Destin Real Estate News and Blog - Home Buying Tips

Home Buyer Trivia

What Are the Most Important Features to Home Buyers?

These are results based on a survey of 2,500 home buyers in the U.S. conducted by the National Association of Realtors in 2007. The purpose was to determine popular home feature preferences. It gives you a bit of insight into what features people think are important in a home and the changing trends. This is handy info to know whether you're planning to buy, sell, or build.

1. Most Requested Feature in a Home

Central Air Conditioning was selected by 83% of buyers. 57% wanted a garage for two or more cars; 53% requested a walk-in closet in the master bedroom, and 50% wanted a backyard or play area.

2. The Median Size of Homes Between Late 2005 and 2007

1,840 square feet. Homes have…

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How to Get Accepted for a Mortgage

You Could be Rewarded for Good Behavior

If you're planning on a real estate purchase in the near or distant future, it might be worth taking a look at your bill-paying habits. You might be rewarded for your good behavior. When it comes to credit, are you a "transactor" or a "revolver?"

With upcoming changes to the mortgage credit report by Fannie Mae, these terms could mean the difference between getting accepted for a mortgage, or not.

A transactor is someone who pays their credit card bills in full each month, or pays on time and exceeds the minimum requirement.

A revolver is the person who only makes the minimum payment, allowing balances to constantly roll over to the next month. They may also have several accounts on the go.

This…

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Buyer's Tip: Realtors Make Great Matchmakers

Part of our service as realtors is to play matchmaker for our clients. Once we have a good idea of the type of home or condo a buyer is looking for, then we use our knowledge of the area and the local market to find the perfect match.

In the example below, a client has sent us a request with very specific parameters for a Destin harbor condo, and we've responded with some equally specific listing ideas.

Tim,

My husband and I are interested in a condo as a second home (and then primary after we retire) and preferably in the Destin Harbor area. We have vacationed to the Emerald Coast many times and so, fairly familiar with the area. Ideally, the property would fit within the following parameters:

1. $600K - $750K
2. Bedrooms: 3-4
3. …

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Buyers Tips: Ellen Degeneres Shares Her Real Estate Tips

Helpful tips for home buying doesn't always come from a realtor. Friends, relatives, or anyone who wants to share their past experiences can be helpful. Celebrity and real estate aficionado, Ellen Degeneres shares some of her tried and true tips for buying a home in the following video.

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Destiny Homes For Sale - 4751 Bonaire Cay

Take a look at this fabulous Destiny Homes for Sale.  This florida beach cottage features 5 bedrooms, a separate carriage house, and extra storage in the oversized two car garage.

Destiny is a popular beachside community in Destin and has worldclass amenities including: deeded beach access, swimming pools, fitness center, tennis courts, and walking trails.

This home is a fantastic vacation rental and grosses over $43k annually.  Visitors love the layout of the home with its spacious rooms and decks that provide everyone with their privacy.

Priced at $699,000, this Destiny Home For Sale will not last long!

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Destin Condos For Sale - Top 3 sales June '09

I get a lot of calls from people looking for a "deal".  I ask those folks to tell me what they mean but most people can't answer the question.

So if you want a deal, but can't exactly define one, I analyzed Junes sales of condos in Destin, FL on the gulf and this is what I came up with as the top 3 buys for Jun '09:

1. Grand Dunes, South Tower, Unit 550.  The specs for this unit are as follows:
2870 sf; 4br/4ba, direct gulf front, built in 2006 and sold for $975,000.  That works out to $339 per sf for a luxury gulf front condo. This was a normal sale and not a foreclosure or short sale.

2. Pelican Beach, Unit 310. The specs for this unit are as follows: 873 sf, 1br/2ba, direct gulf front, built in 1997 and sold for $237,500.  That works out to…

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Okaloosa Island Condos: Waterscape Developer Blow-out

The developer for Waterscape Condominiums has recently released several units for sale at steeply discounted liquidation prices.  Waterscape is an upscale, kid friendly, beach front, condominium located on over 490 ft of beach front on Okaloosa Island.

Waterscape is loaded with amenities including: lush tropical pool with zero entry, splash and wading pools for the kids, lazy river, fitness center, tiki bar, and much more.

The units are well-equipped with stainless steel appliances, crown molding, 9 ft. ceilings, tile, and carpet.  There are condos available in 1, 2, and 3 bedrooms. The sizes of each are:

1br:   864 square feet
2br:  1292 square feet
3br:  1490 square feet

Click the link below for a complete listing of condos available at…

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Condo Financing is Non-Existant

Demand for condos in Destin and along the Emerald Coast has picked up dramatically in the past 4 months.  This was to be expected with the precipitous decline in prices experienced in the past few years.

As a realtor, you would think I would be ecstatic. However, there's one major problem.  Fannie Mae, who provides financing for the bulk of residential properties in the country is now  refusing to finance condos.  Ok, that's not entirely true.  They will still finance condos that fit a very specific criteria.  The problem is that very few, if any, condos along the Emerald Coast of Florida, meet the criteria.  These are the same folks that Fannie Mae was literally throwing money at back in 2004 and 2005 to fund their condo purchases.  This is further…

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Emerald Coast Short Sales

I received feedback from the bank today on two short sales. 

One was a beach front condominium in Destin that I had presented an offer of $210,000 to the bank about 3 months ago.  After several frustrating weeks of little to no communication from the bank, they finally called and told me that the appraisal came in at $260k and to bring another offer.

The second communication was regarding a home for sale in Destin.  The offer had been presented at $170,000 about four months ago.  Again, after several weeks with little to no communication, the bank came back and said that the property appraised for $200,000 and to bring a better offer.

What's the point? Simply this: APPRAISALS ARE THE HOLY GRAIL FOR THE BANKS. Listing a home or presenting an offer…

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Financing Your Destin Condo or House

Time to Get Quotes from Prospective Lenders

Ok, we’ve spent countless hours discussing your needs and wants for your dream home or condo.  You have looked at dozens of listings that fit your criteria.  We have spent several days together looking at those properties.  We have researched prices, written offers, and negotiated “The Best Deal” for you. 

Now what happens?

Unfortunately, in too many instances, I see buyer’s that have worked so hard to get the best deal only to give it all up with their financing.  This is a shame considering that mortgages are the easiest component to negotiate.  How do you keep this from happening to you?  Follow a few simple rules:

1.      Get at least 3 quotes.  Every person has a “financial” profile.  This…

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