No Comments

Real Estate in 2021, Three Reasons to be Optimistic – Emerald Coast RE

Real Estate in 2021

Experts forecast that buyers and sellers are going to be active in 2021.

Real Estate in 2021, Three  Reasons to be Optimistic

 

Real estate in 2021 looks positive along the Emerald Coast.  As we reflect on this last year, we have all been through a lot.  2020 will be remembered for many reasons, and optimism is one thing that’s been in short supply since the spring. We’re experiencing a global pandemic, social unrest, an economic downturn, and natural disasters, just to name a few. The challenges brought on by the health crisis have also forced many homeowners to reevaluate their space and what they need in a home going into 2021. So, experts are forecasting that next year is one in which we can be optimistic about real estate for three key reasons.

1. The Economy Is Expected to Continue Improving

Tim Duy from the University of Oregon puts it this way:

“There is nothing fundamentally ‘broken’ in the economy that needs to heal…there was no obvious financial bubble driving excessive activity in any one economic sector when the pandemic hit…With Covid-19 cases surging again, it is understandably hard to look optimistically to the other side of this winter…Don’t let the near-term challenges distract from the economic stage being set for next four years.”

2. Interest Rates Are Projected to Stay Low

In the latest projections from Freddie Mac, interest rates for a 30-year fixed-rate mortgage are expected to remain at or near 3% next year. These low rates will continue to make homes more affordable, driving demand for housing in 2021.3 Reasons to Be Optimistic about Real Estate in 2021 | MyKCM

3. Future Home Sales Are Forecasted to Grow while the economy improves and interest rates remain low, homes are also expected to continue appreciating as more people buy in the coming year. Danielle Hale, Chief Economist at realtor.comsays:

“We expect home sales in 2021 to come in 7.0% above 2020 levels, following a more normal seasonal trend and building momentum through the spring and sustaining the pace in the second half of the year.”

Bottom Line

Experts forecast that buyers and sellers are going to be active in 2021. If you’ve thought about buying or selling your home this year but have held off, now may be the time to take advantage of this market. Let’s connect to take the first step toward your new home today.

To learn more, reach out to our team.  With two office locations, Life’s A Beach Real Estate located in Panama City Beach.  And Life’s A Beach Luxury Real Estate located in Destin.  We are here to help you find your piece of paradise.

 

 

 

No Comments

Holiday Season Along the Emerald Coast

Holiday Season

One would think that December along the Gulf Coast would not be festive. Well, I can attest, it is joyful, it is beautiful…and it is the best place to celebrate the Holidays.

The Holiday Season Along the Emerald Coast.

“It’s the most wonderful time of the year…”

One would think that December along the Gulf Coast would not be festive. Well, I can attest, it is joyful, it is beautiful…and it is the best place to celebrate the Holidays.  In my opinion, Christmas shopping at Pier Park or the Silver Sands is the best way to shop.

Rather than being stuck inside a brick and mortar mall, you walk the shops’ sidewalks in the outdoor malls. 

The weather is mild, the salt air is festive, and the shops and streets play joyful Christmas songs. No better way to get in the Holiday Spirit!

The beaches are quieter, with plenty of activity from people who want to spend the Holidays at the beach.

The start of snowbird season.

The majority of our snowbirds have not come down yet, although some early bird snowbirds are migrating down. We are always happy to see them come back as they are part of our community!

I bring up snowbirds along the Emerald Coast, as they are an essential demographic for the local economy and our vacation property investors.

Many snowbirds come to the Emerald Coast along the Panhandle starting in November when the beach vacation season winds down. They stay in our local areas anywhere from 2 – 5 months, and they come back year after year. The snowbirds eat at our local restaurants, and they occupy our vacation rentals when reservations can be sporadic.

As a result, property investors along the Emerald Coast appreciate our snowbirds.

Life’s A Beach brokerage has developed relationships with many snowbirds.  We are a direct line of contact who might have an available vacation property to rent.

Helping snowbirds connect with investment property owners is a win-win, as we are helping our investors on their return on investment. And we are assisting snowbirds in enjoying their time living the dream in paradise along the Panhandle.

