In real estate, it’s always important to keep up with recent trends in the industry. Beach real estate is no different. Glenn Phillips, CEO of Beach Homes Realty, discusses 6 recent trends in beach real estate.
Mortgage Rate Independent. Several headlines discuss how mortgage rates are stifling real estate. However, many beach home buyers purchase homes with cash. Beach home buyers can afford to buy what they want, regardless of the current economy. This means that mortgage rates have less of an impact on beach real estate.
Inventory “Issues.” During COVID, beach home inventory became increasingly tight. While the inventory has increased some, it’s not the whole story. The demand for beach homes is high enough that appropriately priced homes sell quickly, preventing further inventory increases. Additionally, “phantom” inventory bloats the beach home inventory numbers. This “phantom” inventory includes overpriced homes that don’t sell.
Strong But Very Practical Demand. Unlike the COVID buying frenzy, buyers aren’t scrambling to purchase a beach home. Today’s buyers want a better selection and wait for appropriately priced homes that fit their needs.
Competitive Bidding “Spotty.” The properties getting the most competitive bids are priced appropriately. These homes are neither undervalued nor overpriced. These homes also rarely get competitive bids and are generally sold quickly.
Aspirational Pricing. Aspirational pricing includes homes listed for the market value during COVID-19. However, the market has since settled down, bringing down prices. Buyers wait for the prices of these houses to decrease before purchasing. While this pricing strategy is decreasing in popularity, it still occurs.
Multiple Market Shopping. While sellers may think they’ve priced appropriately for their local market, buyers are looking across multiple states and coastlines. This means sellers compete against houses in different markets, not just their own.
Real estate trends are always changing, and beach real estate is no different. Understanding these beach real estate trends can help you sell your home. Visit beach-homes.com to connect with agents who are willing and able to guide you through beach real estate.
When listing your home online, you may be wondering if the website page visits matter. Glenn Phillips, CEO of Beach Homes Realty, discusses whether webpage views matter when listing beach homes.
Webpage View: When you click on a listing and a new page appears, that is a webpage view. However, views are not the whole story for web pages.
Not All “Webpage Views” are Equal (Audience Matters!). Instead of the quantity of views, the audience viewing the page matters more. More views don’t necessarily equate to quality views. Quality views are views by users looking at other properties, similar pages, etc. because they show interest in the house.
High Number Can Reveal Overpricing. If the webpage views are very high but there hasn’t been any traction, the property is likely overpriced. Buyers may still be interested in the property but aren’t willing to pay the current price.
Low Number Can Reveal Overpricing. If buyers believe a house is overpriced, they may not even click on the webpage. This doesn’t mean there’s no interest in the property, but buyers aren’t willing to consider it at the current price.
While it may be exciting for your house to have high webpage visits, it isn’t the main goal of listing your house. Instead, you want to sell your house. So, having webpage visits from quality visitors is more important. If you’re ready to sell your beach home, visit beach-homes.com to connect with agents ready to help you get started.
If you’re buying a beach home, you may consider using an escalation clause. Over the last several years, this strategy has shifted with the price variation during COVID. Glenn Phillips, CEO of Beach Homes Realty, discusses whether you should use an escalation clause when buying a beach home.
Escalation Clause: Automatic Price Increase Formula. These clauses state that if you are outbid on a house, you will automatically bid higher up to a certain point. These were very popular during COVID-19, and there are a few reasons to use them.
Keeps Offer Amount Competitive. If you submit a price and get outbid, the seller may not come back to you for another bid. Escalation clauses attempt to keep your offer competitive in this case.
Less Popular. Escalation clauses were popular during COVID-19 but have since calmed down. It’s also become less popular because sellers and selling agents don’t want to do the math. Escalation clauses can become complicated with multiple increments, ceilings, and more.
More to Offer Than Money. Besides money, other things factor into an escalation clause. You could offer the timing of when you take possession, closing costs, and more. Additionally, sellers are tired of going through multiple offers. They just want your best offer upfront.
Varies By Local Market. Escalation clauses happen less in some markets than they do in others. However, the opposite is true as well. Using these clauses will be more beneficial in some areas than others.
So, should you use an escalation clause in your offer to buy a beach home? It’s a strategy that suits some people but isn’t necessary. Ask your local agent about whether it will give you an advantage or not. Visit beach-homes.com to connect with agents ready to help you find your beach home.
When deciding where to buy your beach house, you’ll want the best location. It’s a big investment, so it’s natural to feel this way. Glenn Phillips, CEO of Beach Homes Realty, discusses this question.
