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I just received this very informative article from Bonny Manthey at Countrywide Home Loans located here in Destin, FL. She passes along to us some frequently asked questions regarding the Housing and Economic Recovery Act of 2008 that helps the lay person understand more about first-time homebuyer tax credits. The information comes from NAHB in Washington DC. Frequently Asked Questions
About the First-Time Home Buyer Tax Credit The Housing and Economic Recovery Act of 2008 authorizes a $7,500 tax credit for qualified first-time home buyers purchasing homes on or after April 9, 2008 and before July 1, 2009. The following questions and answers provide basic information about the tax credit. 1. Who is eligible to claim the $7,500 tax credit?
First time home buyers purchasing any kind of home-new or resale-are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after April 9, 2008 and before July 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs. 2. What is the definition of a first-time home buyer?
The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests homeownership history of both the home buyer and his/her spouse. For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. 3. What types of homes will qualify for the tax credit?
Any home purchased by an eligible first-time home buyer will qualify for the credit, provided that the home will be used as a principal residence and the buyer has not owned a home in the previous three years. This includes single-family detached homes, attached homes like townhouses, and condominiums. 4. Instead of buying a new home from a home builder, I have hired a contractor to construct a home on a lot that I already own. Do I still qualify for the tax credit?
Yes. For the purposes of the home buyer tax credit, a principal residence that is constructed by the home owner is treated by the tax code as having been "purchased" on the date the owner first occupies the house. In this situation, the date of first occupancy must be on or after April 9, 2008 and before July 1, 2009.
In contrast, for newly-constructed homes bought from a home builder, eligibility for the tax credit is determined by the settlement date. 5. What is "modified adjusted gross income"?
Modified adjusted gross income or MAGI is defined by the IRS. To find it, a taxpayer must first determine "adjusted gross income" or AGI. AGI is total income for a year minus certain deductions (known as "adjustments" or "above-the-line deductions"), but before itemized deductions from Schedule A or personal exemptions are subtracted. On Forms 1040 and 1040A, AGI is the last number on page 1 and first number on page 2 of the form. For Form 1040-EZ, AGI appears on line 4 (as of 2007). Note that AGI includes all forms of income including wages, salaries, interest income, dividends and capital gains.
To determine modified adjusted gross income (MAGI), add to AGI certain amounts such as foreign income, foreign-housing deductions, student-loan deductions, IRA-contribution deductions and deductions for higher-education costs. 6. If my modified adjusted gross income (MAGI) is above the limit, do I qualify for any tax credit?
Possibly. It depends on your income. Partial credits of less than $7,500 are available for some taxpayers whose MAGI exceeds the phaseout limits. The credit becomes totally unavailable for individual taxpayers with a modified adjusted gross income of more than $95,000 and for married taxpayers filing joint returns with an AGI of more than $170,000. 7. Can you give me an example of how the partial tax credit is determined?
Just as an example, assume that a married couple has a modified adjusted gross income of $160,000. The applicable phaseout to qualify for the tax credit is $150,000, and the couple is $10,000 over this amount. Dividing $10,000 by $20,000 yields 0.5. When you subtract 0.5 from 1.0, the result is 0.5. To determine the amount of the partial first-time home buyer tax credit that is available to this couple, multiply $7,500 by 0.5. The result is $3,750.
Here's another example: assume that an individual home buyer has a modified adjusted gross income of $88,000. The buyer's income exceeds $75,000 by $13,000. Dividing $13,000 by $20,000 yields 0.65. When you subtract 0.65 from 1.0, the result is 0.35. Multiplying $7,500 by 0.35 shows that the buyer is eligible for a partial tax credit of $2,625.
Please remember that these examples are intended to provide a general idea of how the tax credit might be applied in different circumstances. You should always consult your tax advisor for information relating to your specific circumstances. 8. Does the credit amount differ based on tax filing status?
No. The credit is in general equal to $7,500 for a qualified home purchase, whether the home buyer files taxes as a single or married taxpayer. However, if a household files their taxes as "married filing separately" (in effect, filing two returns), then the credit of $7,500 is claimed as a $3,750 credit on each of the two returns. 9. Are there any circumstances for which buyers whose incomes are at or below the $75,000 limit for singles or the $150,000 limit for married taxpayers might not be able to claim the full $7,500 tax credit?
