan. Feb. Mar.) sales figures and all indicators point to a continuation of a strong and healthy market rebound. Total closed sales are up 16.4% over first quarter 2013! One of the most telling statistics is the jump in the total of new listings over 2013 by 28.5% ! This increase in available inventory for sale should have a settling effect on the jump in prices we have seen over the last 18 months. Keep in mind, however, that these figures are for ALL of Walton County. The available inventory numbers for South Walton County are not nearly this high. The average sales price here is up by 11.6 percent over the same quarter last year from $489,547 to $546,433. We have watched the overall market shift more to the advantage of the sellers here after several years of favorable conditions strongly on the buyer’s side. I spoke of a “bounce” in the prices here on the beach due to the huge, historical drops in prices when the market crashed back in 2005 and that is what we have experienced lately but that should begin to moderate. A healthy market will show yearly appreciation of 4 to 6 percent. The 15 to 20 percent we have seen in the last year or so is simply unsustainable.

Other figures available show an increase in the percentage of closing price to original list price of 91.4 percent to 93.2 percent with the average days on market plummeting from 138 days down to 81 days. As we enter the second quarter of 2014, available inventory for sale in Walton County was at 1,472 active listings, up by almost 30% over same time last year ( again, this is the entire county). One of the most important pieces of advice we are sharing with potential buyers is that the days of offering 75 to 85 percent of list price when making an offer are over. These kinds of offers will no longer even get a response in the form of a counter offer. What buyers need to keep in mind, however, is that we anticipate a further climb in prices over the next year and interest rates are still at historic lows so now is a great time to “jump in” and become a homeowner here on 30A.

Selling a property in today’s market

Karen April 24, 2014

Why Selling a Property in Today’s Market can be Tricky

In a market where home inventories are low and demand is on the rise, such as the market along Highway 30A in Santa Rosa Beach, many potential sellers can get caught in the “trap” of expecting a price above what the market will bear and an unrealistic expectation of how long it will take to secure a contract to purchase. Yes, the market today is changing and is doing so to the advantage of the seller but the sudden euphoria that can take place needs to be tempered with some reality.

To begin with, most sellers are less than realistic when evaluating their own property objectively. It is not uncommon for sellers to overestimate what their property is worth and how long it is going to take to sell it. A good real estate agent will guide you toward placing a fair price on your property based on comparable sales in your area and provide you with a CMA (comparative market analysis) in doing so. Always remember that nothing will drive the success of your partnership with your agent more so than price ! Here are some things to think about as you go through the mental mechanics of determining what your property is worth:

1. What another appraiser says your property is worth never affects the value.
2. What you paid for your property never affects it’s value.
3. The amount of cash you need from the sale of your property never affects it’s value.
4. What your friends and neighbors think your property is worth never affects it’s value.

Regardless of how well or poorly the real estate market is doing, there are buyers out there ready to buy your property. Buyers never leave the market but you can certainly price yourself out of it.

The true value of your property is determined by what a buyer is ready, willing and able to pay in today’s market based on a direct comparison to what similar properties in your area have sold for within the last 6 months. The market will determine what the value of your property is. It is our job as agents to find that right price and get it sold for you!

Home Inspections When Buying a 30a Home or Condo

Karen March 29, 2014

About Home Inspections for Homes and Condos on 30a

One of the steps that is most common in the process of buying or selling a home is the home inspection. Home inspections are ordered and paid for by the buyer and are typically done within the first 2 weeks of a signed contract. In most contracts, there is a contingency placed in the terms of purchase that give the buyer the right to cancel the contract if the home inspection finds issues that cannot be easily or quickly remedied.

Home Inspections when buying a 30a home or condo. In all real estate transactions, the home inspection is one of the biggest hurdles a seller will face in order to reach a successful closing. It has been our experience that most contracts fall apart due to financing problems or the home inspection. There usually isn’t much you, as a seller, can do about financing problems but there are things you can do to make the home inspection a more positive step in the process.

