🔥 (29) STR Homes for Sale | Scouting Report 8-7-24

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Hello there,

Crazy times indeed! This week we dive into how low housing supply can still lead to price instability, even when interest rates fall. Learn why the Dow dropped 1,000 points and explore top trending STR homes for sale.

🔥 In this issue:

• Perspective: Why falling rates could mean falling home values.

• STR Deals: Top trending STR Homes for Sale.

• Trending News Nuggets: Key headlines investors are following.

Thank you for being a valued subscriber.

Happy scouting!

Andy Thoms

STR Scout

Perspective on Housing Values: Market Volatility Could Impact Housing Values When Rates Fall—Here’s Why

You’ve probably heard the media expert narrative that extremely low housing supply across the U.S means home prices can only go up.

But hold on a second—what if I told you that even with America’s housing stock supply challenges, there's a significant risk that prices could go down if/when rates drop?

Let's unpack this together (here is my perspective).

5+ Acre Estate with Amazing 360 Degree Mountain Views

$1.475M | Kalispell, MT: Spacious 6BD, 4BA estate, 3983 sqft, incredible mountain views.

• Featuring Fantastic Mountain Views of Whitefish Mountain Resort.

• Great central Flathead Valley location with easy access to Glacier National Park & Whitefish.

• Fully updated with 6+ bedrooms to host large groups & 5+ acres to add amenities.

• Rental projections range from $225k - $250k! Finish the ADU Apartment for even more revenue!

View Property Details
STR Agent: John Hayes
Text or Call: 850-375-4113
Website

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OFF-MARKET PROPERTIES

💰 STR Loan Quote: Rates have dropped like a rock, get a DSCR loan quote for your STR in minutes.

$120K | Peoria Heights, IL: Turn-key, fully furnished STR. Grossed $21,750 in 2023, similar projection for 2024. Close to hospitals, airport, convention center, and Bradley University. View Post

$220K | Winchester, TN: Oversized 2BD, 1BA home. Features tiled shower, hardwood floors, large kitchen. Successful Airbnb on track for $31K this year. Fully furnished option. View Post

$229K | Atlanta, GA: Downtown STR condo with no rental restrictions. Generates approx. $35K annually. 24-hour staff for guest check-ins. Ideal for upcoming 2026 Soccer games. View Post

$285K | Campton, KY: Under-construction 3BD, 2BA 1550 sqft cabin on 1.75 acres. Needs $150K to finish. Pre-build appraised at $385K, potential sale value $420K+. Estimated $70K+ annual revenue. View Post

$425K | Panama City Beach, FL: 1BD, 2BA, 934 sqft condo on the 16th floor at Tidewater Beach Resort. Strong rental income, $67K GRI in 2023, projected $55K for 2024. View Post

$530K | Westmore, VT: 5BD, 2BA home with lake and mountain views. Near Lake Willoughby, beach, and hiking. New furnace, water heater, kitchen appliances, and finishes. View Post

$795K | Shenandoah, VA: 3BD, 2BA home with tiny house and game room garage. Two creeks, private swimming hole, and hot tub. Top earning STR near Shenandoah National Park. View Post

$925K | Rock Hill, SC: Income-producing property with 4 units. Furniture, appliances, and bookings included. Gross income $145K. STR and MTR opportunity. View Post

$985K | Sevierville, TN: 2 cabins on 3.7 acres. Projected revenue $150K+. Alpine Lodge: 2BD, 2BA, 1500 sqft; Bearfoot Lodge: 3BD, 2BA, potential basement rental. Partial seller financing. View Post

$1.1M | Kemah, TX: Fourplex with 2 units of 3BD, 2BA and 2 units of 2BD, 2BA. Includes 4 storage units and a large master storage unit. Built in 2020. Offers owner financing with large down payment. View Post

$1.58M | Sevierville, TN: 3 cabins. Projected revenue $250K+. Sugar Bear: 3BD, 2.5BA, 1400 sqft; Lone Wolf: 4BD, 2.5BA, 2200 sqft; Angel View: 2BD, 2BA, 1400 sqft. Partial seller financing. View Post

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$199K | Indianapolis, IN: Renovated duplex with 1BD, 1BA per side. Grossed over $31K in 2023. Renting on Airbnb for $50/night. Fully turn-key excluding TVs above fireplaces. View Post

$265K | Hendersonville, NC: 1BD, 1BA 450 sqft retreat on 0.94 acres. Features screened porch, sauna, new well pump, and upgraded systems. Near Chimney Rock and Lake Lure. View Post

$315K | Glen, NH: 2BD, 1BA 664 sqft condo at Linderhof Resorts. Overlooks golf course, pool, and clubhouse. Fully furnished, successful Airbnb. Near ski areas and attractions. View Post

$335K | Port Bolivar, TX: 3BD, 2BA, 1080 sqft home in Ocean Shores. Features covered patio, wooden deck, island kitchen with granite countertops, and walk-in pantry. View Post

$435K | Sevierville, TN: 2BD, 2BA cabin overlooking Douglas Lake. Less than 25 minutes from downtown. Currently on a rental program with Evolve. View Post

