2,785,606
The gov is trying hard to slow down the ability to purchase Real Estate. The connecting markets will suffer for a while. One thing that cannot be stopped is the dream of OWNING. In addition to that, low inventory keeps demand up for those that want and can purchase. For those that can afford the high monthly payment because of increased rates, refi is in the near future when the cycle or phase turns the corner. For those that rent, the ongoing high rent will always pressure them to buy. For those living with family, they will save until they can launch their own nesting & they will. Trying to slow down or stop Real Estate is folly and poor judgement. The whole country and even world history is based on owning a shelter something that will never stop. It goes on & on until everyone gets a piece of their own Real Estate and a PEACE of having home sweet home
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Wanda Kubat-Nerdin - W...
St. George, UT
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Carla Freund
Raleigh, NC
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Doug Dawes
Topsfield, MA
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Lyn Sims
Schaumburg, IL
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Richie Alan Naggar
Riverside, CA
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Kris Collis, Associate...
East Stroudsburg, PA
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Kathleen Daniels, Prob...
San Jose, CA
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John Juarez
Fremont, CA
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Lynnea Miller
Bend, OR
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Peter Mohylsky, Destin...
Miramar Beach, FL
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Shayne Stone
Fulshear, TX
381,757
I see rates going up for the next six months. I see inflation remaining high for the next six months. I see the stupid government continuing to print money and raise taxes (regardless of party) for the next six months. We're in a deep hole. It's going to be a while before it turns around.
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Wanda Kubat-Nerdin - W...
St. George, UT
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Carla Freund
Raleigh, NC
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Doug Dawes
Topsfield, MA
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Kris Collis, Associate...
East Stroudsburg, PA
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Gary Frimann, CRS, GRI...
Gilroy, CA
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Candice A. Donofrio
Fort Mohave, AZ
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Kathleen Daniels, Prob...
San Jose, CA
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John Juarez
Fremont, CA
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John Pusa
Glendale, CA
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Shayne Stone
Fulshear, TX
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Bob "RealMan" Timm
Minot, ND
1,078,451
Rates come down some, property prices dip very slightly, more buyers enter the market. Short term with rates where they are this won't happen, but next year we'll see a recessionary environment, a break in inflation, and reduced rates making homes affordable again. That's my crystal ball at least.
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Wanda Kubat-Nerdin - W...
St. George, UT
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Doug Dawes
Topsfield, MA
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Steve Higgins
Kelowna, BC
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Kris Collis, Associate...
East Stroudsburg, PA
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Gary Frimann, CRS, GRI...
Gilroy, CA
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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John Juarez
Fremont, CA
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Lynnea Miller
Bend, OR
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Shayne Stone
Fulshear, TX
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Bob "RealMan" Timm
Minot, ND
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Richie Alan Naggar
Riverside, CA
1,507,073
Mine only told me the winning mega lotto numbers. Oops, did I say that out loud. Inside voice! Inside voice!
I see more of the same, along with the normal ebbs and flows of the seasons.
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Wanda Kubat-Nerdin - W...
St. George, UT
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Carla Freund
Raleigh, NC
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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Steve Higgins
Kelowna, BC
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Lyn Sims
Schaumburg, IL
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Gary Frimann, CRS, GRI...
Gilroy, CA
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Candice A. Donofrio
Fort Mohave, AZ
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Karen Climer
Orlando, FL
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Bob "RealMan" Timm
Minot, ND
1,555,089
It's been an awesome market and I see more awesome coming!
Sales are up, buyers are buying and sellers are selling and I'm scoring some great deals for both through skilled negotiations. 😎
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Wanda Kubat-Nerdin - W...
St. George, UT
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Carla Freund
Raleigh, NC
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Steve Higgins
Kelowna, BC
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Gary Frimann, CRS, GRI...
Gilroy, CA
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Joan Cox
Denver, CO
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Kris Collis, Associate...
East Stroudsburg, PA
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Bob "RealMan" Timm
Minot, ND
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Thomas J. Nelson, REAL...
La Jolla, CA
1,326,624
My crystal ball is in the shop for repairs.
All I can say is, whatever is to come, I will be applying myself to gain success.
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Wanda Kubat-Nerdin - W...
St. George, UT
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Doug Dawes
Topsfield, MA
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Steve Higgins
Kelowna, BC
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Kris Collis, Associate...
East Stroudsburg, PA
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Gary Frimann, CRS, GRI...
Gilroy, CA
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Joan Cox
Denver, CO
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Karen Climer
Orlando, FL
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John Pusa
Glendale, CA
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Bob "RealMan" Timm
Minot, ND
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Kathleen Daniels, Prob...
San Jose, CA
717,185
Inflation is taking a bite on everything we buy. Mortgage interest rates will be in the 5 to 6% rates for sometime. Buyer will start purchasing with adjustable rate mortgages. Home prices (at least in our market) will moderate and the rate of increase will slow down. We still don't have sufficient inventory, but there are far more options for buyers than there were.