Depends: It’s Personal. Everyone has different personalities of people they like to be around. Homes, especially beach homes, are no different. If you aren’t sure what type of beach you like, shop around and try a few out.
Know Your Goals. Knowing the best beach for you can be easier if you know your goals. You need to ask yourself what your goals are for your beach house.
Full-Time or Part-Time? Whether you’re at your beach house all year or only at certain times changes the type of property you seek. For example, if you aren’t there frequently, you may want a smaller home with less upkeep.
Accessibility? Think about how easy it is to get to the location. More inaccessible locations won’t be as busy, but they may also have fewer conveniences. On the other hand, more accessible locations will be busier but closer to conveniences.
Quiet or Busy? Similar to location accessibility, you’ll want to determine if you want a quiet or busy beach. Know whether you want a peaceful and quiet experience or if you want to be near bustling activity.
Seasonality? There can be times of the year where the experience is very different from other times. This could be an influx of tourists to condos or hotels or residential snowbirds who come during certain parts of the year. Seasonality also affects whether businesses are open or not.
Affordability? There can be drastic differences in the price of a beach home between similar homes in different locations. If you like the house but not the affordability, there’s likely a similar one in a different market in your price range.
Date the Beach. Visit different beaches at different times of the year if you aren’t sure about the beach. You can also get a short-term rental or lease to experience what it’s like to live there before making the big purchase.
So, the answer to the question “where is the best place to buy a beach home” comes down to preference. It’s where you find the experience you’re seeking at a price you can afford. Visit beach-homes.com, where you can find agents who will help you find the best beach for you.
Generally, there are two phases for the real estate market: a buyer’s market and a seller’s market. It’s always important to know which type of market the industry is currently in. Glenn Phillips, CEO of Beach Homes Realty, discusses whether beach real estate is in a buyer’s or seller’s market.
Seller’s Market: Command Higher Prices. A seller’s market typically occurs when the market has limited inventory and a lot of demand. This allows sellers to seek higher prices for their properties, and in turn, buyers are forced to pay more.
Buyer’s Market: More Options. In a buyer’s market, there are plenty of homes for sale but fewer buyers. Sellers cannot charge as much because buyers will move on to the next house. This causes sellers to decrease their prices in an attempt to get rid of their house.
Pricing: Supply and Demand. These different types of markets affect pricing. During a seller’s market, prices increase, while prices drop in buyer’s markets. This is explained through supply-and-demand economics.
Increase in Inventory (sort of). Recently, beach real estate has seen a slight increase in inventory. However, this may not indicate the signs of a buyer’s market quite yet. This is because much of the inventory is “phantom” inventory.
“Phantom” Inventory. Appropriately priced beach homes sell quickly and don’t stick in inventory. However, some sellers think they can still get the same price they would have during COVID. These overpriced listings don’t go anywhere. This is called “phantom” inventory. So, while inventory has increased, it isn’t moving. This has led to a stalemate in the market.
“Stalemate” Market. Buyers have strong demand, but the high prices are holding. There aren’t enough transactions and we’re limited by inventory. This means that neither the buyer nor the seller have an upper hand right now.
Whether we are in a buyer’s or seller’s market depends on the market you’re in. It varies from state to state and even beach to beach. Visit beach-homes.com to connect with expert beach agents who can explain the current market of your beach.
Selling a beach home is a big business decision and should be treated as such. There are plenty of ideas you may think are true about selling that could cost you money. Glenn Phillips, CEO of Beach Homes Realty, reviews six myths that will cost you when selling a beach home.
Myth #1: The Local MLS and Zillow are sufficient and effective. This idea is a myth. The reality is that the buyer for your property comes from some distance away. While the local MLS shows your property on thousands of websites, it isn’t narrowed down to beach property. Buyers on Zillow look for every type of property, so your beach house gets lost.
Myth #2: An Open House is Critically Important. Many agents like open houses because they may get additional listings from on-looking neighbors. However, buyers from several states away will want to look at the house on their schedule. These buyers won’t plan their schedule around your open house. Instead, having a period where buyers can come view the house opens it to more viewers.
Myth #3: Zillow’s Zestimate reflects current value. Particularly at the beach, this statement isn’t necessarily true. Zillow’s data varies from place to place, and their algorithm doesn’t always know how to handle certain areas. Similarly, other automated valuation models (AVMs) aren’t accurate for niche properties.
