I hope everyone had a wonderful turn of the New Year. Welcome to 2023! Let's get into it. As expected, a lot of mispriced, poorly marketed listings expired on the 1st of January. We will see how long it takes for those to come back online, if they do at all. There are buyers out there in the market, serious buyers, so pricing is priority number one. Marketing and getting as many eyes as possible on the listing is number two. However, the best marketing doesn't matter if the pricing is way off base. With that said, these expired and cancelled listings only continue to deplete the supply. My eyes have not and will not move from the mortgage interest rates. It will be my key driver moving forward into Spring 2023. To start the year, 30yr conventional rates are hovering around 6.5%. If they were to stay here or go higher, my thesis for a strong market in Spring would go kaput. If they hover here in January, but instead start moving lower, especially under 6%, things could get really interesting. My business goal is to help 16 individuals/families this year buy or sell real estate. Do you, or someone you know have real estate goals for 2023? I'd love to talk about them over lunch, coffee, zoom, or even text. What are you seeing or hearing? I'd love to know paul@guiderealestate.com |
