What is an Estate Sale and when should you do one?  Most people think of an estate sale as the selling off of all of a homeowner’s possessions after they pass away.  That is certainly when a lot of estate sales happen.  Estate sales also may happen when the homeowner moves into assisted living or with a family member.  They can also take place when a homeowner is looking to downsize.  At some point, a lot of homeowners decide they are no longer in need of the amount of space they have in their home, and they are ready for less upkeep and maintenance.  This is a great time to downsize.  Once you have an idea of the size of your new home and your current home is under contract, you can have an estate sale to sell they furniture and other items that you do not plan to move.

When the estate sale is going to take place prior to the sale of the home, I suggest that the owners and/or close family members go through the home and remove any items they wish to keep.  There really is no need to do anything else.  Next the estate sale company will come in and organize and price everything.  They will sell things you might not expect such as open cleaning supplies, food in the pantry, open spice containers and more.  They are informed on what items are worth and will sell for.  It’s important to work with a reputable company.  A reputable company will make the homeowner (or other responsible party) aware of any items they come across that they feel the family may want to keep but may have missed.  It’s not unheard of for them to find cash hidden various places.

When the estate sale is going to take place after the sale of the home.  The items to be sold need to be separated from the items to kept.  Again, the company will go through and price everything.

Estate sale companies will often times list items for sale online prior to the actual sale.  The sale itself can happen in 2 ways.  They can advertise a sale and make it open to the public.  They can also do a sale by appointment only.

What happens to items that don’t sell?  If the estate sale company has a physical store, they may agree to buy the items and place them in their store.  Items may also be donated to a local charity.

How do estate sale companies get paid?  Some companies take a percentage of the sales.  40% is a typical percentage to expect to pay.  Other companies charge by the hour.  I think in the end, most people would agree that they walk away with at least as much money as they would have if they conducted the sale on their own.  They will also agree that it saved them a lot of time and stress.

When should you do an estate sale?  If you are looking to downsize or sell the contents of a now vacant home, contact me and I can connect you with some great estate sale companies.  Let me and other professionals guide you through what can be a daunting process.  I can make it easier for you!

What’s keeping you from buying a home?  If lack of funds for closing costs and/or a down payment are the issue, I may have a solution for you.  The Hometown Heroes Housing Program (HHHP) was created in 2022 to provide down payment and closing cost assistance to first-time, income-qualified homebuyers to help them buy a home in the community where they work. This assistance is provided via a zero-interest loan that is repaid when the home is sold, rented or transferred.

The program was so successful that the Florida Legislature decided to expand it this year.  They made changes that make even more people eligible.  They added $100,000,000 more to HHHP.  Previously this assistance was only available to certain professions.  Now under the new guidelines, all full-time, Florida-based employees at or below 150% Area Median Income are now eligible.  In Okaloosa County that income limit is currently $139,650 and in Walton County it is $128,250 for an FHA or VA loan.  The maximum loan amount increased from $25,000 to $35,000, while the cap of 5% of purchase price remains.  Another change made certain manufactured homes eligible for an HHHP loan.

This program is a state of Florida program, so if you’re not working with a local lender or realtor, they may not know about it.  If you are even considering buying your first home, I would encourage you to reach out to a local lender and find out what you could qualify for.  After you find out that you really can afford to buy a home, call me!

If you are renting, you are paying a mortgage.  You are just paying someone else’s mortgage!  Starting building equity in your own future by looking into purchasing your own home.  So, what’s keeping you from buying a home?

Learn more at about the Hometown Heroes Housing Program by clicking Here.

Let‘s find out what is the most expensive home for sale on Florida’s Emerald Coast and some other fun real estate facts. As of June 19, 2023, the most expensive house listed for sale along the Emerald Coast is listed for the mere price of $25,000,000. That makes it’s 8,200 sq ft of living space come at a cost of $3,048.78/sq ft. It has 50 feet on the Gulf of Mexico and a 2-car garage. I don’t know about you, but I know my husband would be more interested in this bay front beauty with a 7-car garage.  It’s a steal at $348.71/sq ft.

Of course, we need to compare it to the least expensive home for sale along the Emerald Coast. This 2 bed, 2 bath home offers 1338 sq ft (about half the area of a tennis court) for the price of $46,000. Sorry, no garage with this one.

Curious what the smallest home for sale is? I was. It’s a 196 sq ft home (about twice the area of an apartment bedroom) in Santa Rosa Beach. It is listed for the meager price of $850,000. This 1 bed/1 bath home does not have a garage, but it has almost 1/3 acre and a kiddy pool. It would be amiss not to mention that it grossed over $44,000 in rental income in 2022.

Last but not least by any measure, the largest home for sale along the Emerald Coast is an 11,426 sq ft home in Santa Rosa Beach. Price per square foot is $1,969.19. And for those who need to know, it has a 3-car garage.

I recently came across this tidbit that I found interesting. In the early 20th century, Sears, Roebuck and Company offered mail-order homes. They sold prefabricated house kits through their catalog, allowing people to choose a design and have all the necessary materials delivered to their location. The homeowners would then assemble the house themselves or hire a contractor.

I hope you enjoyed these fun real estate facts. If you are interested in any of the homes included in this article, I would be happy to show them to you! 😉 If the most expensive home for sale along Florida’s Emerald Coast isn’t in your budget, I’m happy to find you a home that is.

Should you get in a bidding war for a home?  Wait, why am I writing about this now?  There aren’t still bidding wars happening on homes are there?  Yes, believe it or not, we are still seeing multiple offers on some homes.  Not as many as 2021 and 2022, but still plenty.  This is mostly due to the limited inventory in some areas.  As of June 12, 2023, Niceville has roughly 2.5 months single family home inventory, down 21% from the same time last year.  Valparaiso has about 3.5 months, down 61% from last year.  (As a reference anything less than 6 months is considered a seller’s market).

