Keith Bailey Realtor Florida Real Estate Blog

 As you’re getting ready to  sell your house , one of the first  questions  you’re probably asking is, “how long is this going to take?” And that makes sense—you want to know what to expect. While every market is different, understanding what’s happening nationally can give you a good baseline. But for an even more detailed look at real estate conditions in your area, connect with a local real estate agent. They know your local market best and can explain what’s happening near you and how it compares to national trends. Here’s a look at some of the things a great agent will walk you through during that conversation. More Homes Are on the Market, and That’s Affecting How Long They Take To Sell According to  Realtor.com , the number of homes for sale has been going up this year. That means there are more options for buyers, which is great news for anyone looking to buy a home. But as a  seller , it also means homes are staying on the market a bit longer ...

  Your Home Is a Powerful Investment Going into 2023, there was a lot of talk about a possible  recession  that would cause the housing market to crash. Some in the media were even forecasting home prices would drop by as much as 10-20%—and that might have made you feel a bit unsure about  buying a home . But here’s what actually happened:  home prices  went up more than usual. Brian D. Luke, Head of Commodities at  S&P Dow Jones Indices ,  explains : “Looking back at the year, 2023 appears to have exceeded average annual home price gains over the past 35 years.” To put last year’s growth into context, the graph below uses  data  from  Freddie Mac  on how home prices have changed each year going back to 1980. The dotted line shows the long-term average for appreciation: The big takeaway?   Home prices almost always go up. As an article from  Forbes   says : “. . . the U.S. real estate market has a long and re...

  What To Know About Credit Scores Before Buying a Home If you want to  buy a home , you should know your credit score is a critical piece of the puzzle when it comes to  qualifying for a mortgage . Lenders review your credit to see if you typically make payments on time, pay back debts, and more. Your credit score can also help determine your mortgage rate. An article from  US Bank   explains : “A credit score isn’t the only deciding factor on your mortgage application, but it’s a significant one. So, when you’re house shopping,  it’s important to know where your credit stands and how to use it to get the best mortgage rate possible .” That means your credit score may feel even more important to your  homebuying plans  right now since  mortgage rates  are a key factor in  affordability . According to the  Federal Reserve Bank of New York , the median credit score in the U.S. for those taking out a mortgage is  770 . But t...

  Why Pre-Approval Is Even More Important This Year On the road to becoming a  homeowner ? If so, you may have heard the  term  pre-approval get tossed around. Let’s break down what it is and why it’s important if you’re looking to  buy a home  in 2024. What Pre-Approval Is As part of the  homebuying process , your lender will look at your finances to figure out what they’re willing to loan you. According to  Investopedia , this includes things like your W-2, tax returns,  credit score , bank statements, and more. From there, they’ll give you a pre-approval letter to help you understand how much money you can borrow.  Freddie Mac   explains  it like this: “ A pre-approval is an indication from your lender that they are willing to lend you a certain amount of money to buy your future home . . . . Keep in mind that the loan amount in the pre-approval letter is the lender’s maximum offer.  Ultimately, you should only borrow a...

  Are you putting off your plans  to sell  because you’re worried you won’t be able to find a home you like when you move? If so, it may be time to consider a newly built home and the benefits that come with one. Here’s why. Near-Record Percentage of New Home Inventory Newly built homes are becoming an increasingly significant part of today’s housing inventory. According to the most recent report from the  National Association of Home Builders  (NAHB): “ Newly built homes available for sale accounted for 31% of total homes available for sale in November, compared to an approximate 12% historical average.” That means the percentage of the total homes available to buy that are newly built is well over two times higher than the norm.  And even more new homes are on the way. Recent data  from the  Census  shows there’s been an uptick in both housing starts (where builders break ground on more new homes) and housing completions (homes where c...

  Welcome to the Emerald Coast, where the pristine beaches meet the enchanting real estate landscape of Destin, Florida! If you're considering selling your home in this captivating coastal haven, you're embarking on an exciting journey. In "Selling Your Home in Destin: Tips and Tricks for a Smooth Real Estate Transaction," we're here to guide you through the intricacies of the local market and provide invaluable insights to ensure your selling experience is not only successful but also stress-free. As a seasoned real estate professional with 35 years of expertise in the Destin area, I'm Keith Bailey Realtor, committed to sharing the secrets of a seamless home selling process. Whether you're a long-time resident looking to upgrade or a homeowner ready for a new adventure, these tips and tricks will empower you to make informed decisions and navigate the real estate landscape with confidence. Join me on this journey, where we'll explore the art of prepar...