Archives for March 2016

Spring Into April With These 9 Fun Things To Do On the Emerald Coast

Spring break is over, at least for local schools, and the beautiful weather is on its way. What better way to enjoy the month of April than to take in all that the Emerald Coast has to offer? Choose from any one of these nine events and enjoy spring while it lasts!

 

Rev-Fest Art & Music Festival 2016
KC’s Sandbar, 190 Miracle Strip Pkwy, Fort Walton Beach

Friday, April 1, 2016, Noon – 2:00 a.m.

 

Enjoy regional artists and local music with 10-plus original bands at the fourth annual Rev-Fest Art & Music Festival. Tickets are $7 in advance or $10 at the door.

Learn more.

 

Bluewater Bay Marina Cultural Arts Fest

Bluewater Bay Marine, 290 Yacht Club Drive, Niceville

Saturday, April 2, 2016; 10:00 a.m. – 6:00 p.m.

 

Enjoy the breeze from the water and the sights and sounds from local and regional artists in this coastal arts fest. You’ll find glass art, jewelry, watercolor, and much more.

Learn more.

 

St. Mary’s Spring Fling

Wednesday, April 13, 2016 – Sunday, April 17, 2016

Northwest Florida Fairgrounds, Fort Walton Beach

 

This annual carnival fundraiser gets bigger and better every year. Come on out for the rides, games, live music, and more. Armbands are $25 each.

Learn more.

 

Military Family Appreciation Day

Saturday, April 16, 2016; 11:00 a.m. – 8:00 p.m.

The Landing, Fort Walton Beach

 

Presented by the Panhandle Warrior Partnership, this is a fun-filled day for military families to relax and have some fun. As a community, we thank you for your service.

Learn more.

 

Destin Marathon

Sunday, April 17, 2016

Harborwalk Village, Destin

 

Attend as a runner or a spectator cheering everyone on, but make sure you attend this history-making marathon, built by runners for runners. The Destin Marathon is the first successfully crowdfunded marathon in history. Proceeds benefit the Navy SEAL Foundation.

Learn more.

 

Emerald Coast Volleyball Tournament

Wednesday, April 20, 2016 – Sunday, April 24, 2016

The Boardwalk, Okaloosa Island

 

Sign up to play or come on out to watch the games. The Emerald Coast Volleyball Tournament is back for another year!

Learn more.

 

Earth Day Beach Cleanup

Saturday, April 23, 2016

 

Celebrate Earth Day by helping to keep our corner of paradise clean. Volunteers are welcome in any of three locations: Beasley Park on Okaloosa Island; Henderson Beach Park in Destin; or Beach Access #3 on Santa Rosa Blvd. in Fort Walton Beach. Volunteers will receive a free t-shirt.

Learn more.

 

Emerald Coast Earthquake

Thursday, April 28, 2016 – Sunday, May 1, 2016

The Boardwalk, Okaloosa Island

 

Join thousands at Biker Bash 2016, presented by Emerald Coast Harley-Davidson. Free concerts, bike shows, plenty of food, charity poker runs, and more will be available.

Learn more.

 

Saturday in the Park

Saturday, April 30, 2016; 8:00 a.m. – 4:00 p.m.

Heritage Museum of Northwest Florida, 115 Westview Avenue, Niceville

 

Make sure to attend the 40th annual Saturday in the Park. This year’s festivities begin with the Heritage 5K Run/Walk and later in the day, enjoy re-enactments, craft demos, live entertainment, and more.

Learn more.

 

There’s so much to do along the Emerald Coast in April, you’ll never get bored. Your biggest problem may be trying to decide where to go and what to see next.

 

 

February 2016: Real Estate Sales Falter Across Emerald Coast

Following a slow January, February sales continued to falter and dip in some parts of the Emerald Coast. In January, pending sales were down, so these numbers don’t come as a complete shock. The slower real estate season combined with less inventory coming onto the market may be contributing to the slight decline in sales. In some places median prices fell, and in others, prices increased. Overall, prices have remained fairly steady over the last several months. All data is a comparison of February 2016 to February 2015.

 

               Single Family Home Sales

 

Emerald Coast

• Closed sales decreased 3.4%
• Pending sales decreased 2.8%
• Median prices increased 1.8%
• Inventory decreased 7.9%
• Months supply decreased 17.1% to 5.8 months of inventory

 

Okaloosa County

• Closed sales increased 2.5%
• Pending sales increased 0.5%
• Median prices increased 15.9%
• Inventory decreased 8.2%
• Months supply decreased 19.3% to 4.6 months of inventory

 

Walton County

• Closed sales decreased 17.5%
• Pending sales increased 6.7%
• Median prices increased 13.2%
• Inventory decreased 4.4%
• Months supply decreased 13.1% to 7.3 months of inventory

 

               Townhouse and Condo Sales

 

Emerald Coast

• Closed sales decreased 9.4%
• Pending sales decreased 3.9%
• Median prices increased 2.5%
• Inventory increased 3.4%
• Months supply decreased 6.2% to 9.1 months of inventory

 

Okaloosa County

• Closed sales decreased 16.1%
• Pending sales decreased 3.5%
• Median prices decreased 1.6%
• Inventory decreased 4%
• Months supply decreased 4.8% to 9.9 months of inventory

 

Walton County

• Closed sales decreased 12.9%
• Pending sales decreased 3%
• Median prices increased 2%
• Inventory increased 0.6%
• Months supply decreased 7.6% to 8.5 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. A healthy real estate market – where neither the buyer nor seller have an advantage – is between six and eight months. Townhouses and condos are in the upper levels with Okaloosa close to 10 months of inventory. Below six months means that inventory is scarce and can drive up prices. Above 8 months means there is too much inventory which can drive prices down.