In general, the tax credit is equal to 10% of the qualified home purchase price, but the credit amount is capped or limited at $7,500. For most first-time home buyers, this means the credit will equal $7,500. For home buyers purchasing a home priced less than $75,000, the credit will equal 10% of the purchase price. 10. I heard that the tax credit is refundable. What does that mean?
The fact that the credit is refundable means that the home buyer credit can be claimed even if the taxpayer has little or no federal income tax liability to offset. Typically this involves the government sending the taxpayer a check for a portion or even all of the amount of the refundable tax credit.
For example, if a qualified home buyer expected, notwithstanding the tax credit, federal income tax liability of $5,000 and had tax withholding of $4,000 for the year, then without the tax credit the taxpayer would owe the IRS $1,000 on April 15th. Suppose now that taxpayer qualified for the $7,500 home buyer tax credit. As a result, the taxpayer would receive a check for $6,500 ($7,500 minus the $1,000 owed). 11. What is the difference between a tax credit and a tax deduction?
A tax credit is a dollar-for-dollar reduction in what the taxpayer owes. That means that a taxpayer who owes $7,500 in income taxes and who receives a $7,500 tax credit would owe nothing to the IRS.
A tax deduction is subtracted from the amount of income that is taxed. Using the same example, assume the taxpayer is in the 15 percent tax bracket and owes $7,500 in income taxes. If the taxpayer receives a $7,500 deduction, the taxpayer's tax liability would be reduced by $1,125 (15 percent of $7,500), or lowered from $7,500 to $6,375. 12. Can I claim the tax credit if I finance the purchase of my home under a mortgage revenue bond (MRB) program?
No. The tax credit cannot be combined with the MRB home buyer program. 13. I live in the District of Columbia. Can I claim both the DC first-time home buyer credit and this new credit?
No. You can claim only one. 14. I am not a U.S. citizen. Can I claim the tax credit?
Maybe. Anyone who is not a nonresident alien (as defined by the IRS), who has not owned a principal residence in the previous three years and who meets the income limits test may claim the tax credit for a qualified home purchase. The IRS provides a definition of "nonresident alien" in IRS Publication 519. 15. Does the credit have to be paid back to the government? If so, what are the payback provisions?
Yes, the tax credit must be repaid. Home buyers will be required to repay the credit to the government, without interest, over 15 years or when they sell the house, if there is sufficient capital gain from the sale. For example, a home buyer claiming a $7,500 credit would repay the credit at $500 per year. The home owner does not have to begin making repayments on the credit until two years after the credit is claimed. So if the tax credit is claimed on the 2008 tax return, a $500 payment is not due until the 2010 tax return is filed. If the home owner sold the home, then the remaining credit amount would be due from the profit on the home sale. If there was insufficient profit, then the remaining credit payback would be forgiven. 16. Why must the money be repaid?
Congress's intent was to provide as large a financial resource as possible for home buyers in the year that they purchase a home. In addition to helping first-time home buyers, this will maximize the stimulus for the housing market and the economy, will help stabilize home prices, and will increase home sales. The repayment requirement reduces the effect on the Federal Treasury and assumes that home buyers will benefit from stabilized and, eventually, increasing future housing prices. 17. Because the money must be repaid, isn't the first-time home buyer program really a zero-interest loan rather than a traditional tax credit?
Yes. Because the tax credit must be repaid, it operates like a zero-interest loan. Assuming an interest rate of 7%, that means the home owner saves up to $4,200 in interest payments over the 15-year repayment period. Compared to $7,500 financed through a 30-year mortgage with a 7% interest rate, the home buyer tax credit saves home buyers over $8,100 in interest payments. The program is called a tax credit because it operates through the tax code and is administered by the IRS. Also like a tax credit, it provides a reduction in tax liability in the year it is claimed. 18. If I'm qualified for the tax credit and buy a home in 2009, can I apply the tax credit against my 2008 tax return?
Yes. The law allows taxpayers to choose ("elect") to treat qualified home purchases in 2009 as if the purchase occurred on December 31, 2008. This means that the 2008 income limit (MAGI) applies and the election accelerates when the credit can be claimed (tax filing for 2008 returns instead of for 2009 returns). A benefit of this election is that a home buyer in 2009 will know their 2008 MAGI with certainty, thereby helping the buyer know whether the income limit will reduce their credit amount. 19. For a home purchase in 2009, can I choose whether to treat the purchase as occurring in 2008 or 2009, depending on in which year my credit amount is the largest?
