Scottsdale AZ Real Estate & Lifestyle

Live Better in Scottsdale - eXp Realty

Heather Tawes Nelson

Quick Video Update of the Scottsdale Real Estate Market – January 2021

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– January 2021 Scottsdale Housing Market Video –

After a record-breaking December sales month, January also turned in a strong performance, even though inventory is the lowest it has been.

Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of January.

January 2021 – Video

Scottsdale Active Listings

Scottsdale homes for Sale January 2021

Inventory is almost non-existent right now in Scottsdale. In fact, the number of homes for sale was 149% lower this January than in January 2020.

And it was even down further than the previous month. There were 29% fewer homes for sale in January than there were in December 2020.

Median List Price for Scottsdale Homes

Scottsdale homes median list price January 2021

The median list price gives you an idea of the home prices in a given market. It is the midpoint of all of the prices of homes for sale. This means that exactly one-half of the homes will be priced higher and the other half will be priced lower. 

January’s median list price was $1.6 million. This is up over December’s $1.4M and almost $500K higher than the median list price in January of 2020.

Days on Market

Scottsdale homes Days on Market January 2021

DOM or Days on Market is a back-of-the-envelope calculation that gives you a sense of the market. If the DOM is low, homes are selling at a faster pace. Conversely, if it is high, sales are slower. 

January’s Days on Market was 77 and it came in 5% lower than last January. This is very low for Scottsdale, but the low inventory and high demand are helping this figure decrease.  

Median Sales Price for Scottsdale Homes

Scottsdale homes median sales price January 2021

Now we will take a look at January’s median sales price. Exactly one-half of the homes sold for more and one-half for less. 

January’s median sales price was $758K. This is up from January 2020’s $655K, but down from December’s $797K.

Number of Homes Sold

This last section covers homes that sold in January.

Scottsdale homes sold January 2020 versus 2021

This first image shows year-over-year performance. Sales in January 2021 were up 56%, which is impressive as there are so few homes for sale.

Scottsdale home sales January 2021 vs December 2020

This next image looks at month-over-month performance. Sales were down 22% when compared with December. This is not surprising as January is typically slower for sales and the tight inventory.  

We hope that you found this video and commentary helpful as you gather more information to make smart informed real estate decisions.

For more Scottsdale real estate information or if you have any questions about the local area, feel free to contact Joyce at (480) 209-7843 or Joyce@LiveBetterinScottsdale.com.

Click to watch other videos on our Live Better in Scottsdale YouTube Channel.

Interested in other stats for our market? Visit our Real Estate Market Update page.

 

Disclaimer: Data deemed to be accurate, but is not guaranteed.

3 Reasons We’re Definitely Not in a Housing Bubble

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3 Reasons We’re Definitely Not in a Housing Bubble | MyKCM

Home values appreciated by about ten percent in 2020, and they’re forecast to appreciate by about five percent this year. This has some voicing concern that we may be in another housing bubble like the one we experienced a little over a decade ago.

But here are three reasons why this market is totally different.

1. This time, housing supply is extremely limited

The price of any market item is determined by supply and demand. If supply is high and demand is low, prices normally decrease. If supply is low and demand is high, prices naturally increase.

In real estate, supply and demand are measured in “months’ supply of inventory,” which is based on the number of current homes for sale compared to the number of buyers in the market. The normal months’ supply of inventory for the market is about 6 months. Anything above that defines a buyers’ market, indicating prices will soften. Anything below that defines a sellers’ market in which prices normally appreciate.

Between 2006 and 2008, the months’ supply of inventory increased from just over 5 months to 11 months. The months’ supply was over 7 months in twenty-seven of those thirty-six months, yet home values continued to rise.

Months’ inventory has been under 5 months for the last 3 years, under 4 for thirteen of the last fourteen months, under 3 for the last six months, and currently stands at 1.9 months – a historic low.

Scottsdale and the Greater Phoenix Valley are experiencing record-low inventories. We have never seen numbers like this.

Remember, if supply is low and demand is high, prices naturally increase.

