Kerry Veach

“Home buying affordability is at a record high!” said, Jay Papasan, on January, 2012, when reporting for This Month in Real Estate.  Papasan went on to say that the National Association of Realtors (NAR), reports their home buying affordability statement is based on the latest figures, which indicate that home payments are averaging just 13.6% of a family’s median income.

Why does Re/Max Southern Realty think this is such good news?

Well, I’ll tell you why!  It’s good news for our listing sellers because there are a lot of motivated buyers out there.  It’s good news for our buyers because they have a unique opportunity to shop for what they really want in a home.  It’s good news for our investors because there will never be a better time to shop for investment properties that have nothing to do but go up.

If you step back to 2006-2008, and remember that an average family was laying out more than  20% of their total income just to meet the mortgage–then you can see another reason why this is such good new!

And while we are talking about history–one of the goals The Veach Team has for 2012 can be found in a 2009 report put out by  the US Government Census Bureau where they stated that “In 2004, about 58 percent (+/– 0.6) of American families (current owners as well as renters) could afford to purchase a modestly priced home . . .”    We believe the Emerald Coast will be able to boast the same figures in 2012 and 2013, largely due to the efforts of The Veach Team and Re/Max Southern Realty!

Now getting back to the above mentioned report on This Month in Real Estate– another of the commentators, Bryon Ellington–stated that buyer’s window of opportunity is not all that large due to the fact that current listings are being scooped up, and new home construction–which dropped dramatically during the recent housing problems in the country–is not expected to keep pace with the rising housing demand.

In closing, I have to quote Ellington’s own closing statement, which was: “If you are looking to get the most from the sale of your house, or if you want to buy before prices rise in your area—talk to your real estate professional to learn more about what a housing shortage could mean for you.”

SO, If you are out there listening, and you are thinking of buying or selling a home in Panama City Beach, Destin or anywhere in Emerald Coast area—then the Veach Team is prepared to help you find the Florida home of your dreams. Contact us today, and let us show you why “Life is a Beach” here in beautiful Destin! And don’t forget to “LIKE” us on Facebook and Twitter – we’d love to talk with you.

If you’re like a lot of northwest Florida home owners, you may have been a little confused (and concerned!) by the brouhaha surrounding both the recent debt ceiling debates and the subsequent reduction of the US credit rating. We were. Taking a cue from Keeping Current Matters, we want to take a moment to talk a little about the possible impact the downgrade of the credit rating will have on mortgage interest rates.

Mortgage rates normally run parallel to the country’s Treasury bonds. When many people are buying Treasury bonds, the return on those bonds decreases. If less people are interested in buying bonds, then the return on those bonds must increase, in order to draw more buyers. If bond returns increase or decrease, mortgage rates normally do the same.

Some experts feel that the downgrade in the country’s credit rating will cause people to see greater risk, and therefore be less likely to invest in US Treasury bonds. That would necessitate returns to push upward; any investor tends to seek higher returns, as compensation for the perceived greater risk. If that happens, mortgage rates will probably increase.

Others believe the exact opposite is likely to happen. If people think the US is struggling financially, they may question the entire world economy. If they do, there’s a possibility that they might still trust the US bonds over other investments. If that occurs, Treasury bond returns would decrease as demand increases. Mortgage interest rates may actually soften in this scenario.

Again, no one knows for sure what will happen. Rates could go up, go down or stay relatively unchanged. If you would like to know what interest rates are doing locally, contact me for a personalized quote.

If you’re thinking of buying or selling a home in Panama City Beach or Destin, the Veach Team is prepared to help you find the Florida home of your dreams. Contact us today, and let us show you why “Life is a Beach” here in beautiful Destin! And don’t forget to “LIKE” us on Facebook – we’d love to talk with you.

Eglin AFB is the largest AFB in the United States.  The Eglin Reservation has over 288,000 acres that they use for a bombing range, Special Opps trainning, and Ranger training.  With the BRAC realignment Eglin is getting a new division in from Fort Bragg.  They have just cleared off a few hundred acres to start building the new base. We are planning to have near 12,000 new troops by 2010.  They are also getting the new F-35 at Eglin Field. Crestview is the closest town to the new base and there is very affordable housing and plenty off it.  My office has a new subdivision going in called Freedom Walk designed just for our Military.  Homes are being built  with GREEN Construction and will priced in the $180,000 range.  www.destinrealestateinfo.net

Semper Paratus- always ready for your referrals.