Keith Bailey Realtor Florida Real Estate Blog

  Is Wall Street Really Buying All the Homes?   Let’s be real –  buying  a home  right now  is tough. You’re scrolling through listings, rushing to open houses, and maybe even losing out to more competitive offers. Somewhere along the way, you might’ve heard the reason it’s so hard to find a home is because big Wall Street investors are swooping in and snatching up everything in sight. But here’s the thing: that’s mostly a myth. While investors are part of the market, according to  Redfin , they’re a relatively small part: Here’s what that means. Five out of every six homes are being purchased by everyday homebuyers like you – not big investors. So, before you get discouraged, let’s take a look at what’s  really going on . You might be surprised to learn that Wall Street isn’t the competition you may think it is. Most Investors Are Small Mom-and-Pops Most investors aren’t the mega corporations you’ve probably heard about. In fact, many are your ne...

  Why a Destin Florida Vacation Home Is the Ultimate Summer Upgrade Summer is officially here and that means it’s the perfect time to start planning where you want to vacation and unwind this season. If you’re excited about getting away and having some fun in the sun, it might make sense to consider if  owning  your own vacation home is right for you. An  Ameriprise Financial  survey sheds light on why people buy a second, or vacation, home ( see below ):  Vacation destination or a place to get away from the stresses of everyday life (81%)  – Having a second home to use as a vacation spot can be a special place where you go to relax and take a break from your daily routines and stressors. It also means you won’t have  to worry  about finding somewhere to stay when you go there. Better weather (49%)  – Buying in a place where there may be nicer weather can be a great escape, especially if it’s cold or rainy where you usually live. It lets...

  Over the past year, a lot of people have been talking about  housing affordability  and how tight it’s gotten. But just recently, there’s been a little bit of relief on that front. Mortgage rates have gone down since their most recent peak in October. But there’s more to being able to  afford a home  than just mortgage rates. To really understand home affordability, you need to look at the combination of three important factors:  mortgage rates, home prices, and wages . Let’s dive into the latest data on each one to see why affordability is improving. 1. Mortgage Rates Mortgage rates  have come down in recent months. And looking forward, most experts expect them to  decline further  over the course of the year. Jiayi Xu, an economist at  Realtor.com ,  explains : “While there could be some fluctuations in the path forward …  the general expectation is that mortgage rates will continue to trend downward , as long as the econom...

  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...