I just heard a speaker yesterday from Eglin Airforce Base, Col. Sal Nodjomian. Sal told us that there is a real need for military housing. Most of the pilots who will be relocating to our area will not want to buy. They will want to rent for a year. These pilots make excellent renters with excellent credit scores and the ability to pay. They get a housing allowance of $1,250 per month making the Okaloosa Rental Market extra attractive where monthly rents usually are less than this per month. As rentals become more in demand then rent prices will go up. We are almost there now. So what better time to invest in a rental property especially in Navarre, Shalimar, Ft. Walton Beach, and Crestview areas.
The F35 aircraft will take a year of training rotating pilots in and out of the area according to the Colonel. Currently there are only four such aircraft in the local area, but more will be coming. A total of 59 of them total. The base itself has about 900 housing units, but only 600 of these are habitable. An estimated 2,000 soldiers are moving to the area by 2014. Do you see the trend?
Here are sales by the numbers for August 2011 in Okaloosa County. Single Family Homes were up 37.80% over August 2010. For the year to date Single Family Homes are up 20.42%.
Attached Living or Townhomes and Condos were up 91.53% over same period last year. For the year so far they are up 49.52%.
The only category down was the sale of residential lots.
The number of foreclosures have remained steady and are actually up over last year by 21%
More good buys to come, but if you are an investor and looking for rental properties to rent out, now is the time to buy. The demand is already here and inventory is selling quickly.
If I can be of service to you, please don’t hesitate to call me. 850-420-2480
Kelly Klein, Buyer’s Representative, Lifeguard Real Estate, Inc.