Think Nobody's Buying Homes Right Now? Think Again.If you've been thinking about selling, you've probably seen plenty of headlines suggesting buyers have just about disappeared. But there's a big
What’s Up with Real Estate?
Dated: March 15 2024
Views: 552
National Real Estate News
The Wealth Effect
Home ownership builds long-term wealth. A lot of it.
Over the course of 2023, the total home equity of mortgage holders rose 8.6% or $1.3 trillion.
And the average home equity per borrower is $298,000.
Home equity is the market value of your home minus the remaining mortgage balance. So equity goes up as:
1) your home price rises, and
2) you make principal payments.
Swings and roundabouts
The Fed meets on March 20 to discuss interest rate policy.
The market expects them to keep rates steady (the last rate increase was July 2023).
If anything, the data over the last week (CPI, PPI, retail sales) gave the Fed more reason to be cautious about cutting too soon.
Core inflation is coming down, but slowly.
Average 30-yr mortgage rates moved back up near 7%.
Get Top Dollar
Thinking about selling your home?
If you want to get the best price (and who doesn't?) it's critical that the exterior and interior of your home makes a great first impression on interested buyers.
It's also important that your listing price reflects recent comparable sales and the local supply/demand balance.
The best way to achieve these goals? Seek the advice of an expert, ME!
Local Market Trends
As of Friday, March 15, 2024
Thinking about selling your home--
If you want to get the best price (and who doesn't)
It's critical that the interior and exterior of your home makes a great first impression on buyers.
It's also important that you're listing price reflects recent home sales and the local supply/demand balance.
| Area | Median Price | Active Listings | New Listings - 5 days | Median Days on Market |
|---|---|---|---|---|
| 11702 | $850,000  0.2% | 30 1% | 2 | 226 3.3% |
| 11795 | $799,495  -0.2% | 38 0.5% | 1 | 223 3.8% |
Local Market Trends (/) from Feb. to Mar. 2024.
/) from Feb. to Mar. 2024.Contact Me Today to Learn about my Boutique Concierge Experience...
𝙔𝙤𝙪𝙧 𝙁𝙖𝙫𝙤𝙧𝙞𝙩𝙚 𝙍𝙚𝙖𝙡𝙩𝙤𝙧,
𝗟𝗶𝘀𝗮 𝗣𝗮𝗹𝗲𝗿𝗺𝗼
𝗟𝗶𝗰𝗲𝗻𝘀𝗲𝗱 𝗔𝘀𝘀𝗼𝗰𝗶𝗮𝘁𝗲 𝗥𝗲𝗮𝗹 𝗘𝘀𝘁𝗮𝘁𝗲 𝗕𝗿𝗼𝗸𝗲𝗿
𝗦𝗶𝗴𝗻𝗮𝘁𝘂𝗿𝗲 𝗣𝗿𝗲𝗺𝗶𝗲𝗿 𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝗶𝗲𝘀
𝟭𝟮𝟲 𝗪. 𝗠𝗮𝗶𝗻 𝗦𝘁., 𝗕𝗮𝗯𝘆𝗹𝗼𝗻
𝗖𝗲𝗹𝗹 #: 𝟲𝟯𝟭-𝟵𝟮𝟭-𝟵𝟵𝟳𝟵
Lisa Palermo
Lisa is a strong and savvy negotiator whether her client is the buyer or the seller. She never leaves her client's corner.Lisa’s seasoned experience, sharp instincts, foresight and ability to an....
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