The roller-coaster ride that is the 2023 real estate scene, a bit like the sequel to the thrilling 2021 saga. We're still witnessing offers soaring above asking prices, but things are shifting. Sellers aren't quite enjoying the same flood of offers, and it all ties back to those changing interest rates.
Interest Rates:
Our crystal ball suggests rates might dip down to 6% by 2024, but crossing our fingers for anything lower than 5% might be pushing it. This year seems like a bit of a reset button, with 2025 possibly bringing more changes and more homes hitting the market.
Market Outlook:
Should rates settle around 6%, we're predicting a comeback of more buyers into the game. Sellers might feel confident in putting more homes out there. But hold onto your hats—cities like LA, NYC, and Miami? They’re holding strong, fueled by an army of cash-wielding buyers.
Cadiz Lluis's Strategy:
Guess what? We’re changing lanes too! With prices taking a dip, we're seizing opportunities left and right. Imagine snagging properties at a sweet 50% discount and then deciding whether to do a lightning-fast flip or play the long game.
Got questions bubbling up? Let’s explore this thrilling real estate world together, uncovering possibilities and untangling the market mysteries.
Here’s to a day filled with possibilities and endless adventures in the realm of real estate! 🏡✨