Update on the “Diamond In The Rough”

Speaking of investment property, here is an update on our “diamond in the rough.” Flooring, paint, crown molding, new showers, and cabinets are all completed! Now we wait for,…wait for it…the quartz countertops. They need to be measured, cut, and then installed. We are getting there; we now have a projected timeline of being complete in January.

We are getting there! And I can’t wait to share the before and after pictures!!

 

Connect With Life’s A Beach Real Estate

To learn more, reach out to the Life’s A Beach Real Estate team. We are here to help you find your piece of paradise.  We have agents in Panama City Beach and surrounding areas.  As well as the Destin San Destin 30A area.

 

 

 

No Comments

Remote Work Driving Sales Of Vacation Homes

Vacation Homes

Buyers are taking advantage of the fact, that working from home might be someplace other than their primary residence. Many are relocating to the beaches along the Emerald Coast.

Remote Work Driving Vacation Home Sales

This year, the opportunity to work remotely has increased the demand for vacation homes. Gay Cororaton, Senior Economist and Director of Housing and Commercial Research at the National Association of Realtors (NAR) notes:

“Working from home is a positive factor in demand for vacation homes.”

What does this mean for real estate along the Emerald Coast?

Buyers are taking advantage of the fact that working from home might be someplace other than their primary residence – at the beach, along the Emerald Coast, in the mountains, or somewhere in between. NAR explains:

Sales in vacation-home counties increased 48% on average year over year in the third quarter; overall, 81% of vacation-home counties saw a year-over-year sales increase.”

Is it Time to Sell Your Vacation Home?

If you’ve been thinking about selling your vacation home, putting it on the market now while demand is high might be your best move. Here are two reasons why.

1. Vacation Homes Are Selling Quickly

Homes and condos are not staying in the market for very long. NAR also notes:

In September, 68% of vacation homes sold in less than a month. Historically, about 30% sell that quickly…It’s a pretty amazing uptick compared to past years.”

2. Home Prices Are Rising

With an increase in demand, prices go up. NAR continues:

“In the third quarter, prices in vacation-home counties rose by about 32% year over year. Seventy-nine percent of these counties experienced year-over-year price gains. NAR defines a vacation-home county as one in which seasonal housing accounts for at least 20% of stock.”

If your vacation home is sitting idle, maybe not attracting as many renters as you usually see, or if you simply want to sell it so you can trade up or take it off your worry list, now may be the time. Demand is high, so you’re in the ideal spot to get a stronger return on your investment today.

Bottom Line

Demand is on the rise, so let’s discuss your next steps when it comes to selling your vacation home.

To learn more, reach out to our team.  With two office locations, Life’s A Beach Real Estate located in Panama City Beach.  And Life’s A Beach Luxury Real Estate located in Destin.  We are here to help you find your piece of paradise.

 

 

 

No Comments

Reasons to Sell – Selling Along The Emerald Coast

Reasons to SELL this holiday season.

Selling along the Emerald Coast.

REMEMBER – Buyers are actively in the market during the holidays…and inventory is low.

Have you been thinking about selling?

Well, the holidays are a special time to many…after all, it is the most “Wonderful Time of the Year.”

You might not be aware that, even during the holidays, many are looking for their new home.  That is just one of the many reasons to sell along the Emerald Coast right now.  Another great reason to sell right now along the Emerald Coast is…we do not have to worry about the “cold weather, snowy months.”  As you know, most move to our area not just because of our spectacular beaches, but also because of our weather.

  If you are thinking of selling, now is the time.  Click here for some top ten tips for selling your home during the holidays.

“Home is where the heart is.”

 

Take a moment to watch this short video on why the holiday season is a great time to sell.

 

Life’s A Beach Real Estate team would like to welcome you to their communities and welcome you home!   We are here to help through the holidays, and we hope to help you meet your real estate needs. 

You can find us in two locations along the Emerald Coast.  We have offices located in Panama City Beach, FL, as well as Destin, FL.  Our mission is to help you “find your piece of paradise” along the Emerald Coast.  And with access and insight on all of the best real estate along the Emerald Coast, we can help you make your real estate needs happen.

No Comments

Will Mortgage Rates Remain Low Next Year?