Yes. If the applicable income phaseout would reduce your home buyer tax credit amount in 2009 and a larger credit would be available using the 2008 MAGI amounts, then you can choose the year that yields the largest credit amount. | NAHB is providing the information on this web site for general guidance only. The information on this site does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind nor should it be construed as such. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action on this information, you should consult a qualified professional adviser to whom you have provided all of the facts applicable to your particular situation or question. None of the tax information on this web site is intended to be used nor can it be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose. | 1201 15th Street, NW
Washington, DC 20005
202-266-8200
800-368-5242
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• single story - Caribbean Village, Bluewater Bay - Very Spacious & Delightful Custom Built Home by Gary Miller. Great size (.37 acreas) corner lot with large yard, a peek-a-boo view of the Fairway and the lake across the way, circular drive, side-opening garage & Golf Cart Storage Area. There is also room inside the fenced back yard for RV/Boat Parking. Owner's have given home a sparkling updated look with many new features such as: interior paint including all woodwork, updated bathroom fixtures, new master bath shower door, new very nice kitchen faucet, new tile flooring in the bathrooms and much more. Beveled front door leads you into the large foyer with hard wood floors. Dining Room is accented with bay windows, chair rails and crown molding. Living room has Cathedral Ceilings & large brick hearth & fireplace. The Master Bedroom has plenty of room for sitting area. Master bath offers double vanities, separate shower, custom stained glass over the garden tub and his & hers closets. You'll love the kitchen, with loads of cabinets, a large island with new updated overhead lighting, drop in flat surface ceramic stove new in 04, built in Microwave new in 08 & built in Oven new in Dec 07, Dishwasher new in Dec 07, Side by Side Refrigertor new in 04. The cabinets are oak and most have rollout drawers and dividers. Also, you'll find a built-in desk area, pantry & wine rack in the Kitchen. The Florida Room is off of the kitchen and makes a great playroom or office. Large storage closet, linen closet and large utility room with sink. Can't overlook the 2 water heaters new in 2004 & new AC motor in 04. The garage is oversized, comes with a utility sink, has a work bench equipped with TV outlet and has plenty of room to park 2 large SUV's. Pull down stairs to attic storage in garage. There is a golf cart storage room that could easily be made into an air conditioned work or craft room. Privacy fenced back yard with double gate great to pull your boat or RV into the rear of your home for storage. Lawn pump . Property information
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Caribbean Village, Bluewater Bay - Announcing a price reduction on 244 Antiqua Way, Niceville, FL 32578, a single story. Now - . Property information
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Bay Loop, Freeport - Announcing a price reduction on Shoreline, a 2,691 sq. ft., 2 bath, 3 bdrm single story "Sprawling floor plan!". Now  MLS® $725,000 - 153' Bayou Waterfront!. Property information
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Aerated Concrete Block Construction
• 2,074 sq. ft., 2 bath, 3 bdrm 2 story "Low utility bills! WOW" -  MLS® $499,000 - HUGE REDUCTION! Crystal Beach, Destin - Have you been looking for the perfect affordable beach cottage and haven't found it yet? You must see this darling home two blocks from the beach located in the desirable neighborhood of Crystal Beach. Not only is it charming, but it is built to withstand the strongest of winds, is termite proof, fire proof, soundproof and temperature efficient. Utility bills are minimal. Autoclaved Areated Concrete Block is the official name for this miracle block. Hebel block has recently made its way to the US and is becoming popular as a green house environmentally friendly home built ahead of its time. You can be upstairs making all kinds of noise and never hear anything downstairs. This home and its construction was featured in "This Old House" magazine. Enjoy the beach breezes on the wrap around front porch, walk to the beach or swim in the community pool. The spacious living area is great for entertaining. The master is upstairs with another bedroom that is used as the library, but there is another good sized bedroom and bath that could be the master downstairs. The office is set up with bookshelves and workstation, but could be converted into a fourth bedroom. The detached garage has 384 sq feet and there is also 253 sq. feet of covered porch. So whatever your needs whether it be permanent home, second home or rental property, this homes fits the bill. All demensions to be verified by buyer. Property information
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Crystal Beach, Destin - Announcing a price reduction on 4489 Clipper Cove, a 2,074 sq. ft., 2 bath, 3 bdrm 2 story "Low utility bills! WOW". Now MLS® $499,000 - HUGE REDUCTION!. Property information
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Gated community, cul-de-sac, great lot!
