10-2-23 September 2023 “belated”

Hello everyone,

As always, I am happy to write to you in hopes that I will inspire you to think and possibly to move forward toward accomplishing your dreams. September 2023 was a month of slowing down of the local market in the Florida Panhandle. By slowing down, I mean, prices appeared to be decreasing while interest rates were increasing. Prices just became less inflated and interest rates became more normal. Don’t you see that inflation effecting the U.S. economy means prices are rising at the gas pump, rising in the grocery store, rising in the box retail stores, and rising prices in the real estate market too. Yes, real estate is not left out of the inflation equation. Although downward real estate price adjustments are happening everyday, does not mean that the real estate prices are devaluing properties.

If you own your own home, then you are hedging inflation as long as you have a fixed mortgage rate. The lucky ones have 2-4% mortgage rates which were abnormal. I don’t blame you for hanging on to those mortgages, especially during this inflationary time. However, it is the renters that are feeling the whole weight of the world. They are paying someone else’s mortgage and no, there is no housing bubble to burst. We learned from our mistakes back in 2007-2010. Unfortunately, not everyone can purchase a home, but you never know unless you try. Stop listening to gloom and doom, because you don’t have to.

Renters, I am telling you now that you could be a homeowner with $15,000 or less out of pocket for down payment at closing. FHA loans have been and are still available with 3.5% down payment. There are homeowners who want to sell out there, but they are not sure there is a buyer available because buyers seem to be looking too closely at the interest rates. The Sellers are also wondering, “If I sell then where am I going to live?” Less Buyers = Less Sellers and visa versa. Catch 22? If you are a “payment buyer”, meaning if you can afford rent, you can afford to pay less in mortgage payments also, even if you only qualify for over 7% interest. Just don’t be afraid to try. You just might end up being a homeowner, naturally hedging against this inflation.

I wish you the best and I am always committed to helping you get what you want!

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