2. This time, housing demand is real

During the housing boom in the mid-2000s, there was what Robert Schiller, a fellow at the Yale School of Management’s International Center for Finance, called “irrational exuberance.” The definition of the term is, “unfounded market optimism that lacks a real foundation of fundamental valuation, but instead rests on psychological factors.” Without considering historic market trends, people got caught up in the frenzy and bought houses based on an unrealistic belief that housing values would continue to escalate.

The mortgage industry fed into this craziness by making mortgage money available to just about anyone, as shown in the Mortgage Credit Availability Index (MCAI) published by the Mortgage Bankers Association. The higher the index, the easier it is to get a mortgage; the lower the index, the more difficult it is to obtain one. Prior to the housing boom, the index stood just below 400. In 2006, the index hit an all-time high of over 868. Again, just about anyone could get a mortgage. Today, the index stands at 122.5, which is well below even the pre-boom level.

In the current real estate market, demand is real, not fabricated. Millennials, the largest generation in the country, have come of age to marry and have children, which are two major drivers for homeownership. The health crisis is also challenging every household to redefine the meaning of “home” and to re-evaluate whether their current home meets that new definition. This desire to own, coupled with historically low mortgage rates, makes purchasing a home today a strong, sound financial decision. Therefore, today’s demand is very real.

Remember, if supply is low and demand is high, prices naturally increase.

3. This time, households have plenty of equity

Again, during the housing boom, it wasn’t just purchasers who got caught up in the frenzy. Existing homeowners started using their homes like ATM machines. There was a wave of cash-out refinances, which enabled homeowners to leverage the equity in their homes. From 2005 through 2007, Americans pulled out $824 billion dollars in equity. That left many homeowners with little or no equity in their homes at a critical time. As prices began to drop, some homeowners found themselves in a negative equity situation where the mortgage was higher than the value of their home. Many defaulted on their payments, which led to an avalanche of foreclosures.

Today, the banks and the American people have shown they learned a valuable lesson from the housing crisis a little over a decade ago. Cash-out refinance volume over the last three years was less than a third of what it was compared to the 3 years leading up to the crash.

This conservative approach has created levels of equity never seen before. According to Census Bureau data, over 38% of owner-occupied housing units are owned ‘free and clear’ (without any mortgage). Also, ATTOM Data Solutions just released their fourth quarter 2020 U.S. Home Equity Report, which revealed:

“17.8 million residential properties in the United States were considered equity-rich, meaning that the combined estimated amount of loans secured by those properties was 50 percent or less of their estimated market value…The count of equity-rich properties in the fourth quarter of 2020 represented 30.2 percent, or about one in three, of the 59 million mortgaged homes in the United States.”

If we combine the 38% of homes that are owned free and clear with the 18.7% of all homes that have at least 50% equity (30.2% of the remaining 62% with a mortgage), we realize that 56.7% of all homes in this country have a minimum of 50% equity. That’s significantly better than the equity situation in 2008.

Bottom Line

This time, the housing supply is at a historic low. Demand is real and rightly motivated. Even if there were to be a drop in prices, homeowners have enough equity to be able to weather a dip in home values. This is nothing like 2008. In fact, it’s the exact opposite.

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Scottsdale AZ Single Family Home Sales – January 2021

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– January 2021 Scottsdale Homes for Sale and Home Sales –

So while sales were down in January, compared to a record-breaking December, there were still incredible strong pending and UCB numbers.

I also believe that if there was more inventory, January home sales would have been higher as there is so much demand.

SCOTTSDALE HOME SALES ACTIVITY – JANUARY 2021

We track four sales metrics every month:

– Single-family homes for sale – Orange Line – How many homes were on the market in Active status at the end of the month.
– Under contract, but accepting backup offers (UCB) – Gray Line – How many homes were showing UCB at the end of the month.*
– Pending home sales – Yellow Line – How many sales were pending at the end of the month.*
– Home Sales – Blue Line – How many homes sold each month.

JANUARY 2021 RESULTS

  • Scottsdale Homes for Sale: The Scottsdale market is in desperate need of inventory. In January, there were fewer homes for sale at the end of the month than there were sales! Contrast this to February 2020 when there were almost 1,200 homes for sale.
  • UCB (Under contract, accepting backup offers):  After cooling down in December for the holidays, UCBs were up over 20% in January.
  • Pending Homes Sales in Scottsdale: Pending sales were also up in January for the same reasons.
  • Scottsdale Home Sales: It would be hard to beat December 2020’s sales, but January still had a strong showing. As I alluded to at the beginning of the post, I think all of the pending and sold figures would be a lot higher if we had more homes on the market.

