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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.

 

 

 

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Is It Time To Sell Your Beach Home? – Emerald Coast Real Estate

Time To Sell

Is it Time to Sell Your Beach Home?

Is it time to sell your beach home in Panama City Beach or along the Emerald Coast?  Well if you have been thinking about selling, now is the time!  There are a lot of active buyers competing for a relatively low number of available homes and condos.  Thus sellers are in the driver’s seat in the very HOT Panama City Beach real estate market.  

Why This Is a Great Year to Sell Your Vacation Home

Some are asking why is it a good time to sell?  As vaccines are administered and travel resumes, many across the United States are beginning to plan for those long-awaited vacations that they missed out on over the past year.  Some households are focusing their efforts on buying a vacation home rather than staying in a hotel, too. The National Association of Home Builders (NAHB) reports:

Second homes (i.e., homes sold to buyers who are not going to occupy the home year-round, but use it as a vacation home, investment property, etc.) account for 15 percent of new single-family home sales.”

It’s not surprising that there’s an increase in demand for vacation homes in the coveted Panama City Beach area.  Where the beaches are beautiful, sunshine is abundant and the Emerald Coast is calming.

Not only are vacation homes seen as a potentially more pandemic-friendly way to travel and socialize, but they can also serve as an extended home-away-from-home. With more Americans being given the option to continue working remotely or retire earlier than expected, vacation homes can be used year-round.  The NAHB explains:

“Remote work arrangements have made it possible for some wealthier Americans to move to alternate locations that are not just small, suburban shifts from within their current metro area.  More fundamentally, second home demand may also be benefitting by an acceleration of retirement plans, as well as stock market gains.”

Bottom Line

The demand for  Panam City Beach vacation homes has increased and will continue to rise as we head into summer. If you own a house along the Emerald Coast and have thought about selling, now is a great time to take advantage of today’s high buyer interest. Let’s connect to discuss your opportunities 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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Real Estate Myth Buster – Panama City Beach Real Estate

real estate myth buster

Real Estate Myth Buster, Panama City Beach, and along the Emerald Coast.

Let’s talk about the five common misconceptions when thinking about purchasing a home in today’s competitive Panama City Beach real estate market.

REAL ESTATE MYTH BUSTER IN THE PANAMA CITY BEACH REAL ESTATE MARKET.

What do I mean when I speak about Real Estate Myth Buster in today’s Panama City Beach real estate market? 

For quite some time, the landscape of the real estate in Panama City Beach was quite different.  We had substantial inventory, and it was more of a buyer’s market.  Meaning buyers did not necessarily have to worry about competing offers; as long as the offer was within the market expectation, there was a high probability that the unit they put an offer on would go under contract.  

Times have changed!

Now the buyer has to be ready to act quickly.

Sellers have to be informed, so they price their home to maximize the price point.

These real estate myth busters will help you achieve your real estate goals.

Myth #1.  It’s better to get pre-approved after you find the perfect home to buy.

REALITY:  You should get pre-approved before you begin your home search.  That way, you will know your budget and act quickly when ready to make an offer.  Also, that will strengthen your offer to sellers.

Myth #2.  Always start with your lowest offer when buying a home.

REALITY:  In a competitive market like we have today, you may not get a second chance.

Myth #3.  It’s better to price your house on the high side when you are selling.

REALITY:  A house that is priced competitively will likely sell faster and attract multiple offers.

Myth #4.  Renovating your house will definitely net you more money when you sell.

REALITY:  Some renovations may be necessary, but not all of them.  Your trusted agent can advise you on what is important to fix before selling and what is not.

Myth #5.  It is safe to skip the home inspection if the house looks good.

REALITY:  You should not skip the inspection.  It could uncover hidden problems that might cost you down the line.

 

Bottom Line

Today’s competitive market makes it more important than ever to make a strong offer on a home.  An experienced agent is critical in helping buyers and sellers in the Panama City Beach real estate market.  Let’s connect to make sure you rise to the top along the way.

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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Diamond In The Rough Edgewater Golf Villa Renovation – Panama City Beach Real Estate

Edgewater Golf Villa Renovation

Real estate along the Emerald Coast.

Diamond in the rough, Edgewater Golf Villa renovation.  The Edgewater Beach Resort is the only true resort in Panama City Beach.  A truly all-inclusive resort with a golf course, tennis courts, pickleball, shuffleboard, and more.  And of course pools, including a lagoon pool oceanfront restaurant….and of course the sugar sands of the Gulf of Mexico!

Some of our agents have been part of the journey of helping with the purchase, and renovation of the charming golf villas, bringing the 1980’s to 2021.  Knowing the ins and outs of the market and the renovation process our team can help you.

“Home is where the heart is.”

 

We hope you took a brief moment to watch this short video on the renovation of an Edgewater Golf Villa, located in Edgewater Beach Resort.  

If you would like to discuss further the value of your home in today’s market, 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.