The Economic Impact of Buying a Home

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Falling Mortgage Rates Are Bringing Buyers Back

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  If you’ve been hesitant to   list your house   because you’re worried no one’s buying, here’s your sign it may be time to talk with an agent. After months of high rates keeping buyers on the sidelines, things are starting to shift. Rates are already coming down due to a number of economic factors. And yesterday the  Federal Reserve  cut the Federal Funds Rate for the first time since they began raising that rate in  March 2022 . And while they don’t control mortgage rates, this sets the stage for mortgage rates to fall even further than they already have – especially since more cuts from the Fed are expected into next year. And lower  mortgage rates  are bringing more buyers back into the market. Lisa Sturtevant, Chief Economist at  Bright MLS , says: “A drop in the cost of borrowing will help fuel more homebuyer demand . . . Falling rates will also bring more sellers into the market.” The best part? You can  take advantage  of th...
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Is Your House Priced Too High?

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  Every  seller  wants to get their house sold  quickly , for as much money as they can, with as few  headaches  as possible. And chances are, you’re no different. But did you know one of the biggest things that could jeopardize your success is the  asking price  for your home? Pricing your house correctly is one of the most crucial steps in the selling process. So, how do you know if you’re missing the mark? Here are four signs your high asking price might be turning potential buyers away—and why leaning on your  real estate agent  is the best way to course correct. 1. You’re Not Getting Many Showings or Offers One of the most obvious signs your house may be overpriced is a lack of showings. If it's been on the market for several weeks and only a few buyers have come to see it—or worse, you haven’t gotten any  offers —it could be a clear indication the price isn’t matching up with what buyers expect. Because buyers who have been lo...
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Talking Real Estate with Hope Leitner, January 2023

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  2023 is already making headlines for the Real Estate Market. Don't let the bad news scare you. There really is no crash in sight according to the professionals. San Diego is even less likely to experience a steep downturn. There's just too much demand for what comes on the market here. The gains in 2020, 2021 & 2022 were so extreme, any decline at all just indicates a stabilizing market.   Rising interest rates may mean that some buyers will look into risky loans, this article below will arm you with the knowledge necessary to avoid a mortgage pitfall.    I love hearing from everyone on this email list. I am here to support you whatever your real estate needs might be.     January - Ponder this -  “We are born in ignorance, we die in ignorance, but maybe sometimes we learn something important and pass it along to others before we die. Or we write it down in a little book.” - Greg Bear - Reading is what helps us overcome our ignorance, our fe...
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