Approaching 4th Quarter the Real Estate Market Continues to offer Challenges BUT it is not all Doom and Gloom
With rapidly rising interest rates and spooky predictions of sharp property price falls from some have sparked widespread uncertainty in the housing markets, and the negative headlines are not helping those jitters.
Here are just a couple of signs why we are still in a viable market.
Each weekend broadly speaking, good levels of buyers are out in force and snapping up quality homes, most cases are still going to highest and best. Takeaway for Sellers: Price your home just under market value and focus on the necessary repairs and maintenance AND if you are not ready to go on the market best to wait!
Some real estate pundits predicted property values would slump, this is not the case. Median prices are up across the various towns in Fairfield County. It is still a seller's market with limited inventory levels.
We continue to see a migration of buyers from the city. Buyers are still fleeing and are tired of paying high amount of exorbitant rents.
2022 will not be a repeat of 2008.
The largest part of the 2008 crash was due to the subprime mortgage crisis. Mortgage and lending practices have since been overhauled so history does not repeat itself.
Each buying and selling situation is unique and It is always best to have a professional by your side whether you are buying or selling. If you know anyone who we can assist please have them give us a call today, we would love to help.
