REAL ESTATE MARKET IN NORTHWEST FLORIDA DOING QUITE WELL FROM A YEAR AGO

Things are doing quite well and I am certain, they will be getting even better in the residential market. Why, a number of reasons. One, a good percentage of the 7th Special Forces Group are sitting in rentals (homes and apartments) looking around for the right place to live; two, a number of folks did not move their families yet from Fort Bragg, because they have not decided to move yet; Three, 7th Special Forces Group has another Battalion on the way; Four, the F-36 Training Squadron folks are beginning to ramp up, as the new F-35’s are arriving; Five, the Housing Privatization Program is on hold; Six, the military is not the only folks coming to our area. In my travels as the President of the Northwest Florida Military Officers Association, I get to hear some really interesting stories. The latest in regards to the housing situation was the fact, a number of guys are renting homes and living together without their families (Geographical Bachelors) waiting for some quality homes and developments take shape. So in closing, I saying, you haven’t seen anything yet. Yes, the 7th Special Forces Group is operational here at Eglin. However, many have not move into their homes of the future. If you been in the military, which I have, you will understand how this works.

Real estate market better than a year ago
Relocation of 7th Special Forces families is the reason, Realtor says
By DUSTY RICKETTS
Northwest Florida Daily News 315-4448 dricketts@nwfdailynews.com  
September was the second good month in a row for the local real estate market, as the number of single family homes and condominiums sold outpaced last year’s levels. Metro Market Trends recently released the latest sales reports for Okaloosa, Santa Rosa and Walton counties. Although there was some fluctuation in home prices, the number of single-family homes and condominiums sold in all three counties increased last month compared with September 2010. “I think (September) went very well. Everything was up,” said Jean Floyd, a local Realtor and president of the Emerald Coast Association of Realtors. “I saw a leveling out of pricing and we had another good month. “It’s very telling to me that Northwest Florida and our area in particular is really doing well,” she added. Single-family home sales in Okaloosa County were up 19.8 percent in September compared with September 2010, according to Metro Market Trends. Condominium and townhome sales increased even more and were up more than 35 percent. Walton County saw similar increases, with single-family home sales up 13.1 percent and condo/townhome sales up 31.3 percent. Santa Rosa County’s sales increased 14.2 percent for singlefamily homes and 10 percent for condo/townhomes. Property values also increased in Okaloosa and Walton counties but slipped in Santa Rosa County. The average price of a single-family home sold in Okaloosa County in September was $219,251, up slightly from last September’s average price of $215,472. Condominiums and townhomes had a larger increase, going from $218,417 to $240,247 year over year. The margins were even larger in Walton County, where the average single family home price jumped almost $20,000, from $413,483 to $433,016 in a year. Average sale prices for both single-family homes and condominiums/ townhomes fell in Santa Rosa County, although condo/townhome prices were down only two-tenths of a percent. The average single-family home price fell from $180,389 to $163,117. Floyd attributes the differences in sales prices to the influence of the 7th Special Forces relocating to the area. She said Okaloosa and Walton counties’ real estate markets were seeing more of an effect from the almost 1,000 families than Santa Rosa County. In Niceville alone, the average sales price increased from $213,000 last September to $251,000 this year, Floyd said. “We’re doing very well,” Floyd said. “Sales are up, and I just look forward to that trend through the end of the year being the same.”