Kerry Veach

If you’ve been on the fence about selling your home in Destin, FL, now may be the best time to make the move…and here’s why:

• Low Inventory

Currently, there is a very short supply of homes which is not only driving up property values – it’s also reducing your competition.

• High Demand

There might be a short supply of available homes for sale in Destin, FL but there is no short supply of eager buyers, ranging from experienced investors to rookie first-timers.

• Low Interest Rates

Can mortgage rates get any lower?  I highly doubt it…and I highly doubt that it’s possible for them to stay so low for much longer.  Don’t wait for them to increase and reduce the number of qualifying buyers.

• Streamlined Transactions

Whether it’s a short sale or a traditional sale, transactional procedures and processes are much more efficient now than they were a few years ago.

• Moving Up

Home affordability is at an historical high, which means now really is a great time to make the move!

If you’re interested in selling or searching homes in Destin, FL, contact Kerry Veach.  Kerry is an experienced Realtor who can help you buy or sell Destin, FL real estate.  With over 1,000 closings and a full-time real estate team, it’s no wonder that 95% of Kerry’s business comes from referrals.

Image(s): FreeDigitalPhotos.net

Moving to Destin, FL is like a long-term vacation.  However, every move (no matter how desirable the destination) presents challenges.  Fortunately, these challenges can be limited with the proper planning and organization.

• Sort

Moving provides a great opportunity to start fresh.  The mistake many people make is moving the junk with them.  This can make the move more stressful and overwhelming than it needs to be.  For this reason, I recommend sorting your belongings into three different groups:

1. Items that can be donated to Goodwill.
2. Items that are broken or damaged and will go into the trash.
3. Items that will make the move with you.

If you are having trouble deciding whether or not to keep something, imagine yourself packing it, moving it, unpacking it, and placing it in your new home.  Is it worth the effort?

• Label

Make sure you categorize your boxes by room and write the appropriate room on each box.  If multiple rooms are being combined into one box, make a general list of items going into the box.  This will make the first morning in your new home easier when you are looking for something specific…like the coffee brewer.

• Prioritize

When you load items onto the truck, prioritize the boxes by loading the less important items first and the most important items last.  When you unload, you’ll have access to the most important items first.

Ready to make your move?  If so, contact Kerry Veach to search homes in Destin, FL.  Kerry is an experienced Realtor who can help you buy or sell Destin, FL real estate.  With over 1,000 closings and a full-time real estate team, it’s no wonder that 95% of Kerry’s business comes from referrals.

Image(s): FreeDigitalPhotos.net

According to data released by the Emerald Coast Association of Realtors, home prices have increased by six percent along the Emerald Coast in Florida.  This may be due in large part to a continuously low inventory and high demand from buyers.

Though homes sales were down in May 2012 from May 2011, this data does not appear to be indicative of the overall housing market’s condition – again, due to the extremely low inventory.  Single family homes sales in May 2012 dropped 1.7 percent from 12 months ago, while townhomes and condos dropped 7 percent.  Pending sales, however, have increased – 5.4 percent for single family homes and 13.1 percent for townhomes/condos.

Realtors in the Emerald Coast are reporting that many homes are receiving multiple offers.  This makes a strong argument that the market is beginning to transition into a seller’s market.  As multiple offers continue to roll-in, values will continue to improve.  As values improve, many homeowners will begin to get out of the red and can consider selling their Emerald Coast homes.

“Frankly, this is basic theory of supply and demand,” said Rutland.  “As the supply goes down and the demand continues to rise, the prices will rise.  While this is still a buyer’s market the pendulum is not swinging as far into the buyers’ favor as it was just two and three short years ago.  A buyer who believes sellers are desperate to sell may be surprised.”

Another bit of good news is that foreclosures and short sales are decreasing.   In Okaloosa County, closed foreclosure transactions decreased by 46.2 percent over May of last year, while completed short sales decreased by 33.3 percent.   While short sales and foreclosures continue to be a force in the real estate market, the reduction in their numbers leads real estate experts to believe that the housing market is recovering.

If you are interested in selling or searching homes in the Emerald Coast, Florida, contact Kerry Veach.  Kerry is an experienced Realtor who can help you buy or sell Emerald Coast, FL real estate.  With over 1,000 closings and a full-time real estate team, it’s no wonder that 95% of Kerry’s business comes from referrals.

Image(s): FreeDigitalPhotos.net

Last week, I wrote about the benefits of landscape shading for Destin, FL homes.  This week, I’m going to focus on cool roofs.

