Interest Rate Cuts
The upcoming fall season is just around the corner, and there’s a buzz of excitement in the air! The current weather is already giving us a little taste of what’s to come, with cooler mornings and evenings hinting at the crispness that autumn brings. Leaves are starting to show the faintest hints of color, and the light is taking on that warm, golden hue that makes everything feel cozier. It’s the perfect time to start thinking about pumpkin spice, cozy sweaters, and the comforting scent of wood smoke in the air. Fall’s magic is slowly revealing itself, inviting us to embrace the season of change and all the beauty it holds.
The recent lowering of interest rates has reignited excitement among buyers, making homeownership more attainable and fueling demand in an already competitive market. For the right property, the market remains strong, with buyers still eager to find their next home. Just this week, I helped a client secure an offer on a highly sought-after property where we were one of five competing offers. Despite the competition, including several all-cash offers, we prevailed thanks to strategic negotiations and understanding what sellers prioritize. This is a testament to the importance of experience in negotiations—it’s not just about the price, but how you craft the entire offer that truly matters.
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Fed Cuts Interest Rates For First Time In 4 Years: Here’s What It Means For You
Source: Forbes
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Are homes still selling?
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Are there still opportunities to buy or sell today?
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What opportunities could the historic Fed interest rate cut create for homeowners?
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Mortgage rates are expected to continue to decline, reducing monthly costs for refinancing
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Homebuyers will have access to larger loans and increased purchasing power.
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As rates drop, buyer demand will increase competitive offers
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Reach out to better understand your opportunities.
What Does the Recent National Association of Realtors Settlement Mean for Buyers and Sellers?
For details on the settlement, please review this flipbook:
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The U.S. central bank has kept benchmark rates at their highest level in 23 years: $1.049 trillion is allocated for debt service, an increase of 30% compared with a year ago. This is part of an anticipated total of $1.158 trillion in payments for the entire year. Higher rates cost EVERYONE more. (CNBC)
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There were about 5.1 million subsidized housing units in the US in 2023, of which around 13% were unoccupied and available to rent……or about 663,000 units. In 2022, 12% of all subsidized units in the US were vacant, compared with 5% of all rental properties. (USA FACTS)
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More than 13 million workers are exposed to extreme heat in the U.S, and now there are wearables that allow you to gauge if your health is at risk….if you spend lots of time outdoors in extreme heat, maybe something to consider? (WSJ)
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As of July 2022, roughly 46 million people, or 13.8% of the U.S. population, lived in rural areas.
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$16 billion will be spent on political advertising this year, about $47 per American……
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And….The 30-year fixed-rate mortgage averaged 6.20%, down from last week’s 6.35% and well below – down 20% – the two-decade high of 7.79% in October, 2023. Is a FOURTH QUARTER BOOM coming? (CNN)
*AI-generated images may not accurately represent the specific details or characteristics of any real-life entities or situations and are intended for illustrative purposes only.
