Rapidly rising mortgage rates brought balance to our local housing market. Price growth has also decelerated on a monthly basis since May of this year. However, we have not seen major “price declines”, suggesting home values are not likely to plummet, though we may see more price adjustments to come this winter.
Interest rates have declined in recent weeks, from the most recent high average of 7.08% on November 10, 2022, to 6.33% on December 8, 2022. While uncertainty remains around what mortgage interest rates will do — especially in response to any future Fed rate adjustments — mortgage rates are anticipated to decline, or at least stabilize, in 2023.
Buyers who are able to purchase in today's market have more negotiation power than we’ve seen in years. Buyers are now able to purchase existing homes at a lower price point than they would have a year ago, with the option to refinance down the road when interest rates go down. Home ownership is a sound investment towards your future!
This “rebalancing of the housing market” has resulted in increased inventory levels and longer days on the market to sell a home, causing some sellers to make concessions on price and offer credits towards closing costs and/or buyer’s rate buydowns.
Thanks to the generosity of 20+ donors it will be a Christmas to remember for a single-parent mother of three young children.
A total of $2,580 in support raised!
As you know, we currently live in highly inflationary times. What you may not know is that over the past 40 years, real estate has been proven to be the number one asset class as a protection against inflation and build long-term wealth.
As Real Estate Counselors, we have honed our skills to identify profitable real estate opportunities. We actively own investment properties and understand the local investment market. We’re professionals you can trust with experience in the following areas:
Our sister company, Do Good Property Management ensures our clients’ investments are well maintained and generate maximum profits. As a “give-back”, 5% of profits are dedicated towards local non-profits.
Regardless of market conditions, life continues to go on, and some life events require a move. If you’re looking to buy or sell in today’s market, it’s never been more important to work with a Real Estate Counselor. We will help evaluate potential options, recommend trusted professionals (Mortgage Lender, Renovation Contractor, etc), craft a success plan moving forward, and negotiate on your behalf, allowing you to make decisions confidently to achieve your real estate goals.
Rebekah Barron I Tamara Rowe I Christian Busnardo I Jill DarlingDay
The Real Estate Counselors have a rich legacy dating back to 1977 with experience in residential, investment & commercial real estate sales and property management. Our experience and professionalism are without rival in the local real estate industry.