October 2023 In-Review Was Scary

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. October 2023 was a month of more interest rate increases which seemed to be the leading challenge in the market of the Florida Panhandle. Interest rates climbed to 8% along with rising home values as well. Most people think that something major is going to relieve the anxiety that has built up in buyers hopes, while everything just keeps going up in cost and those same buyers are getting priced out the market……..

“Ongoing high housing costs and the scarcity of available homes continue to present budget challenges for many prospective buyers, and it’s likely keeping some buyers in the rental market or on the sidelines and delaying their purchase until conditions improve,” says Realtor.com Chief Economist Danielle Hale. “Those who are able to overcome affordability constraints may be increasingly drawn to newly constructed homes or to the suburbs and beyond, both of which may offer buyers more realistic opportunities for homeownership in the near term.” Written by RICHARD WESTLUND who is a Miami-based freelance writer, published in the most recent Florida Realtors Magazine.

There were a lot of outside variables fueling the market anxiety while the sidelines got even more crowded. The economy, inflation, job security and then there was more war and new wars and rumors of war. I believe, eventually the buyers priced out of home ownership may be in the position to purchase their dream home in the distant future. Although, there are some concerns that I have for the real estate market and it does not have anything to do with a bubble bursting to make a home more affordable. It has to do with small minded, negative people out there who will continue to try to hold you back. You have to fight to get your dream home and then fight to keep it. I can guarantee you this, no one has ever purchased real estate by just talking about it. You have to take action and there is no better time than now because every day is a good day to buy and sell real estate. Transactions happen everyday, regardless of what is going on in the world.

Okay, let me get off my soap box. Did I get your emotions going? I hope that I inspired you and motived you to move forward. If there is a will, there is a way. Check out the new construction homes because there are some low rates offered and up to $20,000 towards buyers closing costs for a limited time.

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