30A Market Summary and Analysis for November 2009

November 2009 proved to us that the market continues to recover with increased sales volume. In fact November saw a 44% increase in transaction volume for combined residential on the 30A Market which includes the South Walton East and Santa Rosa Beach South sections of the Emerald Coast MLS. More positive news is the 38% decrease in new listings for November 2009 which shows a continued history of declining volume. Increased transaction volume and decreased inventory is the magic recipe for a market turn around. We are going to keep a very close eye on the market during the December through February months which are traditionally slow. In influx of new foreclosures in 2010 may have an impact on inventory, however most Bank Owned Properties typically get snatched up with multiple offers the moment they hit the market.

Market summary & analysis for South Walton East and South Santa Rosa Beach November 2009

Unfortunately all of the naysayers about our market continue to get a consistent and empirical reminder that the market is working through our bad times and buyers are snatching up real estate at a steady and consistent rate . We have seen a consistent trend of increased sales volume as the prices have reduced. In any buyers market, when prices fall sales volume increases. Year over year we are seeing a consistent 33% growth in transaction volume.

WaterColor homes had a slow month in November with only 3 homes sold:

47 Royal Fern Way was a short sale and sold for $660,000

306 Red Cedar Way was a Bank Owned property and sold for $765,000

110 W. Summersweet Lane was a Huff Homes pre-sale in WaterColor’s Crossings District for $499,000 or $224/sf in WaterColor!

The most expensive home currently listed in WaterColor is 1942 East Co Hwy 30-A in WaterColor’s Gulf District for $3,950,000

South Walton Market Summary and Analysis for June 2009

June 2009 proved to us that the market is slowly recovering with increased sales volume. It also showed that our single family home prices are down from the same period last year. WaterColor homes represented the largest sales volume for the month of June. For a detailed analysis see below:

Market summary & analysis for South Walton East and South Santa Rosa Beach June 2009

There are no surprise here. We have seen a consistent trend of increased sales volume as the prices have reduced. In any buyers market, when prices fall sales volume increases. We will continue to see sales volume increase through the summer months and will closely track median sales prices and average price per square foot.

WaterColor homes represented the largest percent of sales volume for the month of June 2009 with 11 of the 36 homes sold. WaterColor’s Turtle Ridge had four homes sell from $499,000 to $425,000 at 1,700sf to 2,000sf. The highest priced home for the month of June was 357 Western Lake Drive in WaterColor. It was a beautiful 6 Bedroom / 6 Bath 5,207sf new home on Western Lake Drive in WaterColors highly sought after Park District. The home sold for $2,750,000 and was $528/sf. The average price per squarefoot in WaterColor for the month of June is $353/sf and median sales price was $895,000 which was skewed by the 4 Turtle Ridge Homes.

The most expensive new listing is 179 Pelican Circle in Seacrest’s Camp Creek Lake subdivision. “Surf Serenade” is a premier gulf front property with 7,295sf and is priced at $5,995,000 which is $821/sf.

Tracy’s Top Luxury Home Pick June 19, 2009 Best Interior 2009 Parade of Homes – Homes in WaterSound

This week Craig and I had the opportunity to view some homes in the 2009 Parade of Homes for Walton and Okaloosa County. This is a great event to see the latest designs and building trends. All the builders worked very hard on these projects to get them ready in time and it is definitely a must see if you are in town or a local in the area. All of the homes are amazing and we focused on the homes in our South Walton Area primarily the WaterSound and WaterColor homes. Every year these are our favorite homes to view. It is a lot of work and the builders deserve a pat on the back for making it happen in such a difficult market. The number of homes in the parade was down this year…however they had 31 great homes to view from Crestview to Sandestin to WaterSound.

This week I am going to start the list with three homes in the Parade of Homes since they were all amazing and each unique enough to make my list.

Home in WaterSound: Best Interior – 12 Shorebridge Circle by Dune Construction

David Lillienthal with Dune Construction did a wonderful job of building the 3,021sf WaterSound home for a second home owner. The interiors were amazing and designed by Kelly Porter-Smith of Porter-Smith Design. This house was also a Parade of Homes Blue Ribbon Winner. This WaterSound home had walnut floors, hand distressed cypress beams and columns, extensive wood walls, custom iron railing, custom cabinetry and lots of natural stone and tile throughout. This WaterSound Luxury Home was my Top Pick for Best Interior.

If you are interested in this luxury home in WaterSound or would like to preview other luxury homes in WaterSound. Please give Tracy Baranowski a call at 850.259.4270 or Craig Baranowski at 850.259.1788 or email  us info@teambaranowski.com.

Research: This Month in Real Estate, May 2009

Every month Keller Williams performs an in-depth analysis of the Real Estate Market. May 2009 was a critical month in Real Estate especially with home prices falling to 2003 level and the first signs of the market bottom are in play. This presentation looks at the National Real Estate Market. If you are interested in our South Walton market or specific areas including Grayton Beach, Seagrove Beach, Destin, Sandestin, Rosemary Beach, WaterColor or WaterSound, please call or email Craig or Tracy @ Team Baranowski 850.259.1788 or 850.259.4270.

Housing Market Offers Opportunities, Glimmers of Hope

Buying opportunities abound for value-savvy home shoppers in select markets across the nation, where prices have fallen to 2003 levels.  While home prices are still declining on a year over year basis, they are falling at the slowest rate in five months, which indicates a degree of stabilization compared to recent months.

Attractive prices, coupled with strong affordability and mortgage rates below 5%, translate to more buying power for home buyers. Buoyed by the $8,000 federal tax incentive, first-time buyers represented the majority of transactions closed last month. Their activity is expected to remain high and reduce the glut of homes on the market.

According to Charles McMillan, “Compared to a year ago, the typical family can pay much less in mortgage costs for the same home, or buy a better home without necessarily increasing their monthly payment. For buyers who’ve been on the sidelines and have good jobs, the market has never looked more favorable. Home ownership has always offered immediate benefits and long-term value, but the advantages in today’s market are unique.”

Another positive factor is the return of the jumbo loan. For nearly a year, it has been almost impossible for buyers to find financing for homes selling for more than $417,000. Bank of America recently began offering a 30-year fixed rate jumbo at less than 6 percent. Other banks are starting to follow suit.

Home sales and other consumer spending data combined with big earnings at some banks indicate that the U.S. economy is on the road to a gradual recovery this year. “The economy is still very weak, but there are some encouraging signs that support cautious optimism,” said Dennis Lockhart, president of the Federal Reserve Bank of Atlanta.

Click here to download complete report: This Month in Real Estate, May 2009

If you are considering buying or selling a luxury beach home, put the Team Baranowski advantage to work for you. If you have questions, our team is always available – 850.259.1788 or 850.259.4270. If you are interested in distressed property including short sales and foreclosures click here.