Favorite Local Places • April 18, 2024

Happyland Preschool in Niceville

by Cindy Zimmermann

Happyland Preschool in Niceville Original Location

1018 White Point Rd

Happyland Preschool in Niceville. Who wouldn’t want to go to a place called Happyland in Niceville! Niceville is home to a lot of great preschools. I happen to be part of the history of Happyland and would love to share it with you. In the 1960’s, Mrs. Lofe started Happyland in her home. She purchased land located at 1018 White Point Rd in 1983. She built the building that currently sits there now. In 1989, she sold the school to Lona Proctor.

My Last Graduation Ceremony

My family moved to Niceville in 1999. Soon after I started asking around about preschool recommendations. Happyland was one of those recommendations. I remember meeting Mrs. Proctor at the school. I loved the intimate family feel of the school. Our 2 youngest boys attended. In 2003, I heard a rumor that Mrs. Proctor was ready to retire and was selling the school. The word was that the only person who had offered to purchase it was a Vet, and he was going to turn it into a veterinarian clinic. I felt like I could not let that happen. My husband was deployed at the time, and I sent him an email suggesting that I purchase it. He completely supported my decision. So, I did in fact purchase and run the school starting in 2003.

I truly enjoyed running the school. There were parents who had attended Happyland as a child and now had their children attending. Happyland is a place where the children made friends while being prepared for kindergarten. The goal was to learn through play and teach them that school is a great place.

207 Government Ave – 2nd location

Classroom

In 2019 as my youngest child was getting ready to head off to college, I decided it was time to pass on the school to the next owner. I was ecstatic to sell the school to a wonderful mother and daughter. Wendy Goddard and Laura Bates were the perfect people to take over Happyland. They aptly named their LLC – Fourth Investors as they are the 4th owners. They took something great and made it even better. They also added a much needed second location!

If you are looking for a preschool, I think you would be remiss to not consider Happyland Preschool in Niceville. Happyland in Niceville, it just doesn’t get any better than that!

Real Estate Market Status • April 11, 2024

Niceville Real Estate Update for 1st Qtr. 2024

by Cindy Zimmermann

Wow, the first quarter of 2024 is already past. Time for a Niceville Real Estate Update for 1st Qtr. 2024. Let me start off by saying that if you are holding your breath waiting for interest rates to drop, you may want to stop before you pass out! It doesn’t look like rate cuts are coming anytime soon. Although, who knows what might happen in an election year.

Real Sign used by a client of mine when their home was for sale in the 80’s!

Inventory

The 1st quarter brought 203 homes to the market, this includes new construction in Deer Moss Creek and Eagles Landing. 122 homes sold during the first 3 months. The number of properties for sale in March was down 12.62% from February, but up 11.11% compared to March 2023. While the average number of homes for sale has increased compared to 2021, 2022 and 2023, it still remains low overall. Well below what would be considered buyer’s market.

Average Sales Price

The average sales price in March was $541,894 which was 12.59% higher than the average sales price in March 2023. The average price per square foot is a more normalized indicator for the direction of property value. The sales price per square foot in March was $254, equal to the previous month and 7.17% higher than $237 from March 2023. As you can see, prices do not seem to be heading anywhere but up. If you have been watching home prices, you have probably noticed many undergoing price reductions. In fact, homes sold so far this year have sold for an average of 97.7% of the original asking price. That just tell me they were not price correctly to start with. However, in the end the average sold price continues to go up.

Days on Market

The average days on market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM tends to indicate a move towards a buyer’s market, and a downward trend tends to indicate a move towards a seller’s market. The DOM for March was 53. This is just slightly higher than the average for the past 18 months. It has remained pretty steady since the increase in interest rates.

The Bottom Line

Sale prices in Niceville continue to trend up. Despite the interest keeping some buyers on the sideline, homes continue to sell and for higher prices mainly due to lack of inventory. It’s the old “Supply and Demand” effect. Despite all the pockets of new construction in the area, Niceville is limited on how much more housing can be built. The Niceville City Manager has some plans in the works (you can read about that here).

For a full summary of the Niceville Real Estate Update for 1st Qtr. 2024, see the chart below.