Mortgage Rates

In 2020, buyers got a big boost in the housing market as mortgage rates dropped throughout the year, which is good news for the PCB Real Estate Market.

Will Mortgage Rates Remain Low Next Year?

In 2020, buyers got a big boost in the housing market as mortgage rates dropped throughout the year. According to Freddie Mac, rates hit all-time lows 12 times this year, dipping below 3% for the first time.  Making buying a home or condo along the Panhandle’s Emerald Coast more and more attractive as the year progressed (See graph below):

Will Mortgage Rates Remain Low Next Year? | MyKCMWhen you continually hear how rates are hitting record lows, you may be wondering: Are they going to keep falling? Should I wait until they get even lower?

The Challenge With Waiting.

The challenge with waiting is that you can easily miss this optimal window of time and then end up paying more in the long run.  Not to mention, you may miss out on the perfect Emerald Coast beach home.  Last week, mortgage rates ticked up slightly. Sam Khater, Chief Economist at Freddie Mac, explains:

Mortgage rates jumped this week as a result of positive news about a COVID-19 vaccine. Despite this rise, mortgage rates remain about a percentage point below a year ago.”

Mortgage Rates Are Still Lower Today Than They Were One Year Ago.

As the economy continues to get stronger and the pandemic is resolved, there’s an excellent chance that interest rates will rise again.  Several top institutions in the real estate industry are projecting an increase in rates over the next four quarters (See chart below):Will Mortgage Rates Remain Low Next Year? | MyKCM

If you’re planning to wait until next year or later, Mike Fratantoni, Chief Economist at the Mortgage Bankers Association (MBA), forecasts mortgage rates will begin to rise steadily.Will Mortgage Rates Remain Low Next Year? | MyKCM As a buyer, you need to decide if waiting makes financial sense for you.

Bottom Line

If you’re planning to buy a home or condo along the Emerald Coast, don’t wait.  Take advantage of today’s low rates. Now is the time to do so. Please don’t assume they’re going to stay this low forever.

 

To learn more, reach out to the Life’s A Beach Real Estate team. We are here to help you find your piece of paradise.  We have agents in Panama City Beach and surrounding areas.  As well as the Destin San Destin 30A area.

 

 

 

No Comments

Working From Home?

Working From Home

Working from home, PCB style.  Businesses all over the country have figured out how to operate remotely and the trend may continue. What better area to work from than Panama City Beach!

Why Working from Home May Spark Your Next Move

If you’ve been working from home this year, chances are you’ve been at it a little longer than you initially expected. Businesses all over the country have figured out how to operate remotely to keep their employees healthy, safe, and productive. For many, it may be carrying into next year and possibly beyond.

While the pandemic continues, Americans re-evaluate their homes, floorplans, locations, needs, and more. Some need more space, while others need less. Whether you’re renting or own your home, if remote work is part of your future, you may be thinking about moving, especially while today’s mortgage rates are so low.

Why Move To Panama City Beach?

Now, if you live in the Panama City Beach area, odds are you do not want to move away if you have the option of working from home…However, if your work-life allows a move to PCB, now is the time!  Imagine taking that zoom call while sitting on your deck overlooking The Gulf of Mexico!  Or maybe you are sitting out by your pool…why not enjoy the beach life work life!!

A recent study from Upwork notes:

“Anywhere from 14 to 23 million Americans are planning to move as a result of remote work.”

To put this into perspective, last year, 6 million homes were sold in the U.S. This means roughly 2 – 4X as many people are considering moving now, and there’s a direct connection to their ability to work from home.

The same study also notes while 45.3% of people are planning to stay within a 2-hour drive from their current location, 41.5% of the people who are citing working from home as their primary reason for making a move are willing to look for a home more than 4 hours away from where they live now (See graph below):Why Working from Home May Spark Your Next Move | MyKCM In some cases, moving a little further away from your current location might mean you can get more home for your money. If you can work remotely, you may have more options available by expanding your search. Upwork also indicates, of those surveyed:

“People are seeking less expensive housing: Altogether, more than half (52.5%) are planning to move to a house that is significantly more affordable than their current home.”