The single biggest deal killer in any inspection is mold. Even the word “mold” being used in any conversation or report immediately changes the mind set of a buyer. It is critical for a homeowner to make the effort to insure that the structure being sold is free from water leaks/intrusion and any mold that may result from it. We encourage homeowners to be forthcoming about the possibility of mold and we recommend remedial action before the buyer hires their inspector. Other areas to be most concerned about would be AC/Heating units, the overall condition of the roof , any wood rot/termite damage and a look under the house when there is crawl space that will allow access. A seller, by paying for a pre-inspection inspection, is doing one of the best things they can do to ensure that the process does not get stalled out or worse and the sale falls apart. These inspections can usually be done for a few hundred dollars and while the inspector is there he/she will be happy to check electrical, plumbing, windows etc. and eliminate the worry of what the buyers inspector might find.

Homes On 30A expands

Karen March 17, 2014

Big Expansion at Homes on 30a

It’s exciting to share the news about Homes On 30a’s new office, the addition of a new partner/owner as well as 2 other top producing agents to our team. In October of last year we purchased a building on 30A in Blue Mt Beach, had it completely renovated and remodeled and are open for business. We invite all to stop by and see us at 3092 W. County Highway 30A in Blue Mt. Beach. During this new office project, we entered into a new partnership with Marianne Grant. Marianne is one of the areas most successful real estate agents and has achieved a level of career sales in excess of 550 million dollars.
Also joining our team are Linda Campbell and Carrie Campbell. Both of these agents are long time top producers here on 30a and bring a high level of energy and experience to Homes On 30a.
We are happy about the addition of Allison Anderson to our office staff. Allison is a licensed real estate agent who will be handling all office admin functions as well as assisting agents with marketing and advertising.

Sometime during the month of April,(to be announced) Homes On 30a will be hosting our grand opening party. It will be a great opportunity to see a lot of locals as well as guests that are always visiting us here on 30a.

Why Do I Need Title Insurance

Karen November 26, 2013

What do I need to Know about Title Insurance

Occasionally we get asked the question; do I really need title insurance ? The title company has conducted a search and I have a clear deed? Here are a few things to remember about title insurance. Unlike homeowners insurance that protects in the event of fire, flood, wind etc., title insurance covers events that may have occurred backwards in time prior to the date of the policy. There are many hidden risks that can cause a loss of clear title or an encumbrance on the title. Here is a quick list to think about:

1. Mortgage fraud 2. Seller has outstanding “personal” judgments 3. Forged or missing deeds, satisfactions not recorded 4. Erroneous wills, sudden appearance of missing heirs 5. Liens from unpaid estate, inheritance, income, gift or real etsate taxes 6. A prior deed being ruled as “voidable” due to incompetence, hidden bankruptcy or being a minor.

One of the most common mistakes made is the human element of courthouse employees who sometimes mis record or improperly enter information in to the public record. These things happen more often than you might think.

For people who are purchasing property here at the beach, title insurance is especially important because a lot of property here is purchased by people from all over the country. A lot of property is transferred in trust’s or estates which create complications and a heightened possibility for hidden risks.

Title insurance rates are set in the state of Florida by the State Department of Insurance so the need to “shop” these rates is not needed. The difference in rates from one title company to the next are minuscule. Your Homes On 30A real estate agent will always recommend two crucial items to people buying property here….1. Flood insurance and 2. Title Insurance.

Looking to Buy Real Estate here on 30a, then call your agents here are Homes On 30a 850.687.1064

Florida Foreclosures

Karen November 15, 2013

Florida Foreclosures Real Estate News

This news from the Florida Realtors Association: The state of Florida has “reclaimed” the title of America’s foreclosure capital last month, but it’s partly because of a positive development. Lenders are taking more homes to foreclosure. A rush of home investors has created a strong market for foreclosed homes which has encouraged lenders to move on these properties in an effort to dispose of them. Eventually this will help lenders clear out the huge backlog of homes that have been stuck in the foreclosure process as well as those properties that have already been foreclosed upon

Florida previously ranked second in the nation behind Nevada. Florida always looks bad in foreclosure rankings because foreclosures here have a longer, more complicated process as they wind their way through our court system. Most other states have a speedier, less judicial foreclosure process. There were 11,606 notice of foreclosures mailed out by lenders here during the month of October.

Even in the short term, this is good news for the real estate market here in Florida. There is no other avenue available to dispose of these distressed properties other than through the foreclosure process. NOW has always been the best time to get these done. This will also create an environment that will be attractive to many investors and investment groups looking to purchase properties at great prices.

If you are interested in finding out about out local foreclosures and the 30a real estate market then give us a call 850.687.1064