If you know someone who is looking to buy or sell, I’d love to make the process more successful and less stressful for them! 🙂

Niceville Real Estate Update

Educational Seminars • April 4, 2024

Make Sure your Golden Years are Truely Golden

by Cindy Zimmermann

Planning to make sure your Golden Years are Truely Golden

Please join us in what we hope to be the first of many educational seminars. In our careers, we have come across sad stories of people finally reaching retirement and finding out that they weren’t really prepared. In many cases the stories could have had a much happier ending.

What will be discussed:

The Importance of Estate Planning and Wills
Should you put your Home in a Trust?
Capital Gains Tax on your Primary Residence when a spouse passes.
Making the most of the Equity in your Home
Making the decision to age-in-place, move close to family or senior living.

Who should attend:

Anyone who wants to be sure that they have planned as best as possible for retirement.
Widows or Widowers who may feel that they are not as financially savvy without their spouse.
Anyone who is concerned about their parents’ status (financial or current living situation)

Who will be speaking:

Cindy Zimmermann – Senior Real Estate Specialist
Richard Johnson – Attorney
Steve Schutt – Local Mortgage Lender

Where and when:

Niceville Chamber of Commerce May 2 at 10:30 am

Refreshments will be provided.

Please RVSP as space is limited. RSVP: Cindy Zimmermann 850-974-0869 or Cindy.zimmermann@cbrealty.com

Why are we doing this:

As I mentioned at the beginning, I have personally come across many situations where someone contacted me to sell their home and I felt that they would have greatly benefited from the information we are going to present. When you reach retirement, I hope that it is a time for you to enjoy. I also hope that you are prepared the best that you can be for those unexpected situations. Let’s Make Sure your Golden Years are Truely Golden!

Uncategorized • March 21, 2024

Can you Believe the Zillow Estimate?

by Cindy Zimmermann

Zillow publishes an estimated value for homes. Can you believe the Zillow estimate? I say no. Let me tell you why.

What Zillow Does Do

Zillow’s estimate is based on an algorithm. It compares your home to similar homes in the area. Zillow looks at items such as square footage, number of bedrooms, and number of bathrooms. It looks for homes that have recently sold. Sounds like it would give you a reasonable value and occasionally it does.

What Zillow Doesn’t Do

Zillow does not take into account that the updates that may or may not have been done. 2 identical homes located next to each other are not valued the same when one home has spent $100,000 updating the kitchen and baths while the other has simply maintained. There is no way for Zillow to know about the updates. The house with a screened in pool is worth more than one without. I think most people would agree that a 3-car garage is worth more than a 2-car garage. One of my favorite things that I have seen Zillow do when calculating a home value is comparing a home located on the bay to the similar house across the street that is not on the water. Zillow does not take into account that even though a home recently sold – it was on the market for 2 years. Another thing that is hard for Zillow to do is to consider how the current real estate market is in your area. Are homes selling quickly, is there a lot of inventory, are there a lot of buyers looking?

Where Can You Get a Good Estimated Value of Your Home

Many websites (mine included) offer a value calculator. These are no better than the Zillow estimate. You could take a look at the most recent “Market Value” of your home in the county appraiser’s website. This value is a ballpark and is typically lower than what your home would actually sell for. The most accurate value will come from hiring an appraiser. Of course this will cost you money. The next best value will come from asking a real estate agent to perform a competitive market analysis (CMA). A good real estate agent will do something similar to what an appraiser will do. A lot of work goes into a CMA – I wrote a whole article on this.

So, can you believe a Zillow estimate? Again, I say no. However, if you’re going to look at it, scroll down to where Zillow shows “Comparable Homes” and at least look at which homes it thinks are comparable to yours. If you would like a true estimate of your home’s value, Call Me! 850-974-0869

Real Estate Market Status • March 7, 2024

What’s Coming to Niceville?

by Cindy Zimmermann

What coming to Niceville? – Let’s look at the Future. Recently in the Facebook group “Niceville Word of Mouth”, I posed the question, “If you could change one thing about Niceville, what would it be?” Over 300 people responded. Many asked for a downtown, more sit-down restaurants, more places for people to gather, more affordable housing, a sports complex, a Home Depot, a Target and many other similar responses. This morning, I had the opportunity to sit in on a discussion with David Deitch, City Manager of Niceville. He and his team have big plans and dreams for our sweet little town that I think will results in quite a few of these wishes.

