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Top Reasons to Own Your Home – Emerald Coast Real Estate

Top Reasons to Own Your Home

Real Estate along the Emerald Coast.

 This is National Homeownership Month, take the time to appreciate everything owning your home has to offer.

If you are thinking about buying real estate along the Emerald Coast, now is the time.  Ask yourself, what is your TOP REASON to own your home?

Our brokerage is here to help you reach your real estate goals.  Buyers now is the time to act and act quickly.  Sellers, if you are thinking about selling in Panama City Beach or along the Emerald Coast, now would be a good time while the market is HOT.

 

We hope you took a brief moment to watch this short video about “Top Reasons to Own Your Home.”  

If you would like to discuss further the real estate market in Panama City Beach or along the Emerald Coast, please reach out to us. 

 Life’s A Beach Real Estate team is a full-service brokerage with experienced agents.  We are here to help you with all your real estate needs.  

You can find us in multiple locations along the Emerald Coast.  We have three offices in Panama City Beach, FL, and one office in 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.

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Time To Take Advantage of Historically Low Mortgage Rates – Emerald Coast Real Estate

There’s Still Time To Take Advantage of Historically Low Mortgage Rates

Real Estate along the Emerald Coast.

 Today’s mortgage rates are still incredibly low compared to the historical norm.  

If you are thinking about buying real estate along the Emerald Coast, now is the time to act.  It is challenging for buyers right now due to the low inventory…however, the low-interest rates are hard to pass up!

Our brokerage is here to help you reach your real estate goals.  Buyers now is the time to act and act quickly.  Sellers, if you are thinking about selling in Panama City Beach or along the Emerald Coast, now would be a good time while the market is HOT.

 

We hope you took a brief moment to watch this short video about “Taking Advantage of Historically Low Mortgage Rates.”  

If you would like to discuss further the real estate market in Panama City Beach or along the Emerald Coast, please reach out to us. 

 Life’s A Beach Real Estate team is a full-service brokerage with experienced agents.  We are here to help you with all your real estate needs.  

You can find us in multiple locations along the Emerald Coast.  We have three offices in Panama City Beach, FL, and one office in 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.

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In Today’s Market Listing Prices Are Like an Auction’s Reserve Price – Emerald Coast Real Estate

Listing Prices

In Today’s Market, Listing Prices Are Like an Auction’s Reserve Price…

  If you are a buyer or a seller in today’s real estate market in Panama City Beach or along the Emerald Coast, we are in interesting times.  Trends that we are used to having changed.  It used to be listing prices for sellers holding a cushion amount to allow the buyer to negotiate down to the anticipated offer the seller would accept.  However, now in many situations, the listing price is the starting point of the negotiation process as the bidding wars ensue.   

In Today’s Market, Listing Prices Are Like an Auction’s Reserve Price

In Today’s Market, Listing Prices Are Like an Auction’s Reserve Price | MyKCM

For generations, the process of buying and selling a home never really changed. A homeowner would try to estimate the market value of their house, then tack on a little extra to give themselves some negotiating room. That figure would become the listing price. Buyers would then try to determine how much less than the full price they could offer and still get the home. As a result, the listing price was generally the ceiling of the negotiation. The actual sales price would almost always be somewhat lower than what was listed. It was unthinkable to pay more than what the seller was asking.

Today is different.

The record-low supply of homes for sale coupled with very strong buyer demand is leading to a rise in bidding wars on many homes. Because of this, homes today often sell for more than the list price. In some cases, they sell for a lot more.

According to Lawrence YunChief Economist at the National Association of Realtors (NAR):

“For every listing there are 5.1 offers. Half of the homes are being sold above list price.”

You may need to change the way you look at the asking price of a home.

In this market, you likely can’t shop for a home with the former approach of negotiating to a lower price.

Due to the low supply of houses for sale, many homes are now being offered in an auction-like atmosphere in which the highest bidder wins the home. In an actual auction, the seller of an item agrees to take the highest bid, and many sellers set a reserve price on the item they’re selling. A reserve price is the minimum amount a seller will accept as the winning bid.

