It’s clear the 2022 housing market has been defined by rising mortgage rates. With rates on the rise, it’s also become more costly to purchase a home. According to the National Association of Realtors (NAR):

“Compared to one year ago, the monthly mortgage payment rose to $1,944 from $1,265, an increase of 53.7%.”

If you’re thinking of buying a home or have been trying to recently, that’s a big increase in a monthly mortgage payment – and it may be causing you to press pause on your plans. This jump is making homes less affordable, especially compared to the last two years when mortgage rates were at historic lows.

The good news is you can navigate today’s housing market and this rising rate environment with a few simple tips. Here are three…

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Some people believe there’s a group of homeowners who may be reluctant to sell their houses because they don’t want to lose the historically low mortgage rate they have on their current home. You may even have the same hesitation if you’re thinking about selling your house.

Data shows 51% of homeowners have a mortgage rate under 4% as of April this year. And while it’s true mortgage rates are higher than that right now, there are other non-financial factors to consider when it comes to making a move. In other words, your mortgage rate is important, but you may have other things going on in your life that make a move essential, regardless of where rates are today. As Jessica Lautz, Vice President of Demographics and Behavioral Insights at…

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Experts are starting to make their 2023 home price forecasts. As they do, most agree homes will continue to gain value, just at a slower pace. Over the past couple of years, home prices have risen at an unsustainable rate, leaving many to wonder how long it would last. If you’re asking yourself: what’s ahead for the price of my home, know that experts are now answering this question, and its welcome news for homeowners who may have been led by the media to believe their home would lose value.

Historically, home prices have appreciated at a rate near 4%. For 2023, the average of six major forecasters noted below is 2.5%. While one, Zelman & Associates, is calling for depreciation, the other five are calling for appreciation. The graph below outlines…

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It's finally fall in Florida! Check out some of the top local news and seewhat fun events are coming up on the Emerald Coast as we head into October.

Watersound Origins Porchfest Returns to the Watersound Origins Community Oct. 9

https://www.watersound.com/watersound-porchfest

Visit the Magnificent Monarch Art Train in South Walton Florida

https://sowal.com/story/the-magnificent-monarch-art-trail-in-south-walton-florida

Mountainfilm on Tour Returns to WaterColor Inn & Resort

https://www.thedestinlog.com/story/lifestyle/2022/08/29/mountainfilm-tour-returns-watercolor-inn-resort/7883476001/

30A Businessman Michael V. Jordan is Now a Two-Time Movie Star. Here's Where to Watch

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It's finally fall in Florida! Check out some of the top local news and see what fun events are coming up on the Emerald Coast as we head into October.

The 74th Annual Destin Fishing Rodeo Oct. 1-31

https://www.destinfwb.com/event/destin-fishing-rodeo/2507/

The Destin Seafood Festival is Back After a 2 Year Hiatus

https://www.thedestinlog.com/story/entertainment/events/2022/09/12/destin-seafood-festival-2022-returns-after-2-year-hiatus-what-know/7934827001/?itm_medium=recirc&itm_source=taboola&itm_campaign=internal&itm_content=RightRailArticleThumbnails-Redesign

Get Ready for Rocktober - Free Concert Series and Fireworks at Harborwalk Village

https://www.destinchamber.com/events/details/rocktober-concert-series-10-01-2022-49702

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As the season turns from summer to fall, activities on the Emerald Coast definitely don’t slow down! We have gathered all the latest news to keep you up to date as we head into the fall months.

Coastal-themed banners go up along Main Street in Destin created by local artists

https://www.thedestinlog.com/story/news/2022/08/12/destin-banner-art-project-displays-new-banners-main-street/10277093002/


Baytown Art and Food Fest Sept. 2-4

https://waltonoutdoors.com/baytowne-art-and-food-fest-sept-2-4/


Eric Church headlining Moon Crush Harvest Moon 2022

https://themusicuniverse.com/eric-church-headlining-moon-crush-harvest-moon-2022/

 

Large waterspout spotted off Destin coast

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One of the biggest questions people are asking right now is: what’s happening with home prices? There are headlines about ongoing price appreciation, but at the same time, some sellers are reducing the price of their homes. That can feel confusing and makes it more difficult to get a clear picture.

Part of the challenge is that it can be hard to understand what experts are saying when the words they use sound similar. Let’s break down the differences among those terms to help clarify what’s actually happening today.

  • Appreciation is when home prices increase.
  • Depreciation is when home prices decrease.
  • Deceleration is when home prices continue to appreciate, but at a slower or more moderate pace.

Experts agree that, nationally, what…

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If you’re thinking about selling your house, you may have heard about the housing market slowing down in recent months. While it’s still a sellers’ market, the peak frenzy the market saw over the past two years has cooled some. If you’re asking yourself if you’ve missed your chance to sell your house and make a move, the good news is you haven’t – motivated buyers are still out there. But you do need to price your house right for today’s market. Here’s why.

As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:

Homes priced right are selling very quickly, but homes priced too high are deterring prospective buyers.”

It’s true buyer demand has slowed over the past few months as higher mortgage rates made it more…

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If you’re thinking about buying a home, you likely have a lot of factors on your mind. You’re weighing your own needs against higher mortgage rates, today’s home prices, and more to try to decide if you want to jump into the market. While some buyers may wait things out, there’s a reason serious buyers are making moves right now, and that’s the growing number of homes for sale.

So far this year, housing inventory has been increasing and that’s making the prospect of finding your dream home less difficult. While there are always reasons you could delay making a big decision, there are also always reasons to consider moving forward. And having a growing number of options for your home search may be exactly what you needed to feel more confident in…

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