Myth #4: Beach home buyers want the same type of homes popular a decade ago. Buyers see dated homes or homes with dated features as needing upgrades. They may also want a discount to account for updating costs. Additionally, while the house itself may still be stylish, the technology and appliances inside may not. Having old or outdated technology can bring your home’s value down.
Myth #5: Fewer beach houses for sale = sellers can ask a premium price. While this seems like supply-and-demand logic, it may not exactly be true. Today’s buyers are more informed than ever, so they won’t pay outrageous Covid prices. Buyers, particularly beach home buyers, will wait to buy because they don’t have to.
Myth #6: Little risk in “testing the market” with a high price. Sometimes buyers list their homes just to see what happens. This almost always leads to sellers getting less money in the final transaction. If you’re testing the market and haven’t seen action in 10 days, you need to have a backup plan. Comparably priced houses often have the best price at the sale table. Buyers see comparable pricing as evidence that you are serious about selling your home.
When it comes to selling real estate, several myths about the process exist. However, these tips can better prepare you to sell your home. Visit beach-homes.com to connect with expert beach agents willing and able to help you through the entire process.
Buying a beach home is a big investment, and there are several ways to approach the process. However, some methods can save you time and money. Glenn Phillips, CEO of Beach Homes Realty, discusses best practices when buying a beach home.
Investor or “I Want What I Want”: Two ways of approaching beach real estate include investors and discretionary buyers. Investors concern themselves with the ROI of their purchase. They consider all of the money put into the house and whether they can return the profit. Alternatively, discretionary buyers aren’t necessarily concerned with profit. They will buy what they want, regardless of price or potential gains.
Know Your “Number”: Similar to an investor or entrepreneur, you need to know what number you’ll take. Consider what your maximum price is for the house and stick to it. You should also be realistic with your price. Look for homes below that price to account for extra or unexpected expenses.
Use a Beach Expert Agent: Beach real estate comes with several challenges unique to typical real estate. Some unusual factors include HOA requirements, erosion, the water and sand environment, and more. Beach expert agents understand these challenges and more.
Do the Due Diligence: Don’t get caught up in the excitement of finding your dream home. Taking the time to do a survey, look at the HOA, title insurance, and more will save you money and headaches. Problems usually arise from a lack of due diligence.
Keep Options Open: Don’t become too fixated on one property. Even if you think it’s perfect for you, deals can fall through. Oftentimes, however, you end up with an even better deal or property. Keeping your options open also allows for better negotiations.
It’s exciting to buy a beach home, but it’s important to take the process seriously. With these tips, you can get your dream home quicker and save money. Visit beach-homes.com to connect with expert beach agents ready to help you through the entire process.
Staging a beach house for sale requires a strategic blend of aesthetic appeal, comfort, and an evocation of the coastal lifestyle that prospective buyers seek. With the right approach, a well-staged beach house can stand out in a competitive market and connect emotionally with buyers, making it easier to secure a favorable sale. Highlighting the natural beauty of the surroundings, creating an engaging atmosphere, and showing off the property in its best light are essential elements in the selling process.
If you have an eye for style, you can do this yourself with what you already own. Add a few new flourishes, like fluffy white bath towels, fresh flowers, and even a set of wine glasses arranged in a chic countertop vignette, and you can pull together a refined look without spending a fortune on professional staging.
The six most effective ways to stage your beach house for sale include optimizing curb appeal, decluttering and depersonalizing the space, enhancing natural light, incorporating subtle coastal-themed decor, showcasing outdoor living areas, and ensuring the home is impeccably clean and well-maintained. These strategies work together to create a welcoming, appealing, and aspirational environment that potential buyers can envision as their own seaside retreat. So, let’s dive in!
The first impression is crucial, and curb appeal sets the tone for the entire viewing experience. Ensure the exterior of your beach house is inviting and well-maintained. A pristine exterior can often decide whether a potential buyer will be curious enough to want to peek inside. A fresh coat of paint (or a mighty power wash), manicured landscaping, and a stunning entrance can instantly elevate the curb appeal of your beach home, even when the scenic coastal views steal the spotlight.
Additionally, tasteful embellishments, including lush potted plants, statement lighting, an eye-catching front door, and clean pathways at every access point, can significantly enhance the attractiveness of your property. This enchanting beach house in Corona Del Mar, California, takes curb appeal to the next level with its white-washed brick facade, tiered green gardens, expansive steel and glass windows, and welcoming Dutch doors.
