Destin Florida Real Estate Forecast - July
We are in the heart of the high summer rental season here at the beach and I'm happy to report that we've had big crowds so far this summer! This is great news for owners, vendors and businesses here at the beach.
Here's the thing though - we are in strange times. I say this because with everything going on: Covid, the economy, millions of people unemployed, the election in November, the fact that we are seven years into a market that typically corrects every six and so on - we would expect inventory of property listed for sale to climb and prices to drop. But that hasn't happened... yet. Right now we are still getting very good prices for our sellers.
What should you do?
How long the high prices hold remains to be seen so we are recommending to our clients:
1. If you are a long term hold - owning the property at least five years - price fluctuations won't have much of an impact on you.
2. If you are considering selling this year or in the next few years - sell now while we know prices are high. Protect the equity you have built up through this bull market.
3. If you are planning on buying and find a great property at a price that makes sense for you - buy it. Interest rates are low and you never know if a better property or deal will come up again. If you don't find a great property and can be patient, you will likely be rewarded with more inventory and lower prices at some point in the near future.
Either way, our job is to help you maximize your position as an owner, buyer or seller based on your financial goals and the current market conditions, so take a look at the information and if you decide selling or buying is the right course of action for you - please let me know and we can talk about how you can capture the best price possible.
Always Know: Our goal (whether you are buying or selling) is to get you the best deal possible so call us today at 850-654-3325 and let's talk about how you can get a max deal here at the beach.
Words from a recent seller - “The whole selling process was flawless from listing to closing. There were no surprises, timing was excellent and all the documents were complete and accurate. Excellent Job! Thank You” G Hoffman
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I hope this information is helpful and please let me know if you have specific questions regarding the market or your property. If you know anyone else that could benefit from this information please pass it on to them.
-John Moran: Team Leader for Keller Williams Realty's At The Beach Team.