This next section has two more sales metrics that we track monthly.

Percent Change Month Over Month – We compare each of the four sales categories to their performance from the previous month. For instance, pending sales were up 19.4% at the end of January compared to the end of December.

Sales Price to List Price – This is a way to track pricing in the market. This metric looks at sales prices compared to the prices these homes were listed for. It has been pretty stable over the past year. In January, on average, homes sold for 97.4% of list price or at a 2.6% average discount for buyers.

*Figures for active homes for sale, UCB sales and pending sales are based on the numbers at the end of the month.

Search Scottsdale AZ Homes for Sale

Here is a sampling of some of the homes on the market, or click the link above to see all of the homes for sale.

Curious about your buying power? Click on the link to learn more.

Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 2/1/2021. Information deemed reliable, but not guaranteed. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2021 Heather Tawes Nelson | Joyce Tawes

Things To Do In Scottsdale – February 2021

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We have made it to 2021, and while things are not back to normal yet, there is light at the end of the tunnel.

Arabian Horse Show 2021 Scottsdale

Here are some ideas for things to do in and around Scottsdale for the month of February. 

  • Junk In The Trunk Pop-Up at Scottsdale Quarter – This popular market pop-up is back at Scottsdale Quarter for a limited run. Even though the full-fledged market will not be back until April, you can get your fix for now. 
  • Arizona Fine Art Expo – January 15th – March 28th – This beloved Fine Art Expo is back again at Scottsdale Road and Jomax. Come explore 124 art studios in an open-air tent. 
  • Celebration of Fine Art – January 16th – March 28th – This other beloved art show is also back. Watch 100 artists as they create unique and interesting art. 
  • Mini Golf at Desert Ridge – January 22 – March 21st (Weekends) –  Have some fun on the 9-hole, neon-lit course. Also, check out the calendar for live music and other events. 
  • Scottsdale Arabian Horse Show – February 11th – 21st – This amazing horse show is back at WestWorld. This year it will be a live stream, but you can certainly tune in to watch these majestic horses and their riders. 
  • Corks & Cactus at the Desert Botanical Garden – February 28th – This fun wine pairing series will help you with wine pairings for takeout Mexican food. Other types of food are tackled in other sessions. 
  • Phoenix Art Museum – The Phoenix Art Museum has several very interesting exhibitions going on right now, including printmaking and fashion + art.
  • Pinspiration – Looking to unleash your inner artist? Pinspriation has in-person and takeaway art projects for you. 

As always, if you have other events going on that you would like to highlight, please feel free to add them to the comment section. 

 

Disclaimer: Please check with the event venue to make sure the event is happening as scheduled. Some of these events require a paid ticket.

What Record-Low Housing Inventory Means for You

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What Record-Low Housing Inventory Means for You | MyKCM

The real estate market is expected to do very well in 2021, with mortgage rates that are hovering at historic lows and forecasted by experts to remain favorable throughout the year. One challenge to the housing industry, however, is the lack of homes available for sale today.

If you have been following the Scottsdale and Greater Phoenix market, you know that we have a record low number of homes for sale and demand is very high. 

Last week, the National Association of Realtors (NAR) released their Existing Home Sales Report, which shows that the inventory of homes for sale is also currently at an all-time low. The report explains:

“Total housing inventory at the end of December totaled 1.07 million units, down 16.4% from November and down 23% from one year ago (1.39 million). Unsold inventory sits at an all-time low 1.9-month supply at the current sales pace, down from 2.3 months in November and down from the 3.0-month figure recorded in December 2019. NAR first began tracking the single-family home supply in 1982.”
(See graph below):

What Record-Low Housing Inventory Means for You | MyKCM

What Does This Mean for You?

