🔥 STR Homes for Sale Scouting Report 03/16/24

In this week's STR scouting report:

• Featured STR Properties: We scout STR deals in Gulf Shores, AL and St. Augustine, FL.

• STR Homes for Sale: This week’s STR off-market deals, top picks, and new STR listings.

• News Nuggets: The latest Airbnb, real estate, STR regulations, and economic news to stay informed.

• STR IMN Conference: Save BIG with early-bird pricing PLUS exclusive discount code for STR Scout subscribers.

STR Scout Team

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FEATURED STR PROPERTIES

Beautiful Resort Cottage for under $450k in Gulf Shores! 

🏡 $423.75K | Gulf Shores, AL | 1290 sqft

• Type: Cozy 3BR 2BA resort cottage

• Income Potential: Achieves $60-65k, with highs up to $72k

• Sleeping Capacity: Beautifully sleeps 12

• Amenities: 2 pools, club house, game room, and beach access

• Features: Fully furnished, modern 2022 build, and gold fortified

Unlock Beachfront Luxury: $90K/Year Income-Generating St. Augustine Resort Condo!

🏡 $695,000 | St. Augustine Beach, FL | 1300 sqft

• Type: Turnkey 3BR 2BA beachfront resort condo

• Income Potential: $80-90k yearly, with 3 months booked solid in the future

• Sleeping Capacity: Comfortably accommodates guests

• Amenities: Beachfront, 2 pools (one zero entry and one heated)

• Features: Large, renovated, open condo with upgraded finishes

• Investment: High income producing, turnkey investment

STR HOMES FOR SALE | TRENDING THIS WEEK

😎  STR EXPERT AGENTS - TOP PICKS

🏡 $540K | Chimney Rock, NC: Charming 4br 3ba retreat, 1836sqft nestled in scenic surroundings. Revenue projections highlight an average of $69k, with peaks up to $103k. Boasts dual kitchens and spacious guest accommodations, perfect for investment. Enjoy serene porches with swings and rockers, ideal for relaxation. A stone's throw from Chimney Rock State Park, Asheville, and Lake Lure, providing plentiful attractions. An enticing blend of comfort and location. View Property Details
STR Agent: Tyler Coon
Text or Call: +18286202541

🏡 $1.449M | Columbia Falls, MT: Stunning 5br 4ba home, 4269sqft with amazing mountain views near Glacier National Park. Revenue Projections suggest top earning 5-bedroom homes average $191k in the area. Features upscale designer finishes, a STR friendly community minutes from Glacier NP & Whitefish Ski Resort, and spacious living spaces including 5 bedrooms + 2 Living Rooms + media room buildout. Ideal STR or family home. View Property Details
STR Agent: John Hayes
Text or Call: +18503754113

😎  STR FOR SALE BY OWNER - OFF MARKET

$340K | Columbus, OH: Renovated 2023, 3br/1.5ba SFH, furnished, <3 miles to downtown. $2300-$2400/mo rent estimate. $100K in renovations, tax abatement possible. Ideal for travelling nurses. Near Children's Hospital. Upcoming area. Airbnb co-host option. View Post

$1.35M | Sevierville, TN: 3 cabins on one lot, 2 mi from Dollywood. Prime location. Two 2BR Cabins and One 1BR. Projected gross income about $200k/year. View Post.

$385k | Bonita Springs, FL: Charming first home with over $45k revenue in 2022. Annual insurance costs ~$3300. Non-HOA community, no rental restrictions. Trustworthy cleaner available. Not on MLS yet, listing soon. View Post.

$399k | Seaview, WA: Renovated 2BR, 1BA STR near Long Beach. Clean, modern style. Year-round tourist destination. Trailing revenue: $53,706.80. Fully furnished, turnkey. Hot tub, fully equipped kitchen. View Post.

$430k | Gulf Shores, AL: Beachside condo sold fully furnished. Gross income: $47k in 2023, $51k in 2022. View Post.

$389k | Torch Lake, MI: Fully renovated home with amazing views. Rated top 3 Most Beautiful Lakes in the US. Sold fully furnished. $35k Gross 2023. Potential additional $20k/mo during Traverse City Horse Show. Public lake access 150yds away. View Post.