When navigating a competitive housing market, think of the list price of the house as the reserve price at an auction. It’s the minimum the seller will accept in many cases. Today, the asking price is often becoming the floor of the negotiation rather than the ceiling. Therefore, if you really love a home, know that it may ultimately sell for more than the sellers are asking. So, as you’re navigating the homebuying process, make sure you know your budget, know what you can afford, and work with a trusted advisor who can help you make all the right moves as you buy a home.

Bottom Line

Someone who’s more familiar with the housing market of the past than that of today may think it’s foolish to offer more for a home than the listing price. However, frequent and competitive bidding wars are creating an auction-like atmosphere in many real estate transactions right now. Let’s connect today so you have a trusted real estate professional on your side to provide the best advice on how to make a competitive offer on a home.

 

Do you have further questions regarding making a winning offer?  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 answer your questions and help you find your piece of paradise.

 

 

 

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Time To Take Advantage of Historically Low Mortgage Rates – Emerald Coast Real Estate

There’s Still Time To Take Advantage of Historically Low Mortgage Rates

Real Estate along the Emerald Coast.

 Today’s mortgage rates are still incredibly low compared to the historical norm.  

If you are thinking about buying real estate along the Emerald Coast, now is the time to act.  It is challenging for buyers right now due to the low inventory…however, the low-interest rates are hard to pass up!

Our brokerage is here to help you reach your real estate goals.  Buyers now is the time to act and act quickly.  Sellers, if you are thinking about selling in Panama City Beach or along the Emerald Coast, now would be a good time while the market is HOT.

 

We hope you took a brief moment to watch this short video about “Taking Advantage of Historically Low Mortgage Rates.”  

If you would like to discuss further the real estate market in Panama City Beach or along the Emerald Coast, please reach out to us. 

 Life’s A Beach Real Estate team is a full-service brokerage with experienced agents.  We are here to help you with all your real estate needs.  

You can find us in multiple locations along the Emerald Coast.  We have three offices in Panama City Beach, FL, and one office in 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.

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Cash In by Selling Your Second Home – Emerald Coast Real Estate

Cash In on Today’s Housing Demand by Selling Your Second Home.

Real Estate along the Emerald Coast.

 Is it time to move on from your beach home?  Is the upkeep getting to be too much? Maybe it is no longer ideal to worry about renters to help offset the costs involved in owning your second home?

In today’s real estate market in Panama City Beach or along the Emerald Coast it is the optimum market for sellers.   If you have been thinking about selling, now is the time for you to take advantage of the housing demand to “cash-out”. 

Our brokerage is here to help you reach your real estate goals.  Sellers, if you are thinking about selling in Panama City Beach or along the Emerald Coast, now would be a good time while the market is HOT.

 

We hope you took a brief moment to watch this short video about “cashing in”.  

If you would like to discuss further the real estate market in Panama City Beach or along the Emerald Coast, please reach out to us. 

 Life’s A Beach Real Estate team is a full-service brokerage with experienced agents.  We are here to help you with all your real estate needs.  

You can find us in multiple locations along the Emerald Coast.  We have three offices in Panama City Beach, FL, and one office in 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.

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Are You Ready For A Bidding War? – Emerald Coast Real Estate

Are You Ready For A Bidding War?

Real Estate along the Emerald Coast.

In today’s real estate market in Panama City Beach or along the Emerald Coast it is critical to be prepared for a bidding war.  You do not want to lose out on your dream beach home because you were not prepared.

Our brokerage is here to help you reach your real estate goals.  Buyers need to be prepared if they are planning on buying property in Panama City Beach or along the Emerald Coast.

“Home is where the heart is.”

 

We hope you took a brief moment to watch this short video about being prepared for a bidding war.  

If you would like to discuss further the real estate market along the Emerald Coast, please reach out to us. 

 Life’s A Beach Real Estate team is a full-service brokerage with experienced agents.  We are here to help you with all your real estate needs.  

