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ON THE
HOUSE
03.25.24
Quarter 2 Housing Trends
Before we dive into the dynamic world of real estate and mortgage, first order of business is this recent clip from popular “shark” Barbara Corcoran, talking about when home prices are going to JUMP! Watch it here
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Video of
the Week
Learn more here
Pacaso, a luxury vacation home co-ownership platform, is expanding its offerings with lower priced shares starting at *only* $200K, to make upscale living more attainable. Sounds pretty nice right? Honestly – we’re not quite sure…
Read more here: Watch the full video HERE!
Pacaso is doing What?
Industry Insights
Fed still sees rate cuts in 2024, but a more shallow easing path
My Take: :
Looks like the Fed is going to take it slow. Inflation is not coming down at a pace they want to get to their targeted 2%. The other variable I see in this is the unemployment rate – currently we are at 3.9% according to the Bureau of Labor Statistics. Fed Chair Powell has said if that ticks to to 4.1% or 4.2%, that would warrant a rate cut. I think we may see our first rate cut this summer as unemployment starts to tick up.
Read more here:: www.reuters.com
Housing Trends
High Hopes for Spring
My Take:
Inventory will remain constrained and rates will remain at current levels around 7(ish)%, with possibility of drops towards the end of the quarter.
The most important thing if you are considering a move in this market is to be educated and prepared. Get pre-approved with a soft credit check, look at all options, including the possibility of buying before selling (yes – we have access to programs that can do this!), and aligning with a local expert agent for your market.
Video
Why You Need To Start Now
If you’re one of many first time homebuyers out there hoping to buy soon, I want to emphasize that waiting on the sidelines for the “perfect” time to enter the market is not a realistic game plan.
Whether you’re unsure about the process or feeling overwhelmed, just remember, it’s never too early to start preparing your finances. You don’t need a hefty down payment or flawless credit to begin.
Let’s tackle those doubts together and pave the way to your dream home. Reach out and let’s make it happen!
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