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Home Buying | Beach Road Realty Blog

Sunday, October 6, 2024   /   by Richard Eimers

THE IMPACT OF INCREASED INVENTORY ON DESTIN, SANTA ROSA BEACH, AND INLET BEACH REAL ESTATE

Recent market reports indicate a significant shift in the real estate landscape of Destin, Santa Rosa Beach, and Inlet Beach, with inventory levels reaching heights not seen in the past five years. This increase in active listings presents both opportunities and challenges for buyers and sellers in these desirable coastal communities.


By Richard Eimers Broker October 4, 2024

Current Market Conditions
As of the latest data, Santa Rosa Beach has experienced a notable rise in active listings, with approximately 1,009 properties currently available. Over the past month, 142 new listings have been added. This trend suggests a shift from the historically low inventory levels that have characterized the market in recent years. While specific figures for Destin and Inlet Beach are not detailed in the current data, it is reasonable to infer that these neighboring areas may be experiencing similar trends due to their proximity and shared appeal.


Implications for Buyers

For buyer ...

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Sunday, October 6, 2024   /   by Richard Eimers

HOW LOW WILL INTEREST RATES GO?

Mortgage Rate Outlook: Is the Low 5% Range Realistic?

During the pandemic, mortgage rates dropped to historic lows, with the 30-year fixed rate falling below 3%. However, such rates are unlikely to return due to the extraordinary circumstances that caused them.

By Richard Eimers Broker October 4, 2024


Current Trends

As of now, mortgage rates have decreased to around 6.09%, the lowest since February 2023, down from nearly 7.8% last year.


Future Projections

While a return to pandemic-era rates is improbable, reaching the low 5% range is more realistic. The timing will depend on several economic factors:


Federal Reserve Policy: Recent rate cuts by the Fed will influence mortgage rates but not directly.
Economic Indicators: Inflation, employment numbers, and overall economic growth will play crucial roles.
Market Expectations: Rates often move in anticipation of economic trends.




Potential Timeline

Experts suggest that mortgage rates could trend do ...

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Sunday, October 6, 2024   /   by Richard Eimers

MARKET MELTDOWN OR OPPORTUNITY KNOCKS? WHAT EVERY BUYER AND SELLER MUST KNOW ABOUT 2024 IN DESTIN AND BEYOND

By Richard Eimers Broker October 4, 2024
Based on the provided search results and current market trends, here are the primary concerns for buyers and sellers of vacation rental properties in Destin, Santa Rosa Beach, and Inlet Beach for the 4th quarter of 2024:
Number 1 Concern for Buyers:
The primary concern for buyers of vacation rental properties in these areas is likely to be the market's competitiveness and pricing. According to the data:

The median sale price in Santa Rosa Beach was $890K, down 10.6% since last year.
The market is described as "not very competitive," with homes selling in an average of 119 days.
Properties are selling for about 4% below list price on average.
This suggests that while prices have decreased, buyers may be concerned about the long-term value of their investment, given the current market conditions and the potential for further price fluctuations.

Number 1 Concern for Sellers:
The main concern for sellers of vacation rental properti. ...

  beach road realty, richard eimers, eimers group, housing market, mortgage rates, property market, real estate news, real estate market, housing market trends, mortgagerates, real estate trends, homeownership, real estate, home prices, housingmarket, real estate insights, home sales, homebuying, realestatetrends, real estate investment, realestate, economic trends, home buying, homebuying tips, federalreserve, florida realtors, home selling, homesales, house hunting, interestrates, market conditions, market outlook, inflation

Monday, September 30, 2024   /   by Richard Eimers

"WILL 649,000 NEW POLICIES STABILIZE FLORIDA’S INSURANCE MARKET? UNPACKING THE POTENTIAL IMPACTS"

In a significant move that's set to reshape Florida's insurance landscape, state regulators have given the green light for private insurers to take on as many as 649,000 policies in October and November. This decision marks a pivotal moment in the state's ongoing efforts to stabilize its tumultuous property insurance market. Let's dive into what this means for homeowners, the insurance industry, and the broader economic implications for the Sunshine State.
Richard Eimers Broker Owner September 30, 2024




The Context: Florida's Insurance CrisisTo understand the magnitude of this development, it's crucial to consider the context. Florida has been grappling with a property insurance crisis for years, characterized by:
Skyrocketing premiums
Insurer insolvencies
A swelling number of policies in the state-run Citizens Property Insurance Corp
Frequent natural disasters, particularly hurricanes
Rampant litigation issues
This perfect storm of challenges has left many Floridians st ...

  beach road realty, richard eimers, eimers group, housing market, mortgage rates, property market, real estate news, real estate market, housing market trends, mortgagerates, real estate trends, homeownership, real estate, home prices, housingmarket, real estate insights, home sales, homebuying, realestatetrends, real estate investment, realestate, economic trends, home buying, homebuying tips, federalreserve, florida realtors, home selling, homesales, house hunting

Wednesday, September 25, 2024   /   by Richard Eimers

FLORIDA'S CONDOMINIUM INSPECTION DEADLINE: WHAT YOU NEED TO KNOW

As Florida’s December 31 deadline approaches for mandatory condo inspections, the pressure on property owners and associations continues to mount. Governor Ron DeSantis has promised relief for condo unit owners facing increased inspection costs, but the legislature has resisted calls for a special session, leaving the deadline intact.Richard Eimers Broker Owner September 25, 2024
As Florida’s December 31 deadline approaches for mandatory condo inspections, the pressure on property owners and associations continues to mount. Governor Ron DeSantis has promised relief for condo unit owners facing increased inspection costs, but the legislature has resisted calls for a special session, leaving the deadline intact.

Key Inspection Requirements Condo buildings over two stories that turned 30 years old before July 1, 2022, must undergo two critical assessments:

Milestone Inspection Report: This report evaluates whether a building shows signs of structural deterioration.
Str. ...

  beach road realty, richard eimers, eimers group, housing market, mortgage rates, property market, real estate news, real estate market, housing market trends, mortgagerates, real estate trends, homeownership, real estate, home prices, housingmarket, real estate insights, home sales, homebuying, realestatetrends, real estate investment, realestate, economic trends, home buying, homebuying tips, federalreserve, florida realtors, home selling, homesales, house hunting

Beach Road Realty
Richard Eimers
17 Roundwood Drive
Inlet Beach, FL
850-259-1798
Beach Road Realty

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