 

Pending sales continue to falter making an increase in sales for the following month more difficult. If enough new inventory can come onto the market, it’s possible, this trend may reverse itself over the next couple of months, especially as we get closer to our spring and summer selling season.

 

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 2011 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.

Teach 20-Something to Build Credit

These days, mounting student loan debts and changing credit regulations aren’t doing young folks any favors. For them, building up credit history is a challenge, one that often puts major life expenses (like a first car) on hold. Even if your son or daughter was denied previously, there are ways they can contribute to their credit history. Here are 3 tips.

1. User Authorization: One of the easiest ways young adults can build credit is by becoming an authorized user on a parent or guardian’s existing card. Most credit card companies will include the payment history of the parent on the authorized user’s report, so this is a simple method to jump-start good credit. It’s also less troublesome to remove someone as an authorized user, rather than removing a co-signer from a new card.

2. Secured Cards: Another option would be to apply for a secure line of credit, which won’t go higher than the amount you deposit to the issuing bank. Concerned about overspending? Follow the 30% rule: charge no more than 30% of income – 10% or less is ideal. If you can get a secured card that reports to all three credit bureaus, all the better.

3. Small Installment Loans: When taking out a student loan is unavoidable, build credit and minimize potential debt damage by applying for federal loans only – these are generally safer, with fixed interest rates and more flexible repayment options than loans from privately funded lenders. Likewise, other loans with smaller installments, such as auto or personal, will help establish credit history.

Source: LA Times

Knowing When to Compromise in Your New Home Search

If you’ve been thinking about your dream home for the past six, nine, or 12 months, and you’ve made a list of exactly what you want – and don’t want – good for you! You’re ahead of the game when it comes to buying a new home. Sometimes, though, the picture of what you want doesn’t match up with the reality of the local real estate market.

 

According to Realtor.com, there are five things you can compromise on, and still find the right home for you.

 

Style

 

Think you want a bungalow? Maybe a sprawling ranch is more your style. If a home has every other amenity you want (and a few you didn’t realize you did until you saw them), buying a home that’s a villa condo or Mediterranean instead of colonial may not be a bad compromise.

 

Size

 

You’re sure you want a 2500 square foot home – until you see what a home that size does to your budget. If you have no immediate plans to grow your family, and you love everything else about a home, going for something smaller than you imagined is a good compromise to make.

 

Yard Size

 

How big is your dream yard? Instead of looking for a “large” yard, decide what you want to be able to do in it – give your dog room to run, give your kids a place to run or play, etc. – and then find a yard that can accommodate that need. You may be surprised at how many yards you wouldn’t call “large” that can do the job.

 

Garage

 

Sometimes the garage is the one thing you can’t compromise on. You need it for your rebuilt car or your tools. When it’s on the “nice to have” part of your list, it’s easier to let go of for more living space. On the other hand, looking specifically for a “man cave” or a workshop in the garage can limit your choices. If you need a garage, consider a blank slate instead of the fully equipped space that you’re dreaming of. You’ll have more options of homes, and you’ll get to set up your cave in the way that suits you best.

 

Location

 

What are your needs – an easy commute, access to shopping and fun things to do? You don’t always have to live in the downtown area of a city to have access to things you want to do. Here on the Emerald Coast, you have access to beach living all along Highway 98 and access to country living in the northern parts of three counties. You may be able to find the home of your dreams just one town over from where you thought you wanted to live.

 

Keep making your dream list for your next home purchase. It’s a great place to start and a way to narrow down some of your options. But don’t give up the great in favor of perfect – which may not be available in your budget. Know where you can compromise and where you can’t, and you’ll have an easier job of finding your dream home.

10 Tax Credits and Deductions for Homeowners

Tax time is around the corner, and April 15 will be here before you know it. When you file your taxes, keep a few deductions and credits in mind. Make sure to discuss your specific situation with a tax professional to accountant to make sure you get the credits and deductions you qualify for.

 

Tax Credits for Home Improvements

 

According to Homeselfe, there are several specific home improvements that may qualify for a tax credit of up to $500 on your tax return.

 

• New heating, air conditioning, or other HVAC system
• Added or new insulation
• Metal and asphalt roofs
• New water heater
• Windows, doors, and skylights
• Biomass stoves
• Advanced main air-circulating fans

 

Do any of these apply to you? Talk to your accountant to make sure you receive all of the credits you’re due.

 

Tax Deductions for Home Buyers

 

If you’ve been a homeowner for a while, you won’t be surprised by these. For new homeowners, take a look. You may be able to lower your taxes with these deductions:

 

• Mortgage interest: This includes your primary mortgage for the home you live in, refinanced mortgages, home equity loans, and home equity lines of credit.

 

• Discount points: If you paid discount points during your home purchase or refinance, you may be able to deduct the amount you paid.

 

• Property taxes: You may be able to deduct the amount you paid in property taxes on your federal return.

 

Homeownership is good for your family, good for the neighborhood, and great at tax time. Talk to your tax professional today to get every credit and deduction you deserve. If you’re considering buying in 2016, remember these credits and deductions for the future.

 

Sources:

 

Surprising Tax Credits for Homeowners, FloridaRealtors.org

Your Guide to 2015 U.S. Homeowner Tax Deductions and Tax Credits, TheMortgageReports.com