Planning a vacation to the Emerald Coast this summer? One property that is open all year round by Five Star Gulf Rentals is Cypress Breeze Plantation which, by size, is literally a plantation, with a 2100 square foot rental home and a 14,000 resort style pool. As the Emerald Coast is known for its beaches of white sand and emerald-green water, location, such as proximity to the beach, is important, and Cypress Breeze is a quarter mile away from Santa Rosa beach. Driving or walking, the beach is only a quick trip away.

The house itself is ideal as a quiet getaway from more busy locations like Destin and Panama City. With a Florida beach cottage design, Cypress Breeze Plantation is a three-story property with French doors, hardwood flooring, and granite countertops in the kitchen, as well as an outdoor carport for two cars. The rental property, in addition, has four bedrooms and four baths, designed to hold ten people, that are spread across 2100 square feet indoors. Outside, covered porches account for an additional 900 square feet to the property.

The main attraction, aside from the location, of Cypress Breeze is the swimming pool, a resort style swimming pool that is considered to be the largest in northwest Florida. The pool is the plantation for this property, with 14,000 square feet. The resort style includes waterfalls along the edge of the pool. Aside from the pool and proximity to the beach, the property is near local shopping destination Gulf Place.

As a sought after property for the beach, swimming pool, and laid back atmosphere, Cypress Breeze Plantation is available through Five Star Gulf Rentals for a week at a time during the summer months. If you’re looking to rent a house during the fall or winter, weekends, or three-day time periods, are available for you and up to nine other people to rent out Cypress Breeze.

Home values in South Walton and the rest of the Emerald Coast reflect the trends seen across the country. As seen with the past post detailing average home sales and prices for the month of May from 2000 to 2009, 2009 has seen a slight increase in comparison to the period from 2006 to 2008, in which homes sold – and prices – plummeted. But, is this brief increase from the first half of 2009 really anything to get excited about on the Emerald Coast? After all, it seems, many are coming to the area to rent but not to buy a home.

In a recent article published about home sales in South Walton, FL the writer finds that more homes are being sold around Walton county, as well as other areas of the Emerald Coast, and this is helped by low interest rates and the first-time homebuyers’ tax credit of up to $8,000. But, some realtors quoted in the article think that the real estate market, overall and South Walton included, has just simply hit the bottom and is just “bumping around” at the bottom. Nevertheless, statistics quoted in the article show that there’s an increase in people, particularly retired military, looking for homes in South Walton.

Of course, an increase in purchases also reflects the lower prices of the homes, due to the foreclosure crisis, and homes that are up for foreclosure or short sale that are being sold at lower prices. The Emerald Coast has its share of foreclosures and short sale homes and condos, some of which are 60-percent of the price from three years ago, and purchasing a home is more reasonable. But, is this recent upswing in sold properties an indication that the real estate market will be going up and recovering itself? Although the graphs from the last post indicate that it may be picking up from 2004, the time period of six months is too short to tell.

Taken from the JoshMcLeanHomes.com’s blog:

More graphs regarding median price and square feet per home can be found on the blog. All prices and homes sold are single family homes.

As many know, the price on a home has been a bell curve since 2004. In looking at these graphs, particularly the top one for the most recent monthly sales, May 2009, the prices for this past May reflect those from five years. What has changed since then? If you look at the lower graph for the amount of homes sold, the most homes were sold in 2004, when prices were at the lowest prior to 2009. Although these two graphs reflect the prices and amount of homes sold through JoshMcLeanHomes.com, they’re representative of the housing market since 2004. Prior to 2004, prices on homes weren’t terribly high and increased steadily from the late 1990s, when an average suburban home would have cost from $150,000 to $200,000 dollars.

What these graphs show is a visual representation of the rise and fall of the housing market over the past five years. 2004 shows low prices and more sales, while, as the prices nearly double by 2007, the amount of homes being sold drops. At this point, foreclosed properties also started taking off, with many purchased homes in 2004 now up for foreclosure due to the owner’s inability to make payments. And, with the plights of many owners of foreclosed, or pre-foreclosure homes, hitting the media, as well as the highest housing prices of the decade, purchasing homes dropped.

Although compared to 2004 not as many properties are being purchased, 2009 does show a slight upswing in regards to properties sold. When comparing this to the amount prices of homes sold, prices are currently at a low since 2004. The housing market, as seen by the content on this blog, has changed since 2004, however. While “foreclosure” was barely mentioned in 2004, many properties are foreclosures that are now being sold at a lower price than they were once valued. Unless home prices go up or unless adjustable rate mortgages (ARMs) become as common as they were 2004 to 2007, the housing market, even with foreclosures factored into the picture, should continue on a steady, natural rise, picking up where 2004 left off.