$520K | Penrose, NC: Beautiful 2020 3bed 2ba house/STR. 1428 sq ft on ~1 acre with creek and mountain views. $64,500 income since 2021 on Airbnb. Fully furnished option. Ideal for STR or dream home. View Post.

Post your STR FSBO.

😎  STR ACTIVE LISTINGS

$714K | Sevierville, TN: Successful investment property grossed $82,000 in 2023. Enhance income potential with upgrades: accent walls, bedroom furniture, walk-in shower, movie room, gaming options. View Post.

$875K | Broken Bow, OK: Dream A-Frame cabin. Sleeps 6, gourmet kitchen, hot tub cabana, firepit, outdoor fireplace, large covered deck. Midcentury Modern style. 1.361 acres forest. Heart of Hochatown, close to trails, Broken Bow Lake, restaurants, shops, bars. View Post.

$730,000 | Branson, MO: Stunning property with 5 Beds/5 Baths. Also comes with boat launch, playground and pool or hot tub. Prime location, newly reduced price. Don't miss this opportunity! View Post.

$445K | Ennis, TX: Historic colonial home with guest house. Easy commute to downtown Dallas. Updated with new roof, paint, fence, plumbing, and electric. Main house and guest house rentable separately. Guest house currently provides long-term rental income covering half mortgage. View Post.

$349K | Crystal Beach, TX: Beach season approaching, perfect for spring, summer, fall, and early winter vacations. Fully furnished home sleeps up to ten. View Post.

Post your STR listing.

NEWS NUGGETS

🧭 Navigating New Horizons: Airbnb's Fresh New CFO Leadership and Strategic Vision

Ellie Mertz steps in as Airbnb's CFO at a crucial time, aiming to steer the company through the changing travel landscape. With a history of navigating crises and leading successful initiatives, Mertz's focus will now be on geographic expansion, new products, and leveraging AI to innovate customer service and product development.

• Leadership in Transition: Mertz takes over during a critical phase of adaptation for consumer travel.

• Strategic Expansion: Focus on geographic growth and diversifying offerings to adapt to market shifts.

• AI Investment: Utilizing AI for product innovation and customer service enhancements.

This strategy includes enhancing efficiency, expanding Airbnb's footprint, particularly in the Asia-Pacific, and introducing new services to enrich the traveler's experience. Excited to see how AI will impact the Airbnb host and guest experience! (Wall Street Journal)

📈 Rising Foreclosures Signal Tougher Times Ahead in U.S. Housing Market: Foreclosure filings have seen an uptick nationwide, with a significant rise in states like South Carolina, Missouri, and Pennsylvania, despite a slight decrease from the previous month. This rise, reported by ATTOM, highlights the evolving challenges homeowners face against a backdrop of high living costs.

• Market Shifts: An 8% year-over-year increase in foreclosure filings underscores the changing dynamics in the housing market.

• State Variances: Significant rises in states contrast with decreases in places like Georgia and New York.

• Affordability Crisis: With homeownership becoming increasingly unattainable, the market faces pressures from high mortgage rates and home prices.

While overall numbers remain below the 2008 crisis levels, the current trend signals growing concerns over housing affordability, exacerbated by soaring mortgage rates and property values (Fox Business)

🎥 Airbnb Sets New Standards for Privacy with Comprehensive Camera Policy: Airbnb announces a global ban on indoor security cameras in listings to prioritize privacy, simplifying its approach towards in-home surveillance. The revised policy, developed in consultation with the Airbnb community and privacy experts, also updates regulations on outdoor cameras and noise decibel monitors. Hosts must disclose any outdoor surveillance before booking, ensuring devices do not invade indoor or private outdoor spaces.

• Privacy First: Indoor security cameras banned in all listings.

• Outdoor Surveillance Clarity: New rules for outdoor cameras and noise monitors, requiring host disclosure.

• Community Collaboration: Policy updates result from extensive community and expert consultations.

