Even with high interest rates, home prices have not crashed. 👀

In 2022 we saw the biggest home sales crash in history, meaning the decline in the number of homes sold. We also saw rates on fixed mortgages jumped from 3% to 7%. So they almost doubled. 🏡

Typically what will happen is when volume decreases, prices follow. 📊

But we didn't see that in 2023. In the Greater Philadelphia area, prices climbed back up, even with higher rates. ⬆️

When supply is low and demand is high, prices will continue to maintain high levels, which is exactly what we saw in 2023.

With rates now around 6.5% we've seen a lot more stability in the market, which has created certainty for consumers. 🤝

Whatever the Fed says this week is going to tell the tale for 2023. The good news here is prices aren't coming down and real estate is holding its value. 💰

Schedule a call ➡️ https://calendly.com/tomtoole

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🆕 Stay up to date on all the latest topics while Tom Toole, Sarah Tymon and Stacey Mitchell give our community a place to learn about the real estate market and industry trends on Toole Time Real Estate Radio... ⏰

👀 Tune in LIVE on WWDB-AM 860 and the Tom Toole Sales Group Facebook page EVERY TUESDAY @3:00PM! 🎙

👉 This weeks topic recap:

📊 • Rate decrease and FHFA loan limit increase

🗞 • Real Estate Industry News

🔮 • Realtor.com housing market predictions

Catch the full episode of #TooleTime here​ ➡️

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Trusting the process and staying coachable are keys to success. Look at Kevin Heatherby, a killer agent on our team. Kevin shares his journey, emphasizing the importance of patience and consistency. 👏

When Kevin joined our team in February, he faced initial challenges, but stuck with it. By July, he closed three sales in ten days, proving the value of trusting the process. 👀

Kevin highlights the significance of personalized follow-ups and using video messages to connect with clients. He stresses the importance of preparation so that you're always providing valuable information like estimated closing costs for example. 📲

His success is a result of consistent effort and adapting to client needs.🤝

Whether you're starting out or seeking growth, Kevin's story is a testament to the power of trust, consistency, and client-focused strategies. Watch the full video for more insights! 🔑🏡

Learn more about our team and how you can achieve the same results as Kevin ➡️ https://calendly.com/tomtoole

The FHFA just increased the 2024 conforming loan limit to $766,550, a 5.56% boost from last year. This is significant news! For sellers and buyers, it means greater affordability with lower down payments. Buyers can now get into homes priced over $800,000 with just 5% down and homes over $790,000 with 3% down. 👏

For sellers, this opens up more opportunities as buyers qualify with less cash to close, potentially leading to increased competition and better results. If you're considering moving up, the higher conforming loan limits mean you might eliminate a home sale contingency, making your offer more competitive. 🎉

This update is a game-changer for the real estate market, offering more options and flexibility for both buyers and sellers. Don't miss out—schedule a call with our team to explore how these changes affect your real estate plans! 🏡💼.

🆕 Stay up to date on all the latest topics while Tom Toole, Sarah Tymon and Stacey Mitchell give our community a place to learn about the real estate market and industry trends on Toole Time Real Estate Radio... ⏰

👀 Tune in LIVE on WWDB-AM 860 and the Tom Toole Sales Group Facebook page EVERY TUESDAY @3:00PM! 🎙

👉 This weeks topic recap:

🌸 • What will lower rates do to the spring housing market?

📰 • Real estate industry news….

🎄 • Holiday excuses

Catch the full episode of #TooleTime here​ ➡️

http://bit.ly/TooleTime

Ron Stender's unstoppable with five sales in just 60 days! 🚀

It's all about prioritizing clients and understanding their needs. In a market where everyone's complaining, Ron's thriving by listening, not selling. 🎧✨

When it comes to the cost of buying, Ron suggests breaking down payments, not interest rates, making it real for clients. 👏

His advice for consistency? Use the tools and resources available. Watch the full interview for insights on navigating the real estate game! 🏡💼

Interested in joining our team? Schedule a commitment free discovery call ➡️ https://calendly.com/tomtoole

Morgan Stanley predicts a significant boost in housing affordability by 2024, according to their recent 59-page report. They anticipate a slight decrease in mortgage rates, rising incomes, and a potential decline in home prices, making it one of the most significant improvements in the past 35 years.

Local markets may vary, and the report emphasizes the importance of understanding regional dynamics.

If you're a seller, consider timing due to potential increased competition with lower rates.

If you're a buyer, understand the financial implications and not solely rely on general predictions.

Remember, local expertise is crucial. Don't solely rely on headlines; consult with your local real estate experts for personalized insights.

Schedule a discovery call with our team ➡️ https://calendly.com/tomtoole

👀 Tune in LIVE on WWDB-AM 860 and the Tom Toole Sales Group Facebook page EVERY TUESDAY @3:00PM! 🎙

👉 This weeks topic recap:

📈 • Pending home sales rise

🔍 • New attorneys for the defense in Sitzer Burnett

🦃 • Turkeys of the year

Catch the full episode of #TooleTime here​ ➡️

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Break free from script anxiety with the game-changing Phil Jones 0-F-Q script and its variations for genuine client engagement. Unlock the secrets of effective real estate scripts to set more appointments!

Leverage market conditions, such as rate drops and increased housing inventory, to deliver value-based follow-ups.

Whether you're reaching out to buyers or sellers, these scripts offer a simple yet powerful approach. Remember, the key is to listen actively and respond based on their needs. Turn these scripts into text messages for a modern and efficient outreach strategy.

Elevate your real estate game and stay ahead of the curve with the latest techniques.

Don't underestimate December in the housing market! Contrary to common belief, this month is buzzing with opportunities for both buyers and sellers. 📈 Here's why...

🏠 Lower Rates: The biggest drop in rates in almost a year, making homeownership more affordable.

💰 Negotiation Power: Over 39% of sellers adjusted their prices in November, creating room for negotiation.

📈 Increased Supply: An 18.5% rise in available properties, offering more options for buyers.

For Buyers: Act now for lower payments, negotiation power, and increased inventory. 🚀

For Sellers: Seize the moment with historically low inventory, a recent rate drop, and strong buyer demand. ⏰

Watch the full video for in-depth insights and get ahead in the real estate game! 🎥🔑

Schedule a call to learn more about these opportunities ➡️ https://calendly.com/tomtoole

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