Satisfying both meanings of the word “cool”, these roofs combine hip with energy efficiency.  A cool roof reflects the sunlight and absorbs less heat – also known as solar reflectance and thermal emittance.  They may be constructed out of a highly reflective paint, sheet covering, or highly reflective tiles or shingles.  Cool roofs average temperatures that are about 50 degrees less than that of standard or dark colored roofs.

If the difference in temperature isn’t enough to entice you, then consider these benefits as well:

• Since your air conditioning unit won’t have to work quite as hard as it would with a standard roof, you can expect reduced electricity bills.
• If many houses in the same neighborhood have cool roofs, you can expect fewer power outages during peak times due to a lower electricity demand.
• Areas outdoors (such as a patio) that are shaded by the roof, but not air conditioned, will be cooler than they would be with a standard roof.
• Since your roof isn’t taking the quite the beating it was before you upgraded, you can expect the service life of your roof to last longer.
• Because you are using less electricity, you will be contributing to a reduction in power plant emissions such as carbon dioxide, sulfur dioxide, nitrous oxides, and mercury.

To learn more about cool roofs, download Guidelines for Selecting Cool Roofs from the EERE Building Technologies Program.

Make sure you check the Veach View Blog frequently to get more energy (and money) saving tips.  And as always, if you or anyone you know is interested in buying real estate in Destin, FL, or selling a home in Destin, FL, contact Kerry Veach online or call him directly at 1.800.879.0309.

With over 1,000 closings, 20+ years of experience and a full-time real estate team, it’s no surprise that 95% of Kerry’s business comes from referrals.

Image courtesy of FreeDigitalPhotos.net

The heat is here, and so is the time to begin thinking about ways to keep your home cool.  Besides cranking the AC to full blast and paying exorbitant electric bills, there are some other ways to help keep your home cool.  One thing homeowners can do to keep their Destin Beach homes cool is known as “landscape shading”.  This requires more effort than the simple press of a button (or push of a lever) on a thermostat, but I believe it is well worth it.

I’m sure you don’t need to be told how simply stepping into some shade on a hot day can make a huge difference.  Your home, of course, is no different.  Landscape shading and evapotranspiration (the process by which a plant actively moves and releases water vapor) can reduce surrounding air temperatures as much as 9° F (5°C).  And because cool air settles near the ground, air temperatures directly under trees can be as much as 25°F (14°C) cooler than air temperatures above nearby blacktop.

Not only is landscape shading a great way to cool your home, it’s also beautiful.  The process can be a little tricky since it requires that you analyze where and when the sun hits the hardest in your yard.  However, once you know that, you can move onto the next step:  figuring out which types of trees and shrubs you will plant.

At this point, it would probably be wise to consult a professional landscaping company (unless, of course, you have a pretty reliable green thumb yourself).  You’ll need to select the right type of tree for Florida climate, as well as a tree that will cover the areas you want shaded.  For example, you may want shade over your home during the hottest time of day, while leaving the pool area exposed.

Done correctly, landscape shading will lower your cooling bill and add beautifully customized curb appeal to your Destin Beach home.

If you or anyone you know is interested in searching for homes in Destin Beach, contact Kerry Veach.  Kerry is an experienced Realtor who can help you buy or sell a home in Destin, FL.  With over 1,000 closings and a full-time real estate team, it’s no wonder that 95% of Kerry’s business comes from referrals.

Image courtesy of FreeDigitalPhotos.net

Florida Realtors recently released a report concluding that real estate in Northwest Florida has improved since last year.  Several variables play into this result, including low inventory, low interest rates and strong buyer demand.  Buyer demand remains supported in large part by investors, but first-time homebuyers have begun dipping into this pool.  Another new member to this group are buyers who are using this opportunity to move up into a more desirable home, now that housing affordability is at an all-time high.

Okaloosa County, home to Destin Beach, had 2,498 properties — single-family homes, townhomes and condominiums — on the market in March. That’s a 27.43 percent decrease from March 2011, when 3,442 properties were up for sale.  Neighboring counties Walton and Santa Rosa are reporting similar figures.

“There are plenty of other signs of improvement,” Judi Rutland, president of the Emerald Coast Association of Realtors, said in an email. “A positive sign for Okaloosa and Walton counties is a decrease in inventory levels for all property types…It’s basic economics: supply and demand,” she added. “As the supply goes down, the demand will go up. Once demand increases, the prices will begin to go back up.”

