As mortgage rates started to rise this year, many homeowners began to wonder if the value of their homes would fall. Here’s the good news. Historically, when mortgage rates rise by a percentage point or more, home values continue to appreciate. The latest data on home prices seems to confirm that trend.

According to data from CoreLogic, home price appreciation has been re-accelerating since November. The graph below shows this increase in home price appreciation in green:

This is largely due to an ongoing imbalance in supply and demand. Specifically, housing supply is still low, and demand is high. As mortgage rates started to rise this year, many homebuyers rushed to make their purchases before those rates could climb higher. The increased…

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According to a recent survey from the National Association of Realtors (NAR), one of the top challenges buyers face in today’s housing market is finding a home that meets their needs. That’s largely because the inventory of homes for sale is so low today.

If you’re looking to buy a home, you may have noticed this yourself. But there is good news. Recent data shows more sellers are listing their houses this season, which may give you more options for your home search.

Early Signs Inventory May Be Growing

The latest data from realtor.com shows the number of listings coming onto the market, known in the industry as “new listings,” has increased since the start of the year (see graph below):

This indicates more sellers are listing their…

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The Summer season has officially started in Destin! Check out some of the top local news stories as we head into the month of June! 


Destin Charity WAF’s 6th Annual Harvest Wine & Food Festival Set 

https://www.thedestinlog.com/story/entertainment/2022/04/21/destin-charity-wafs-6th-annual-harvest-wine-food-festival-set/7311179001/


Ribbon Cutting Held for Ruby Slipper in Destin 

https://www.nwfdailynews.com/story/entertainment/dining/2022/05/07/ruby-slipper-opens-destin-holds-ribbon-cutting-event/9650565002/


International Magic Show to Debut in Destin this Summer 

https://www.thedestinlog.com/story/entertainment/events/2022/04/30/presto-magic-parlor-show-coming-destin-commons-summer-2022/9555544002/


Gulfarium C.A.R.E Center…

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The Summer season has officially started on 30A! Check out some of the top local news stories as we head into the month of June! 

 

11 Best Brunch Spots on 30a, Florida 

https://30a.com/brunch-spots/

 

South Walton Sea Turtle Season Underway 

https://sowal.com/story/south-walton-sea-turtle-season-underway


Charlie’s Donut Truck to Open New Location on Alys Beach 

https://www.waltonsun.com/story/entertainment/dining/2022/05/06/charlies-donut-truck-opening-location-alys-beach-amphitheatre/9628519002/


Free Admission to SoWal State Parks Summer 2022 

https://sowal.com/story/free-admission-to-sowal-state-parks-summer-2022


Rip Current Information and Beach Safety 

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We are excited to announce the well-known and respected Stone Building Company out of Birmingham, Alabama has been chosen to build the luxury Grove condominiums and amenities.  We also have chosen Stock and Trade Design Co. to provide our furniture packages and will be providing an upgrade package for purchasers to review.

Along with these exciting updates, over the next couple of weeks, we will be concluding the contract conversion process. We are underway with Architectural & Civil construction documents. This process should be fully complete within 140 days of inception. Once project working docs are finalized, we will move directly into the permitting process which should take 4-7 months. Phase l of The Grove should be under construction within…

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If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach. Mortgage rates directly impact the monthly payment you’ll have on the home you purchase. So, when rates rise, so does the monthly payment you’re able to lock in on your home loan. In a rising-rate environment like we’re in today, that could limit your future purchasing power.

Today, the average 30-year fixed mortgage rate is above 5%, and in the near term, experts say that’ll likely go up in the months ahead. You have the opportunity to get ahead of that increase if you buy now before that impacts your purchasing power.

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It's May on the Emerald Coast and the water is warmer and the sun is shining brighter. We have gathered all the latest news to keep you up to date as we head into the summer months! 


The Ultimate Guide to Camping Along Scenic Highway 30A

https://30a.com/best-campgrounds/

 

30A’s New (and Coming Soon) Restaurants and Bars

https://30a.com/new-restaurants-bars-2022/

 

Anglers Catch 'Monster' 832-Pound Bluefin Tuna off the Coast of Destin

https://original.newsbreak.com/@polarbear-1588488/2581051420747-anglers-catch-monster-832-pound-bluefin-tuna-could-break-florida-state-record

 

Tequila & Taco Fest At The Village of Baytowne Wharf May 6-8

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If you’re planning to sell your home this season, rising prices are great news for you. But it’s important to understand why prices are rising to begin with. One major factor is supply and demand.

In any industry, when there are more buyers for an item than there are of that item available, prices naturally rise. In those situations, buyers are willing to pay more to get the product or service they’re looking for when options are scarce. And that’s exactly what’s happening in the current real estate market.

Selma Hepp, Executive, Research & Insights and Deputy Chief Economist at CoreLogic, puts it like this:

“With so few homes, buyers are once again left with fierce competition that’s driving the share of homes that sold over the listing…

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There’s never been a truer statement regarding forecasting mortgage rates than the one offered last year by Mark Fleming, Chief Economist at First American:

“You know, the fallacy of economic forecasting is: Don’t ever try and forecast interest rates and or, more specifically, if you’re a real estate economist mortgage rates, because you will always invariably be wrong.”

Coming into this year, most experts projected mortgage rates would gradually increase and end 2022 in the high three-percent range. It’s only April, and rates have already blown past those numbers. Freddie Mac announced last week that the 30-year fixed-rate mortgage is already at 4.72%.

Danielle Hale, Chief Economist at realtor.com, tweeted on March 31:

“Continuing on the…

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