03/04/2022
March South Florida Real Estate Market Report 2022 from Susan Penn
Body: Hi Steve, Mortgage Rates DropThe mortgage rates were climbing up to 4.08%. The mortgage rates have dropped back to 4.0% and today the 30-year, fixed-rate mortgage rates have fallen to 3.76% as the devastating war takes place with Russia invading Ukraine. Mortgage rates are based on bonds. When bonds are more expensive, mortgage rates are lower, which is currently taking place. Stocks and cryptocurrencies have also lost some of their value. The Federal reserve will be meeting March 15-16 to discuss the rates. Be on the lookout as mortgage rates are expected to climb higher. Despite lack of supply, existing home sales rise 6.7%Homebuyers flocked to what little inventory existed in January, with existing-home sales rising 6.7% from the prior month to a seasonally adjusted annual rate of 6.5 million. January sales fell 2.3% from a year earlier, though the median existing-home price rose 15.4% annually to $350,000, according to the Friday report from the National Association of Realtors. (Housingwire.com)Prepare Now for a Busy Housing Market This Spring the 2022 real estate market is shaping up to be something closer to normal. As we approach the busy spring homebuying season, homebuyers are still likely to face an uphill battle, but it shouldn’t feel anything like 2021.Home values skyrocketed by nearly 20% at many points in 2021. While housing prices aren’t expected to drop in 2022, the increasing rate of prices should slow down. Many experts believe home values will increase at roughly half the rate (single-digit increases) we saw during the peak of 2021. (Time.com)
Buying a Real Estate Property
1) Make sure you are pre-approved or have sent me your proof of funds as this will notify me as to how much you can spend and is necessary to make an offer. I am happy to send you an experienced mortgage consultant.
2) If You See a Home you like, please let me know. Why? It will not last very long.
3) Be prepared to make an offer higher than the asking price. There is not enough inventory for the amount of buyers. Homes are showing up saying attend the open house but, do not be fooled.
If you love the house, we will write an offer contingent upon viewing.
4) Do you have the real estate app? If not send me a text or email.
5) Do you have questions? Send me your questions.
6) Do you need a Home Valuation?
March Events
Las Olas Art Fair March 5-March 6 10:00 AM to 5:00 PM along Las Olas Blvd
Seal Performing March 20 at Seminole Casino Coconut Creek
www.susanjpennrealtor.com
Specializing in Weston Florida Homes For Sale - Weston FL Houses for Sale, Call Susan Today at 954-557-5993 for a private tour of Weston Florida Real Estate For Sale, Visit Savanna Homes For Sale, The Ridges Homes For Sale, Windmill Ranches Homes For Sale, The Islands Homes For Sale, Weston Hills Ho...