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Home > Archives for March 2017

Archives for March 2017

First Impressions: Sprucing Up Driveways and Walkways

When selling your home, don’t forget that the very first thing a potential buyer will see is your driveway or walkway. Be sure to make a great first impression by ensuring these important areas of your home are up to par! Maximize “curb appeal” by keeping your front lawn mowed, and driveway and walkway clean and free of cracks. You may even want to add some colorful flowers or shrubs to attract potential buyers. 

“A well-built, well-maintained asphalt driveway adds curb appeal to your house,” explains Steve Fradianni of M&S Paving and Sealing Inc., in Danbury, Conn. “It’s the first impression of your home that people see and it should look as good as it could. Asphalt driveways are easy to keep free of snow and ice in the winter and relatively dirt-free in the summer. They are economical, durable and long lasting, and they are easy to maintain.” 

Once potential buyers leave their car to head to the front door, the walkway begins to play an important role. That’s why it’s vital to make sure both the driveway and walkway are in tip-top shape. 

Do a thorough inspection of both the driveway and walkway and repair any cracks you see. If you have the time and money, you may want to consider getting the driveway repaved as this will go a long way toward creating a positive first impression. Cracks in the walkway should be repaired with concrete paint. This can usually be done in a few hours and is a relatively inexpensive fix. 

In addition to making necessary repairs, make sure there are no toys, acorns, leaves or gardening equipment blocking someone’s path to the front door. Potential buyers shouldn’t have to maneuver through an obstacle course to reach the front door. Driveways should also be free of clutter and debris. 

Once the walkway is clear, make sure that no grass or weeds are growing in the cracks. Spend the time necessary to create a perfect walk to the entrance of your home. 

If you have garbage cans that typically sit at the end of your driveway, you should get them out of sight—even if they’re clean—before people come to look at your home. The same holds true for hoses. Take the time to put them away neatly as they could inadvertently trip someone. Old, tangled hoses may also conjure negative thoughts among prospective buyers. 

You should also be mindful of where your cars are parked. If someone comes to see your house and there are two or three cars taking up the driveway and they are forced to park on the street, you may be starting things off on the wrong foot. Move your cars to the street so that prospective buyers feel as if they are pulling into the driveway of their future home. 

For more information about upping your curb appeal, contact me today!

 

February 2017: Sales Up Ahead of Spring Selling Season

If you’ve heard that now is a good time to sell your home, you’ve heard correctly as we head into the spring selling season here along the Emerald Coast. Single family, townhouse, and condos sales were positive across the board in February when compared to the year before. Prices are increasing while inventory continues to drop. Buyers are scooping up the best properties as fast as they can.

               Single Family Home Sales

 

Emerald Coast

  • Closed sales increased 4.4%
  • Pending sales increased 11.4%
  • Median prices increased 7.7%
  • Inventory decreased 7.4%
  • Months supply decreased 15.5% to 4.9 months of inventory

 

Okaloosa County

  • Closed sales increased 3.2%
  • Pending sales increased 5.5%
  • Median prices increased 6.2%
  • Inventory decreased 16.4%
  • Months supply decreased 21.7% to 3.6 months of inventory

 

Walton County

  • Closed sales increased 9.9%
  • Pending sales increased 10.1%
  • Median prices increased 2.4%
  • Inventory increased 2.4%
  • Months supply decreased 5.5% to 6.9 months of inventory

 

 

               Townhouse and Condo Sales

 

Emerald Coast

  • Closed sales increased 42.9%
  • Pending sales increased 32.8%
  • Median prices increased 2.5%
  • Inventory decreased 14.6%
  • Months supply decreased 14.3% to 7.8 months of inventory

 

Okaloosa County

  • Closed sales increased 38.5%
  • Pending sales increased 6.1%
  • Median prices increased 13.6%
  • Inventory decreased 21.4%
  • Months supply decreased 26.3% to 7.3 months of inventory

 

Walton County

  • Closed sales increased 38.9%
  • Pending sales increased 10.8%
  • Median prices increased 8.5%
  • Inventory decreased 8.5%
  • Months decreased 3.5% to 8.2 months of inventory

 

 

A few things to remember…

 

Single family homes along the Emerald Coast are firmly in a seller’s market right now – as long as a home is priced right and staged well. Okaloosa County is seeing especially low inventory levels currently. Buyers have very little to choose from, even as new listings come on the market. A seller who prices competitively and stands out from listings that have been on the market for months should do well. Townhouses and condos have a higher inventory but it continues to shrink to healthier levels which will continue to help sales improve.