If You’re a Buyer:

Be patient during your home search. It may take time to find a home you love. Once you do, however, be ready to move forward quickly. Get pre-approved for a mortgage, be prepared to make a competitive offer from the start, and know that a shortage in inventory could mean you’ll enter a bidding war. Calculate just how far you’re willing to go to secure a home and lean on your real estate professional as an expert guide along the way. The good news is, more inventory is likely headed to the market soon, Lawrence Yun, Chief Economist at NAR, notes:

“To their credit, homebuilders and construction companies have increased efforts to build, with housing starts hitting an annual rate of near 1.7 million in December, with more focus on single-family homes…However, it will take vigorous new home construction in 2021 and in 2022 to adequately furnish the market to properly meet the demand.”

If You’re a Seller:

Realize that, in some ways, you’re in the driver’s seat. When there’s a shortage of an item at the same time there’s a strong demand for it, the seller is in a good position to negotiate the best possible terms. Whether it’s the price, moving date, possible repairs, or anything else, you’ll be able to request more from a potential purchaser at a time like this – especially if you have multiple interested buyers. Don’t be unreasonable, but understand you probably have the upper hand.

Bottom Line

The housing market will remain strong throughout 2021. Know what that means for you, whether you’re buying, selling, or doing both.

Scottsdale AZ Luxury Home Market – December 2020

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– Scottsdale Luxury Home Market Performance for December 2020 –

I  have been tracking this data monthly since 2007 and can safely say I have never seen numbers like this in the luxury segment before. Sales activity shattered any previous records as the last month of 2020 came to a close.

This report covers the luxury home market in Scottsdale. Each of the homes had list prices in excess of $1 million.

Each month, we look at the following four items:
Active –   How many homes were for sale at the end of the month.
UCB (Under Contract Accepting Backup Offers) – How many homes were under contract, but still accepting backup offers at the end of the month.
Pending – How many pending sales there were.
Sold – The number of homes sold that month.

– December 2020 –

Scottsdale Homes Priced Between $1,000,000 – $1,499,999

Scottsdale homes for sale between $1 and $1.5 million December 2020

– Active Scottsdale Homes on the Market: Inventory was almost non-existent at the end of December. The 12 month average is almost double this figure!
– UCB Scottsdale Home Sales: The number of UCB contracts fell in December as would be expected during the holiday season.
– Pending Scottsdale Home Sales: Pending homes saw a sharp decline (97.4%). This could be due to the holidays partnered with very little inventory.
– Scottsdale Homes Sold:  One hundred twenty-five homes sold in December! This is by far the highest I have ever seen this figure. The 12 month average is 70, so this is almost double that amount!
– Sales Price to Listed Price: 96.6% – On average, buyers saw a discount off of list price of 3.4%.

Scottsdale Homes Priced Between $1,500,000 – $1,999,999

Scottsdale homes for sale between $1.5 and $2 million December 2020

– Active Scottsdale Homes on the Market: Inventory was down slightly between November and December, but it is still very low.
– UCB Scottsdale Home Sales: The number of UCBs was down about 45% compared with the month prior.
– Pending Scottsdale Home Sales: Pending sales were level, closing out the month at thirty. This ties for the second-highest performance of the year.
–  Scottsdale Homes Sold: Home sales also had their best month in December with forty-five.
– Sales Price to Listed Price: 96.9% – On average, buyers saw a discount off of list price of 3.1%.

Scottsdale Homes Priced Between $2,000,000 – $2,999,999

Scottsdale homes for sale between $2 and $3 million December 2020

– Active Scottsdale Homes on the Market: Inventory was the lowest we have seen in the past year, as we are seeing all over Scottsdale and in all price points.
– UCB Scottsdale Home Sales: The number of UCBs dropped sharply.
– Pending Scottsdale Home Sales: Pending sales were up again and turned in the best performance of 2020.
– Scottsdale Homes Sold: Sales were way above average with forty-one sales in December. This is unheard of in this price point.
– Sales Price to Listed Price: 95.0% – On average, buyers saw a discount off of list price of 5%.