You can find us in multiple locations along the Emerald Coast.  We have three offices in Panama City Beach, FL, and one office in 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.

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Sellers Are Ready to Enter the Housing Market – Emerald Coast Real Estate

housing market

Sellers Are Ready To Enter the Housing Market…

  If the expert’s forecast is correct, that is good news for buyers interested in real estate in Panama City Beach or along the Emerald Coast.  For those buyers that have lost out on multiple beach homes, the thought of more inventory gives them hope!

If you have been following our blog, we continue to talk about the seller’s market we are experiencing.  And if you are a seller and are wondering about waiting too long to put your beach house or beach condo on the market, it is worth considering that your house or condo may have more competition; and what impact that will have when you decide to sell.

Sellers Are Ready To Enter the Housing Market

One of the biggest questions in real estate today is, “When will sellers return to the housing market?” An ongoing shortage of home supply has created a hyper-competitive environment for hopeful buyers, leading to the ultimate sellers’ market. However, as the economy continues to improve and more people get vaccinated, more sellers may finally be in sight.

The Home Purchase Sentiment Index (HPSI) by Fannie Mae recently noted the percentage of consumer respondents who say it’s a good time to sell a home increased from 61% to 67%. Doug Duncan, Senior Vice President and Chief Economist at Fannie Maeindicates:

Consumer positivity regarding home-selling conditions nearly matched its all-time high.” (See graph below):

Sellers Are Ready To Enter the Housing Market | MyKCMFannie Mae isn’t the only expert group noticing a rise in the percentage of people thinking about selling. George Ratiu, Senior Economist at realtor.comshares:

“The results of a realtor.com survey . . . showed that one-in-ten homeowners plans to sell this year, with 63 percent of those, looking to list in the next 6 months. Just as encouragingly, close to two-thirds of sellers plan to sell their homes at prices under $350,000, which would offer a tremendous boost to affordable housing for first-time buyers.”

Bottom Line

If you’re considering selling your house, don’t wait for more competition to pop up in your neighborhood. Let’s connect today to explore the benefits of selling your house now before more homes come to the market.

 

Do you have further questions regarding making a winning offer?  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 answer your questions and help you find your piece of paradise.

 

 

 

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Americans Favor Homeownership as an Investment -Emerald Coast Real Estate

Americans Favor Homeownership as an Investment

Real Estate along the Emerald Coast.

Given the option, most Americans would prefer to invest in homeownership than in stocks.  The Emerald Coast with its white sandy beaches and emerald waters is the perfect location for your investment!

Our brokerage has worked with countless investors in purchasing property along the Emerald Coast.  It is a passion for us to share our love of the Emerald Coast and why it is a prime investment market.

“Home is where the heart is.”

 

We hope you took a brief moment to watch this short video on as to why Americans favor homeownership as an investment.  

If you would like to discuss further the real estate market along the Emerald Coast, please reach out to us. 

 Life’s A Beach Real Estate team is a full-service brokerage with experienced agents.  We are here to help you with all your real estate needs.  

You can find us in multiple locations along the Emerald Coast.  We have three offices in Panama City Beach, FL, and one office in 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.

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Experts Say Home Prices Will Continue to Appreciate – Emerald Coast Real Estate

Home Prices Will Continue to Appreciate

Experts Say Home Prices Will Continue to Appreciate.

Last week we talked about Panama City Beach, and Emerald Coast, housing market.  We highlighted how competitive it is, home buyers have to face the possibility of increased interest rates.  This week we are continuing the discussion regarding the challenges home buyers face in our competitive housing market with the expectation that home prices will continue to appreciate.      

Experts Say Home Prices Will Continue to Appreciate

It’s clear that consumers are concerned about how quickly home values are rising. Many people fear the speed of appreciation may lead to a crash in prices later this year. In fact, Google reports that the search for “When is the housing market going to crash?” has actually spiked 2450% over the past month.

In addition, Jim Dalrymple II of Inman News notes:

“One of the most noteworthy things that came up in Inman’s conversations with agents was that every single one said they’ve had conversations with clients about whether or not the market is heading into a bubble.”