What’s already in the works:

If you haven’t heard already, the city recently purchased and tore down an old building on Edge Ave. (click here for more details). This land along with the surrounding land that is owned by the city is slated for development. The plan is to provide more community gathering places. Hopes are for a walking area with shops and restaurants. Niceville is certainly lacking a true downtown.

Another project currently under development is a pier. Across the street from “The Blue-collar Cafe and what used to be the Front Porch, there is a small landing owned by the city. There are plans being developed to build a large pier with boat slips. Imagine being able to boat over and walk to the new downtown. Niceville has so many beautiful waterways and I think it would be great to show them off and make it easier for more residents to enjoy them.

The city is also working on making enhancements to our parks. The Children’s Park and the Rocky Runway Park are just 2 that are slated for updates. Some updates include making the facilities to cater to children with special needs. The Children’s Park is now open 7 days a week in case you didn’t know.

Reclaimed water to be used by the residents of Deer Moss Creek is coming close to fruition.

The city is also currently negotiating a 30-year lease for the Mullet Festival area. There are looking into redesigning the area to have dedicated sports fields for soccer, baseball, Lacross and Football.

Items a little farther in the future:

The city is also negotiating with Eglin Air Force Base to obtain several parcels of land. The hopes for this land will be for affordable housing for our local workforce. Currently a lot of our local workforce cannot afford to live in Niceville. This is an issue for teachers, firefighters, military, police officers, nurses, and many more. They are also hoping to develop a 55+ housing area on some of the land. Both of these items are sorely needed in Niceville!

Bringing more childcare facilities and more medical providers to Niceville is worked on.

Discussions are also being had about widening Rocky Bayou Dr, College Blvd and 285.

Another item that may be more of a dream is conversion to underground utilities.

How can you find out more and keep up on new developments?

If you want to know more about what’s coming to Niceville, there are several ways to do this. Midbay News is a great source of information. You can go to their website or sign up for their weekly email newsletter. You can visit the city’s website. For those of you who prefer Facebook – you can also follow the city and Midbay News on there. Of course, if you would like to hear it from the horse’s mouth, you can attend the city council or city planning meetings. You can also join the city manager and the mayor at their monthly “Coffee and Conversations”.

If you or someone you know is looking for a realtor that knows and loves Niceville, I am that person! Call Me!

Favorite Local Places • February 20, 2024

Local Niceville Shop in Business Since 1965!

by Cindy Zimmermann

Can you guess which local Niceville shop has been in business since 1965? If you guessed Katie’s House of Flowers, then you are correct! Wow, that’s almost 60 years in business! From the business name, you would probably guess that they sell flowers. However, they do so much more than that! They have flowers, plants, home decor, garden accessories, plant and flower subscriptions, and more.

Flower Delivery:

They of course offer flower delivery. They make arrangements for Anniversaries, Birthdays, Weddings, Funerals, Mother’s Day, Easter, Get Well, New Baby, Thank you, Congratulations, Prom, or any other special occasion you can think of. They do custom bouquets and offer same day delivery!

Flower & Plant Subscriptions:

Have you ever heard of a flower or plant subscription? I had not until recently. Last Mother’s Day, my 5 children bought me a monthly flower subscription for a year! On the same day each month, a bouquet of fresh cuts flowers shows up at my front door. They are always different varieties and colors. They are always smartly packaged and beautifully fresh. Do you know a plant lover, you can send them a plant subscription. Subscriptions can be delivered as often as once a week or as infrequently as once a quarter. I feel like this is the perfect gift for that hard to shop for person.

Besides Flowers:

Other than flowers and plants you will find a variety of items that you may love or that would make a great gift. Instead of searching Amazon for gift ideas, stroll into the shop. There’s a lot to see. You will find bath and body items, “Niceville” related items, candles, fragrances, baby gifts, cutting boards, kitchen clothes, decor, windchimes, and more.

