Coastal Persuasion

What Home Buyers Want

noreply@blogger.com (Kitty) — Mon, 29 Dec 2008 19:07:00 +0000

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.

noreply@blogger.com (Miriam) — Sun, 07 Dec 2008 23:30:00 +0000

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

noreply@blogger.com (Miriam) — Mon, 20 Oct 2008 19:09:00 +0000

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

Sales Stats June 17 to July 19, 2008

noreply@blogger.com (Miriam) — Mon, 21 Jul 2008 17:42:00 +0000

It's no surprise that the 30-A area is posting higher sales than the "off the beach" areas. In our current buyer's market, there are great deals along the beach! Smart buyers are jumping back into the market now in hopes of enjoying greater appreciation when the market turns around.

This graph represents a 32 day period:

The average sales price of homes in 30-A East (includes Watercolor, Seaside, Watersound, Alys Beach and Rosemary Beach) during this period was $1,150,458.
The average sales price of homes in 30-A West was $702,000.
N. Santa Rosa Beach saw the average sales price of homes at $187,185.

The graph above breaks sales down by major development. Note that all of these developments are in area 30-A East.

From June 17 to July 19, 2008 the average sales prices were as follows:

Watercolor - $1,440,000

Seaside - $0

Watersound - $1,750,000

Alys Beach - $2,100,000

Rosemary Beach - $1,667,000

Prices are fantastic for buyers right now. Can you get a house with gulf views for under $1,000,000? YES! Call or email to see what you can get for your money right now: 877-231-9888; miriam@graytoncoastproperties.com

International Airport Update

noreply@blogger.com (Miriam) — Thu, 17 Jul 2008 19:28:00 +0000

This information (including pictures) came from the Project Manager of the Panama City Beach International Airport:

The entire 1300+ acres of the airport development site have been cleared and grubbed. This means all trees, roots, and vegetation have been removed.

The main access road has been brought to its final elevation, compacted, sub-base installed, curbed, and is ready for paving in early July.

The building pads for the Terminal, Terminal apron, and main parking lot have been finalized.

The building pad and parking area for the rental car facility has been finalized.

The primary runway taxiway is in the process of being graded and stormwater ditches are being installed.

The primary runway is being graded and brought to its final elevation.

Stormwater ponds and conveyance systems have been installed and erosion control applied in all of these areas.

The earthwork portion of this phase should be completed by November 2008, a full 3 months ahead of schedule.

We should start the paving of the runways before October of this year.

The design for the terminal, public safety building, control tower, air cargo, and maintenance buildings has been completed and bids will be solicited in early July.

The project is well underway and a substantial amount of work has been completed in the last five and a half months. The attached aerial pictures taken earlier this month might give you a full appreciation of the size of the effort and progress.

Grayton 4th of July Parade - A Success!

noreply@blogger.com (Miriam) — Thu, 10 Jul 2008 17:02:00 +0000

The Grayton Beach parade was a great success! Lots of familiar faces and it was a great time to reconnect with old friends. Little Miss 4th of Julys were in abundance and red, white and blue were definitely the colors of the day. All enjoyed lemonade, watermelon and popsicles. We even had a kiddy pool for the dogs to drink out of. Several people enjoyed meeting the authentic Grayton Beach kittens that are residing on our back porch while awaiting wonderful, welcoming homes - in fact 2 little beauties were adopted! If you would like to be the proud family to a Grayton kitty, let us know! UPDATE: All Grayton Kitties have new homes!

July 4th Parade at Grayton Beach

noreply@blogger.com (Kitty) — Fri, 27 Jun 2008 18:25:00 +0000

Don't miss the annual Grayton Beach Parade!

It is uniquely Grayton. Friday, July 4th 8:00am. If you are decorating a car, boat, bike-meet in front of the Red Bar. If you are a spectator, find a place to sit in the shade and catch candy! Parade route goes through Old Grayton and New Grayton ending at our office-Grayton Coast Properties on Defuniak Street-for watermelon and lemonade. Be there or be square!

Sales Summaries

noreply@blogger.com (Miriam) — Mon, 16 Jun 2008 17:17:00 +0000

This post will include sales from the beginning of the year. From this point forward we will update sales on Mondays and the information will just be for the week. The graph below represents year to date sales:

You will see that the majority of sales have occured in the 30-A East area. This includes Watercolor, Seaside, Watersound, Rosemary Beach, Alys Beach, Seagrove, Seacrest and Inlet Beach. The 30-A West spans the western beginning of 30-A to Grayton Beach.

The graph below represents year to date sales in Watercolor, Watersound, Seaside, Alys Beach and Rosemary Beach:

The average price of the the sold homes were:

Watercolor: $1.3 million

Seaside: $1.6 million

Watersound: $1.1 million

Alys Beach: $2.9 million

Rosemary: $1.6 million

If you would like more detailed information, please let me know!

Another GCP First!

noreply@blogger.com (Miriam) — Sun, 15 Jun 2008 18:29:00 +0000

Kitty and I have joined the world of real estate blogging. Our intent is to quickly be able to give you updates on all things in the area that affect our real estate market - and we may just ramble on about other things too!

Nothing affects our market more than weather - and we have had lots and lots of beautiful weather. Skim boarding at Grayton is a favorite pass time! Stay tuned - for all you stat groupies - tomorrow will bring current sales stats.