With the lack of inventory, you might feel pressured to put in an offer on a home that you know is receiving multiple offers.  If you find yourself in this situation, should you get in a bidding war?  Let’s talk about some things you should consider in making that decision.

If you “win” the bid, will you be paying over value for the home.  A good realtor can offer you guidance on determining what a fair market value is for the home.  This is done by reviewing comparable homes that have recently sold.  This often referred to as a Competitive Market Analysis or CMA.   If you enter a contract for a home for more than expect market value, the home may not appraise.  If you are financing the home purchase this can cause you to potentially not get financed or to put down more cash than you intended.

Another factor to consider is if you overpay for a home, you may not recoup the overage when you go to sell.  How long you realistically plan to stay in the home will play a part.  If you plan to stay in the home for quite a while, you may be able to accept paying over market value.   Make sure you know what you can afford.  (Make sure you have spoken with a lender well before this point!)

If you “have to move” due to various circumstances, you may feel more pressured to may find yourself bidding high on a home that really meet your needs.  Try to keep a level head and really look hard at what the home has to offer.  Perhaps the home has attributes that are important to you and rare to find.  Such benefits might include location relative to family or work, school district, the amount of land, etc.  Perhaps these items make it worth paying more for the house.

Working with a good Realtor can be invaluable.  Remember they deals with home buying for a living.  Most people do it rarely.

Should you get in a bidding war on a home?  Carefully consider whether you should or can afford to before you do.

Home inspections are an important part of the home buying process.  The purpose of a home inspection is to provide buyers with an overview of the property’s condition and identify any potential problems or safety issues that may need to be addressed.   I always recommend that buyers have a professional home inspection conducted.  While each inspection is unique and findings can vary depending on the age, condition, and location of the home, following are some items that I typically see.

Electrical Issues:  Open ground outlets or missing GFCI outlets in wet locations.  Codes have changed over the years, and these are typical to find in older homes.  Homes built from the mid-60’s to mid 70″s may have aluminum wiring.   Homes built from the 50’s, 60’s, any 70’s may have “cloth” wiring.  Aluminum and cloth wiring can drive up insurance costs or potentially prevent a new owner from obtaining insurance.

Plumbing problems: Dripping faucets or shower heads pop up often on reports.  Slow running drains will often be called out.  Inspectors will typically notate the age of the hot water heater as well.  Insurance companies like to see newer hot water heaters that are preferably located in the garage.

Wood Rot:  This is important for the Emerald Coast.  Termites and other wood destroying organisms love rotted wood.  Typical places to find wood rot are at the bottom of exterior doors and door frames.  This includes garage door frames.  You will also find wood rot on decks and fences.  If there have been past roof or shower leaks, there could be wood rot in the attic or behind shower walls.

Lighting:  I am often surprised how many times lighting is called out.  If a light bulb is missing or burned out the inspector cannot verify that the light fixture is working properly.  It is in the seller’s best interest to replace all missing or burnt-out lights prior to putting their home up for sale.

Moisture damage:  If you have ever had a water leak of any type there will usually be signs of water damage.  After repairing the leak, it is best to repair the damage and all signs of it.  Water staining on ceilings tend to cause concern as to whether there is an active leak or possible hidden damage.

While there many other items that may be discovered by a home inspection, those are some of the most common items I see found.

Buyers Should Attend the Home Inspection

Sellers can help themselves out by doing a thorough inspection prior to listing their home.  They may even want to have a professional inspection conducted.  When sellers take care of known issues ahead of time the home will generally show better.  Not to mention, once you are under contract everything has to be completed on a set timeline.

What about new construction?  You might be surprised what a home inspector may find on brand new construction.  I’ve got some good stories – ask me.

For some additional information on types of inspections, click here.

If at all possible, I also recommend that buyers attend the home inspection.  They may gain value information on their new home from the inspector.  Don’t skip the home inspection – home inspections are important!      For more information, contact me.

Zillow

So, you are thinking about installing solar panels.  Here are things you sold know before installing solar panels.  Solar panels typically cost between $15 – 30K.  On average, solar panels save 10- 30K over the lifetime of the system.

Installing solar panels is a great way to generate clean and renewable energy for your home or business. Before you decide to install solar panels, there are several important things you should consider:

Your energy usage: The first step in determining whether solar panels are right for you is to understand your energy usage. You should review your electricity bills to determine how much energy you use and when you use it. This information will help you determine the size of the solar system you need to install.

Your roof: Your roof should be in good condition and should have a suitable orientation and tilt for solar panels. Ideally, your roof should face south and have a pitch of between 15 and 40 degrees. You should also make sure that your roof is structurally sound and can support the weight of the solar panels.

Local regulations: Before you install solar panels, you should check your local regulations to ensure that you are allowed to do so. Some areas have zoning laws, building codes, and homeowner association rules that may restrict or regulate solar panel installations.

Incentives and financing options: There are various incentives and financing options available to help offset the cost of solar panel installation. You should research and compare these options to determine what works best for you.

Maintenance: Solar panels require little maintenance, but you should still consider the cost of routine inspections and cleaning. You should also check your homeowner’s insurance policy to ensure that your solar panels are covered.

Insurance:  You should also check with your homeowner’s insurance to find out if installation of solar panels will increase your premium.

Installation and warranty: It’s important to choose a reputable solar panel installer who can ensure that your system is installed correctly and meets all safety standards. You should also ask about the warranty and what is covered, including the panels, inverter, and installation.

By considering these factors before installing solar panels, you can make an informed decision about whether solar energy is right for you and what type of system will work best for your needs.

You can compare solar quotes on Energysage.com or sunrun.com.