As mortgage rates rose last year, activity in the housing market slowed down. And as a result, homes started seeing fewer offers and stayed on the market longer. That meant some homeowners decided to press pause on selling.

Now, however, rates are beginning to come down—and buyers are starting to reenter the market. In fact, the latest data from the Mortgage Bankers Association (MBA) shows mortgage applications increased last week by 7% compared to the week before.

So, if you’ve been planning to sell your house but you’re unsure if there will be anyone to buy it, this shift in the market could be your chance. Here’s what experts are saying about buyers returning to the market as we approach spring.

Mike Fratantoni, SVP and Chief…

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During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That’s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or with different home features. Keep in mind, a luxury home isn’t only defined by price. In a recent article, Investopedia shares additional factors that push a home into this category: location, such as a home on the water or in a desirable city, and features, the things that make the home itself feel luxurious.

A recent report from the Institute for Luxury Home Marketing (ILHM) explains just how much remote work impacted the demand for second and luxury homes:

“The unprecedented ten-fold increase towards…

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One of the first steps in your homebuying journey is getting pre-approved. To understand why it’s such an important step, you need to understand what pre-approval is and what it does for you. Business Insider explains:

“In a preapproval [sic], the lender tells you which types of loans you may be eligible to take out, how much you may be approved to borrow, and what your rate could be.”

Basically, pre-approval gives you critical information about the homebuying process that’ll help you understand your options and what you may be able to borrow.

How does it work? As part of the pre-approval process, a lender will look at your finances to determine what they’d be willing to loan you. From there, your lender will give you a pre-approval letter to…

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2023 is off to a great start! Check out some of the top local news stories and see what events are coming up on the Emerald Coast as we head into February!

Plans are already underway for the 75th Destin Fishing Rodeo

https://www.thedestinlog.com/story/news/local/2023/02/01/75th-annual-destin-fishing-rodeo-is-being-planned-now/69843784007/

Public art project will put 20 colorful birds around Okaloosa County

https://www.thedestinlog.com/story/news/local/2023/01/26/emerald-coast-heron-project-is-part-of-okaloosa-public-arts/69837896007/

Destin officials sink 180-foot ship to create artificial reef

https://www.mypanhandle.com/news/local-news/okaloosa-county/destin-officials-sink-180-foot-ship-to-create-artificial-reef/

2023…

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2023 is off to a great start! Check out some of the top local news stories and see what events are coming up on the Emerald Coast as we head into February!

Walton County bookstore voted best in Florida

https://www.wjhg.com/2023/02/01/walton-county-bookstore-voted-best-florida/

Let the good times roll at the Baytowne Mardi Gras Parade and Street Party

https://www.baytownewharf.com/what_to_do.php?month=2

Mimmo’s 30A Brings Authentic, Southern Italian Flavors to the Beach

https://30a.com/mimmos-30a/

Don't Miss The 34th Annual Sandestin Gumbo Festival - Feb 14-25

http://www.sandestingumbofestival.com

Café Thirty-A Raises Record-Breaking $50,000 for Caring and Sharing of South Walton

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