Casey Joiner Destin-Sandestin FL Real Estate

Location is King for this perfect second home or vacation rental opportunity. Crystal Beach Cottages are located just 2 blocks from the Gulf of Mexico and steps away from the dining, shopping, and movie theatres of Destin's premier outdoor shopping mall Destin Commons. 4490 Luke Ave. also has the perk of having one of only a few private heated pools in the community. There is a community pool for everyone....but there is nothing like having one of your own. Do not miss the opportunity to check out the views and location of this 3Bed/3Bath home.

Here's the details.

• $405,900
• 1,299 Sq Ft.
• 3 Bed/3 Bath
• Heated Pool
• Great rental income potential
• Currently is renter occupied....but easy to show

The $7,500 Tax Credit for first time home buyers might be the opportunity of a lifetime. But like with most things, there is a deadline for this benefit. The current plan is to allow the tax refund for those home purchase on or before July 1, 2009.

Here is a bullet point of the facts around the benefit:

• The tax credit is available for first time home buyers only.
  
• The maximum credit amount is $7,500
• The credit is available for homes purchased on or after April 9, 2008 and before July 9, 2008.
• Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the tax credit.
• The tax credit works like an interest-free loan and must be repaid over a 15 year period.

What is the definition of a first time home buyer? A buyer who has not owned a principal residence during a 3 year period prior to purchase. For married taxpayers, the law test the homeownership of both spouses.

There are adjustments to this credit that could come in President Obama's Economic stimulus plan such as an extension of deadline and a forgiveness of the $7,500 loan.

If you are a first time home buyer, there may truly never be a better opportunity to take advantage of a new home purchase. If you are an agent, do your part by making sure that all renters know of this window of opportunity.

Please don't hesitate to contact me for a referral mortgage professional who can assist you in qualifying for this program.

Info courtesy of federalhousingtaxcredit.com

Each grain of sand on Destin Florida's gulf beaches is quartz washed down from the Appalachian Mountains by the Apalachicola River, ground to a feathersoft, blindingly white, quartz powder.

The unique sand on Destin's many beaches is among the whitest in the world. Consisting of small quartz particles, this sand which created our beaches came from a process involving the Appalachian Mountains and the Apalachicola River 20,000 years ago.

At the end of the last Ice Age, when the world temperatures began warming, and the ice caps began melting, large volumes of water were carried by the rivers to the world's oceans. The Apalachicola River, rising in the Appalachians, carried water to the Gulf of Mexico (and continues today). This water carried the quartz particles, from the rock that formed the Appalachian Mountains, and deposited them in the Gulf of Mexico, just 115 miles to the east of Destin. As the sea level began to rise, these quartz sands eventually formed a new shoreline. It is this quartz, ground to perfect granular ovals, that makes the sand on Destin's beach "squeak" between your toes when you walk on it!

The sands today continually replenish and reach as far west as Pensacola Pass, their final destination.

Palm Beach Post Staff Writer

Tuesday, January 27, 2009 (Palm Beach Post 11:29am eastern)

State Farm Florida is pulling out of the homeowner insurance business in Florida, the company said this morning, in a surprise move that will leave more than 800,000 policyholders without coverage and will cause almost certain turmoil in the Florida insurance marketplace.

"Faced with steeply declining resources to cover future claims and expenses, State Farm Florida has little choice," said Jim Thompson, president, of State Farm Florida. ''This is not an action we wanted to take, but one we must take given the realities of the Florida property insurance market.

"We regret the impact this will have on our customers, employees and agents in Florida," he added.

Thompson said the plan requires regulatory review, and State Farm Florida will not begin dropping policies under the plan until that process is complete. Florida, however, has no law on the books that would prevent State Farm from leaving the state's homeowner insurance market.

State Farm Florida emphasized that it was submitting a two-year plan that seeks to limit disruptions for customers, and if approved, will allow them time to find coverage with other insurers.

State Farm is Florida's largest private homeowner insurer, second only to state-sponsored Citizens Property Insurance Co.

State Farm is also Florida largest automobile insurer with more than 3 million policies. The company says it will continue to offer auto coverage. However, a 2007 state law pushed by Gov. Charlie Crist prevents insurers from offering only auto policies if they offer both auto and homeowners in other states.

Florida’s existing home, condo sales rise in December 2008

ORLANDO, Fla. – Jan. 26, 2009 – Florida’s existing home sales rose in December, making it the fourth consecutive month that sales activity demonstrated gains in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors® (FAR). December’s statewide sales also increased over November’s figures in both the existing home and existing condo markets.

Existing home sales rose 27 percent last month with a total of 11,053 homes sold statewide compared to 8,712 homes sold in December 2007, according to FAR. December’s statewide existing home sales were 28.9 percent higher than November’s statewide sales.

Florida Realtors also reported a 12 percent gain in statewide sales of existing condominiums in December, marking the third recent month (following September and October) for higher statewide existing home and existing condo sales compared to year-ago levels. Statewide existing condo sales last month increased 37.7 percent over the total units sold in November.

Sixteen of Florida’s metropolitan statistical areas (MSAs) reported increased existing-home sales in December; 11 MSAs also showed gains in condo sales, marking the sixth month in a row that a number of markets have reported increased sales activity.

Florida’s median sales price for existing homes last month was $155,500; a year ago, it was $213,600 for a 27 percent decrease. According to industry analysts with the National Association of Realtors® (NAR), there remains a significant downward distortion in the current median price due to many discounted sales, including a large number of foreclosures. The median is the midpoint; half the homes sold for more, half for less.

The national median sales price for existing single-family homes in November 2008 was $180,800, down 12.8 percent from a year earlier, according to NAR. In California, the statewide median resales price was $285,680 in November; in Massachusetts, it was $283,000; in Maryland, it was $262,109; and in New York, it was $210,000.

While overall sales have softened nationally in recent months, NAR’s latest housing outlook noted a trend of increasing activity in Florida, California, Arizona and Nevada markets. “Sales are rising in areas with large numbers of distressed properties as bargain hunters take advantage of discounted home prices,” said NAR Chief Economist Lawrence Yun. “It is imperative to provide incentives for homebuyers to get back into the market. It also depends on how effectively Congress and the new administration can help facilitate the short sales process and unclog the mortgage pipeline – impediments remain for some buyers with good credit.”

In Florida’s year-to-year comparison for condos, 3,138 units sold statewide compared to 2,814 sold in December 2007 for a 12 percent increase. The statewide existing condo median sales price last month was $130,600; in December 2007 it was $192,600 for a 32 percent decrease. In the latest data available at press time, NAR reported the national median existing condo price was $185,400 in November 2008.

Last month, interest rates for a 30-year fixed-rate mortgage averaged 5.29 percent, significantly lower than the average rate of 6.10 percent in December 2007, according to Freddie Mac. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

Among the state’s large to medium-size markets, the West Palm Beach-Boca Raton MSA reported a total of 638 homes sold in December compared to 467 homes a year ago for a 37 percent increase. The existing home median sales price was $246,000; a year ago, it was $337,900 for a 27 percent decrease. In the year-to-year comparison for the existing condo market, a total of 527 units sold in the MSA last month, up 26 percent compared to 419 condos sold the previous December. The market’s existing condo median price was $112,900; a year ago, it was $161,400 for a 30 percent decrease.

Article courtesy of Florida Association of Realtors