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Beach Road Realty Inc Blog

Monday, February 12, 2024   /   by Richard Eimers

Super Bowl Shocker: A Surprising Spin Through the Homes of the San Francisco 49ers (Which Aren’t In San Francisco)

The San Francisco 49ers are in search of an elusive sixth Super Bowl trophy. And the team trying to stop them is all too familiar.
Much like your property tax bill, the Kansas City Chiefs have become an annual presence—some might say annoyance. If you’re curious about the real estate of the Chiefs’ roster, you should check out our in-depth coverage of their many homes from 2020, 2021, and 2023. Not much has changed—other than Travis Kelce purchasing a $6 million mansion last October.
Nationwide, Chiefs fatigue soared to an all-time high, and it’s no surprise. As much as we all love a team on the rise, we become weary when the same squad rampages through the playoffs every season. And for those inclined to cast a jaded eye toward the Chiefs, this season’s Taylor Swift storyline pushed matters over the top into truly outlandish territory.

All of which is to say: We’re excited for the 49ers. On their last trip to the big game four years ago. ...

Sunday, February 11, 2024   /   by Richard Eimers

Reverse Mortgages: How Do They Work?

Reverse mortgages allow homeowners to borrow money based on their home’s value, but there are many considerations when choosing one.  

NEW YORK – As long as there have been homes for sale, there have been financial vehicles designed to alleviate some of the financial pressures associated with owning a home.
Older adults with their home paid off are being courted by businesses promoting reverse mortgages. Often the concept is introduced in television commercials with celebrity endorsers such as Tom Selleck and Henry Winkler.
A reverse mortgage is another way homeowners can borrow money based on the value of their homes, but it doesn't need to be repaid as long as those individuals are still living in their residences.
Eligibility and basics
The Federal Trade Commission's consumer advice says a reverse mortgage is an option for those age 62 or older who can borrow money based on their equity, or how much money one could get for the home if sold after what is ...

Sunday, February 11, 2024   /   by Richard Eimers

February 2024 Mortgage Monitor

ICE Mortgage Monitor: Positive Signs in Housing, Mortgage Markets Ahead of Spring Homebuying Season

Affordability has improved along with rates in recent months, with the share of income required to purchase the median home falling nearly 5 percentage points from October’s 28-year high
The national inventory deficit also improved for the 7th consecutive month which, along with improved affordability, points to a better housing market environment in coming months
The ICE Home Price Index for December reported an annual growth rate of +5.6%, up from +5.1% in November, which at first glance suggests an accelerating housing market
That acceleration, however, is a residual effect of last spring and summer’s strong run of growth, with more recent data suggesting that growth rate will begin to cool in coming months
Lower interest rates have also begun to increase refinance incentive, albeit slowly, with more potential on the horizon, particularly among the 4.3M mortgages or ...

Monday, February 5, 2024   /   by Richard Eimers

‘We’re at a Turning Point’: Is the Housing Market Finally Thawing—or Is Another Deep Freeze To Come?

After a particularly rough stretch, the frozen housing market has begun to thaw.
Mortgage rates have tumbled, more homes are being listed, and sales are rising as buyers are pouncing on their sudden change in fortune.
“The worst is over for the housing market,” says Mark Zandi, chief economist at Moody’s Analytics. But “it will take a number of years for the housing market to fully normalize.”

Indeed, the signs of a gradual sea change have been abundant in the past two months.
In December, mortgage rates dropped from above 7% to the mid-6% range—a consequential event that jump-started home sales.
Mortgage applications spiked 34% in the week ending Jan. 19 compared with four weeks earlier, according to the latest Mortgage Bankers Association data.
From November to December, the number of new-home sales rose 8% and pending home sales were up 8.3%. (This was according to the most recent data from the U.S. Census Bureau, the U.S. Department of Hom ...

Monday, February 5, 2024   /   by Richard Eimers

Is the Housing Market Bouncing Back—or Bouncing Back and Forth?

Is the housing market bouncing back in 2024—or just bouncing back and forth?
There have been some signs of housing inventory recovering, with the number of homes actively for sale growing by 7.9% year over year in January, according to a recent Realtor.com® report.
That’s “notably higher compared to last year,” according to Realtor.com Chief Economist Danielle Hale.

Mortgage rates have also subsided from their 23-year high of 7.79% in October to 6.69% in the week ending Jan. 26 for a 30-year fixed-rate loan, according to Freddie Mac.
But despite this double dose of promising news, Hale doesn’t expect that America’s housing affordability crisis will improve all that quickly. Rather, she predicts it will take a few baby steps forward, and maybe one or two back.
“While gradually falling mortgage rates are helping slow the cost to purchase a home, the housing market will likely bounce back and forth between improvement and status quo ovem ...
Beach Road Realty Inc
Richard Eimers
17 Roundwood Drive
Inlet Beach, FL

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