Rosemary Beach - Sales History

We are going to focus on Rosemary Beach sales over the next couple of posts. We all know prices have fallen and I wanted to take a real look at how much. Take a look at the following graph. This graph represents single family home sales in Rosemary Beach since 1999. It is categorized according to proximity to 30A - north or south. This graph includes gulf front property. A future post will separate out gulf front from non-gulf front, south of 30A. (click on graph for larger image)

It should be noted that the 2009 sales are ytd and will change with subsequent sales. It should also be noted that the only single family sales in 2009 in Rosemary have been short sales, one on the north side and one on the south side. This chart would seem to indicate that as of May, 2009, prices on single family homes in Rosemary Beach, south of 30A, have fallen back to 2001 levels. North of 30A homes have fallen to 2003-2004 levels.

Foreclosures and Short Sales

Our area has not been immune to the increase in foreclosures and short sales. Click here for a list of properties that have been foreclosed and are bank owned: Foreclosures

This is a list of properties in Watercolor and Watersound that are currently short sales (being offered at less than the mortgage(s) on the property and subject to the bank(s) approving the sale) Watercolor and Watersound Short Sales

And here are short sales in Rosemary Beach: Rosemary Beach

Give us a shout if you want more information!

Property is moving in 2009

View the latest sales stats for South Walton County, FL (south of Hwy 98): http://ecarmls.com/EmeraldReports/listings.asp?ID=0616845141

These are contingent, pending and sold properties since January 1, 2009.

Of the sold properties, the average difference between asking and sold price is around -21%. Buyers are getting big discounts right now.

The large amount of contingent sales is due primarily to short sales and foreclosed properties. Short sales and foreclosures are happening in most every neighborhood: Watercolor, Watersound, Rosemary Beach and many other areas along 30A. There are many opportunities for buyers to get into our market at almost 2002 prices.

There are great opportunities for the first time home buyer as well. The tax credit of up to $8000. for those buyers goes a long way in helping with the down payment and closing costs.

If you are ready to invest in a first home, second home or investment/rental property please call Kitty Taylor @ 850-585-5334 or Miriam Dillon @ 850-830-4753 for more information.

New International Airport Still Ahead of Schedule

Jason Koertge of www.pcbdaily.com is doing a fantastic job of keeping up with the construction status of the New International Airport. The main runway is completely paved! Take a look at his most recent video clip:


January Airport Construction Update from Jason Koertge on Vimeo.

What Home Buyers Want

According to Mark Nash, real estate broker, syndicated columnist and author of 1001 Tips for Buying and Selling a Home

What's In

• Home buyers. Buyers rule and they know it. With swelling inventories in the housing market, they are looking for newly updated kitchens and baths, pristine condition and a perception of value.


• Destination bathrooms. The master bath has evolved into the home getaway with multiple task areas: freestanding bathtubs, multiple flat screen TVs and wireless Internet. If the bathroom is outfitted for serving bars, wine coolers, espresso machines, all the better.


• Short Sales. Home owners who are overextended financially are increasingly looking to their mortgage holders to accept less than is owed on their property. Some mortgagees will will accept less than is owed through a short sale instead of foreclosing.


• Pet showers. Dedicated dog showers are an emerging trend. Common dog showers feature a 3'x3' shower base, surrounded by ceramic tile. Pet showers are all about convenience: Fido can step in, eliminating the master's need to lift.


• Home elevators. the boomers want their vertical palaces with elegant mini-elevators.


• Outdoor living spaces that look interior. Massive, soaring "statement" fireplaces of cut stone, heated (think bathroom floors) flooring and walkways, entertaining-sized custom kitchens and indoor-looking artwork, fabric, and finishes that can stand up to the elements.


• Down payments. Sexy home mortgages are out. Those who underwrite home loans are looking for substance from potential home buyers. Substance equates into disciplined savings and credit scores.


• A home's carbon footprint. Manufactured homes, reused construction materials and energy-friendly mechanical systems and appliances all reduce the need for fossil fuels. Home buys are asking about how their potential new home can save the planet.


