Will this one thing be making a comeback in the real estate market?
The high mortgage rates that have paralyzed real estate are heading downward and could drop even further by the end of the year. This could indicate changes in the marketplace. And guess what? As interest rates drop, we may begin to see… multiple offers… back in the market.
Hi, I’m Terry Tucker with eXp Realty and I help people sell and buy homes right here in the San Ramon Valley and the entire San Francisco Bay Area for the past 26 years!
We are *finally* getting some relief and starting to see inflation lose some steam and the economy cooling. This, along with predictions that the Federal Reserve will make not one, but TWO rate cuts by the end of 2024, may create a lot of buyer buzz.
According to Realtor.com chief economist, Danielle Hale, rates should drop further this Fall and Winter. Most likely, more buyers will enter back into the market after feeling iced out lately. We saw the market cool off in the summer and did not see high buyer demand and multiple offer scenarios.
But with these latest anticipated rate drops, all that can change. We should also see more sellers listing their homes to take advantage of the new buyer pool. The competition could mean multiple offers on more properties with the high demand.
Of course keep in mind the fourth quarter typically sees the end of the prime real estate season as we begin to see colder and shorter days, so it will be interesting to see how this latest anticipated rate drop plays out.
If you would like more information on San Francisco East Bay Area real estate, Call me today and let’s talk about it. I’m a seasoned East Bay expert with a 5-Star rating. I’ll help you navigate the market and make it happen, whether that’s selling or buying or both!
And if you or someone you know needs to sell a home, ask me about my home-selling plans.. I took the pain out of negotiating with a Realtor and made it SUPER simple. Really! Choose Silver, Gold, or Platinum- Pick your Plan and Pick your Price. Terms apply. I’m Terry Tucker and I’m a home selling expert. Let’s get you going, Call me today!
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