To alleviate some of these concerns, let’s look at what several financial analysts are saying about the current residential real estate market. Within the last thirty days, four of the major financial services giants came to the same conclusion: the housing market is strong, and price appreciation will continue. Here are their statements on the issue:

Goldman Sachs’ Research Note on Housing:

“Strong demand for housing looks sustainable. Even before the pandemic, demographic tailwinds and historically-low mortgage rates had pushed demand to high levels. … consumer surveys indicate that household buying intentions are now the highest in 20 years. … As a result, the model projects double-digit price gains both this year and next.”

Joe Seydl, Senior Markets EconomistJ.P.Morgan:

“Homebuyers—interest rates are still historically low, though they are inching up. Housing prices have spiked during the last six-to-nine months, but we don’t expect them to fall soon, and we believe they are more likely to keep rising. If you are looking to purchase a new home, conditions now may be better than 12 months hence.”

Morgan Stanley, Thoughts on the Market Podcast:

“Unlike 15 years ago, the euphoria in today’s home prices comes down to the simple logic of supply and demand. And we at Morgan Stanley conclude that this time the sector is on a sustainably, sturdy foundation . . . . This robust demand and highly challenged supply, along with tight mortgage lending standards, may continue to bode well for home prices. Higher interest rates and post pandemic moves could likely slow the pace of appreciation, but the upward trajectory remains very much on course.”

Merrill Lynch’s Capital Market Outlook:

“There are reasons to believe that this is likely to be an unusually long and strong housing expansion. Demand is very strong because the biggest demographic cohort in history is moving through the household-formation and peak home-buying stages of its life cycle. Coronavirus-related preference changes have also sharply boosted home buying demand. At the same time, supply is unusually tight, with available homes for sale at record-low levels. Double-digit price gains are rationing the supply.”

Bottom Line

If you’re concerned about making the decision to buy or sell right now, let’s connect to discuss what’s happening in our local market.

Do you have further questions regarding making a winning offer?  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 answer your questions and help you find your piece of paradise.

 

 

 

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Are Interest Rates Expected to Rise Over the Next Year? – Emerald Coast Real Estate

Interest Rates

Will Interest Rates Go Up?

Panama City Beach, as well as throughout the Emerald Coast, the housing market is very competitive.  The question as to whether interest rates will go up later this year adds to the sense of urgency home buyers are experiencing as they search for their perfect beach home.  Right now, sellers are in the driver’s seat, and buyers are having a tough time keeping up with the competitive market.  We are experiencing multiple offers the same day a home hits the market.  Many offers have escalation clauses and the demands for the highest and best offer.     

Are Interest Rates Expected to Rise Over the Next Year?

Are interest rates going to go up, if so when?  So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there’s a good chance rates will increase later this year and going into 2022, ultimately making it more expensive to borrow money for a home loan. Here’s a look at what several experts have to say.

Danielle Hale, Chief Economistrealtor.com:

Our long-term view for mortgage rates in 2021 is higher. As the economic outlook strengthens, thanks to progress against coronavirus and vaccines plus a dose of stimulus from the government, this pushes up expectations for economic growth . . . .”

Lawrence Yun, Chief EconomistNational Association of Realtors (NAR):

In 2021, I think rates will be similar or modestly higher . . . mortgage rates will continue to be historically favorable.”

Freddie Mac:

We forecast that mortgage rates will continue to rise through the end of next year. We estimate the 30-year fixed mortgage rate will average 3.4% in the fourth quarter of 2021, rising to 3.8% in the fourth quarter of 2022.”

Below are the most recent mortgage rate forecasts from four top authorities – Freddie MacFannie Mae, the Mortgage Bankers Association (MBA), and NAR:Are Interest Rates Expected to Rise Over the Next Year? | MyKCM

Bottom Line

If you’re planning to buy a home, purchasing before mortgage interest rates rise may help you save significantly over the life of your home loan.

 

Do you have further questions regarding making a winning offer?  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 answer your questions and help you find your piece of paradise.