$445K | Blaine, WA: 3BD, 2BA 1070 sqft condo at Cabana Club. Features 2 decks with bay and creek views. Furnished and successful STR. Clubhouse, pool, and beach access nearby. View Post

$470K | Gulfport, MS: 3BD, 2BA home with 2000 sqft. Gulf views, fully furnished. Luxury finishes, modern amenities, near beach. $7K credit towards rate buy down for full price offer. View Post

$495K | Divide, CO: 3BD, 2BA, 1728 sqft home near Pikes Peak. Modern luxury meets rustic charm. Airbnb-friendly. Includes back deck, marble-tiled baths, and open floor plan. View Post

$530K | Westmore, VT: 5BD, 2BA home with 2673 sqft on 1 acre. Features waterfall countertop, custom mini bar, and breathtaking lake views. Near Lake Willoughby and Burke Mountain. View Post

$579K | Sevierville, TN: 3BD, 2BA, 1407 sqft new construction cabin on Douglas Lake. Near Pigeon Forge and Great Smoky Mountains. Features boat dock, sand beach, and hiking trails. View Post

$795K | Graham, TX: 4BD, 3BA home with lake views, in-ground pool, hot tub, and new roof. Includes 1000 sqft insulated shop with power, HVAC, and Wi-Fi. Ideal for STR or animal lovers.

$850K | Fort Lauderdale, FL: Mini resort with 2-story 2BD/1BA units, 5-unit building with four 1BD/1BA and one studio, plus home with cottage. Total 9 units. Gross revenue $200K in 2023. Close to downtown. View Post

$949K | Galveston, TX: 3BD, 2BA 1380 sqft front row beach house. Newly remodeled, large deck, Gulf views. Fully furnished, sleeps 13. Includes washer & dryer. Neighborhood amenities. View Post

$950K | Naples, FL: 3BD, 2BA + den fully renovated home on acreage. 1905 sqft with vaulted ceilings. No HOA. Renovation completed January 2024. View Post

$1.15M | Jacksboro, TN: 9BD, 5BA, 6000 sqft STR property near Norris Lake. Includes 3 units, saltwater pool, hot tub. High revenue potential with no HOA. View Post

$1.425M | Broken Bow, OK: 6BD, 6.5BA cabin on a pond. High 2023 revenue of $259K. Fully furnished with existing cleaner and handyman. Future bookings in place. View Post

$1.45M | Panama City Beach, FL: 4BD, 4BA 2484 sqft home near the beach. Open-concept layout, stainless steel appliances, ensuite baths, large decks, and gulf views. View Post

$2.7M | Grove, OK: 12 cottage rental retreat on 15+ wooded acres with 1600+ ft of Carey Bay waterfront. Each cabin fully furnished with kitchen, W/D, HVAC, patio, and fiber wifi. View Post

📉 Dow sinks 1000 points: Weak economic data and AI stock concerns spook investors. Rising unemployment and a cautious Federal Reserve contribute to the turmoil, with major indexes and tech giants like Nvidia and Microsoft taking significant hits. Watch for opportunities in vacation rental pricing amid economic shifts.

🏡 Mortgage Rates Plummet: 30-year average hits lowest since April 2023 dropping to 6.28%, its lowest since April 2023. Lower rates can lead to increased home buying, impacting short-term rental demand. It’s time to get a rate quote.

📉 Airbnb Shares Plunge: Airbnb warns of shorter booking windows and lower Q3 revenue due to economic uncertainty, leading to a 15% drop in shares. As travel caution grows, hosts may need to adjust pricing and marketing strategies to attract last-minute bookings. Average daily rate grew to $169.53.

👀 VRBO Realities: Ryan and Stephanie Walker turned a spontaneous purchase into a thriving VRBO in the Poconos, but not without challenges. They learned permits take time, good contractors are scarce, and initial guest bookings are slow. Key takeaway: success requires patience, a budget cushion, and strong local support.

✂ Price Cuts Surge: Median home prices fell to $439,950 in July, with price reductions hitting a two-year high. Cities like Tampa, Charlotte, and Phoenix saw significant drops. This trend indicates opportunities for buyers but challenges for sellers needing realistic price expectations.

🏃‍♂️ Buyers Back Out: Last-minute home purchase cancellations are soaring, with nearly 15% of deals falling through in June. Minor issues during inspections often mask deeper affordability concerns amid rising prices and high mortgage rates. Sellers are responding by slashing prices to attract buyers.

📝 Navigating STR Regulations: As the short-term rental industry grows, cities like New York, Los Angeles, and Las Vegas have implemented stricter regulations to manage issues like noise and overcrowding. These measures impact STR hosts, but critics argue they do little to increase affordable housing, while potentially shifting listings to less transparent platforms.

🌍 Anti-Tourism Hits STRs: Rising anti-tourism sentiment in hotspots like Barcelona and Maui is driving stricter short-term rental regulations. While policymakers aim to boost housing affordability, experts argue these measures offer limited relief, as larger economic factors also influence housing costs.

📉 Fed to Cut Rates Amid Market Woes? Following a stock selloff and signs of economic slowdown, experts predict the Federal Reserve will aggressively cut rates starting in September, possibly by 0.5 percentage points. This could benefit borrowers, but savers might see lower returns on high-interest accounts.