 

Pending sales were the first signs of positive movement in the current market in January as an indication of February sales. They remained higher than previous years in February. This doesn’t automatically mean that March sales will increase over last year, but it is a metric to watch.

 

An increase in median prices are tied to multiple issues: an improved economy, more lending, and the amount of inventory available. As inventory shrinks, competition for good homes increases among buyers. This can turn into multiple bids and more solid bids as buyers hope to have their offer accepted.

 

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.

Understanding Reverse Mortgages

A reverse mortgage isn’t for every homeowner, and you should never enter into one without doing some research on the process or the bank offering it. But there are also a lot of misconceptions out there about what you can and can’t do with a reverse mortgage.

 

Here are just a few things you might not realize about how reverse mortgages work.

 

You Own Your Home

 

The common thought is that the lender owns your home once the mortgage closes. In reality, you retain the title and ownership of your home during the life of the loan. You can also sell at any time. Like every other mortgage, the bank would be paid back from the proceeds of the sale. As long as you meet the loan obligations described in the terms of your mortgage, the loan will not come due. Make sure you know and understand those obligations before you close.

 

You Can Have a Mortgage When You Apply

 

Some people actually use the reverse mortgage to pay off their existing mortgage. This helps them get rid of the mortgage payment right as they might need the financial help the most. It can be a good financial strategy if you’re entering retirement or anticipate rising costs where your money can be better spent.

 

Affluent Owners Use Reverse Mortgages Too

 

Many people think of reverse mortgages as something poor homeowners need. While it can eliminate a costly payment for people, some wealthier owners are using reverse mortgages, too. In their case, it’s often part of an overall financial strategy to help grow their current wealth.

 

Your Children Can Keep Your Home

 

Many people believe that their home will be immediately taken once they die, leaving their children with nothing. That’s not automatically true. Yes, the bank can keep the home but your kids do have an option. If the loan balance is higher than the worth of the home when you die, your children will only have to pay 95 percent of the appraised value in order to keep it. It’s important that you talk to your children once you have the reverse mortgage so they know what they need to do after you die.

 

Reverse mortgages aren’t something to be done lightly, and it’s important to talk to a lender about the process and the requirements. If it’s what you need as you age to eliminate a mortgage payment, it could be the right step for you. Talk to a variety of lenders and shop around before committing to a reverse mortgage to make sure you’re armed with facts and are getting the best deal possible.

 

Source: Reverse Mortgages: Myths vs. Reality, Florida Realtors

March 2017 Events Across the Emerald Coast

Looking for something to do in March? There’s something for everyone – especially now that the weather is warming up and feeling more like spring.

 

Multi-Chamber Business Expo and Taste of Okaloosa County

Thursday, March 2; 4:00 p.m. to 7:00 p.m.

Emerald Coast Convention Center

 

The Destin and Fort Walton Beach Chambers have partnered once again to bring an amazing networking and marketing opportunity for businesses across Okaloosa County. Make contacts for your own business and learn what the area has to offer. Admission is free! Learn more.

 

Emerald Coast Autism Center’s Hole in One Golf Tournament

Friday, March 10

Blackstone Golf Course, Defuniak Springs

 

Play a round of golf and help kids with autism at the same time. The tournament begins at noon. Registration is $125. There will be raffle prizes, food, and entertainment. Learn more.

 

4th Annual Tequila and Tacos Fest

Saturday, March 11; 1:00 p.m. to 5:00 p.m.

HarborWalk Village, Destin

 

Try tequila of every flavor and from across the world while eating your weight in tacos. Best of all, spend the day in HarborWalk Village enjoying the beautiful weather, the sunshine, and the water. Tickets start at $20 for non-drinkers. Proceeds benefit the Salvation Army. Learn more.

 

11th Annual Children in Crisis Charity Golf Tournament

Friday, March 17

Fort Walton Beach Golf Club

 

Come for lunch at 11:00 a.m. and to play at noon. Registration is $100 per player or $400 per team. You’ll receive lunch, a shirt, drinks, and the chance to win awards while helping local kids. Learn more.

 

17th Annual Run with the Dogs

Saturday, March 18; 9:00 a.m.

Destin, Florida

 

Run with or without your dogs in this annual 5K race. Even if you don’t run, you’re welcome. If you bring your dog, remember they must wear their current rabies tag and be on a short leash. Also, you’ll be responsible for picking up behind them so bring those baggies. Learn more.

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