As we venture into 2024, the real estate market remains a topic of intense interest and speculation. Last year, the “mortgage rate lock-in effect” was a defining factor, significantly impacting everything from inventory levels to home sales. This phenomenon occurred due to homeowners clinging to their sub-5% mortgage interest rates, deterring them from selling and […]
The Federal Reserve recently decided to keep interest rates the same, but there’s good news ahead. They’re thinking about lowering these rates next year. Right now, the interest rate is between 5.25% and 5.5%, the highest in 22 years. This was done to help slow inflation, which means the prices of things increased too fast. […]
Mortgage Rates The landscape of mortgage rates in 2023 has been a rollercoaster ride, with rates defying earlier predictions of a decline. As we enter the year’s final quarter, homeowners, buyers, and industry experts are grappling with the implications of these persistent highs. Current State of Mortgage Rates As of early November 2023, mortgage rates […]
A Surprising Influence in the Real Estate World In the diverse landscape of real estate, there’s a common belief that cash buyers are immune to the ebb and flow of mortgage rates. However, a closer look into the economic intricacies tells a different story. Let’s unravel the surprising ways mortgage rates are still critical for […]
October 2023 marks a turning point in the real estate landscape with a record-setting wave of price reductions, offering a glimmer of hope to homebuyers navigating the challenging market conditions. Nearly 7% of homes on the market slashed their prices in the four weeks ending on October 29, reflecting the most significant percentage drop in […]
Welcome to The Griffin Real Estate Market Update, I’m Danny Griffin. If you’re thinking about buying or selling residential real estate, it’s important to understand the current market trends. According to Cape Cod & Islands Association of Realtors, the marketplace for Cape Cod residential properties, here’s what happened in September 2023 versus October 2023: The […]
Welcome to The Griffin Real Estate Market Update, I’m Danny Griffin. If you’re thinking about buying or selling residential real estate, it’s important to understand the current market trends. According to Cape Cod & Islands Association of Realtors, the marketplace for Cape Cod residential properties, here’s what happened in Q3 2023 versus Q3 2022: The […]
Mortgage rates are influenced by a myriad of economic and geopolitical factors, some of which may initially seem unrelated to the housing market. The recent Israel-Gaza conflict provides a prime example of how global events can have ripple effects on domestic mortgage rates. Here’s a deep dive into how the outbreak of this conflict inadvertently […]
The real estate landscape has significantly changed in recent years, with technology playing an ever-increasing role in property transactions. Digital platforms have become increasingly popular, with consumers demanding more transparency and efficiency. Amid these shifts, the National Association of Realtors (NAR), the largest association in the U.S., now faces immense pressure to adapt or risk […]
The home inspection process is a critical step in buying a property. Yet, it has been widely misconstrued as a deal killer, leading to anxiety for real estate agents and prospective buyers. Home inspections are not the culprits in killing deals; they expose underlying issues that may impact the buyer’s decision. Here are the three […]
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