Tim Shepard Destin's Blog: All Categories

Fall is my favorite season of the year.  The temperatures are in the mid-80's, the water is still warm, and the beaches are less crowded.

It's also the season of festivals.

My favorite, the Destin Seafood Festival, runs from October 2 - October 4 this year. The event is held on the Harbor and features activities for everyone. Visitors can enjoy many of the arts and crafts booths or sample a wide variety of local seafood favorites prepared by the best chef's in the area.

The Seafood Festival also features outdoor concerts on Friday and Saturday evenings.  This years headline acts include Survivor ("I Can't Hold Back", "Eye of the Tiger") and Joan Jett and the Blackhearts ("I Love Rock -N- Roll", "I Hate Myself For Loving You"). 

If seafood and music are…

For the past several years, I have quietly compiled a daily list (The Shark's List) of the best homes and condos that are currently for sale.  Every entry on this list represents the one property that is head and shoulders above the competition in one or more aspects.  This could be price, location, quality, amenities, neighborhood, or a combination of all.

This is a list that I maintain privately and do not email or publish on my website.  Because the list represents best of class, the content changes daily.  There is is only one way to obtain this list and I'll talk about that later.

I'm only discussing it here because of the following email that I received today from another realtor:

     I'm looking for a condo priced under $300,000 on or near the…

Fishing out of Season is Illegal!

Hunting out of Season is Illegal!

But....hunting homes in Destin out of season is absolutely Fine.

I have shown homes in Destin to the same couple for three consecutive years now.  They always visit the third week of August and plan on doing so again next year.  Every year, we look at homes and the same thing happens.  There aren't any available that fit their criteria.  It's really unfortunate because there were many qualified choices for them in March and April but none in August.  This happens to them every year. 

Why?

Because, Destin is a popular resort destination located in the panhandle of Florida. In fact, Destin is so popular that we receive over 4.5 million visitors annually.  This is quite an accomplishment…

There have been two great foreclosure opportunites come onto the market in Destin, FL in the past 10 days.  One was a nice beach front condominium and the other was a charming cottage within walking distance to the beach.  Both properties were bank owned and priced well below recent comparable sales.

For the past several months, almost every prospective buyer that I've spoken with has asked specifically for a list of bank owned properties.  Unfortunately, there isn't much of a list available because these properties typically contract quickly.  As a result, our strategy has been to identify potential neighborhoods and complexes with our buyers and wait for the next foreclosure or extremely motivated seller to appear.

At this point, our buyers have done…

Last year, when someone asked, it was easy to sum up the Destin Real Estate Market.  Generally speaking, there was a surplus inventory of homes and condos for sale in Destin accompanied by lackluster buyer interest, rapidly decreasing prices and anxious sellers.

I still get the same question today but the answer requires a more thoughtful response.  For a variety of reasons, buyers have come back in to the market in full force.  However, they are discrimating and all price ranges aren't seeing the same activity.

The "sweet spot", the price range that accounts for approximately 80% of Destin home sales is important to understand.  In 2008, this range extended to all homes priced below $600k while in 2009, the range includes sales up to only $500k.  The…

Today I received an email from Charles McMillan, 2009 NAR President.  I'm sure you did to.

He led out by describing two "exciting" updates on NAR's efforts to reach out to more consumers and bring them back into the market.  Specifcially, he mentioned a radio show in New York City and a new ad, "Housewarming", that reinforces the value of the temporary $8,000 tax credit.

The $8,000 tax credit is old news.  You would have to be dead not to have heard about it by now.  My 9 yr. old son even wants to buy a house. 

On second thought NAR is not behind the 8-ball, their off the table.

I strongly believe that if you criticize something, you should offer an alternative plan.  NAR didn't ask me, but this is what I wish they would focus their time and our money…