Why is it that my keychain always has everything except the one key I actually need? It’s like carrying around a tiny, metallic scavenger hunt!
Home Sales Stall
More homes are for sale, and mortgage payments are dropping, but sales aren’t picking up like you’d expect. Even with active listings up 36% and median mortgage payments down to $2,534, homes are sitting on the market longer. Pending sales dipped 8.4% year over year, as buyers seem to be waiting for even better deals.
The market might heat up this fall, though, with more affordable homes available and mortgage rates continuing to decline. It’s a great time to shop, but don’t expect the frenzy until spring! – Read more here
On the Brink of Literal Collapse
Rancho Palos Verdes, California is literally crumbling. Landslides have left hundreds without power, and some areas are shifting by 10 inches a week. Yes, you read that correctly.
The city declared a state of emergency as homes in the Seaview and Portuguese Bend neighborhoods are at serious risk. Experts say the ground is moving faster than anyone ever expected. After two years of severe storms and heavy rainfall, the weak clay beds beneath the city just can’t hold up anymore.
This is wild. People can actually see the earth moving beneath their homes! – Read more here
Mauricio Umansky
Celebrity real estate agent Mauricio Umansky predicts U.S. home prices won’t drop anytime soon due to low inventory and homeowners holding onto low-interest rates.
He explained that despite the government’s efforts to reduce inflation, the housing market remains tight, driving prices to record highs. Even with potential interest rate cuts from the Federal Reserve, Umansky believes pent-up demand will keep prices elevated.
The takeaway? Until supply increases significantly, the market won’t cool down. – Read more here
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How Gen Z Is Buying Homes Younger Than Millennials And Boomers Did – Watch here!
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I Shot A $10,000,000 Real Estate Home – Watch here!
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