The policy, effective April 30, aims to balance security needs with privacy expectations, reflecting Airbnb's commitment to trust and safety within its global community. (Airbnb)

TRENDING HEADLINES

🏠 Real Estate Headlines

• February's housing market thaw: Inventory surges as 'lock-in' effect eases. What does this mean for buyers and sellers navigating a shifting market?

• Florida's growing condo crisis: Rising costs hit retirees hardest, turning dreams into doubts. Why are those who built paradise now facing its loss?

• Realtor fees slashed in landmark deal: How will the $418 million settlement reshape home selling and shake up the market?

• Revolution in real estate: Buyers and sellers to negotiate agent commissions, potentially saving billions. How will this reshape the housing market?

• Digital age dilemma: Do real estate agents still matter? One expert dives into the debate, defending the irreplaceable value of agents in the property market.

• Powell's stark warning: Bank failures loom over the commercial real estate crisis, stirring fears and opportunity. How will the sector navigate this epic storm?

🚑 Economic Headlines

• Voter frustration boils over the US housing crisis. With soaring home prices and a dream fading, can political promises meet the challenge?

• Biden vs. Trump: Economic showdown. Are perceptions matching reality? Unpack the contrasts in a tale of two economies by reviewing the charts.

• Economic slowdown and sticky inflation: A dual challenge for the Fed. How will consumer spending shifts and rate cuts impact the future?

• Inflation's stubborn grip: U.S. prices tick up, challenging the Fed and shaping the election. Will Biden's economic strategies ease the squeeze?

👮 Short-Term Rental Regulation Watch

• Muskegon (MI) debates a halt on new short-term rentals to tackle neighborhood concerns and soaring housing costs. Will this move preserve community charm or stifle tourism?

• Nantucket's new short-term rental rules kick in, sparking a wave of registrations. How will this change the island's rental landscape and what do owners need to know?

• After nearly a decade, Florida's Legislature passes a bill to centralize short-term rental regulation. Will this end local disputes or strip cities of control? Discover the battle's outcome.

• Wilmington's STR debate heats up, from zoning changes to community impacts, will new rules balance tourism and local life? The town's decision looms large.

STR LOAN SOLUTIONS

💰 Get some cash out of your STR, build cash reserves, get a STR bridge loan for quick cash, or secure a STR loan Pre-Approval letter so you can write stronger purchase offers. Get your STR loan quote today.

Inflation's Grip on Housing: STR Investor’s Shift Strategies Amid Higher Than Expected Inflation Numbers.

Despite hopes for cooling inflation, the latest CPI report indicates a 3.1% year-over-year increase, suggesting interest rate cuts may be postponed. This development particularly impacts borrowers, as high inflation and interest rates make borrowing costlier. What it could mean for mortgage rates and STR hosts:

• Mortgage Rate Outlook: Immediate impact on mortgage rates is unlikely, with hopes of rate cuts dimming after inflation remains above the Fed's 2% target.

• Investment Financing Impact: Elevated mortgage rates will lead to alternative financing options, including adjustable-rate mortgages, rate buy downs, DSCR loans.

• Creative Financing Strategies: Creative financing solutions like buying property "subject to" existing mortgages and seller financing emerge as valuable strategies for investors looking to acquire short-term rentals despite higher interest rates.

• Consumer Discretionary Income: Persistent high inflation will impact consumer discretionary spending, affecting STR demand, increasing occupancy, decreasing gross revenue. Pricing flexibility and property and listing optimization is essential.

MORTGAGE RATE WATCH - by HOST FINANCIAL

💵 DSCR rates INCREASED from prior week. Get a quote.

💸 Treasury yields INCREASED from prior week to 4.29%.

🏦 Conventional mortgage rates DECREASED to 6.74%. 👍

2024 CONFERENCES & EVENTS
The 3rd Annual IMN Short-Term Rental Forum Early Bird Special + STR Scout Discount!

📅 This is a great event to attend to gain STR investing insight, seize new opportunities, and make new connections.🏡 

Register today for early-bird pricing and get our exclusive STR Scout discount. Use code STRVIP20 for and addtional 20% discount!

Share the love and our exclusive discount code with all your friends, associates, and clients who want to save 20%!