• 2 bath, 3 bdrm 2 story - MLS® $349,000 - What a great price! Windward, Bluewater Bay Property information
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Windward, Bluewater Bay - Announcing a price reduction on 303 Baywind, a 2 bath, 3 bdrm 2 story. Now MLS® $349,000 - What a great price!. Property information
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Helps Strapped Homeowners,
But It's Not Easy to Pull Off As more people fall behind on their mortgages, lenders have been slow to take advantage of a longstanding alternative to foreclosure -- a so-called short sale. At first glance, a short sale might seem like a win-win for everyone involved. In such an arrangement, the borrower sells the home for less than the amount owed, with the lender forgiving the difference. The sale releases borrowers from their obligations. For mortgage holders, it can be less costly than foreclosing -- and could provide protection against future price drops. For buyers, it can be a chance to buy a home at an attractive price. SELLING SHORT By RUTH SIMON and JAMES R. HAGERTY
April 17, 2008; Page D1 Short sales -- in which a homeowner sells a property for less than its loan value -- are tricky to pull off: • It can take weeks or months to get mortgage companies to respond to an offer. • Mortgage servicers may balk at the purchase price. • Homeowners may have more than one loan on the property, slowing the process. Short sales -- which were rare when the housing market was booming -- can also be a good way for lenders and investors to minimize losses. They typically result in losses of 19% of the loan amount, compared with an average loss of 40% for homes that are sold after foreclosure, according to a recent analysis by Clayton Holdings Inc., which tracks more than $500 billion in mortgage loans monthly for investors. The costs of foreclosure can include not only legal fees, but also taxes, insurance and the expense of maintaining the home until the property is sold and repairing any property damage. As the housing market continues to weaken, the number of short sales is edging upward. Short sales currently account for about 18% of home sales, according to the National Association of Realtors. But it can be extremely difficult to get these deals completed. Unlike a traditional real-estate sale, a short sale requires the approval of not only the buyer and the seller, but also the mortgage-servicing company. In many cases, loans have been packaged into securities -- which means that the mortgage servicer must consider the interests of the investors who own the loans. Deals can fall apart because the mortgage company rejects the price that has been agreed upon by the buyer and seller. Long delays in getting an answer from the mortgage servicer are another obstacle. The process can be so frustrating that some real-estate agents and home buyers have decided that a short sale isn't worth the effort. Shari Adams, a paralegal, bought a foreclosed three-bedroom house in Stuart, Fla., after she tried twice to buy a home being sold in a short sale. One deal fell through when the mortgage servicer turned down her offer after six weeks and didn't make a counteroffer. Another deal collapsed because it wasn't clear that the seller was truly facing a financial hardship. "I basically started to run away from any home listed as a short sale," Ms. Adams says. Low Success Rate The success rate for short-sale offers is low, real-estate agents say. Molly Kay Hamrick, president of Coldwell Banker Premier Realty in Las Vegas, estimates that 20% of short-sale offers in the area lead to completed sales, compared with 85% for more traditional sales. Redfin, an online real-estate brokerage based in Seattle, says it represented buyers on 65 short-sale offers in the first quarter but expects only two or three to result in a completed sale. Because so many deals fall through, Jean Manner Schwimmer of Coldwell Banker Gay Dales in Salinas, Calif., advises buyers making an offer on a short sale to put a clause in their contract that says the deposit can't be cashed until it is clear that the sale has been approved by the mortgage company and the contract has been signed. Many borrowers walk away in frustration because it takes so long to get a response from the mortgage company to their offer. Servicers take an average of 4½ weeks to provide an answer on a potential short sale, according to a recent survey of real-estate agents by Campbell Communications, with some taking two months or more to respond. By contrast, it takes an average of less than two weeks to get a response to an offer for a property that has been foreclosed on, the survey found. "To make the process work, you have to have a buyer who just wants that property and is willing to wait three to four months," says Beth Butler, chief operating officer of EWM Realtors, based in Miami. Alicia and Greg Green accepted a short-sale offer in December for a home in Los Angeles they had purchased as an investment. But the deal didn't close until late March because of delays in getting an answer from the mortgage servicer, Option One Mortgage Corp. At least two offers at higher prices fell through because of delays, says Bill Etchegaray, the couple's real-estate agent. "Luckily, we didn't lose the buyer," says Ms. Green. "I thought we would because the process took so long." The couple sold the home for $299,000, well below the $375,000 mortgage