Keith Bailey Realtor Florida Real Estate Blog

  If Your Destin Florida House Price Is Not Compelling, It’s Not Selling There’s one big mistake you need to avoid when you sell your house this year: setting  your price too high. It might seem like overpricing gives you room to negotiate or could really boost your profit, but the reality is, it usually backfires. If Your Destin Florida House Price Is Not Compelling, It’s Not Selling In fact,  Realtor.com  says  almost 20% of sellers — that’s one in five — have to  reduce  their price to get their house sold. And you don’t want to be one of them. Here’s why starting  too high  can lead to trouble, and how to avoid it. Overpricing Pushes Buyers Away With mortgage rates and home prices where they are right now, buyers are already stretching their budgets to make a move. So, when they see a house that’s priced too high, they’re not thinking, “I can negotiate.” They’re more likely to think, “next” and skip over your house entirely. An article f...

 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 ...

  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...

  2 of the Factors That Impact Mortgage Rates If you’re looking to  buy a home , you’ve probably been paying close attention to  mortgage rates . Over the last couple of years, they hit record lows, rose dramatically, and are now dropping back down a bit. Ever wonder why? The answer is complicated because there’s a lot that can influence mortgage rates. Here are just a few of the most impactful factors at play. Inflation and the Federal Reserve The  Federal Reserve  (Fed) doesn’t directly determine mortgage rates. But the Fed does move the Federal Funds Rate up or down in response to what’s happening with inflation, the economy, employment rates, and more. As that happens, mortgage rates tend to respond.  Business Insider  explains : “ The Federal Reserve slows inflation by raising the federal funds rate, which can indirectly impact mortgages.  High inflation and investor expectations of more Fed rate hikes can push mortgage rates up. If investors...

  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...