The housing market is finally emerging from the 3 year crisis that pushed the nation into the longest recession since the Great Depression.  My partner and I alone have closed 13 homes in the past 8 weeks here in Niceville and the surrounding areas!! For the first time in 5 years, sales of previously occupied homes rose for the 3^rd consecutive month in June, while foreclosures and the number of homes on the market declined.

Just in Niceville, there have been 104 detached single family homes sold since May 1, 2009 with the average sale price being $296,349. Perhaps the $8000 tax credit that many first time home buyers have taken advantage of, has given the housing market a bit of a boost.  We have had several buyers use this tax credit recently!  With home prices lower and mortgage rates still low (and don’t forget that $8000 tax credit), it is a great time to buy a home in Niceville!

As many of you know, it termite swarming season in our area and that means dealing with those tiny, pests that enter your home the months of April-July. I recently had my friendly exterminator over to reassure me that my termite bond was protecting my home from the dangerous kind of termites and that these “swarmers” were actually NOT harmful. He told me that swarmers do not eat wood but are actually looking for a mate. Once they mate, they could have “babies” that could become the “bad” kind of termites but the swarmers themselves are not bad….just a real pain!

Swarmers are attracted to light so my exterminator told me to keep my lights off as much as possible during swarming season. I do keep my exterior lights off and try to keep as many lights off inside as possible but swarmers can see even the computer monitor if it is on. Most importantly, make sure you do not have any moisture areas in your home..NO LEAKS! These bugs like moisture. If you do not give them a happy place to be, they will die and you can just vacuum them up. As I said, we can’t really stop these swarmers from coming, but they aren’t harmful, just a pain to deal with. I absolutely recommend you KEEP YOUR TERMITE BOND ACTIVE! Without the termite bond, these swarmers can breed and create the nasty babies that can be distructive!

For those of you moving to Niceville and need a place to store your boats, Niceville will soon be offering a beautiful new Yacht Club! The North Light Yacht Club’s first phase is due to open mid June and offer 42,970 square feet of storage overlooking the Boggy Bayou in Niceville. This facility has 280 dry slips with rack lengths 30 to 40 feet.

The building itself was constructed with 951,000 pounds of steel and the barn stands 133 feet wide by 321 feet long and 67 feet high and is able to withstand up to 145 mph, according to the developer. This will be the second tallest building in Niceville, second only to the Mattie Kelly Arts Center at Northwest Florida State College.

The second phase of the North Light Yacht Club will include the marina, pool with sun deck and a 4,200-sq.-ft. two story, club house with a bar and grill. The second phase is expected to be completed in early to mid-July.

The Bay Beacon recently reported that the much-discussed Wal-Mart and Home Depot stores will be constructed in Niceville but that only Wal-Mart has anything approaching a concrete plan. It takes about 12 months to build a Wal-mart and the chain hopes to have the Niceville store open by Christmas 2010. Home Depot will also build in Niceville but no date or time has been planned. There has been speculation of a grocery store (like Publix) and restaurants going in as well.

The land for both sites has been cleared for over two years and some drainage work has been done, but no building permits have been sought for either stores. The location is north of John Sims Pkwy between Rocky Bayou Drive and the Oak Creek shopping Center. This new shopping center should be a positive thing for Niceville, bringing in job opportunities and commercial tax dollars for our city as well!

Many of our buyers are “on the fence” about buying a home right now. There are signs that will indicate whether you’re ready to take the plunge and buy a home.

1. Are you familiar with the market?

If you’ve been paying attention on how much houses are listed for in the neighborhoods you’re interested in and you have a realistic view of how much a house will cost you, you’re in good shape.

2. Do you have the money for a down payment and closing costs?

Down payments usually range from 3%-20% depending on the type of loan you acquire. Closing costs can be 2%-7% of the property value. One great thing to mention, however, is that closing costs are negotiable and you could buy a home today without paying any closing costs.

3. Do you know how much you can afford?

A general guide is: your monthly payment should be less than or equal to a percentage of your income, usually about ¼ of you gross monthly income. Also, your income, debt and credit history go into determining how much you can borrow. This general rule is: your debt, credit cards, car loans, housing expenses, alimony or child support, should not be more than about 30%-40% of your gross income.

4. Do you know what additional expenses will come along owning a home?

These expenses can include insurance, utility bills, maintenance costs (roofing, plumbing, heating and cooling).

5. Is your credit in good shape and is your credit report accurate?

Lenders will view your credit history to determine whether they’ll give you a loan. You can get a credit report from each of the three credit reporting companies: Equifax, Experian, and Trans Union.

6. Have you made any recent major purchases?

If you have, you may have a hard time getting a loan or it could potential lower the amount you’ll be able to borrow.

Last September, as everyone in Niceville knows, we lost a local student to a tragic football injury during a season opener.  His name was Taylor Haughen, “T”.  He was 15 and the only child to two amazing parents.  The entire community of Niceville was devastated as thousands attended T’s funeral.  Memorials were springing up outside of the Niceville High School and the name Taylor was made out of flowers along the fence.