balance. They fell behind on their payments when the construction business Mr. Green owned went under. A spokeswoman for Option One pointed to the complexities of arranging short sales and said the company is pleased that the sale was successful. Coming up with what everyone agrees is a fair price can be tricky in a soft market. "Servicers are finding that people try to low-ball the sales price knowing that the property is distressed," says Vicki Vidal, a senior director with the Mortgage Bankers Association. Missed Opportunities But with home prices falling in many markets, a rejected short-sale offer may wind up as a missed opportunity. Donald Schriver, owner of Assist-2-Sell Good Sense Realty in suburban Phoenix, says a homeowner he was helping late last year was offered $190,000 for his house in a short sale but was unable to win approval from his mortgage company. The borrower later decided to abandon the four-bedroom house, which was built in 2005. The house is now in foreclosure, with an auction scheduled for June. Prices in the area have continued to fall, says Mr. Schriver, who believes that the most the home would now fetch is $180,000. A spokesman for Wells Fargo & Co., which services the loan, said the company "made several unsuccessful attempts to connect with the customer" and didn't turn down an offer for a short sale. Some mortgage-servicing companies are tightening up on short sales because they worry borrowers are rushing into these arrangements when there are better alternatives. In March, Ocwen Financial Corp., based in West Palm Beach, Fla., told its customers it would consider a short sale only after it had talked directly to the borrowers and determined there are no alternatives for keeping them in the home. "We are concerned that some of our customers are not given all the facts," says William Rinehart, the company's chief risk officer. "In some cases, it's represented to them that a short sale is the only solution to the problem they are in." Part of the problem may be that many mortgage servicers were ill-prepared for the spike in bad loans. As delinquencies have climbed, they have had to scramble to add staff. Mortgage companies say they prefer other means to help borrowers, such as a repayment plan or loan modification. Clearing Hurdles Gathering all the information needed to evaluate a short-sale offer can take time, says Patrick Carey, an executive vice president with Wells Fargo. The loan servicer must first determine whether the homeowner really can't continue meeting the loan payments, then get an appraisal or broker's opinion of the home's value. Mortgage servicers also try to ensure that the proposed sale is an "arm's length" transaction between two parties rather than, say, a sale to a relative on sweet terms. They must also determine whether the buyer has sufficient funds or the ability to get a loan. If all those hurdles are cleared, the servicer may still need to get approval from the investor that owns the loan and provide an analysis showing that the investor will be better off with a short sale than with another solution. There are additional complications if the borrower has a mortgage and a home-equity loan. In that case, both parties must approve the deal -- which is a challenge when the sales price may not even be enough to cover the mortgage balance. To minimize delays, Mr. Carey suggests that homeowners contemplating a short sale immediately call the loan servicer to get the approval process started, rather than wait for an offer. There are some signs that the process is getting smoother. In recent weeks, some mortgage companies have begun to approve short sales for borrowers who can show financial distress but haven't yet stopped making monthly payments, says Dan Elsea, president of brokerage services for Real Estate One in the Detroit area. Until recently, servicers wouldn't even consider a short sale unless a borrower was at least 60 days late. Fannie Mae and Freddie Mac, which own or guarantee nearly half of all outstanding U.S. mortgages, both say they are trying to streamline the short-sale process. Fannie Mae says that it plans to introduce a policy in the next few months under which real-estate brokers would be given an advance indication of the approximate minimum price that would be acceptable in a short sale, a move designed to quickly weed out offers that are too low. Freddie Mac says it has already given its top servicers more flexibility to accept short sales for homes backed by loans it guarantees or owns. Lehman Brothers Holdings Inc., another issuer of mortgage-backed securities, also is offering incentives in some cases for servicers to arrange short sales or loan modifications. Write to Ruth Simon at ruth.simon@wsj.com and James R. Hagerty at bob.hagerty@wsj.com Wendy Kotowske Access Mortgage Residential Lending Expert 850-830-5566 cell 850-337-7519 office
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Quail Run Townhomes, Destin - Announcing a rent/lease reduction on Airport Rd, a 1,385 sq. ft., 2 bath, 3 bdrm townhouse "2 story with garage". Now $1,100 Monthly - For Sale or Rent!. Property information
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• 900 sq. ft., 1 bath, 2 bdrm single story - $975 USD Monthly Indian Oaks, Destin - Lovely duplex unit for rent. Quiet neighborhood. Fenced yard with patio, full kitchen, dining area and living room with wood burning fireplace. NEWLY CARPETED neutral color to go with any decor. Tiled kitchen, baths and second bedroom. Refrigerator, washer and dryer included. Space for 2 cars. Call today to set up an appointment to view! Property information