Whether you can eliminate your daily commute to the office or you need more space to work from home, your plans may be changing. If that’s the case, it’s time to connect with a local real estate professional to assess your evolving needs and determine your path together.

Bottom Line

This has been a year of change, and what you need in a home is no exception.  This year has taught us to appreciate the little thing’s in life more.  Don’t wait…buy the beach house…in PCB!  Let’s connect today to ensure you have expert guidance on your side to help you find a home that fits your remote work needs.

To learn more, reach out to the Life’s A Beach Real Estate team. We are here to help you find your piece of paradise.  We have agents in Panama City Beach and surrounding areas.  As well as the Destin San Destin 30A area.

 

 

 

No Comments

Welcome Home – Buying A Home Along The Emerald Coast

Welcome, Home!  The Economic Impact of Buying a Home.

When you buy a home, you make an economic and social impact in the Emerald Coast communities.

For every existing home sale, 1/6 of a new homes’ value is added to the economy“. – National Association of Realtors

Check out the state by state economic impact report.

There is no doubt, having a sense of community unites us. Being a part of a community helps us in becoming something greater than ourselves. As we connect with people, we learn more about ourselves and others.

Every person needs to have a sense of community.

 

Take a moment to watch this short video on how your home purchase contributes to your community.

 Life’s A Beach Real Estate team would like to welcome you to their communities, welcome home!   There are always opportunities to make a difference in your community, reach out to us if you are looking for opportunities to serve you, neighbor!  We have office locations in Panama City Beach, FL, as well as Destin, FL.  We are always here to help and look forward to hearing from you.

No Comments

What Is Panama City Beach Like In November?

In November

In November, the hurricane season is winding down, the weather is still lovely, and the beaches are beautiful.

In November, What Is Panama City Beach Like?

Panama City Beach in November is spectacular!

The hurricane season is winding down, the weather is still lovely, and the beaches are beautiful.

One of the big attractions in Panama City Beach in November is Emerald Coast Cruizin Car Show. This year the event is scheduled for November 11 -14th…if you haven’t made your plans to attend the event yet, you really should. Or find a spot to pop a squat on Front Beach Rd, and watch the parade of classic cars driving by. And hey, on that note, you could pop a squat on the patio in front of our Life’s A Beach Real Estate office located in the Origin At Seahaven condominium building next to Saltwater Marketplace directly across the street from Sharkey’s. And if you do, stop in and say Hi! 

Renovation Update

Segueing from what’s happening in November in Panama City Beach, just a quick update on our RENOVATION project. The contractors are currently piecing back together after the condo’s complete gutting and incorporating the design upgrades. 

Check out the progress on the photo updates Progress photos 11.7.

When I have before and after pictures after the renovation are complete to share, I will.  And of course, I cannot wait for it to get done so I can share it!

 

More Events In November

Ok, back to what’s happening in Panama City Beach in November? This past weekend, Nov 7th, was the IRONMAN Florida event. While I envy the dedication of the athletes that attend this event every year…I can’t imagine how challenging it would be to go through those races! I mean, they start in the morning swimming in the Gulf of Mexico, followed by a bicycle course on the streets of Panama City Beach and surrounding areas. After that is the running event, which takes the athletes through St. Andrew’s State Park, a magnificent setting; the athletes could not ask for a better location than our beautiful city PCB to compete. 

Ok, Ok…I have to wonder if any of the athletes end up at the Grand Lagoon Bloody Mary & Music Fest when they finish competing…? Which was also this past weekend. My pick of the two events was the Music Fest…this This is the 5th year that they celebrated bloody marys and music in Panama City Beach.

Those are just some highlighted events, be there is so much more happening in November. Happy Hour, Low Country Boil, Off The Hook Comedy, Paint Parties, Scavenger Hunt…and much more. Check out Panama City Beach Events to learn more.

PCB Real Estate

With all of that, we haven’t even mentioned the state of the real estate market in Panama City Beach and surrounding areas. Even though the temps are cooling, the PCB real estate market is staying HOT! Our agents are receiving same-day offers on new listings, and the inventory remains tight, and prices continue to appreciate! 