• Monitoring and controlling with hand-held devices. The latest technology lets hand-held devices open or close the blinds, turn lights on or off, or let Fido out the electronic pet door.


• Floating homes. From Louisiana to Vancouver, floating homes are at the top of the must-have lists for those looking for a lifestyle-oriented primary home.


• Concealed appliances. Buyers bypass matching cabinet panels that are used to disguise the ubiquitous refrigerator and dishwasher. Hinged and pocket doors are the latest way to integrate visually those boxy necessities and make the kitchen more non-traditional and less functional-looking.


• Non-smoking homeowner associations. Who knew that some homeowner associations are rewriting by-laws and declarations to include...smoke-free common areas and building-code-required ventilation systems.


• Off-grid homes. Solar panels, windmills and inverters are here to stay in a big way. Even being partially off-grid beats getting expensive power from coal-fired utilities to these Eco-energy users.

What's out

• Unrealistic home sellers. These relics of another time and market missed the cocktail party chat. Cautions included pricing their homes right, considering home-sale contingencies, and offering cosing-cost givebacks. If sellers were flexible with buyer's needs, buyers bought.


• Living rooms. The great room has replaced the living room in American residential culture. Informal lifestyles with combined eating, cooking and living spaces let family members and visiting friend congregate for various activities makes much more sense to buyers than the forced museum.


• Double-digit home-value appreciation. For now, the home as get-rich-quick investment is over. We're back to the pre-boom norm of housing as shelter.


• "Order-taking" real estate agents. The hive during the boom years was real estate, and multitudes of the dot-com-busted became the worker-bees of real estate sales. Everyone and anyone got licensed and into the frenzy. Little did they know that seasoned (pre-boom), full-time, professional agents had ready, willing, and able buyers and knew how to sooth seller's anxieties.


• McMansions. Size doesn't matter if it's not well-finished. Home buyers are looking for quality.


• Obese ceiling heights. Buyers prefer ceilings between 9'-11'. If you can't add a loft in a soaring room, "downsize me" height-wise, buyers say.


• Pioneering locations. Buyers are returning to the tried-and-true address, keeping resale desirability firmly in mind when making a purchase.


• Balconies as a marketing gimmick. Real balconies have room for a grill and a comfortable table and chairs. People love the outdoors and want to use it.


• Option ARMS (adjustable rate mortgage). Originally used for short-term financing, they were re-packaged for buyers who wanted to qualify for the highest loan amount.


• Pre-construction pricing on new construction. Builders who are plunging ahead with new projects will be better of with one pricing model from beginning to end. they are eliminating their "everything is an upgrade" mentality.

New Panama City Airport Construction Update from Jason Koertge on Vimeo.

The new airport is still ahead of schedule. Check out this video of the progress!

South Walton Sales By Area - July thru October 2008

Lots has been going on over the last 3 months. 185 properties have sold from west of Sandestin to Inlet Beach. Single family homes are still leading the sales, followed by residential lots.


The average sold price of homes were as follows: N. Santa Rosa: $302,079; Point Washington: $292,667; West 30-A: $423,017 and East 30-A: $1,043,469.

The average sold price of lots were as follows: N. Santa Rosa: $127,535; Point Washington: $130,000; West 30-A: $292,458 and East 30-A: $425,036

East 30-A sales and prices continue to reflect the attractiveness of the communities such as Watercolor, Seaside, Watersound, Alys Beach and Rosemary Beach.



The average sold price of homes in the major developments were as follows: Watercolor: $1,265,406; Watersound: $1,810,000; Alys Beach: $1,350,000; Rosemary Beach: $1,931,667. Seaside had no home sales to report over the last 3 months.

The average sold price of lots in the major developments were as follows: Watercolor: $443,750; Watersound: $277,063; Rosemary Beach: $1,305,967. Seaside and Alys Beach had no lot sales to report over the last 3 months.


This concludes our snapshot of sales over the last 3 months. For more specific information related to your personal needs, give us a shout at 877-231-9888 or miriam@graytoncoastproperties.com