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Indian Oaks, Destin - Announcing a rent/lease reduction on 223 Indian Oaks, a 900 sq. ft., 1 bath, 2 bdrm single story. Now $975 USD Monthly - . Property information
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Cardinal Estates, Largo - Announcing a price reduction on 2149 Hillary Lane, a 1,073 sq. ft., 2 bath, 3 bdrm single story "Brick and vinyl". Now MLS® $160,000 - Unbeatable Price!. Property information
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My wife and I are looking at purchasing an investment property in Destin. I have been looking on realtor.com but was wondering what information you could provide. I really like the idea of a condotel or some type of condo that is rented out to vacationers. We are looking for beach front or very close to a beach that would attract families on vacation. Do you have any suggestions? Jeff Hi Jeff and thanks for your recent email. You asked a very loaded question! Personally, I'm not a major fan of condotels. We may have 1 or 2 here, but a third was slated to happen and didn't because you could buy a nice studio or 1 bedroom near the beach for about the same price. And there is a mega-availability of units currently on the market that are such a better investment value. What we really need to determine is your price range. And then I can search from there. This area, Destin, is a vacation paradise. In the summer we are packed and units rent very well. There are alot of companies who do vacation rental management, charge a fee, but keep on top of getting the units rented out, cleaning after guests leave, doing any necessary maintenance and just keeping the place current. Destin proper, heart-of-Destin, or old Destin is mostly high rise condos on the Gulf of Mexico. There are some that properties that do very well and people come back to year after year. I believe Sundestin is a condohote and it does pretty well, altho I have never sold a unit in there. Pelican Beach Resort is also a very popular rental complex for families with lots of amenities and most units facing the gulf. Holiday Isle has Sandpiper Cove and that complex does well also. There are studio units available for about $150K. But the studios only sleep 2-3 people, so you aren't going to make a killing on them as far as coming out with a positive cash flow. In fact, right now, it may be difficult to come up with a positive cash flow with any of them unless you really pay a great low price for the unit, crunch the numbers, and come out even or ahead. If you buy, you get a good deal because it's a buyer's market, but you should plan to stay in it for a few years if you want to see a growth on your investment (and enjoy it as well as a second home or vacation getawy a few times a year). There are also townhome units along Scenic Hwy 98, further east of Destin proper, some slightly older, that are priced pretty well now, let's say mid $200's for a gulf view 1 bedroom. Then further east is Sandestin Resort, very popular, tons of amenities, but expensive (well I guess depending on what you can afford to spend), with maintenance fees, condo fees, and property management fees. Further east is Santa Rosa Beach, also very popular, and Grayton Beach, and I can dig up info on those areas too. Now going back to west of Destin and the Destin Bridge is Okaloosa Island, part of Ft Walton Beach, and there are numerous 6-story condo complexes there, right on the beach, also pretty popular for vacationers, and may be slightly lower priced because it is not as popular as being in Destin, where all the action is. In the winter, we have a big snowbird contingency, and rentals are based on several months occupancy and the per month price is lower than the high season summer rates. Our area is a little different than south FL, where our high season is summer and down there, the high season is winter. The area has grown tremendously in the past 7 years. Shopping is phenomenal, with Silver Sands Outlet Mall, Destin Commons mall, and a ton of other big name stores and new popular restaurants popping up all the time. It's definitely not a sleepy little fishing village anymore! But there is still a ton of that going on.
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With inground pool!
• 1,147 sq. ft., 2 bath, 3 bdrm ranch - MLS® $149,000 - Bring your imagination! Mary Esther, Okaloosa County - REDUCED and a SHORT SALE/Pre-Foreclosure!! Traditional old Florida charm waiting to be revived! This home offers many possibilities! All it needs is some TLC and it can be a terrific starter home or a rental property. The yard is totally enclosed by a new fence. And the pool deck has new brick pavers and new pool pump. The pool is sparkling clean for you to enjoy the rest of the summer season. The inside of the home has been newly tiled and the rest is up to your imagination! Currently occupied by tenants who are on a month to month lease. No homeowners association. Close to community park with kiddie park, baseball diamond and picnic pavillion. Walking distance to lots of amenities, including the Santa Rosa Mall.
Make an offer NOW! Property information
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