Category: Real Estate

By Gail Pelto

Yep—record low interest rates! Are you ready to take advantage of them? Here’s a few things to ponder, because there are a bunch of ”maybes” on how these historically low interest rates might work for you:

• maybe you’ve accumulated some debt that you’d like to pay off;
• maybe you have some major repairs you’d like to make;
• maybe you’d like to create wealth and buy an investment property;
• maybe you’d like to lower your current monthly mortgage payment;
• maybe you’re renting and you want to be a homeowner (you really should consider getting a home loan and pay your own mortgage rather than somebody else’s);
• maybe you’d like a vacation home;
• or, maybe you’d like a financial cushion, just in case something comes up in the future.

Where do you start; who do you call? There are plenty of places to get a mortgage loan and the two most common are mortgage companies and banks—and both would love to lend you money. So, which one should you call? I say, “CALL BOTH!”

You may already have a relationship with a bank, which might make it easier for you to reach out to your local banker. When you work with a bank, the bank is the lender and they set their own rates. They might also offer special benefits or discounts to their existing customers. As of the day I’m writing this (July 22, 2020) Nellie Schlachter, with Synovus says, “Our bank is currently paying up to $2000 towards HELOC (home equity line of credit) closing costs,” and here’s the cool thing about getting a HELOC: the money’s approved to give to you, it will be there when you need it and you PAY NOTHING unless you borrow from it! What a cushion, eh?!?

Mortgage Lenders often offer a larger variety of loan options, because they shop around, and they may be more forgiving of borrowers with damaged credit. Mortgage Lenders may also be more willing to negotiate on terms and, typically, they have a faster loan closing. Bonnie Manthey with Inlanta Mortgage, says, “When interest rates are this low, buyers can afford a lot more house than they can when interest rates go up by even just one point.”
The best fit for you will depend on your particular home-buying scenario, as well as your finances and goals. So, do your homework and shop around. The important thing here is WE HAVE RECORD LOW INTEREST RATES! Let that work for you. Are you ready to take advantage of these rates and buy that investment property or you first home? I can help!
Gail Pelto is a full-time real estate professional and new agent mentor with Keller Williams. She is also a board member with the Rotary Club of Destin as well as the Mattie Kelly Arts Foundation and is the current president of the Destin Chapter of Master Networks. For information about real estate or If you are a local business professional and would like to learn more about Master Networks, please call her at 850.374.0454 or email to gail.pelto@kw.com. On Facebook, Destin Agent Gail – Emerald Coast Realtor and Master Networks, Destin Chapter.

By Lisa Hughley

Every day is different in the world of Real Estate, and that is one of the reasons I absolutely love what I do.

A DAY IN THE LIFE..

You never know what you will run into while showing farm & ranch property; wild goats, pigs or rattlesnakes.  I was unaware that rattlesnakes actually travel in pairs until listing a 300 acre+ ranch adjacent to Tommy Lee Jones’s property north of Austin, Tx. I learned a few great lessons listing that property: (1) rattlesnakes travel in pairs, (2) what an armadillo hole looks like and (3) never drive your jeep across pencil cactus..all tires will be flat within 24 hours.

Marie, an agent who has been on my team for 12 years, is such a trooper. She will always carry a pair of gloves, a trash bag and Lysol spray in her car just in case she may need to pick up something disgusting (again) prior to showing a buyer through a vacant property! Great reason to arrive early!

When I have a closing, I do a walk-through the morning of closing.. just in case the entire interior is under water.

Always take a property video for your buyers and sellers of the property you just placed under contract..just in case the buyer, post-closing, truly believes the seller has taken all of the non-existent blinds throughout the home, or you find that the seller has removed the $2000 ice maker and replaced it with a 1970’s trash compactor.

30A REAL ESTATE UPDATE.. Detached Single Family Homes

Rosemary Beach

Gulf Front:  There are two active properties. One property at $3,295,000 with 1680 sf and priced at $1958.53 per sf and the other at $10,200,000 with 5208 sf and priced at $1961.31 per sf.  There is one pending at $5,500,000 with 3673 sf and 1800 days on the market. There have been 2 sales ranging $3,150,000 to $4,300,000. The average sale is $3,725,000 with 2665 sf and selling at 95% of list price, and at $1390.39 per sf with 1170 days on the market.

Non-Gulf Front: There are currently 39 active properties ranging $1,150,000 to $8,100,000. The average property is $3,632,462 with 3434 sf and 237 days on the market.  There are 11 pending properties ranging $1,650,000 to $3,890,000 with the average pending at $2,507,091 with 3149 sf and 102 days on the market. There have been 40 sales ranging $1,250,000 to $4,000,000 with the average sale being $2,186,812 with 3026 sf, and selling at 94% of list price at $732.61 per sf with 210 days on the market.

Seacrest Beach

Non-Gulf Front: There are currently 16 active properties ranging $689,000 to $1,595,000. The average listing is $962,719 with 2454 sf and priced at $394.64 per sf with 120 days on the market. There are currently 12 pending properties ranging $699,000 to $1,250,000 with the average pending sale being $868,267 with 2313 sf and 230 days on the market. There have been 56 sales ranging $525,000 to $1,820,000. The average sale is $882,545 with 2473 sf, selling at 97% of list price at $358.89 per sf and 155 days on the market.