One day, just after the accident, the lead singer of the All American Rejects (one of Taylor’s favorite bands) was driving through Niceville (we get lots of celebrities vacationing in our area because of the beautiful beaches) and he noticed the flowers and memorial at NHS.  He saw signs all over town and heard stories as he vacationed for the next couple of weeks.  He was so impressed by the support  and love of this community that he and his band decided to get involved.  It’s hard to imagine any positive coming from the death of a child but The Taylor Haughen Memorial Foundation was formed.

The foundation provides awards and scholarships to students who exemplified the character that Taylor did.  He was a remarkable young man!  Last night, March 18, 2009, two days after what would have been Taylor’s 16th birthday, there was a concert to benefit the Taylor Haughen Foundation.  And guess who performed, FOR FREE (all proceeds went to T’s foundation)!!  Yep, The All American Rejects!  They made a stop off of their World Tour to come to Niceville and perform for a sold out crowd of Taylor Haughen supporters!  It was awesome and inspiring.  The band expressed how impressed they were with the people of Niceville and how blessed they were to be performing for us. WOW!

As a mother of two teenagers, I was overwhelmed that a popular rock band would come to our small town and perform for free to benefit one of our local “heroes” and his family.  Thank you to The All American Rejects.  I liked your music before but I LOVE it now and I love you guys too!

I recently bought a home and within two months, the outside air compressor died. I called my home warranty company in Niceville, and they sent out an AC company representative the next day. Shortly after, I had a new compressor and we were back in business AND it only cost me the service fee of $55. Without my home warranty, it would have been over $700! So, a home warranty is a great thing to have when buying a home in Niceville. They usually run about $400/year for the basic warranty and can be renewed every year.

Things to do when selecting a home warranty company:

Be sure you know what the home warranty covers: read, read, read! Some warranties are very simply and straight forward and some are lengthy and difficult to understand. If you have questions, call the warranty company directly and ask specific questions.

Be sure you understand the specific steps that must be followed when something breaks down in your home. DO NOT call a plumber, for example, if you have a plumbing problem. Call the home warranty company so they can send out their own preferred plumbing representative.

Know what the service fee amount is. In my case, our home warranty has a $55 service fee; some can be $75 depending in what warranty program you choose.

Know what additional add-ons you can get. For example, most standard warranties do not cover a washer and dryer, but you can add them to your warranty for a small additional fee. You can also add swimming pool, spas, septic systems, garage door openers……

A home warranty might seem like an unnecessary cost, but when it comes time to replace an AC unit or a kitchen appliance, believe me, the service fee is a whole lot less than an new AC!

If you still haven’t decided whether this is the right time to buy a home in Niceville, please read below and visit the attached link.

First time home-buyers can now receive a tax credit of $8000 if they purchase a home (as their primary residence) on or after Jan. 1, 2009 and before Dec. 1, 2009. This differs from the tax credit of 2008 which was a loan. This new tax credit does not have to be repaid!

Store and factory closings, layoffs, and reduced confidence; but allow us to provide some perspective that might surprise you. The news quotes this as being “the worst economic crises since the Great Depression.” HHHMMM, really?

There are numbers from when President Reagan took office vs. today when President Obama took office:
Unemployment: then 7.5% vs. now: 7.2%
Inflation: then 12% vs. now 3%
PRIME: then 20.5% vs. now 3.25%
People living below the poverty line: then 14% vs. now 12%
Top tax bracket: then 70% vs. now 35%

Perhaps it’s not as bad as the press- or even we would like to believe. The benefits are that prices of just about everything are coming down due to reduced demand and government efforts. One example is fuel prices (look at what gas prices were just 6 months ago). Another example is the fact that mortgage rates are at a 50 year low, and you really can’t be in a better position to buy a home. There will be several thousand active duty military and civilian contractors along with their families coming to our area within the next two years. That huge influx of people will begin to create housing demand without precedent. So, even if you already own your dream home, this is a very good time to buy investment property!

People that (get ahead) are the ones that don’t follow a pack mentality; they buy when no one in buying and sell when on one is selling. If you have any further questions, do not hesitate to call on us.

When we begin looking for a Niceville house, we often get wrapped up in the important details like style, the number of bedrooms and bathrooms, and square footage. But we don’t always consider the quality of life issues in that may impact our ability to enjoy the house. Here are some other things you should keep in mind:

• Transportation is an important consideration that’s often overlooked. Consider traffic jams and gas prices, and assess Niceville public transportation options and commute times.

• Public safety has loomed larger as a factor in our quality of life. Proximity to Niceville police, fire and emergency medical services has become more important.

• Off-street parking is a factor in many Niceville areas. Is there a garage? How many cars will it hold? Is there parking available when you have guests or entertain?

• Recreational facilities such as Niceville playgrounds, parks, and pools are important to many people. Are they nearby? Is there a fee for these amenities?

Be realistic. There are no perfect Niceville houses. Decide what’s most important to you, and make sure you find a house that has the essential features that you require. Be prepared to compromise on some of the items on your wish list.

Buying a house is much more permanent than renting. Purchase a house that you are prepared to keep for a while. Select a house that will be reasonable to maintain, in terms of both utilities and repairs.

These are just a few of the things to think about as you choose a new house. When you’re ready to purchase a house, I’ll be happy to answer any questions about the Niceville area and help you find a house that truly feels like a home to you.