Needed a place to go over the holiday weekend? If you’re located in the South, Destin was one popular destination for the July 4th weekend. However, more traffic to Destin is a growing trend that has started at the beginning of 2009. As many articles regarding hotels and rentals in Destin can tell you, many factors have contributed to Destin becoming a more popular vacation location this year than in previous years. In fact, a recent poll done by PriceLine.com shows that Destin ranks in the top 50 vacation destinations in the US. This particular poll was based upon 30,000 or more hotel booking requests through Price Line, and, based on this information, Destin came in 38th out of 50 popular vacation spots.

Although the July 4th weekend is no exception compared to the rental trends seen in 2009, the overall traffic for the holiday went up, according to sources in the following articles, in comparison to a year ago. Most of the traffic to Destin has been from metropolitan areas that are roughly four to five hours away, including Southern cities like New Orleans and Birmingham, AL.

What are some of the factors contributing to this? Previous posts have covered the increased traffic and promotion of the area, but one of the primary factors is that people still want to take a vacation during the year. Gas prices have gone down since a year ago, although air prices have gone up somewhat, and taking a vacation can be done with a car. Destin hotels, resorts, and restaurants have also been doing deals to attract people to spend a few days at the beach. The beach, in addition, is the primary draw of Destin and, even with its white sands and emerald-green waters, going to the beach is free and other activities, such as golf, are cheaper. With financially-accessible hotels and rental properties, package deals for area activities, and a beautiful beach, what else is there to not want to visit Destin?

Homes aren’t the only properties in foreclosure at this point, and, in Destin, several condos are on the market as foreclosures. Have you wanted to move into the Destin area and are looking for permanent or vacation homes? At this point, as the foreclosure crisis has lowered home prices significantly since 2006, many Destin properties have lowered prices, and owning a beachfront condo is more affordable. Now that Destin has become a desirable vacation destination in Florida, owning a property in the area allows you access to the white sands and green colored waters of the gulf that the area is known for.

JoshMcLeanHomes.com has several foreclosed condos on the market at the moment. If a home is too big for your needs, a condo has the perfect amount of space for one or two people. All condos currently being sold through JoshMcLeanHomes.com are first floor properties in desirable locations around Destin. In terms of price, many of these properties cost as much as owning a home, but, space-wise, they vary from 1000 to over 2000 square feet and have three bedrooms on average. If you’re looking for a newer property to guarantee sturdiness and quality, all of the condos available at the moment were built after 2000.

For clarification about the quality of properties being offered, all condo foreclosures are labeled “as is,” “REO,” “in foreclosure,” or “short sale.” “As is” describes the property’s current condition; it’s being sold in the state it’s in, regardless of whether it has been cleaned up or not. In the case of condos, they don’t experience the same squatting and scavengers that go after copper that many empty foreclosed homes experience. “In foreclosure” means that, in the three-step foreclosure process, the property is past the pre-foreclosure stage and is already on the block for auction.

“Short sale,” however, is a slightly more ambiguous term. Basically, a short sale is an alternative to going through a full foreclosure, especially if the lender doesn’t think the home is up to the price for which it was purchased. Not all lenders do short sales, especially if foreclosure is a better decision. Property owners deciding to do a short sale may have the sale negatively impact their credit and the IRS could consider it “debt forgiveness” income. The lender, in addition, could pursue a borrower for the remainder of the amount owed, also referred to as a deficiency. The benefits of short sale are more for the person purchasing the property than the former residents choosing to do a short sale over a full foreclosure.

Destin is one of the most popular communities for vacationing along the Emerald Coast, but even with the housing crisis that has been going on since 2007, Destin was also hit. In a sense, with housing prices going down on many homes, including beach homes in Destin and other Emerald Coast towns, purchasing a permanent or vacation home is ideal at this point. Through JoshMcLeanHomes.com, a few properties are on the foreclosure market at the moment, including both homes and townhomes. If you’re looking for an oceanfront or waterfront property, both types are available. If you’re looking for something more affordable and in Destin, these types of foreclosed homes are available, as well.

The largest foreclosed properties available in Destin at the moment are foreclosed homes that can be described as “detached single family homes.” In the current properties available through JoshMcLeanHomes.com, all are waterfront properties of some type and all are relatively new homes, with the oldest home being built in 1992. The townhomes available aren’t waterfront properties, however, but, if you’re looking to be in Destin for access to the beach, one of these homes, which can be described as an attached single unit. These homes aren’t small, however, with one or two baths available, and they’re also relatively new, with the oldest property built in 1984.

