JULY 2020 | ISSUE 127
Here's the Latest

For those of you who closely follow the local real estate market, we just wanted to keep you up to date on the real estate market for Gulf Front, Gulf View, and other foreclosures in our area that you can always find on our website. Click the links below to view our updated list of foreclosures. Not looking for a foreclosure? Feel free to create a customized search, or browse our site to view all properties that are currently on the market.

Real Estate vs. COVID-19 Pandemic
Data shows that the market dipped during the stay-at-home orders in March and April. The good news, though, is that most transactions were postponed and not cancelled.  

Freddie Mac’s chief economist Sam Khater says: “Real estate demand has staged a remarkable comeback, and given the chronic supply shortage, the rebound in demand should provide support to home prices.”

He also added: “So far, data suggests the economy hit its low point during the first two weeks in April and has been steadily improving since. Still, the economy is significantly below its pre-March levels. The housing market is making a much more pronounced recovery than most other segments of the economy. The current housing shortage and homeowners’ strong equity positions will likely rescue real estate from any downturn.”

Across the country, and especially here locally, the supply-and-demand imbalance is putting an upward pressure on home prices and is causing incremental increases in prices. Our daily local MLS hot sheet reflects that inventory is still declining. There are more homes selling or going under contract than are listed every day. In our market area for June 2020, there were 939 new listings added to MLS, 1285 properties pended, and 750 properties that sold.

With this supply shortage, the National Association of Realtors projects that home prices will rise about 4% in 2020 and 2021. CoreLogic and Freddie Mac’s forecasts have home prices rising at about 2.5% in 2020 and 2021. So far, home prices have not gone down during the pandemic and actually have increased.

“This has been a spectacular recovery for contract signings and goes to show the resiliency of American consumers and their evergreen desire for homeownership,” says Lawrence Yun, NAR’s chief economist. “This bounce back also speaks to how the housing sector could lead the way for a broader economic recovery.”

Here on the Emerald Coast, it continues to be a strong seller’s market. Are you considering selling? Contact the Sold in Paradise Team for a complete market analysis personalized just for you!
This lovely home is located in the highly desirable West 30A area. A prime location, there is a beach access just 0.3 miles from the home as well as a walking trail to the north. You're also close to Gulf Place, Seaside, state parks and all the amazing restaurants along 30A. With beautiful finishings and meticulously maintained – this home would make a fabulous investment property with rental projections reaching up to $49k!
Also located in the West 30A area, this beautiful new construction home sits on a generous sized lot allowing room for a guest cottage or second garage. There is a large screened-in back porch with outdoor kitchen overlooking the in-ground pool. Feel like a beach day? You're just one mile from Ed Walline Beach Access. In a desirable location, with luxurious finishings inside – this lovely home is worth taking a look!
This second floor Gulf front unit at Silver Dunes is a sweet little paradise. Glass sliders lead to a spacious covered balcony overlooking the grass courtyard and amazing Gulf views. Silver Dunes has much to offer including stunning beachfront, pool, hot tub, tennis court, game room, shuffle board, grass courtyard used for movie nights, and more. Fully furnished in the heart of Destin, this unit would make an ideal investment property with rental projections reaching nearly $36k! 
How to Create Habits That Stick
If you really want to make your new habits stick, then you need to be honest with yourself and approach your new habits in a realistic and progressive way. After all life is a marathon, not a sprint!

Here is a simple 5-step process for creating any habit:

Make it So Small You Can’t Fail. Most people try to change too much too quickly. The real key to making a habit stick is to make it so small that you can’t say no. If you want to get in shape, start by doing one push up. If you want to become smarter, start by reading one page. Set yourself up for success and make your new habits so easy to achieve that they are impossible to fail.

Apply the Compound Effect to Your Habits. If you were to take the habits listed above and compound them by only 1% each day, in one year you would have improved each habit roughly 37%. While that might not seem like a lot, if you compare this progress using something easy to understand - say finances - that’s the difference between making $100,000 a year and $137,000 a year! If you were to extend the compounding effect to 10 years, you would start off earning $100,000 a year and $1,370,000 a year!

Break Big Habits Down. If you continue compounding habits, you will make dramatic improvements in the first 2–3 months. But it’s important that you keep your habits easy and reasonable. For example, if your goal is to write your new book for 60 minutes a day, break the 60 minutes in four 15 minute chunks that you complete throughout the day.

Never Miss Twice. Look, you will mess up and slip on your habits. And it’s okay. The rule of thumb is that when you fail, you get back on the horse immediately so that you never miss twice. It’s ok to miss one workout this week, but don’t you dare let it extend to 2 or 3. If you follow the rule of “Never Miss Twice” you can fail your way to any goal you desire.

Be Patient and Find a Sustainable Pace . Greatness takes time, building an exceptional life takes time, and building exceptional habits that make you an exceptional human being take time. Instead of fighting this law, work with it. Play the long game and go at a sustainable pace. As you’ve already seen, even a 1% daily improvement will have a huge payout if you stick with it for long enough.

So be patient and remember that slow and steady wins the race.
Source: www.forbes.com