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Wanda Kubat-Nerdin - W...
St. George, UT
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Carla Freund
Raleigh, NC
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Doug Dawes
Topsfield, MA
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Steve Higgins
Kelowna, BC
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Kris Collis, Associate...
East Stroudsburg, PA
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Gary Frimann, CRS, GRI...
Gilroy, CA
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Bob "RealMan" Timm
Minot, ND
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Kathleen Daniels, Prob...
San Jose, CA
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John Juarez
Fremont, CA
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John Pusa
Glendale, CA
1,625,253
We do see some price reduction/correction, but all transactions I worked recently on had multiple offers and went in escrow over asking price~ so that is that in reality....
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Wanda Kubat-Nerdin - W...
St. George, UT
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Carla Freund
Raleigh, NC
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Doug Dawes
Topsfield, MA
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Gary Frimann, CRS, GRI...
Gilroy, CA
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Kris Collis, Associate...
East Stroudsburg, PA
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Bob "RealMan" Timm
Minot, ND
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Kathleen Daniels, Prob...
San Jose, CA
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John Juarez
Fremont, CA
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John Pusa
Glendale, CA
2,403,144
I have no clue as to the housing market in the Minot ND area William being I am retired but historically Minot has had a very steady market. It seems to me, just driving around, that there are very few homes for sale in our area.
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Doug Dawes
Topsfield, MA
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Steve Higgins
Kelowna, BC
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Gary Frimann, CRS, GRI...
Gilroy, CA
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Joan Cox
Denver, CO
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Kris Collis, Associate...
East Stroudsburg, PA
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Kathleen Daniels, Prob...
San Jose, CA
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John Juarez
Fremont, CA
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John Pusa
Glendale, CA
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Lynnea Miller
Bend, OR
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Shayne Stone
Fulshear, TX
3,350,764
I see continued price reductions.
I see ongoing and continued increases in food prices.
I see opportunities.
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Wanda Kubat-Nerdin - W...
St. George, UT
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Carla Freund
Raleigh, NC
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Doug Dawes
Topsfield, MA
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Steve Higgins
Kelowna, BC
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Gary Frimann, CRS, GRI...
Gilroy, CA
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John Pusa
Glendale, CA
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Bob "RealMan" Timm
Minot, ND
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Kathleen Daniels, Prob...
San Jose, CA
836,135
I see opportunity despite recession, inflation, high rents and mortgage rate increases which will continue upward. There will be a flurry of adjustable-rate mortgages versus fixed for 15 or 30. People will always upsize, downsize, move to new locations for many reasons.
I have lived through many cycles in my 30+ years in the business. 😎
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Wanda Kubat-Nerdin - W...
St. George, UT
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Carla Freund
Raleigh, NC
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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Steve Higgins
Kelowna, BC
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Gary Frimann, CRS, GRI...
Gilroy, CA
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Bob "RealMan" Timm
Minot, ND
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Candice A. Donofrio
Fort Mohave, AZ
4,182,252
Hello William, higher interest rates will slow the buying power and the market
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Wanda Kubat-Nerdin - W...
St. George, UT
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Doug Dawes
Topsfield, MA
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Steve Higgins
Kelowna, BC
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Gary Frimann, CRS, GRI...
Gilroy, CA
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Joan Cox
Denver, CO
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Bob "RealMan" Timm
Minot, ND
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Kathleen Daniels, Prob...
San Jose, CA
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John Juarez
Fremont, CA
1,202,697
People need to live somewhere and people buy & sell in both up and down markets. I do expect a downturn and the Fed is bound to exacerbate it.
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Steve Higgins
Kelowna, BC
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Wanda Kubat-Nerdin - W...
St. George, UT
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Bob "RealMan" Timm
Minot, ND
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John Pusa
Glendale, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Candice A. Donofrio
Fort Mohave, AZ
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Joan Cox
Denver, CO
1,574,421
Market has slowed, getting slower, and is heading towards a buyer's market. DOM and price drops are increasing while SP to LP is slipping.
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Wanda Kubat-Nerdin - W...
St. George, UT
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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Steve Higgins
Kelowna, BC
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John Pusa
Glendale, CA
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Bob "RealMan" Timm
Minot, ND
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Joan Cox
Denver, CO
195,522
I tell my students that once you are in real estate, people will ask you want is going to happen to the market the way they ask other people about the weather.
They say to their other friends: "Hey John, how are you? It looks like we're going to have a nice storm this afternoon."
They say to you: "Hey John. How are you? How's the real estate market? What do you think it's going to look like next month?"
Predicting the market is the mundane small talk of our industry.
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Wanda Kubat-Nerdin - W...
St. George, UT
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Carla Freund
Raleigh, NC
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Doug Dawes
Topsfield, MA
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Steve Higgins
Kelowna, BC
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Bob "RealMan" Timm
Minot, ND
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Gary Frimann, CRS, GRI...
Gilroy, CA
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Karen Climer
Orlando, FL
808,779
If interest rates continue to climb our market will continue to slow and prices may go down or hold their own.