Sales are also up in Okaloosa County.  238 single-family homes were sold in March at an average sales price of $207,649, and 70 townhome/condo units were sold at an average price of $271,671. Compare this to March, 2011 when 221 single-family homes were sold at an average of $205,451 and 52 townhome/condo units were sold for an average of $266,578.  In addition, single-family homes are also spending less time on the active market and receiving strong offers much faster than this time last year.

With such positive findings based on real estate market data, the future housing climate appears to provide hope to homeowners in Destin Beach.

If you or anyone you know is interested in searching for homes in Destin Beach, contact Kerry Veach.  Kerry is an experienced Realtor who can help you buy or sell Destin Beach real estate.  With over 1,000 closings and a full-time real estate team, it’s no wonder that 95% of Kerry’s business comes from referrals.

Image courtesy of FreeDigitalPhotos.net

If you’ve been searching Emerald Cost homes, then you might be interested to learn that home affordability is currently at the highest level we’ve seen in decades.  Nearly 78 percent of homes sold during the first quarter of 2012 were affordable to individuals who earned the national median income of $61,000 – this according to a report released yesterday by the National Association of Home Builders and Wells Fargo.

Here are some general figures to give you an even better idea of what this means:

• To purchase a home at the national median price of $158,000 with 5 percent down, the loan applicant would need an annual household income of $34,700.
• To purchase a home at the national median price of $158,000 with 10 percent down, the loan applicant would need an annual household income of $32,900.
• To purchase a home at the national median price of $158,000 with 20 percent down, the loan applicant would need an annual household income of $29,300.

These figures are assuming a 4 percent interest rate, good credit, and 25 percent of gross income allocated to principal and interest.

There are few reasons for this historic affordability index.  For starters, home values are still about 36 percent away from their peak, while the annual median income has increased by about 10 percent on a national level.  Mortgage rates also remain at record lows, hovering around the 4 percent mark.

While homes in Emerald Coast have never been more affordable, mortgage lending guidelines are far tighter than they were before the housing bubble burst.  Lenders are also requiring more documentation to verify that the borrower can afford the monthly mortgage payments associated with their loan program.  For borrowers with average credit, FHA may still be the best option, but this often comes with a higher interest rate and private mortgage insurance, making monthly payments higher than conventional loan programs.

If you are interested in searching Emerald Coast homes, contact Kerry Veach.  Kerry is an experienced Realtor who can help you buy or sell Emerald Cost real estate.  With over 1,000 closings and a full-time real estate team, it’s no wonder that 95% of Kerry’s business comes from referrals.

Image(s): FreeDigitalPhotos.net

When selling your home in Northwest Florida, it is important to understand what you are legally bound to disclose to potential buyers and your real estate agent. If you fail to make these disclosures, you could be on the hook for big bucks, sometimes long after the closing. In an effort to remove some of the gray in this area, I’ve compiled a list of items that you, the seller, must always disclose whether selling your home traditionally or “as is”.

1. History of Termites
Hopefully this seems like a no brainer, especially since the buyer will find out during the termite inspection. If your home as any history of termite infestation, you need to disclose this to your agent and buyers. A good practice would be to get a new termite inspection before listing the property, showing that the home is presently free of termites.

2. Water Damage and/or Mold
This is another one that should seem obvious. Any time there is water damage, there is the potential for mold, and mold is a very serious issue for health reasons. Again, this is something that will also come up in a home inspection so it is best to address it before it gets to that point. It is worth noting that water damage is one of the biggest causes for lawsuits related to non-disclosures. If you have had water damage, have a professional inspect the property before you list your home.

3. Lead
Real Estates brokers are adamant about this one. If your home was built before 1978, it is a federal law that you disclose any known lead-based paint. However, this law does not require the seller to have any tests performed. This is why the disclosures form has several options, including one stating that you have or do not have any knowledge of lead-based paint.

4. Repairs
This is last on the list because it causes the most confusion, and the specificity varies by state. However, when in doubt, disclose. Any structural repairs should absolutely be disclosed to your agent and buyers. Other repairs to the roof, plumbing, HVAC, etc. should be disclosed as well because again, it will come up in the home inspection anyhow.

Long story short, put yourself in the buyers shoes, and do not assume that you are protected by the buyer beware rule (aka “caveat emptor). Surprises tend to make buyers nervous, and nervous buyers don’t always make it to the closing table. Make sure you read the paperwork given to you by your agent, and ask any disclosure related questions you might have. Your agent’s broker will have all the information you need to make an informed decision.

If you would like to buy a home in Northwest Florida, or sell a home in Northwest Florida, contact Kerry Veach. With over 1,000 closings and a full-time real estate team, it’s no wonder that 95% of Kerry’s business comes from referrals.

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