Scottsdale Homes Priced $3,000,000+

Scottsdale homes for sale over $3 million December 2020

– Active Scottsdale Homes on the Market: The number of homes for sale fell in December after being level for several months.
– UCB Scottsdale Home Sales:  The number of UCBs fell by one, but this is still ahead of the 12 month average.
– Pending Scottsdale Home Sales: Pending sales hit the highest level we have seen in the over $3 million market, closing out the month at thirty!
– Scottsdale Homes Sold: There were twenty-three home sales in December, the second-highest performance in this segment of the market.
– Sales Price to Listed Price: 96.2% – On average, buyers saw a discount off of list price of 3.8%.

If you would like additional detail on home sales activity, please visit our Scottsdale Luxury Home Market Reports page and click on the downloadable “Scottsdale Market Trends” report.

Search Scottsdale Luxury Homes for Sale

Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2021 and can change at any time. The analysis looks at single-family luxury resale homes in Scottsdale AZ over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This blog represents the opinion of the author. No warranties expressed or implied.
Copyright ©2021 Heather Tawes Nelson | Joyce Tawes

Phoenix and Scottsdale AZ Luxury Condo Sales – December 2020

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– Luxury Condo Sales in Scottsdale and Phoenix – December 2020 –

The luxury condo market in Scottsdale and Phoenix ended the year with very strong sales activity as well as strong pending sales.

In this report, we look at the sales activity of luxury condos in Scottsdale and Phoenix. All of these condos were listed $1 million or more.

ACTIVE LISTINGS AT THE END OF DECEMBER

There were sixty-six luxury condos for sale at the end of December. Scottsdale had the majority of the listings with forty-seven

The highest-priced condo for sale has been in this spot for many months. It is found within the Two Biltmore Estates community and has two bedrooms three bathrooms and 4,817 square feet. It was on the market for $3,300,000.

The lowest-priced luxury condo was located in the Sage Condominium community. This two bedroom, two and one-half bathroom home overlooks the canal and has mountain views. It was listed for $1,000,000.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

All four of the condos in UCB status at the end of December were located in Scottsdale.

UCB Homes in Scottsdale

  • Optima Kierland – Three bedrooms, three bathrooms, 1,686 square feet. Asking price was $1,299,000.
  • Optima Kierland – Four bedrooms, three and one-half bathrooms, 4,116 square feet. Asking price was $2,995,000.
  • Plaza Lofts at Kierland Commons – Two bedrooms, two and one-half bathrooms, 2,162 square feet. Asking price was $1,395,000.
  • Seven at Desert Mountain – Three bedrooms, three and one-half bathrooms, 2,702 square feet. Asking price was $1,717,719.

*UCB status means a condo has an accepted contract, but that the seller has requested that they accept backup offers. Most times you will see this status when the contract is in the inspection/due diligence period.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

There were ten pending sales at the end of the month. Nine of the ten were in Scottsdale.

Scottsdale Pending Luxury Condos

  • Scottsdale Waterfront Residences – Three bedrooms, two and one-half bathrooms, 2,265 square feet. Asking price of $1,395,000.
  • Optima Camelview – Three bedrooms, three and one-half bathrooms, 3,223 square feet. Asking price was $1,799,000.
  • Plaza Lofts at Kierland Commons – Two bedrooms and bathrooms, 1,6642 square feet. Asking price was $1,495,000.
  • Seven at Desert Mountain –
    • Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,791,659.
    • Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,981,537.
  • Optima Kierland –
    • Two bedrooms, two and one-half bathrooms, 1,956 square feet. Asking price was $1,750,000.
    • Three bedrooms, three bathrooms, 2,018 square feet. Asking price was $1,939,000.
    • Three bedrooms, three bathrooms, 2,704 square feet. Asking price was $2,080,000.
    • Two bedrooms, two and one-half bathrooms, 1,846 square feet. Asking price was $1,525,000.

Phoenix Pending Luxury Condo

The Residences at 2211 Camelback – Two bedrooms, three bathrooms, 3,000 square feet. Asking price was $1,425,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

There were eleven luxury condo sales in Scottsdale and Phoenix in December, which is a very strong number and came from the high UCB and pending inventory we had in November.

