Destin Real Estate News and Blog

Destin Market Summary - September 2016

Here is the latest summary of the Destin real estate scene for September 2016. This gives you a snapshot of home, condo and land sales in Destin FL and the surrounding Emerald Coast.

Total residential sales for Destin and the surrounding towns were $267,488,702 with an average sale price of $432,830. Properties averaged only 123 days on the market with a closing price of 96% of the asking price. This was a robust September market, that sold more single-family homes and townhomes then the same time in 2015. Condo sales were down slightly, but prices increased 11%.

Strong September performing areas included:

• Fort Walton Beach: 141 sales
• Navarre: 122 sales
• Destin: 85 sales
• Niceville: 79 sales

Destin Home Sales

72 single-family…

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Council Updates for Walton and Okaloosa County

Okaloosa County Updates

The Destin City Council recently established the budget for 2016-17 which includes a 7.6% increase in property taxes.

The new millage rate will be 1.615. Here are some of the areas the extra money will be used:

• Stormwater and sidewalk repairs
• A marine unit with a personal watercraft for the Okaloosa County Sheriff’s Office
• Increased law enforcement coverage for spring break

Other decisions that resulted from the latest council meeting:

• A temporary tree-cutting ban
• With the 30-year contract with Gulf Power coming to an end, the council has decided to take proposals to do a feasibility analysis for purchasing the city's electrical utility. I wonder how many thousands of dollars they'll spend before…

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Are You Ready for the 2016 Destin Fishing Rodeo?

Are you ready for one of Destin's most anxiously awaited events? Taking place during the month of October, the 68th annual Destin Fishing Rodeo is coming up fast. Almost 1 year in the planning, the committee barely gets through one rodeo, when they have to start planning for the next year. Whatever they're doing, it works. The rodeo benefits the entire community and everyone gets involved. Even if you don't fish, there is always something going on at the docks.

Fishing Rodeo Quick Facts

• Participants come from all over the U.S. several countries, and last year spent $1.4 million on hotels, food and recreation
• Charter boat registration is even higher this year
• Over 200 awards are offered, all sponsored by local businesses
• There are 19…

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Eastern Shipbuilding Secures $10.5 Billion Contract

Eastern Shipbuilding, from the Panama City area has been awarded a huge $10.5 billion contract to construct the first series of nine offshore coast guard patrol cutters. The largest contract in U.S. Cast Guard history, this local company competed against seven other shipyards who also submitted proposals.

This contract translates to about 2,000 new jobs for the people of Northwest Florida. About 800 employees will be added to Eastern Shipbuilding's payroll, with a number required later on a contract basis for design and construction. Varying craftsmen jobs, engineering and administrative roles will be required. People will probably travel from as far as Okaloosa, and Fort Walton Counties for these opportunities.

It's really great to hear about a…

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Emerald Coast Condo Price Comparison for August

Perhaps you're considering purchasing a condo on the Emerald Coast, maybe for an investment, but you're not sure where. With so many places to choose from, sometimes it's hard to know where to begin. This graph below shows the average condo sale price for August 2016 in these popular areas along the Emerald Coast. It also shows the comparable price from August of 2015, so you can see just how your investment would have fared.

Notice, real estate along 30A West and the Miramar Beach, Sandestin Resort areas showed the most gains. 30A East and Navarre, showed some depreciation. This is only for one month, we'd be happy to send you updates for sold listings, or a monthly report of the stats in desired areas.

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Home Buying Deal Breakers

We researched online and polled past clients to find out what features they would consider deal breakers while viewing a house. Keep in mind that everyone has different opinions and a deal breaker for one person might be an inconvenience for another. Still, if you're selling a home, you might find some of these points helpful.

Popular Deal Breakers

1.  Design flaws that are too costly or time consuming to change

2. Open concept houses

3. Closed floor plans

4. Two-story or split-level homes

5. Carpeting

6. Insufficient closet space

7. Old Roman-style tubs with step down

8. Not enough bathrooms

9. Kitchen peninsula (vs an island)

10. Washer/Dryer in kitchen

11. Close proximity to power lines

12. Indoor swimming pool

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Destin Guide to Fall 2016 Events

Fall is a wonderful time of year in Destin. The kids are back in school and life has begun to return to normal again. You'll see there is still plenty to do; although from the list of events below, largely dominated by craft beer festivals and the ever popular Fishing Rodeo. Please send me a message if you'd like your event listed here.

SEPTEMBER 2016

Okaloosa Island Fireworks at the Fishing Pier - September 4
Time: 9 pm

FWB BBQ Festival - September 16
5th annual festival of food, music, beer, and family fun, sponsored by Okaloosa Gas!  The festival is two days - Friday and Saturday. 
Location: The Landing, 139 Brooks St. Fort Walton Beach | Hours on Friday are from 4 to 9 pm. Saturday hours are 11 am to 4 pm.
Time: 4 pm - 9 pm
…

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Destin Real Estate Update - July 2016

This Destin real estate update for July 2016 gives you a snapshot of home, condo and land sales in Destin FL and the surrounding Emerald Coast.

When summer rolls around, rental season kicks into full gear and sellers are less willing and less negotiable to sell.  Buyers don't seem to notice too much though, as their attention turns to outdoor activities and our beautiful beaches. That being said, residential sales in the Destin area totaled $351,547,336. The average sale price was $372,008 and real estate averaged only 111 days on the market. The average seller received 95% of their asking price.

Strong July performing areas included:

• Navarre: 159 sales
• Fort Walton Beach: 149 sales
• Crestview: 112 sales
• Miramar/Sandestin: 95 sales

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WaterColor FL Real Estate Spotlight

WaterColor - A Reliable Investment

Real estate in WaterColor has consistently been a top performer along the Emerald Coast. Since the beginning of the year, 74 homes were sold for 94% of their asking price and after an average of 122 days on the market. 20 homes sold in under a month.

WaterColor remains a solid area for investment real estate, with a large percentage of properties either used as full or partial vacation rentals. Many year round residents still supplement their income by renting on site carriage houses, separate from the main residences.  

While some seek investment return, others just "Want what they Want". WaterColor is simply a beautiful place to be. The recreation facilities and amenities are superb, and you'll never miss a…

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Golf Community Checklist

Moving to a Destin Golf community? Heres a tool to help you keep track.

Buying a home can be overwhelming, to say the least. You've just spent the day touring some of Destin's finest golf communities, but they're all blending together. The Burnt Pine house overlooking the golf course had a pool, or did it? Was it the Regatta Bay listing that had no short term rentals, or the Baytowne property?

Here's a handy little tool you can use to keep track of all the Destin golf homes or condos you look at. Just fill in the name of the community, address and MLS#, the price, note some of the pros and cons and give the golf course your own star rating. Take a quick photo, and later that night when you're discussing the various homes, it will all come back to…

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