Local Supporting Local:

Katie’s House of Flowers also carries items from other local vendors. For example, you will see many items from the Register Bee Family Farm. They also support local causes. Currently you can help them support the community by purchasing a “Give Back Bouquet” for your loved one! All profits from this bouquet go directly to the Hutchins Family! The Hutchins’ daughter, Annalee, was diagnosed with a rare form of leukemia, and is currently receiving treatment in Pensacola at Struder Family Children’s Hospital. If you are the first person to send me an email that says, “Give Back”, I will send a “Give Back Bouquet” to a person of your choice.

Location:

You can find Katie’s House of Flowers at 402 Bayshore Dr in Niceville. You can reach them at 850-678-7811. You can check out their website by clicking here.

Shop Local! Support this Local Niceville Shop in Business Since 1965!

Real Estate Tips • February 8, 2024

Assuming a Low Interest Rate Mortgage Sounds Good – Is it?

by Cindy Zimmermann

Assuming a Low Interest Rate Mortgage Sounds Good – Is it? My mom always said, “If it sounds too good to be true, it probably is”. If it works for all parties involved it can be great. A lot of homeowners were able to secure interests rates below 3% on their home loan. I know of one homeowner with an assumable VA mortgage at 2.25%! Our area has a lot of military homeowners, and we are reaching the point where a lot of them with those nice low rates are putting their homes up for sale. If you’re looking to buy and hoping to assume a low-rate loan or looking to sell and planning to offer your low-rate loan, there are a few things you should know.

ARE ALL LOANS ASSUMABLE:

Most government loans are assumable, while private mortgages are not. That’s because many lenders include a due-on-sale clause in their paperwork. Examples of government loans are FHA, USDA, and VA. You need to check with whatever company is currently servicing your loan to make sure your loan is assumable.

BUYERS:

Let’s start with buying a home where the seller is offering for you to assume their low interest rate loan. The house is being offered for sale for $500,000. They have a remaining balance on their loan of $350,000. You would assume the loan of $350,000 and you would need cash for the remaining $150,000. This is generally true. There are a few companies that have recently come about that will allow you to take a loan for the balance. But historically you cannot take a 2nd loan for the difference. You can “borrow” the money from yourself by taking out a home equity loan on your current home or borrowing from your 401K. Or perhaps you have someone who can “gift” you the funds. Just know the details before you get too excited.

You will also still need to have a credit check completed and pay closing costs. If a VA loan is involved, you will most likely have a funding fee as well.

Real Sign used by a client of mine when their home was for sale in the 80’s!

SELLERS:

Now for sellers. You need to check with whatever company is currently servicing your loan to make sure your loan is assumable. Don’t expect them to be excited about the prospect. If your loan is assumable and you plan to offer it with the sale of your home, you should know a couple of things. During the process, you will want to make sure that you receive a release of liability. You don’t want to be liable if the buyer who assumes your loan defaults. If your current loan is a VA loan you can offer it to any buyer. If the buyer is a VA buyer with enough eligibility, then they can use their eligibility and release yours. If you allow a non-VA buyer to assume your loan, it will keep your eligibility tied up.

TIMING COULD BE A FACTOR:

Buyers and sellers should both be aware of a timing factor. Typically, it takes about 30 days time from a house contract being accepted to the closing on the house. Occasionally this could take up to 45 days. When a mortgage assumption is involved, expect it to take longer. For a non-VA loan, plan on 60 days. If the loan being assumed is a VA, plan on 90 days. This extra time may or may not be a big deal, but you need to plan for it. As mentioned above, the servicer of the loan probably won’t be too motivated to move quickly. There really isn’t much incentive for them to do so.

Assuming a Low Interest Rate Mortgage Sounds Good – Is it? It can be. It just doesn’t work out for every situation. As a real estate professional, I keep informed on all things involving the selling and buying of real estate. If you or someone you know is looking to move or invest, I would love to help! Contact Me.

