It was a pleasure hosting an exclusive Faces of Freedom Art Exhibit event at our home to benefit the Freedom 58 Project for the Love Justice International organization – a collaborative movement working to raise awareness and help end modern-day slavery and violent oppression around the world. The Faces of Freedom Art Exhibit consists of over 230 oil paintings that highlight survivors’ stories and the anti-trafficking organizations that are supporting these survivors and creating movements to end slavery in our lifetime. We raised over $15,000 that evening, and every donation makes an impact! Donations continue to come in and are greatly appreciated, so if you feel inclined to donate, please contact [email protected].
I don’t know about you, but I’m soaking up every last minute of summer that I can! Recently two of my listings went under contract and then was able to spend my weekend at the Member-Guest Golf Tournament at my home away from home – Frost Creek. My fellow colleague, Connie Antoniou from Jameson Sotheby’s in Chicago joined me for the tournament! It’s not an empty phrase when I say that REAL relationships exist with colleagues from across the country. It is so important to me and my business to cultivate the right relationships when my clients find themselves moving to or from anywhere. Successful referrals happen because we’ve built trustworthy partnerships with each other and we know our clients are treated like our own.
There was a stat which came out today stating that 25% of Sotheby’s International Realty’s business stems from referrals within the network. Are you curious to find out where some of my real, vetted and trusted network professionals are? Take a peek at the latest edition of my magazine The Little Blue Book. These are just a handful of my many trusted colleagues from across the country. Referrals are an intricate part of our business and greatly appreciated, so contact me if you need to be connected anywhere in the country.
If you haven’t found the perfect gem with the summer inventory, I have the scoop on several new developments (one in Avon/Beaver Creek area [Prices are going up in September!], new release for ski-in/out development in Crested Butte and another high-end St. Regis Residence project on the water in Florida). If interested in any of these developments, contact me directly for more information right away. Remember, whether you are a buyer or seller, there is always a way to reach your goal, and I would welcome being the one to help you get there!
You’ve Asked: “Is Now The Right Time To Buy?”
I’ve been asked this question a LOT lately. And honestly, the right answer is – “whenever the time is right for YOU.” One size does not fit all and the answer should be different for each person depending on a multitude of factors.
My job is advise you in the best way possible depending on your goals and lifestyle needs. I colloquially call myself a “lifestyle matchmaker”, but it’s true! Although the overall climate of the market is adjusting, there are still properties competing with multiple offer scenarios. In fact, I would venture to say values are NOT going down. According to Land Title Guarantee Company, the average single family home price has increased 55% in July 2022 vs July 2021. For our area, values are holding, and inventory continues to be limited.
Things To Consider
- What are your current carrying costs?
- Is your income changing?
- What are your intentions for a purchase or sale (legacy home, primary, secondary, income, marriage, divorce, relocation, expanding family etc.)?
- What’s your timeline (urgent, 3-6 months, 6-12+ months)?
- What are your lifestyle goals?
Remember the Date Your Rate – Marry Your Home theory (watch video below). There are creative ways of getting you in a home with an advisor who is willing to think outside of the box and get creative. See more about why you shouldn’t worry about short-term interest rate hikes when thinking long-term in John Palmer’s video below.
From A Lender’s Perspective – John Palmer
Many potential buyers are concerned that the current rates mean it is not advantageous to purchase right now, but that is absolutely not the case. We invite you to watch the video below to really understand what the market is doing and where it is headed.
Enjoy the Benefits of a Cash Purchase with Delayed Mortgage Financing
For homebuyers looking to purchase a property with all cash, U.S. Bank may be able to assist with delayed financing, providing you the opportunity to recover a percentage of the cash used to purchase your home.
- Recoup cash used to purchase a home
- Appeal to sellers with a strong cash offer
- Use cash-out funds to pay for renovations, make investments,
- Pay off high-interest debt and more
Contact me for more information regarding this program or contact Betty Lauziere with US Bank at 617-645-2715 or [email protected].
Moody’s Housing Market Prediction For 2023: Eagle County Predicted to Stay Neutral
BY LANCE LAMBERT – FORTUNE (8/15/2022)
The Pandemic Housing Boom finally met its match this spring: spiked mortgage rates. As the Federal Reserve moved into inflation-fighting mode, financial markets quickly put upward pressure on mortgage rates. Those elevated mortgage rates—which topped out at 6.28% in June—coupled with sky-high home prices, threw cold water onto the housing boom. Home shoppers simply had enough.
To find out which housing markets are poised for home price declines, Fortune reached out to Moody’s Analytics to get access to its latest proprietary housing analysis. Economists at the financial intelligence firm calculated how house prices are likely to shift in 414 regional housing markets between the fourth quarter of 2022 and the fourth quarter of 2023.
Nationally, Moody’s Analytics predicts U.S. home prices will rise 0% next year. That’s a dramatic deceleration from the 19.7% home price uptick we saw over the past 12 months. It would also mark the lowest rate of home price growth since 2012.
But on a regional level, Moody’s Analytics thinks it’ll vary—a lot.
Among the nation’s 414 largest housing markets, Moody’s Analytics’ forecast model predicts that 183 markets will see a year-over-year home price increase in 2023. The biggest forecasted 2023 home price jumps are in Albany, Ga. (4.12%); New Bern, N.C. (4.12%); Augusta, Ga. (3.84%); Hartford, Conn. (3.73%); and Casper, Wyo. (3.29%).
Another 231 markets, Moody’s Analytics predicts, are likely to see home prices drop in 2023. The biggest forecasted 2023 home price drops are in The Villages, Fla. (-6.96%); Punta Gorda, Fla. (-6%); Reno (-5.57%); Honolulu (-5.56%); and Spokane, Wash. (5.52%).
In Real Estate News…
When looking at the residential market over the last 30 days, we’ve seen a slow down of sales, new contracts written as well as new listings coming to market. The average sold price overall is down compared to same time period of 2021 because the inventory of homes in the $3M+ segment are few and far between. The good news? Values are holding and we’re still seeing niche properties competing with multiple offer scenarios. While inventory remains limited, an advisor who is actively studying and can see the micro-eccentricities in the marketplace is crucial to have working for you.