Scottsdale Luxury Condo Sales

  • Optima Kierland
    • Three bedrooms, two bathrooms, 1,758 square feet. Asking price was $1,025,000 and it closed for $1,032,500.
    • Three bedrooms, two bathrooms, 1,758 square feet. Asking price was $1,059,000 and it closed for $1,075,000.
    • Two bedrooms, two and one-half bathrooms, 1,754 square feet. Asking price was $1,125,000 and it closed at list price.
    • Three bedrooms, three bathrooms, 2,704 square feet. Asking price was $1,816,000 and it closed for $1,921,939.
    • Three bedrooms, three bathrooms, 2,232 square feet. Asking price was $2,195,000 and it closed for $2,141,000.
  • ICON at Silverleaf – Two bedrooms, two and one-half bathrooms, 2,722 square feet. It was listed for $1,450,700 and closed at list price.
  • Safari Drive – Three bedrooms, three bathrooms, 2,732 square feet. Asking price was $1,375,000 and it closed for $1,300,000.
  • Optima Camelview – Three bedrooms, two and one-half bathrooms, 2,406 square feet. Asking price was $1,295,000 and it closed for $1,185,000.
  • Optima Camelview – Two bedroom, two and one-half bathroom home with 1,944 square feet. It was priced at $1,195,000 and sold for $1,150,000.

Phoenix Luxury Condo Sales

  • The Residences at 2211 Camelback – Three bedrooms and bathrooms, 3,000 square feet. Asking price was $1,250,000 and it sold for $1,175,000.
  • Two Biltmore Estates – Three bedrooms, three and one-half bathrooms, 3,000 square feet. Asking price was $1,975,000 and it sold for $1,950,000.

Learn More About Phoenix and Scottsdale Luxury Condos

Search Phoenix and Scottsdale Luxury Condos for Sale

Disclaimer: Days on market figures are cumulative days on market. Information herein deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2021 and can change at any time. The analysis looks at resale luxury condos in Scottsdale and Phoenix over the past 12 months. Information deemed reliable, but not guaranteed.  There may be new condo inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright ©2021 Heather Tawes Nelson | Joyce Tawes

Should I Wait for Lower Mortgage Interest Rates?

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Should I Wait for Lower Mortgage Interest Rates? | MyKCM

Historically low mortgage rates are a big motivator for homebuyers right now. In 2020 alone, rates hit new record-lows 16 times, and the trend continued into the early part of this year. Many hopeful homebuyers are now wondering if they should put their plans on hold and wait for the lowest rates imaginable.

However, the reality is, acting sooner rather than later may be the actual win if you’re ready to buy a home.

According to Greg McBride, Chief Financial Analyst for Bankrate:

“As vaccines become more widely available and a return to normal starts to come into view, we’ll see mortgage rates bounce off the record lows.”

While only a slight increase in mortgage rates is projected for 2021, some experts believe they will start to rise. Over the past week, for example, the average mortgage rate ticked up slightly, reaching 2.79%. This is still incredibly low compared to the trends we’ve seen over time. According to Freddie Mac:

“Borrowers are smart to take advantage of these low rates now and will certainly benefit as a result.”

Here’s why.

As mortgage rates rise, the increase impacts the overall cost of purchasing a home. The higher the rate, the higher your monthly mortgage payment, especially as home prices rise too. Sam Khater, Chief Economist at Freddie Mac, says:

“The forces behind the drop in rates have been shifting over the last few months and rates are poised to rise modestly this year. The combination of rising mortgage rates and increasing home prices will accelerate the decline in affordability and further squeeze potential homebuyers during the spring home sales season.”

What does this mean for buyers?

Right now, the inventory of houses for sale is also at a historic low, making it more challenging than normal to find a home to buy in many areas. In Scottsdale and the Greater Phoenix area, we have been seeing incredibly low inventory for a while.

As more buyers hit the market in the typically busy spring buying season, it may become even harder to find a home in the coming months. With this in mind, Len Keifer, Deputy Chief Economist for Freddie Mac, recommends taking advantage of both low mortgage rates and the opportunity to buy:

“If you’ve found a home that fits your needs at a price you can afford, it might be better to act now rather than wait for future rate declines that may never come and a future that likely holds very tight inventory.”

Bottom Line

While today’s low mortgage rates provide great opportunities for homebuyers, we may not see them stick around forever. If you’re ready to buy a home, let’s connect so you can take advantage of what today’s market has to offer.

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