Real Estate Tips • January 24, 2024

Tax Benefits of Owning a Home

by Cindy Zimmermann

What are the tax benefits of owning a home? Homeownership comes with many financial advantages and perks. These advantages include the ability to build home equity, leverage your borrowing power, and numerous tax benefits. Let’s talk about the tax benefits.

Deductions:

There are a few deductions you can claim on your tax. In order to qualify for these deductions, you must own your home and use it as your primary residence.

Mortgage Interest Deduction: If you took a mortgage to purchase your home, a good portion of the payment will be interest. Especially during the beginning years of repayment. Therefore, the interest you can deduct from your taxes will be higher at the start, gradually decreasing. Also, how much you’re able to deduct will also depend on your principal, interest rate, and income taxes. (This information can be found on your mortgage statement.)

Also, you can potentially deduct the interest from a home equity loan (HELOC), a refinanced loan, a line of credit, or a home improvement loan. The IRS states that as long as the funds are used to “buy, build, or substantially improve” your home, you can deduct the interest.

Mortgage Points Deduction: The last couple of years, as interest rates have risen many buyers may have paid mortgage (or discount) points to the lender to reduce their interest rate on a loan. The IRS allows you to deduct the amount of money you paid on points as long as prequalifying factors have been met. The amount you paid in points must be itemized on your loan documents. You can only deduct that amount from your taxes for the year in which you paid them.

Itemized Tax Deduction:

In addition to the standard deductions that the IRS allows, you can claim the following itemized deductions and credits.

Property taxes: Taxes are usually calculated based on the location and value of your property. You can receive a deduction for almost any property type. This may include your primary or vacation home, a boat, an RV camper, or even a property outside the US.

Home office: If you are self-employed and you file your taxes as such, you can deduct your home office. This is based on the percentage of your home’s total square footage being used as an office. But be careful not to overestimate its size since this can raise a red flag to the IRS.

Home modifications: The cost of modifications to your home for medical reasons can be deducted from your taxes. The expenses must exceed 7.5 percent of your adjusted gross income.

Tax Credits:

Tax credits are additional tax benefits of owning a home. Tax credits give you a dollar-for-dollar reduction on the taxes you owe.

Mortgage tax credit: Some state and local governments give a Mortgage Credit Certificate to new homebuyers via their lender. This enables them to receive a tax credit based on a percentage of the interest paid. These rates vary by state and range from 10 to 50 percent.

Energy tax credit: Depending on your state, you can receive tax credits for energy-efficiency improvements such as replacing insulation, swapping in energy-efficient doors or windows, and installing solar panels. In addition, you can receive a credit of up to $1,000 for installing an electric car charging station in your home.

Additional Property Tax Savings:

If you live in Okaloosa or Walton County, you can save on your property taxes. Homeowners can claim a Homestead Exemption. This not only reduces the amount to property taxes you will owe each, it also limits how much your taxes can increase each year. In addition to the Homestead Exemption, there are numerous other exemptions that you may qualify for. The deadline for applying for 2024 is March 1st. These include:

Additional Exemption for Persons 65 and Older (Senior Exemption), Widow/Widower Exemption, Exemption for Blind Persons, Disability Exemption, Totally & Permanently Disabled Persons, Disabled Ex-Servicemember or Surviving Spouse, Totally & Permanently Disabled Veteran or Surviving Spouse, Disabled Veterans Confined to Wheelchairs, Surviving Spouse of Veteran Who Died While on Active Duty, Surviving Spouse of First Responder Who Died in the Line of Duty, Totally & Permanently Disabled First Responder or Surviving Spouse, Veterans Age 65 and Older With Combat-Related Disability, Deployed Servicemembers.

Other Savings:

Additionally, when selling your home, you won’t have to pay capital gains tax if the appreciation is under $500,000 (if filing as a married couple) or $250,000 (if filing as a single person). However, some restrictions apply. For example, your home must be your primary residence, and you have to have lived in it for two of the past five years. You can also only take this exemption once every two years.

To help you navigate the various tax laws, seek the advice of a tax professional who can work with you to determine what you can legally deduct as a homeowner.

What are the tax benefits of owning a home? There are a lot. Take advantage of them – who doesn’t like to save on taxes! Happy Tax Day!

