By Ted Shoop
Amongst the new year resolutions, many are likely weighing their options when it comes to housing. Is now a good time to buy or sell? What’s going on in the economy, job market, home inventories, and what is on the mind of virtually everyone – mortgage rates.
The reality is that homes sell year-round; however, there are peaks and valleys every year. If your listing recently expired or you put off buying your first or next home because of all the doom and gloom offered by the news and social media, pay attention: Don’t Give Up!
A few of the lenders I work with shared this past week that they have begun underwriting some loans with rates below 6%. This hasn’t occurred in over three years! Prices have stabilized and inventories are slightly up from a year ago.
The next Federal Reserve meeting will be held on January 27-28. Although the Fed’s earlier comments lean toward pausing further reductions this quarter, the actual performance indicators are consistently beating “expert” projections. What does this mean? Well, my crystal ball hasn’t worked in decades. But, after studying real estate trends, local market data and experiencing the bubble of 2007-2009 first-hand—Get Ready—the real estate rocket ship is on the launch pad, fueled, and ready to take flight!! Contact me if you would like more statistics for your neighborhood.
—Ted Shoop is an experienced local Realtor with eXp Realty focused on serving customers within Hammock Bay, Freeport and Walton County communities.
