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Homesale | Beach Road Realty Inc Blog

Sunday, February 25, 2024   /   by Richard Eimers

Home Sales Are Heating Up Ahead of Spring Buying Season

More buyers appear to accept escalating home prices as long as mortgage rates stay lower, NAR data shows.
Existing-home sales accelerated in January as home buyers shrugged off rising home prices—which surged to an all-time high—and took advantage of lower mortgage rates and moderately higher inventory, according to the National Association of REALTORS®.
NAR’s latest existing-home sales data, which reflects completed transactions for single-family homes, townhomes, condos and co-ops, jumped 3.1% month over month in January. Still, sales are down 1.7% compared to a year earlier.
“While home sales remain sizably lower than a couple of years ago, January’s monthly gain is the start of more supply and demand,” says NAR Chief Economist Lawrence Yun. “Listings were modestly higher, and home buyers are taking advantage of lower mortgage rates compared to late last year.”
Although there were 2% more homes on the market in January than ...

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Monday, January 29, 2024   /   by Richard Eimers

Alec Baldwin Gets Personal in Latest Attempt To Sell Hamptons Home, After a $10M Price Cut

It’s not every day we see an A-lister involved in the marketing of their real estate, and yet actor Alec Baldwin has stepped in front of the camera to help sell his recently relisted estate in Amagansett, NY.
Last week, the three-time Emmy winner fronted a YouTube video in which he wistfully describes his fondness for the East Hampton hamlet and the homes he’s lived in there, most notably his 10-acre property on Town Lane.
Baldwin has been trying to offload his longtime Hamptons home since 2022. And recently, the five-bedroom, 10,000-square-foot property returned to the market for just under $19 million—$10 million less than the original asking price. The home has had several previous price cuts. In addition to the latest, lowest amount, Baldwin has also added his personal touch.

The video was published—and seemingly produced—by Saunders & Associates, the brokerage handling the sale of Baldwin’s estate. In the video, which currently has somee ...

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Thursday, January 25, 2024   /   by Richard Eimers

Real Estate Market Outlook 2024: A Guide for Home Buyers and Sellers

In 2023, the real estate market faced challenges, witnessing a decline in home sales due to higher borrowing costs and soaring home prices, marking the steepest slowdown since the 2008 recession. Aspiring homebuyers found themselves priced out of the market, while hesitant sellers held back, resulting in a notable drop in listings.
Relief in Sight
There's optimism on the horizon as the Federal Reserve, in December, signaled an end to interest rate hikes and hinted at a potential 0.75% rate cut in the coming year. Although mortgages don't mirror the federal funds rate directly, they typically follow the same trend, hinting at the possibility of more affordable home loans.
Home Prices Stability
Despite high mortgage rates, U.S. property values ended 2023 higher, with some regions experiencing appreciation while others saw declines. Analysts attribute this to a nationwide housing shortage, emphasizing the delicate balance between low demand and low supply. Forecasts for 2024 vary, but ...

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Tuesday, October 31, 2023   /   by Richard Eimers

National Association of Realtors: Pending Sales Rise 1.1% in Sept.

It’s a slight gain, but NAR’s chief economist says pending sales “remain at historically low levels.” Year-over-year, pending transactions were down 11%.

WASHINGTON – Pending home sales rose 1.1% in September, according to the National Association of Realtors® (NAR). Three of the four regions tracked – the Northeast, Midwest and South – posted monthly gains in transactions while the West saw a loss. Year-to-year, though, all four regions had transaction declines.
“Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years,” says NAR Chief Economist Lawrence Yun. “Furthermore, inventory remains tight, which hinders sales but keeps home prices elevated.”
The Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based on contract signings – rose 1.1% to 72.6 in September. Year over year, pending transactions declined ...

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Friday, September 1, 2023   /   by Richard Eimers

My Home Didn't Sell. Now What?

When it comes to listing their home, most home sellers want three things: 1) to make a lot of money, 2) to put in minimal time and effort, and 3) to sell quickly. But the reality is, selling a home is rarely that simple. And homeowners who try to do it themselves—or receive bad advice—can end up stuck (months later) with a property that hasn’t sold.








If that’s you, don’t panic! We’ve outlined the top five reasons a home doesn’t sell—and action steps you can take to overcome each of these issues.

Not sure why your property didn’t sell? If you’re not already working with an agent or your listing has expired or been withdrawn, give us a call! We’d be happy to offer a free, no-obligation assessment and create an action plan to get your home SOLD.

This marketing piece is not intended as a solicitation for properties currently in an exclusive agreement with another Broker.

 

1. BAD TIMING ...

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

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