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Uncategorized Buy Now or Wait? There are times in life when having a crystal ball would really make life easier.  Like when Powerball was over $1 billion.  So, without a crystal ball, we look at the signs of the times and make the best guess. The most important factor that will either inspire or depress the real estate market is […]
Uncategorized Prediction for the 2023 Real Estate Market
Uncategorized What will the real estate market be like in 2023? What will the real estate market be like in 2023?   The key to the 2023 real estate market will be mortgage rates.  Graphic 1 shows the rise of mortgage rates over 2022. Graphic 1:  Mortgage rates for 2022 The rise in mortgage rates has dramatically impacted buyers’ affordability.  For example, if a family could […]
Uncategorized Home Prices are Dropping. What Does it Mean? Home Prices are dropping.  What does it mean?   During the week of July 14-21, more that 800 sellers reduced the price they were asking for their home.  In the five zip codes of South Tampa, there were 63 sellers who reduced the price.  The media price drop was 3.28%.  Since the median home price […]
Uncategorized It’s Still Cheaper to Buy than Rent Home prices have increased by over 30% since last year.  Feeding this increase were the low mortgage rates, lack of inventory and strong buyer demand.  With mortgage rates now above 5%, some people think that buying a house is too expensive.  While the cost of borrowing money has increased, buying a home is still a […]
Uncategorized Is New Construction Right for You? Some home buyers in today’s market are frustrated.  There are so few homes on the market and they are competing with many other buyers.  Some buyers are opting to buy a new construction home.  There are some benefits and some issues to consider. Benefits: Many of the developments building large tracts of homes, have models […]
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