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Wanda Kubat-Nerdin - W...
St. George, UT
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Bob "RealMan" Timm
Minot, ND
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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John Pusa
Glendale, CA
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Joan Cox
Denver, CO
5,246,534
Price reductions will increase and so will inventory. Mortgage interest rates will slow some buyers. Watch the economy closely.
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Wanda Kubat-Nerdin - W...
St. George, UT
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Kathleen Daniels, Prob...
San Jose, CA
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Doug Dawes
Topsfield, MA
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Steve Higgins
Kelowna, BC
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Gary Frimann, CRS, GRI...
Gilroy, CA
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Bob "RealMan" Timm
Minot, ND
6,425,924
The market doesnt matter, I plan to be very busy growing my business.
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Wanda Kubat-Nerdin - W...
St. George, UT
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Doug Dawes
Topsfield, MA
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Steve Higgins
Kelowna, BC
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Gary Frimann, CRS, GRI...
Gilroy, CA
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Bob "RealMan" Timm
Minot, ND
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Karen Climer
Orlando, FL
921,504
In the next few months, the FED adjustments will have mortgage interest rates in the 8% level. Historically, that has not been a showstopper.
Assumable mortgages will be a tool just as short sales were new tools a few years ago. Some will use them others will ignore them.
Consumer confidence will continue to decline, and it will be incumbent upon the PROS to sort the qualified from the dreamers.
But 1.7% of the population will continue to change addresses and with a smaller pie, new strategies, even illegal ones like BUYING listings and 'closed' inventory will shadow the marketplace. Add a little discriminatory lending and you've got yourself a real conundrum.
This fed inflicted STALL should create opportunity for new tech and a new way of conducting real estate transactions to get a foot hold. The economics will be undeniable, but NAR remains the 800 lb gorilla that will do all it can to not let change happen.
By the way, did you hear NAR is paying to have a tree planted for each NAR member. At you next opportunity ask your NAR official where the tree is with your name on it.
Those who demonstrated the discipline to live below their means will do just fine in the 8% marketplace.
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Wanda Kubat-Nerdin - W...
St. George, UT
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Candice A. Donofrio
Fort Mohave, AZ
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Doug Dawes
Topsfield, MA
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Steve Higgins
Kelowna, BC
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Bob "RealMan" Timm
Minot, ND
5,879,816
The market is slower, buyers now have choices with the inventory increase.
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Doug Dawes
Topsfield, MA
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Steve Higgins
Kelowna, BC
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John Pusa
Glendale, CA
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Bob "RealMan" Timm
Minot, ND
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Gary Frimann, CRS, GRI...
Gilroy, CA
1,057,664
I have quite a few people wanting to open gun shops. LOL
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Wanda Kubat-Nerdin - W...
St. George, UT
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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Lyn Sims
Schaumburg, IL
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Gary Frimann, CRS, GRI...
Gilroy, CA
3,142,075
Stall in sales, rising interest rates, escalating food and gas costs and more of the same that is presently taking place...other than that...
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John Pusa
Glendale, CA
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Candice A. Donofrio
Fort Mohave, AZ
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Steve Higgins
Kelowna, BC
902,538
It's changing...
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Wanda Kubat-Nerdin - W...
St. George, UT
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
766,969
Our local market is stagnant with few sales and price reductions happening steadily. Homes are still being listed at unrealistic prices. I think the off season, Halloween to the middle of February, will be awfully slow. Homes should start to be listed at more realistic prices next spring and sales should pick up around the middle of April.
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Wanda Kubat-Nerdin - W...
St. George, UT
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
907,771
An appraiser told me he feels the market will settle like a feather. I thought that described our market will.
I think the government will continue to play with the interest rates. People with money will continue to buy and those without will continue to rent. I think we'll see renters and some buyers move out to less expensive areas. That will cause issues with the affluent areas hiring people to do entry level jobs or even necessary jobs (teaching, police, etc). The government will then need to print more money to subsidize those folks so they can live in the communities they work in. It's a hamster wheel!
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Wanda Kubat-Nerdin - W...
St. George, UT
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Bob "RealMan" Timm
Minot, ND
420,003
I see rainbows and blue skies but I cannot predict the date for that weather. Meanwhile I'm worried about Realtors and clients in Florida as the ones in Puerto Rico got hit by the Hurricane Ian.
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Wanda Kubat-Nerdin - W...
St. George, UT
459,182
Market in Santa Fe NM is adjusting to continued LOW inventory and the Federal Reserve's attempt to stop inflation. Unfortunately, IMO their crystal ball is busted as inflation is not being caused by higher wages, but by the more underlying problem of profit price inflation where companies continue to raise prices above costs. IMO due to the Fed missing the mark, they are creating a bifurcation of the housing market with mortgage interest rates approaching who knows what next. Does anyone know if NAR is doing anything issue?
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Wanda Kubat-Nerdin - W...
St. George, UT