To learn more, reach out to the Life’s A Beach Real Estate team. We are here to help you find your piece of paradise.  We have agents in Panama City Beach and surrounding areas.  As well as the Destin San Destin 30A area.

 

 

 

No Comments

Home Price Appreciation – PCB & Destin Area Real Estate Market Outlook

Experts Project Home Price Appreciation Into Next Year

Experts agree the 2021 forecast is calling for continued home price appreciation.

“One of the main drivers of the strong housing recovery is historically low mortgage interest rates. The U.S. weekly average 30-year fixed mortgage rate hit an all-time low of 2.86% in the second week of September”. – Freddie Mac 

 

“The CoreLogic HPI Forecast indicates that home prices will increase on a month-over-month basis by 0.2% from September 2020 to October 2020, and on a year-over-year basis by 0.2% from September 2020 to September 2021”. – CoreLogic

 

That is great news for homeowners looking to sell to capitalize on the equity in their homes.  If you are a buyer on the fence right now, you might want to think about moving forward on your purchase to take advantage of appreciation equity, possibly.  And, whether you are a buyer or seller, a strong housing market is always good news.

Take a moment to watch this short video about home price appreciation.

If you want to learn more about the value of your home, or are in the market to purchase a home, reach out to the Life’s A Beach Real Estate team to learn more.  We have locations in Panama City Beach, FL, as well as Destin, FL.  We are always here to help and look forward to hearing from you.

No Comments

Election 2020 Panama City Beach Real Estate Market Outlook

Election 2020

Tomorrow is the day, election 2020.  Americans will decide our President for the next four years. That decision will have a major impact on many aspects of life in this country, but the residential real estate market in the Panama City Beach area and surrounding areas will not be one of them.

4 Reasons Why Election 2020 Won’t Dampen the Panama City Beach Housing Market

 

 

Analysts will try to measure the impact of election 2020 and possible changes in regulations.  The experts will be watching how the potential changes might have an impact on housing programs.  Despite potential changes,  the housing market overall and in Panama City Beach will remain strong for four reasons:

1. Demand Is Strong among Millennials

The nation’s largest generation began entering the housing market last year.  As they reached the age to marry and have children – two key drivers of homeownership. As the Wall Street Journal recently reported:

“Millennials, long viewed as perennial home renters who were reluctant or unable to buy, are now emerging as a driving force in the U.S. housing market’s recent recovery.”

2. Mortgage Rates Are Historically Low

All-time low-interest rates are also driving demand across all generations. Strong demand created by this rate drop has countered other economic disruptions (e.g., pandemic, recession, record unemployment).

In addition, Freddie Mac just forecasted mortgage rates to remain low through next year:

“One of the main drivers of the strong housing recovery is historically low mortgage interest rates…Given weakness in the broader economy, the Federal Reserve’s signal that its policy rate will remain low until inflation picks up, and no signs of inflation, we forecast mortgage rates to remain flat over the next year. From the third quarter of 2020 through the end of 2021, we forecast mortgage rates to remain unchanged at 3%.”

3. Prices Continue to Appreciate

The continued lack of supply of existing homes for sale coupled with the surge in buyer demand has experts forecasting strong price appreciation over the next twelve months.

4. History Says So

Though it’s true that the market slows slightly in November when it’s a Presidential election year, the pace returns quickly. Here’s an explanation as to why from the Homebuilding Industry Report by BTIG:

“This may indicate that potential homebuyers may become more cautious in the face of national election uncertainty. This caution is temporary, and ultimately results in deferred sales, as the economy, jobs, interest rates and consumer confidence all have far more meaningful roles in the home purchase decision than a Presidential election result in the months that follow.”

Ali Wolf, Chief Economist for Meyers Research, also notes:

“History suggests that the slowdown is largely concentrated in the month of November. In fact, the year after a presidential election is the best of the four-year cycle. This suggests that demand for new housing is not lost because of election uncertainty, rather it gets pushed out to the following year as long as the economy stays on track.”

Bottom Line

No matter the timing, when you are ready to enter the real estate market in Panama City Beach or surrounding areas, reach out to the Life’s A Beach Real Estate team.  We are here to help you find your piece of paradise.