Uncategorized • January 18, 2024

Waterfront Home Poker Run

by Cindy Zimmermann

Poker Run to view Waterfront Homes in Niceville

A few other agents and I are hosting a Waterfront Home Poker Run on January 27. The homes will be open from Noon to 3 for you to come view. At each home you collect a card for your poker hand. You must visit all 5 homes to be eligible to win (each home will have a different color deck of cards just to keep us all honest). You will then return your 5-card hand to any of the participating agents by 3:00 pm. The winner will be announced at 4:00 pm. Some homes may also have door prizes that you can win.

This is a great opportunity to view 5 very different waterfront homes in the Niceville/Valparaiso area in 1 afternoon. Stop by and give the agents an opportunity to tell you all about the homes. The homes are listed by the following participating agents: 238 S Bayshore Dr Valparaiso – Christina Leavenworth, 164 Grandview Ave Valparaiso – Adam Bazzell, 109 Dolphin Point Road Niceville – Lauren McMullen, 813 Bayshore Dr Niceville – Vicky Leos, 1716 19th St Niceville – Cindy Zimmermann.

This is a giveaway. No cost to participate. The winner will receive cash, gift cards and merchandise valued at $400.

Good questions to ask about a home in general: Age, square footage, #beds, #bath, what updates have been done, age of the roof, is it in a flood zone, does the home have copper wiring.

Good questions to ask about waterfront homes: Is it in a flood zone, is it deep water, can I access the bay from here, what is the dock made of, how much can the boatlift hold, what time of storm protection does the home have, has the home ever flooded or had storm damage.

So, come out and have some fun on a Waterfront Home Poker Run!

Uncategorized • January 17, 2024

Update to 2024 Housing Predictions

by Cindy Zimmermann

Update to 2024 Housing Predictions. If you read my blog 2 weeks ago, “Housing Predictions for 2024“, then you know I promised to update after the opportunity to hear Barry Habib speak. Following are the key takeaways.

Interest Rates: There is a reasonable chance of a rate decrease at the March 20th Fed meeting. High probability of a rate decreases at both the May 1 and June 12 meeting. Expect rates to be between mid-5’s and high 6’s for 2024. Expect some additional decreases in 2025 and 2026. Don’t expect rates to return to the 3’s.

Housing Prices: Home appreciation is forecast to increase 4.5% – 5.00% and transaction volume is expected to rise 15% – 20%. The main driver of this is inventory. There are far more households being formed than there are homes being built. This is why the real estate market has been so strong and why we are seeing prices increase in conjunction with the lack of inventory. Expect 2024 to be no different.

So, what does this all mean? Buy now. Prices are only going to go up. As rates go down more buyers enter the market. Typically, a 1% decrease in interest rates results in 5 million more buyers entering the market. Buy before prices go up and why you have less competition. Spring typically brings more homes for sale. However, it also brings more buyers to compete with.

In making updates to my 2024 Housing Predictions, I was pretty much on the money. I have a few more details after the meeting, but my forecast certainly jives with Barry’s.

Happyland Preschool in Niceville

Niceville Real Estate Update for 1st Qtr. 2024

Inventory

Average Sales Price

Days on Market

The Bottom Line

Make Sure your Golden Years are Truely Golden

Can you Believe the Zillow Estimate?

What Zillow Does Do

What Zillow Doesn’t Do

Where Can You Get a Good Estimated Value of Your Home

What’s Coming to Niceville?

What’s already in the works:

Items a little farther in the future:

How can you find out more and keep up on new developments?

Local Niceville Shop in Business Since 1965!

Flower Delivery:

Flower & Plant Subscriptions:

Besides Flowers:

Local Supporting Local:

Location:

Assuming a Low Interest Rate Mortgage Sounds Good – Is it?

ARE ALL LOANS ASSUMABLE:

BUYERS:

SELLERS:

TIMING COULD BE A FACTOR:

Tax Benefits of Owning a Home

Deductions:

Itemized Tax Deduction:

Tax Credits:

Additional Property Tax Savings:

Other Savings:

Waterfront Home Poker Run

Update to 2024 Housing Predictions

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