All foreclosed properties listed are being sold either “As is” or “REO.” If you’re not familiar with housing or foreclosure terminology, REO stands for “real estate owned,” which means that the property has already been foreclosed and taken back by the mortgage lender, trustee, or bank. While many associate foreclosed homes with an auction, these homes are past the auction point and the price has been settled by the bank. At this point, these types of foreclosures are more common and, if you’re considering purchasing an REO foreclosed property, the price is typically twenty-percent off the home market value.

Many options are available for choosing a Gulf beach property to rent for a week or longer. Out of our selection of properties at Five Star Beach Properties, two stand out for offering ideal locations and luxury accommodations for their guests. Whether you want to be near Destin or close to the beaches of South Walton, we have such properties available as Palazzo and Lune Lac. Both are rental homes in beachfront locations that, aside from being a walk away from the beach, have such features as beachfront pools, indoor entertainment and bars, and a view of the ocean from the inside of the house.

Palazzo is located in Destiny-by-the-Sea, the top location for homes and rental properties along the Emerald Coast. This particular home, aside from being in a gated community, has seven beds and eight baths with 6,600 square feet. The property is the definition of luxury, with an interior including marble floors with inlay and a first floor overlooking the beach. Inside, other features include large dining areas, a private elevator, and entertainment options like a custom movie theater on the first floor. Outside, the property has a heated pool with a waterfall.

For a more intimate property, Lune Lac is the way to go, with a location on Highway 98 in South Walton. The location is ideal, as the property is both close to the beach and a short distance away from the Silver Sands Outlet Mall. Lune Lac is a gulf front rental house with five beds and baths with a private pool outdoors facing the beach. Inside, the house has two mini bars, two separate living areas, and 5,000 square feet of space. In addition to the ideal location and luxury accommodations, Lune Lac stands at the fore front with its view of the sunset on the beach. Whether you stay in or go outside, the view of the sunset on the beach is magnificent.

How has Destin been able to increase in traffic since the start of 2009? One option might be local promotion, according to a news item on EmeraldCoast.com about a Tallahassee television program. The television program, called Destination Destin is broadcast on WTXL, a station in Tallahassee. According to the news item, the vice president of WTXL traveled to Destin with his family and was enamored with the beaches and surrounding community of Destin and other Emerald Coast towns.

The television program focuses on news in the area to inform those in Tallahassee about all of the great aspects of Destin – beaches and entertainment options, both. The program, which goes live into Sandestin, reviews and promotes the beaches in the area, as well as dining, shopping, and entertainment options for visitors. The show has been on the air for about a month.

When promoting your community, one option for getting the word out is by word of mouth, and that’s essentially what the vice president of WTXL has been doing for Destin. But, rather than tell others that Destin “is really just a great place” when Florida has a number of vacation destinations, he provides the visuals and commentary by broadcasting the show live.

The popular vacation destination in 2009 has been the “staycation,” with people staying at home or going to close by destinations and, at the same time, Destin’s rental industry has increased to accommodate the amount of traffic it has been getting. With locals, and people from nearby states, wanting to take a vacation that is only a car trip away, a beach community like Destin is a sensible option. And, as in the case of the article, what turned out to be a simple car trip for the vice president of WTXL to Destin resulted in a television program telling all residents of Tallahassee and surrounding towns about Destin.

Over the past few weeks, we’ve covered how the rental aspect of real estate in Destin and other Emerald Coast communities is thriving in comparison to the falling housing market with unfinished developments in the area. This trend continues to grow, according to a recent press release issued by one of the area’s resorts. This aspect isn’t only in Destin and extends to other communities along the coast of northwest Florida, including South Walton and Panama City.

What is the result of this increase in rentals, be it in a beach house or in a resort community? One effect has been that rental companies like Five Star Beach Properties have acquired more beach properties in a variety of locations. In the case of our company, we have rental houses and condos along the beach and in the heart of Destin, Destiny-by-the-Sea, and South Walton. These range from affordable options for a week’s vacation to luxury rental homes with a private walk to the beach.

In the case of this press release, resorts have been moving their offices to expand the number of employees they need to maintain properties and manage inquiries regarding rentals.

As it seems, the vacation industry in Destin hasn’t been affected by the recession. Or, has it? Since the start of 2009, the number of people deciding to take vacations in Destin has jumped up sharply and, as a result, more rental space is needed. Whether it’s more condos and hotels or more luxury homes, rental companies have been expanding their options to meet the newly expanded market. The communities in Destin and South Walton, meanwhile, have expanded themselves to include more dining, shopping, and entertainment options for guests in town and, in some cases, the towns themselves have altered their appearances by expanding town squares and walkways for the increased traffic.