It’s finally happening!! My application has been approved and sometime in December, I will be initiated into that very sought after and exclusive club called Grandma!! Our Alexis and Brandon are expecting a sweet baby girl, and I can’t wait!
In other news, I have enrolled myself in a little Educational Bootcamp this week. I was invited to see Brian Buffini’s Mid-Year Market Update on Monday and was so inspired that I attended real estate related meetings on Tuesday and Wednesday, and will go to one more tomorrow!
Brian Buffini is known for making his “Bold Predictions” which he has made for the past 15 years with a great deal of accuracy. He is a 37 year veteran of real estate and shares his experience of market trends. For this update, he invited Dave Stevens, former president and CEO of the Mortgage Bankers Association, to share his market insights and predictions as well. Together their message was optimistic: Inflation is slowing and Interest rates will come down to the mid 5% by the end of this year, and even into the 4% in 2024.
At today’s meeting, I learned the 10-year note rate just dropped. As it closely aligns with mortgage rates, it is another indicator that the real estate market is heading toward a more balanced state. I am no expert on the economy, but I do listen in and then try to confirm what has been said. I found this article online at Yahoo Finance which basically reiterated what I’ve been hearing.
Only time will tell if these predictions come to pass. I hope so. I know there are many buyers who would like a chance to own their own home. There are also many homeowners who would like or need a different home than the one they have.
My hope is that by spring of 2024, we’ll have a more inviting market. Homeowners will be ready to make a change because the interest rates are more reasonable and they can finally exchange their too big or too small home for one that fits them now. And of course if homeowners are willing to list their homes for sale, there will be something for new buyers to move into.
I think now is the perfect time to get ready. Buyers, talk to a mortgage lender. Find out what your credit score is, what you can afford, what the payments would be, or if you have any financial issues to clean up before entering the market. Sellers, work on that deferred maintenance, start to clean out and declutter your current home, figure out where you would like to move, and start looking.
I think this is really Good News for all of us. If you are ready to learn more, I would love to be of help. Give me a call, respond to this email, or head on over to FirstHomeEd.com so we can start preparing!
So many good things to come,
Diana
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