You’ll Hear These 3 Market Questions All Season (And a Must-Read Tree Safety Tip!)

Success Story!

 

This one’s been quite the ride. This home had been a rental for about 15 years, so as you can imagine, there were a few condition issues to work through. 

We had to do some work, but in the end, we were able to sell it pretty much as-is which was a big win for everyone.

The new buyer got a great deal and is excited to make it their own, and my seller is thrilled with how everything turned out. I spoke with her after closing she’s happy, relieved, and ready for her next chapter.

Big shoutout to Jed Carpenter awesome to work with you on the other side! Always a pleasure when both sides collaborate to make things smooth.
And a huge thanks to Jim Huff for the referral appreciate the trust as always. Another one wrapped up and a new homeowner happy on Wellington Drive!

 

 

Whether it’s at a family gathering, your company party, or catching up with friends over the holidays, the housing market always finds its way into the conversation.

Here are the top three questions on a lot of people’s minds this season, and straightforward answers to help you feel more confident about the market.

 

The number of homes for sale has been rising over the past few years. According to data from Realtor.com, there have been more than one million homes on the market for six straight months, something that hasn’t happened since 2019 (see graph below):

 

That means two things:

• Buyers have more options.
• Sellers have more places they can move to next.

Many homeowners who held off are realizing the shelves aren’t bare anymore. So, if you hit pause on your home search last year because nothing fit your needs, it may be worth another look. With more homes on the market now, you’re not competing for the same handful of listings like you were a couple of years ago.

And because there’s a bit more to choose from, homes aren’t disappearing the minute they hit the market. That gives buyers more space to breathe, more options to compare, and a little more time to make a confident decision.

2. “Will I ever be able to afford a house?”
Affordability is starting to improve. Finally.

It’s been a tough few years for buyers. But this year brought some much-needed good news:

• Mortgage rates have been easing.
• Home price growth has been moderating.

That adds up to a monthly mortgage payment that’s hundreds of dollars lower than it would have been just a few months ago (see graph below):

 

Buying still isn’t easy, but the numbers are starting to improve. For a lot of people, that means buying a home is becoming a more realistic goal again.

3. “Should I wait for prices to come down?”

A lot of people worry that the housing market is about to crash, but the data doesn’t point in that direction. Yes, the number of homes for sale has been rising, but it’s still nowhere near the level needed for prices to fall significantly on a national scale. On top of that, homeowners today have a lot of equity and are in a much stronger financial position than they were back in 2008.

Of course, every local market is a little different. Some areas are still seeing prices climb, while others that saw huge spikes a few years ago are leveling off or seeing small corrections. But overall, the national picture is clear: experts surveyed by Fannie Mae project home prices will keep rising, just at a slower, more normal pace (see graph below):

 

That’s why waiting for a major price drop to get a deal isn’t a very strategic plan. History shows the same thing over and over: people who spend time in the market tend to build the most long-term wealth, not the people who try to time the market perfectly.

Bottom Line
Talk about the housing market can feel loud and confusing, especially when you’re hearing so many different takes. If you want to understand what these trends mean for your goals, let’s connect and walk through it together.

 

It's hard not to get into the holiday spirit when you bring out the ornaments and decorate your tree. Keep in mind however that both real and artificial trees can pose a hazard in your home if they are not properly cared for. Here are a few tips and reminders on how to keep your tree and your family safe.

If you are using a natural tree, make a fresh cut across the tree's base before setting it in the stand and immediately place in water. Keep the tree's water container full at all times, checking the water level daily.

Place the Christmas tree well away from the heat registers, space heaters, fireplaces, wood stoves, televisions, computer monitors and other heat sources.

Check all Christmas tree lights, other electric decorations and electrical appliances for wear (frayed cords, for example). Use only UL approved electrical decorations and extension cords.

Unplug tree lights and decorations when out of the room or sleeping.

Place the Christmas tree clear of doors to keep the emergency escape route clear of trees, packages and furniture.
My best wishes to you this Christmas Season. Happy Decorating!

 

 

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