Monday, September 19, 2016

Location #1 Factor In Value

When done with appropriate due diligence, real estate can be one of the most solid long-term investment anybody can make. It doesn’t matter if you are purchasing a primary residence, second home, or rental property; all three types of ownership are investments. The purchase of any real estate should be approached methodically.  And, it’s all about the price—always.  

There is a solid correlation between location and price. Location is the number one factor impacting value. A look at the local area and its various communities that dot the area reflect this fact. The same exact home will be valued differently in dissimilar communities.  

If you are a buyer, target an area that will meet your lifestyle and financial requirements. A property can be renovated and square footage and amenities can be added—but the location is not changeable. Also, consider the appreciation potential:  What will this community be like in seven years? Is it an up and coming area or perhaps in an area that is being revitalized?  Both are excellent dynamics for future values.

If you are a seller, know your community. What about your community will add value? What might detract from value? It can be hard to separate emotions when you have lived in a property for a few years and have a vast treasury of memories. If the property is a pure investment, you might want to pump up the price and test the market. In any case, be aware of your personal biases.   

It doesn’t matter which hat you wear, buyer or seller, we're here to interpret the real estate market and to help you fulfill your real estate needs. There are distinctive financial and emotional benefits to homeownership, and we are here to help you navigate the tumultuous waters of the Emerald Coast real estate market. 

Thursday, September 1, 2016

July 2016 Market Report

Here are some highlights from the sales in July 2016 for Okaloosa Island, Destin, Sandestin, Miramar Beach, and 30A!