Housing Trends, Buying Opportunities, and Seller Tips

Parallels between housing markets of today and early '80s

Unlock intriguing insights into today's housing market! First American's Chief Economist, Mark Fleming, uncovers striking parallels with the '80s.

Is this the right time to buy a home?

Recently, the cost of borrowing money to buy a home went up because the Federal Reserve (the Fed) said they plan to keep interest rates higher for a longer time. This change in rates happened after the Fed's latest meeting, where they discussed their plans. Some officials from the Fed even suggested that they might not raise rates anymore.

Despite these changes, many are concerned about buying homes because it's expensive to borrow money, especially with the higher rates. This might mean that home sales won't be very strong in the next few weeks.

The data shows that home sales slow down regardless during the winter season. I think, for some, it may be a great time to buy and get a great deal on homes that need to be sold. If you are interested, let's discuss, and I will find them for you.

Thank you for your vendors!

With your help I put together a list of the local lenders and other home-related services.

Click here to a link to the vendor page

If you have any other vendors you would like me to add to the list simply reply to this email with their info.

Thank you for supporting local businesses!

Sellers: Paying for a Buyer's Agent?

The National Association of Realtors (NAR) is in trouble. They are in the middle of a big trial that could cost them $4 billion in agent fees paid by sellers, which partly goes toward the buyer agent's commission. But there's an even bigger problem: the U.S. Department of Justice (DOJ) is considering suing NAR. They're examining how NAR compensates real estate agents.

The CEO of Redfin, a real estate company, believes the DOJ's case is a much bigger deal than the ongoing trial.

Currently, there's a trial where it's suggested that NAR violated some rules regarding how agents are paid. Essentially, it's claimed that sellers are required to pay buyer agents at a fixed rate.

However, the facts are different. NAR doesn't have a requirement that dictates the amount sellers must pay either the seller's agent or the buyer's agent. Both of these fees are negotiable. It's also worth noting that you don't need an agent to sell or buy a home. While many studies indicate that sellers typically make about 14% more when using an agent, it's still entirely possible to go through the process without one.