Alys Beach

Gulf Front: There has been 1 sale at $10,000,000 with 3631 sf.

Non-Gulf Front: There are 11 active properties ranging $3,100,000 to $6,395,000, with the average listing being $4,506,500 with 3669 sf, priced at $1270.38 per sf with 76 days on the market.  There are currently 17 pending sales ranging from $2,095,000 to $4,980,000 with the average pending sale being $3,469,035 with 3308 sf, with 109 days on the market. There have been 41 sales ranging $1,800,000 to $6,200,000 with the average sale being $3,615,283 with 3389 sf, selling at 98% of list price at $1,053.85 per sf and 90 days on the market.

Watersound Beach

Gulf Front: There is one active property at $5,445,000 with 5738 sf and 549 days on the market. There is 1 pending sale at $6,695,000 with 4853 sf and 19 days on the market. There has been 1 sale at $5,495,000 with 4433 sf and 289 days on the market.

Non-Gulf Front: There are 18 active properties ranging $1,950,000 to $4,695,000 with the average listing being $3,148,717 with 3957 sf, priced at $799.24 per sf with 320 days on the market. There are 12 pending sales ranging $1,050,000 to $4,450,000 with the average pending being $2,545,250 with 3451 sf and 155 days on the market. There have been 43 sales ranging $815,000 to $4,750,000 with the average sale being $2,393,458 with 3535 sf, selling at 94% of list price at $662.73 per sf and 273 days on the market.

Seagrove

Gulf Front: There is one property available at $14,995,000 with 9051 sf and 93 days on the market.

Non-Gulf Front: There are 28 active properties ranging $549,999 to $4,664,000 with the average listing at $2,009,644  with 3239 sf, priced at $623.55 per sf and 194 days on the market.  There are 25 pending properties ranging $349,000 to $3,190,000  with the average property being $849,752  with 2262 sf and 132 days on the market. There have been 121 sales ranging $330,000 to $5,800,000 with the average being $1,034,740 with 2527 sf, selling at 97% of list price, and $414.79 per sf, with 149 days on the market.

Seaside

Gulf Front: There are currently 4 active properties ranging $1,830,000 to $9,995,000 with the average property $5,504,750 with 2597 sf, priced at $2,324.43 per sf and 74 days on the market. There is 1 pending property at $1,690,000 with 872 sf, and 117 days on the market.  There have been 7 sales ranging $1,700,000 to $6,250,000 with the average sale being $3,607,143 with  2020 sf, selling at 95% of list price at $1,960.97 per sf and 297 days on the market.

Non-Gulf Front: There are currently 6 active properties ranging $1,580,000 to $3,500,000 with the average sale being $2,594,667 with 2880 sf, priced at $982.45 per sf with 86 days on the market. There are 6 pending sales ranging $825,000 to $2,350,000 with the average pending property at $1,530,500 with 2058 sf, and 84 days on the market. There have been 10 sales ranging $750,000 to $4,191,655 with the average sale being $2,263,216 with 2388 sf, selling at 94% of list price, $988.82 per sf with 187 days on the market.

Watercolor

Gulf Front: There have been 3 properties sold ranging $2,919,555 to $3,999,900 with the average sale being $3,339,818  with 2537 sf, selling at 86% of list price at $1,322.06 per sf and 496 days on the market.

Non-Gulf Front: There are 26 active properties ranging $1,245,000 to $4,250,000 with the average listing at $2,612,612  with 3585 sf, priced at $716.63 per sf with 115 days on the market. There are currently 25 pending sales ranging $1,199,500 to $3,600,000 with the average pending sale at $2,238,900 with 3609 sf and 137 days on the market.  There have been 95 sales ranging $840,000 to $5,500,000 with the average sale at $1,973,135 with 3325 sf, selling at 96% of list price at $575.61 per sf with 131 days on the market.

Blue Mountain Beach

Gulf Front: There is 1 active property at $3,975,000 with 4267 sf and 257 days on the market. There has been 1 sale at 43,700,000 with 1967 sf and 167 days on the market.

Non-Gulf Front: There are currently 3 active properties on the market ranging $1,345,000 to $4,790,000. The average listing is $2,645,000 with 4680 sf, priced at $530.25 per sf and 643 days on the market.  There is one pending property at $999,000 with 2647 sf and 69 days on the market. There have been 8 sales ranging $860,000 to $2,900,000 with the average sale being $1,608,750 with 2794 sf , selling at an average of 97% of list price, $608.43 per sf with 97 days on the market.

Gulf Place 

There are currently 2 properties available ranging $850,000 to $1,175,000 with the average property at $1,012,500 with 3072 sf, priced at $327.62 per sf and 107 days on the market. There are 2 pending sales ranging $1,195,000 to $1,199,000 with 3664 sf and 228 days on the market. There have been 6 sales ranging $700,000 to $1,275,000 with the average sale being $957,167 with 3150 sf, selling at 96% of list price, at $308.01 per sf and 377 days on the market.

If you have questions, or if I can help you with any of your real estate needs, please contact me.

​Lisa Hughley

Broker, Owner

Classic Luxury Real Estate FL & GA

Classic Luxury Vacation Rentals

850-660-1962 Office

678-923-5152 Cell

All information regarding sales and availability is reliable but not guaranteed and gathered through the MLS system.