Subtle coastal decor can enhance the beach house vibe without overwhelming potential buyers. Think about using a soft color palette inspired by the sea, such as ocean blues, pale greens, and sandy neutrals. Incorporate natural elements like seashells, driftwood, and nautical accents to evoke the coastal lifestyle in a tasteful and sophisticated manner.
This modern living room design blends contemporary furnishings with timeless nautical influences, rustic bleached woods, and layers of woven textures, including sisal rugs, baskets, and chunky knits. A calming, neutral color palette echoes the serene coastal setting.
A clutter-free environment allows potential buyers to visualize themselves living in the space. Remove personal items, excess furniture, and unnecessary decorations. This creates a neutral canvas that makes rooms appear larger and more inviting. Depersonalizing the space helps buyers imagine their own belongings and lifestyle fitting into the home.
For instance, displaying too many family photos—a common staging faux pas—can create an overwhelming sense of the current inhabitants, so it’s best to hide those away at least temporarily. Replace personalized décor with beautiful coffee table books, artwork, and shapely or textural decorative accents that work together cohesively.
Beach homes are prized for their connection to the outdoors and abundant natural light. Maximize this feature by cleaning windows, opening curtains, and using light, airy colors for walls and furnishings. Plus, strategically placed mirrors reflect light, amplifying it to create a brighter, more spacious feel.
Additionally, harnessing natural light may even reduce your use of artificial light during the day, decreasing utility costs and minimizing overall energy consumption. Natural light contributes significantly to our mental health and sense of well-being. It can improve mood, provide essential Vitamin D, and synchronize our internal body clock or Circadian rhythm.
A clean, well-maintained home signals buyers that the property has been cared for. Pay attention to both major and minor details, from deep cleaning carpets and scrubbing bathrooms to fixing leaky faucets and ensuring all appliances are in working order. A pristine home is more attractive and suggests fewer immediate concerns for potential buyers.
Outdoor spaces are a significant selling point for beach homes. Highlight patios, decks, and gardens by staging them with comfortable seating, dining areas, and tasteful décor. Consider adding elements like natural outdoor rugs, native foliage, a glowing fire pit, and string lights to create a magical beach vibe. This allows buyers to envision relaxing and entertaining in these areas.
Here, an expansive folding door system offers a seamless transition from inside and out. Framing extraordinary views of the Pacific Ocean, the doors open onto a crystalline infinity pool, a lawn seating area, and a tucked-away outdoor kitchen. Plus, the property sits in an enviable position just steps away from the sandy beach.
By focusing on these six key areas, you can effectively stage your beach house to appeal to a wide range of buyers, enhancing its marketability and helping to secure a swift and profitable sale. Each step contributes to creating an environment that feels welcoming, luxurious, and ready to move into, making it easier for buyers to imagine themselves enjoying the beachside lifestyle in your property.
Selling a beach home requires some unorthodox thinking. When it’s time to sell, think like a shark. Just like in the show Shark Tank, you are selling an investment to your buyers. The sharks, or buyers, ask questions to determine if they will buy your house. You need to think like an entrepreneur selling an investment to buyers. Glenn Phillips, CEO of Beach Homes Realty, discusses ways to think like a shark when selling your beach home.
“Addressable Market” (Who is Your Customer)? You aren’t selling your beach home to everybody, just your addressable market. The customer pool for beach homes is narrow. Beach home buyers have a lot of interest in that type of property. They are also looking for different lifestyles, from big homes to condominiums. When selling your beach home, think about how to reach that addressable market.
How Do You Market (Reach Your Customer)? Putting your home on the MLS addresses local needs but is not necessarily national. Specialized websites, like beach-homes.com, have buyers from across the nation looking specifically for beach properties.
What is Your Value Proposition? Buyers think about what they are getting out of your home. Buyers who pay attention to value propositions are less likely to overpay. These “sharks” think of buying beach property as an investment. This means you need to make your home the best value for the price.
What Makes You Different? Beach home buyers look at other homes not only in your area but across the country. You need to consider what sets your beach home apart from your competition. Also, think about what makes your home special to the buyer, not just to you.
Is Different Desirable? When considering what makes your home different, also think about whether that difference is desirable to the buyer. If the uniqueness of your home is very personal, it likely won’t translate to buyers.
With these tips in mind, you can sell your beach home more methodically. You can also reach the correct buyers more easily, as well as make your transaction flow more effectively. If you’re ready to sell your beach home, visit beach-homes.com to find agents who will help you think like a shark.
