Summer may be coming to a close on the coast, but the fun continues beyond the season’s end! Check out some of the top local news stories and see what events are coming up on the Emerald Coast as we head into September!

Okaloosa and Walton Counties send help following Hurricane Idalia aftermath

https://www.nwfdailynews.com/story/news/local/2023/08/31/okaloosa-and-walton-counties-send-help-after-hurricane-idalia/70719817007/

A Destin Tradition Celebrating 45 Years! Destin Seafood Festival Oct. 6-8

https://destin.lifemediagrp.com/a-destin-tradition-celebrating-45-years/

Mattie Kelly Arts Foundation will usher in the fall 2023 cultural arts season with something new ... and salty! Inaugural Salt Water Music Fest Oct 12-14

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Plenty of people are still moving these days. And if you’re thinking of making a move yourself, you may be considering the inventory and affordability challenges in the housing market and wondering what you can do to help offset those. A new report from Gravy Analytics provides insight into where people are searching for homes and what they’re prioritizing most right now. That information could help you plan your own move.

1. People Are Moving to Cities with Lower Housing Costs

One big factor motivating where buyers are going is affordability and that’s no big surprise. People are relocating to areas that have less expensive housing options. As a result, small cities are thriving. Hannah Jones, Economics Data Analyst…

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Wondering if it still makes sense to sell your house right now? The short answer is, yes. Especially if you consider how few homes there are for sale today.

You may have heard inventory is low right now, but you may not fully realize just how low or why that’s a perk when you go to sell your house. This graph from Calculated Risk can help put that into perspective: 

As the graph shows, while housing inventory did grow slightly week-over-week (shown in the blue bar), overall supply is still low (shown in the red bars). Compared to the same week last year, supply is down roughly 10% – and it was already considered low at that time. But, if you look further back, you’ll see inventory is down even more significantly.

To gauge just how…

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If you’re a homeowner, odds are your equity has grown significantly over the last few years. Equity builds over time as home values grow and as you pay down your home loan. And, since home prices skyrocketed during the ‘unicorn’ years, you’ve likely gained more than you think.

According to the latest Equity Insights Report from CoreLogic, the average homeowner has more than $274,000 in equity right now. That much equity can help you achieve certain goals. In a recent article, Bankrate elaborates: 

“While the pandemic created serious challenges, the silver lining for anyone who owned a home was the sizable equity gain. Understanding how home equity works, and how to leverage it, is important for any homeowner.”

Here are…

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As the days grow longer and the temperatures rise, summer has graced us with its radiant presence! Check out some of the top local news stories and see what events are coming up on the Emerald Coast as we head into August!

Walton County predicts 2023 tourism season to be the biggest in years

https://www.mypanhandle.com/news/local-news/walton-county/walton-county-predicts-2023-tourism-season-to-be-the-biggest-in-years/

Black Creek Music Festival, Walton County's Newest Music Event, Is Taking Place August 18–20 At The Outpost

https://www.emeraldcoastmagazine.com/black-creek-music-festival/

Seaside eateries make Southern Living’s top 20 on 30A

https://seasidefl.com/news/seaside-eateries-make-southern-livings-top-20-on-30a

Now…

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As the days grow longer and the temperatures rise, summer has graced us with its radiant presence! Check out some of the top local news stories and see what events are coming up on the Emerald Coast as we head into August!

Whale shark spotted off the coast of Destin

https://www.al.com/news/2023/07/watch-fishermen-encounter-a-whale-shark-off-the-coast-of-destin.html

Capt. Royal Melvin Heritage Park is officially open in Destin

https://www.thedestinlog.com/story/news/local/2023/07/20/capt-royal-melvin-heritage-park-is-now-open-in-destin/70424695007/?itm_medium=recirc&itm_source=taboola&itm_campaign=internal&itm_content=BelowGalleryFeed-FeedRedesign

Special Operations Command will remain at Okaloosa's Hurlburt Field

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You may have heard some people say it’s better to rent than buy a home right now. But, even today, there are lots of good reasons to become a homeowner. One of them is that owning a home is typically viewed as a good long-term investment that helps your net worth grow over time.

Homeownership Builds Wealth Regardless of Income Level

You may be surprised to learn homeowners across various income levels have a much higher net worth than renters who make the same amount. Data from First American helps illustrate this point (see graph below):

What makes wealth so much higher for homeowners? A recent article from Realtor.com says:

“Homeownership has long been tied to building wealth—and for good reason. Instead of throwing rent…

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While the wild ride that was the ‘unicorn’ years of housing is behind us, today’s market is still competitive in many areas because the supply of homes for sale is still low. If you’re looking to buy a home this season, know that the peak frenzy of bidding wars is in the rearview mirror, but you may still come up against some multiple-offer scenarios.

Here are a few things to consider to help you put your best foot forward when making an offer on a home.

1. Lean on a Real Estate Professional

Rely on an agent who can support your goals and help you understand what’s happening in today’s housing market. Agents are experts in the local market and on the national trends too. They’ll use both of those areas of expertise to make sure you have…

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While this isn’t the frenzied market we saw during the ‘unicorn’ years, homes that are priced right are still selling quickly and seeing multiple offers right now. That’s because the number of homes for sale is still so low. Data from the National Association of Realtors (NAR) shows 76% of homes sold within a month and the average saw 3.5 offers in June.

To set yourself up to see advantages like these, you need to rely on an agent. Only an agent has the expertise needed to find the right asking price for your house. Here’s what’s at stake if that price isn’t accurate for today’s market value.

The price you set for your house sends a message to potential buyers.

Price it too low and you might raise questions about your home’s condition…

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