If you’re thinking about selling your house, you’re likely hearing about the cooling housing market and wondering what that means for you. While it’s not the peak intensity we saw during the pandemic, we’re still in a sellers’ market. That means you haven’t missed your window. Realtor.com explains: “. . . while prospective home sellers may lament that they missed their prime window, in reality, this is still a terrific time to sell. In fact, according to a recent Realtor.com® home seller … [Read more...]
If you are thinking of selling your investment property anytime in the next 1 to 5 years…
You should consider selling now. Our market has seen price increases for 11 straight years and many economic experts are saying we’re headed for a market correction. The unprecedented rise in interest rates has significantly reduced demand for homes. Recent headlines show Zillow lost over $50 million in the 3rd Quarter which looks relatively good compared to the Open Door loss of $928 million. The CEO of Redfin (which has an iBuying arm) says “When the shiitake mushrooms hit the … [Read more...]
Mortgage Rates Will Come Down, It’s Just a Matter of Time
This past year, rising mortgage rates have slowed the red-hot housing market. Over the past nine months, we’ve seen fewer homes sold than the previous month as home price growth has slowed. All of this is due to the fact that the average 30-year fixed mortgage rate has doubled this year, severely limiting homebuying power for consumers. And, this month, the average rate for financing a home briefly rose over 7% before coming back down into the high 6% range. But we’re starting to see a hint of … [Read more...]
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