News

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Homebuyer Demand Is Far Above Last Year’s Pace | MyKCM

Homebuying has been on the rise over the past few months, with record-breaking sales powering through the market in June and July. Buyers are actively purchasing homes, and the momentum is continuing into the fall. It is, however, becoming harder for buyers to find homes to purchase. If you’ve been thinking about selling your house, the coming weeks might just be the timing you’ve been waiting for.

According to the Pending Home Sales Report from the National Association of Realtors (NAR):

Pending home sales in July achieved another month of positive contract activity, marking three consecutive months of growth.

The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, rose 5.9% to 122.1

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Aerial of Gulf and Dune Lake

Weiss Analytics: Fla.’s Panhandle offers the best returns on vacation-home investments in the U.S., while Siesta Key and the Miami Beach metro also made the top 20 list.

NEW YORK – Real estate investors are scrutinizing second-home markets as they hunt for growth opportunities, even during the pandemic. After all, “travel doesn’t stop when the economy weakens – it changes where people travel,” a new report from rental management site Rented Inc. and Weiss Analytics notes.

“In 2020, travelers want to stay closer to home, and they are seeking genuine experiences. High on the list are Instagram-worthy, outdoor locations, and the highest returns come from homes that enhance the guest experience,” the report states.

Rented and Weiss note a

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Is the Health Crisis Driving Buyers Out of Urban Areas? | MyKCM

 

The pandemic has caused consumers to re-examine the components that make up the “perfect home.” Many families are no longer comfortable with the locations and layouts of their existing homes. The allure of city life (more congested) seems to be giving way to either suburban or rural life (less congested). The fascination with an open floor plan seems to be fading as people are finding a need for more privacy while working from home.

Recently, news.com released a report that revealed how buyers’ views of listings are leaning heavily to more suburban and rural properties. Here are the year-over-year percentage increases in views per property type:

  • Urban – 7%
  • Suburban – 13%
  • Rural – 16%

In the report, Javier Vivas, Director of

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It’s been roughly two months since the effects of  COVID-19 virus began in our area and our real estate market. In those two months, much has changed.  Stay-at-home orders have given way to the resumption of normal beach vacations.  Visiting restaurants, retail stores and even bowling alleys are now possible.  The real estate market has changed as well.  Thankfully, it is progressing as we anticipated back in March.  It’s great news for all of us who love the Emerald Coast.

Back in March when COVID was dramatically impacting the stock market and the level of real estate activity, we made the case this market slowdown was different than those in the past.  Real estate market fundamentals are and were stable, strong and more resilient.  Our opinion then

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With stay-at-home orders starting to gradually lift throughout parts of the country, data indicates homebuyers are jumping back into the market. After many families put their plans on hold due to the COVID-19 pandemic, what we once called the busy spring real estate season is shifting into the summer. In 2020, summer is the new spring for real estate.

Joel Kan, Economist at The Mortgage Bankers Association (MBA) notes:

“Applications for home purchases continue to recover from April’s sizable drop and have now increased for five consecutive weeks…Government purchase applications, which include FHA, VA, and USDA loans, are now 5 percent higher than a year ago, which is an encouraging turnaround after the weakness seen over the past two

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On May 19, 2020, Florida Governor Ron DeSantis reinstated short-term vacation rentals for Walton Okaloosa, and Bay Counties. Per the Governor’s executive order, reservations for dates within the next 45 days may not be accepted for renters coming from COVID-19 hotspots which include Louisiana, Connecticut, New York, and New Jersey.

For more information, click here.

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The Premier Property Group (PPG) proudly announces Alyssa Walker has joined the company as Vice President of Marketing. In this role, Walker will spearhead all marketing functions for The Premier Property Group, including creating, implementing, and monitoring marketing strategies for both the company and all agents, commercial and residential.  As part of PPG, Walker provides a wide range of experience, from market and consumer research, strategy, and campaigns to logistical planning and coordination.   A native of Gadsden, Alabama, Walker grew up spending summers along the 30A coast  before relocating to the Panhandle permanently in 2013 with her husband, Bo Walker. Prior to PPG, Walker served as the Marketing Director of Alys Beach for the…
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Everyday, we learn something new about the impact of the COVID-19 virus on our economy and our daily lives.  In previous newsletters, we discussed that despite the slowdown in real estate transactions, market fundamentals remain good.  In addition, we put forth the opinion that the real estate market would rebound much like it did post 9/11.  Even though our real estate market is still impacted by the virus due to the prohibition of vacation rentals, which reduces the number of real estate showings, we are starting to see some improvement in the market.

The graph below compares the number of contracts signed per day during 2019 and 2020.  Contract signings, also known as pended contracts, were analyzed as it provides the most real-time indicator of

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