If you need assistance, please call 850-259-1798

Housing Market | Beach Road Realty Blog

Wednesday, July 24, 2024   /   by Richard Eimers

INNOVATIVE RETIREMENT SOLUTIONS THROUGH FAMILY CONNECTIONS

As Generation X approaches retirement age, they're demonstrating their characteristic adaptability and resourcefulness by exploring creative solutions to ensure a comfortable future. A recent study by Prudential Financial Inc. reveals that many Gen Xers are considering the benefits of multigenerational living arrangements and family support networks as part of their retirement strategy.
Richard Eimers July 24, 2024

This trend towards collaborative retirement planning highlights the strong family bonds and open communication that many Gen Xers have cultivated over the years. By considering shared living arrangements with adult children or other family members, Gen Xers are not only addressing potential financial challenges but also fostering closer family ties and creating opportunities for mutual support.Jessica Lautz, NAR's deputy chief economist, notes the resilience of Gen X, stating, "We have seen Gen Xers are boomeranging back financially and in the housing market." This adapt. ...

  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, realestatetrends, real estate investment

Tuesday, July 23, 2024   /   by Richard Eimers

ELECTION YEAR JITTERS HIT THE BEACH: DESTIN'S REAL ESTATE ROLLERCOASTER RIDE OF 2024

As we enter the second half of 2024, the housing market in the Destin area beach resort communities is showing some interesting trends and projections. Here's a deep dive into the latest data and forecasts for Destin, Miramar Beach, Santa Rosa Beach, and Inlet Beach.
Richard Eimers July 23, 2024

Median Home Prices
The median home sold price in Destin was $650,266 in June 2024, representing an 8.2% increase from the previous year. This upward trend indicates a resilient market despite some challenges. However, it's worth noting that Zillow reports a slight decline in average home values, with Destin's average home value at $624,224, down 3.5% over the past year. This discrepancy suggests some volatility in the market.

Market Activity
The number of homes sold in Destin decreased by 26.9% from May to June 2024, with 49 homes sold or pending in June. This decline in sales volume could be attributed to various factors, including affordability challenges and limited inventory.

In. ...

  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

Tuesday, July 23, 2024   /   by Richard Eimers

ITS OFFICIAL, WE ARE NOW IN A BUYERS MARKET

A buyer's market in real estate is a situation where:
The supply of homes for sale exceeds the demand from potential buyers. This creates conditions that favor buyers, typically characterized by:
More homes available for sale than there are interested buyers
Homes staying on the market for longer periods before selling
Declining or stagnant home prices
Sellers more willing to negotiate on price and terms
Buyers having more options and bargaining power
In simple terms, a buyer's market occurs when there are more sellers trying to sell homes than there are buyers looking to purchase, giving buyers an advantage in negotiations and more choices in their home search.

Richard Eimers July 23, 2024

The housing market has reached unprecedented heights, with median home sales prices hitting new records. However, this trend may be nearing its end, according to the latest report from the National Association of REALTORS® (NAR).
In June, existing-home sales experienced a 5.4% ye ...

  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, homebuying tips, florida realtors

Monday, July 15, 2024   /   by Richard Eimers

BRICK BY BRICK: WHY ECONOMISTS SEE THE HOUSING MARKET AS A BUFFER AGAINST RECESSION

As economic uncertainties loom on the horizon, many experts are turning their attention to an unexpected source of stability: the housing market. Despite challenges such as high mortgage rates and affordability concerns, the resilience of the housing sector is emerging as a potential "downside cushion" for the broader US economy. This phenomenon is particularly intriguing given the housing market's historical role in economic downturns. Let's delve into why and how the housing market might serve as a buffer against economic headwinds in the coming months.Richard Eimers July 15, 2024
The Current State of the Housing MarketTo understand the housing market's potential as an economic cushion, we first need to examine its current state. As of 2024, the US housing market presents a complex picture:Inventory Levels: After years of severe shortages, housing inventory has begun to show signs of improvement. This increase in available homes provides more options for buyers and helps to stabiliz ...

  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, home selling, homesales, house hunting

Monday, July 15, 2024   /   by Richard Eimers

HUD UPDATES 203(K) PROGRAM: A GAME CHANGER FOR DESTIN AND SANTA ROSA BEACH REAL ESTATE

As a seasoned real estate expert, I’m excited to share some significant news that could reshape the landscape of homeownership and investment in the Destin and Santa Rosa Beach communities. The U.S. Department of Housing and Urban Development (HUD) has recently updated its 203(k) program, making it easier for homeowners to purchase fixer-uppers or refinance and repair their homes. This update is particularly relevant for those looking to invest in or enhance properties in our beautiful beachside communities.Richard Eimers July 15, 2024

Understanding the 203(k) Program
The 203(k) program is a unique FHA loan that allows buyers to finance both the purchase and renovation of a home through a single mortgage. Traditionally, obtaining financing for a home purchase and subsequent renovations required separate loans, often leading to higher costs and more complex processes. The 203(k) program simplifies this by bundling the costs into one loan, making it an attractive option for tho ...

  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

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

The properties displayed may not be all of the properties in the MLS's database, or all of the properties listed with Brokers participating in the cooperative data exchange program. Properties listed by Brokers other than this Broker are marked with either the listing Broker's logo or name or the MLS name or a logo provided by the MLS. Detailed information about such properties includes the name of the listing Brokers. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. The Florida Association of REALTORS® and its cooperating MLSs do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Data last updated July 25, 2024

IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS. Vendor Member Number: 28179

This site powered by CINC: www.cincpro.com