Happy New Year! December was another month of continued low inventory, the only real highlight was that interest rates had fallen to the low 6% which helped with increased sales. I believe that rates will fall to the mid 5's by the spring of 2024. As a reminder, Jan 1 2024 ALL buyers MUST sign the new state approved Buyer Broker Service Agreement.  Thinking of selling? Get your home prepared to sell. If you are looking to buy a home then get pre-approved for financing. I expect a busy 1st quarter for 2024 with good homes selling quickly

Yes, interest rates continue to go down, and Yes home are selling!

Starting Jan 2024 there will be new rules on buyer representation, written contracts,  that will include how the buyer broker will be compensated, either from the seller(s) or the buyer(s).

YES, homes are still selling, YES buyers are looking and YES interest rates have gone down for the last 2 weeks. - There are lots of great homes to buy!

Yes, the market is still very active with lots of buyer interest in "good" homes (homes in good condition and preiced according to current market valuations) even with higher interest rates. We also have new state laws taking place effective January 2024, have a discussion with your real estate Agent/Broker about the changes as this will affect BOTH Buyers and Sellers.  

Consisten theme, no inventory, higher interest rates and yet buyers are active and buying. A good time to sell! 

Ranting somewhat but what I discuss today is very valid on how real estate transactions can go sideways and fall apart. The best offense is to have a good defense, meaning get your home ready to sell and have full transparency to all parties and you will likely have a very satisfactory and successful transaction. 

Also some thoughts on building inspections and home improvement suggestions

As we continue to work with the challenges of VERY low inventory we are still seeing homes sell as well as home prices remaining clsoe to their values for a year ago. 

Great time to be a buyer!

Low, Low, Low inventory yet what is on the market is selling for 30 days or less, depending on certain market areas. 

Low, Low inventory and YES homes are selling with some selling for much higher than their asking prices.