Real Estate - Keeping it Simple Ray Dove

Yes, the Spring real estate market is underway, seeing a few more properties come on the market, yet even with higher interest rates homes are still going up in value and selling quickly

As we go forward and tranistion to the new state law I wanted to share my insights on the obligations of buyers agents  as they represent buyers, as it pertains to the new law. Feel free to reach out with any questions or concerns.

Yes, even with low inventory we are seeing homes sale, with some homes getting multiple offers. 

Yes, we continue to struggle with very low inventory, yet buyers are looking and buying homes with a few homes being sold after receiving multiple offers. If we see any interest rate reductions I think the market will get busier with more buyer activity and the inventory will contuinue to shrink as all indications are that we will not see any increase in any inventory for the next few years

What is going on with the mortgage rates? What does it look like for interest rates in the near future? Are there and loan programs that are appealing to buyers? Is this a good time to buy or sell? 

Happy New Year! December was another month of continued low inventory, the only real highlight was that interest rates had fallen to the low 6% which helped with increased sales. I believe that rates will fall to the mid 5's by the spring of 2024. As a reminder, Jan 1 2024 ALL buyers MUST sign the new state approved Buyer Broker Service Agreement.  Thinking of selling? Get your home prepared to sell. If you are looking to buy a home then get pre-approved for financing. I expect a busy 1st quarter for 2024 with good homes selling quickly