Happy New Year!
For me, because I overly decorate for Christmas, I look forward to the blank slate of taking it all down and deciding what to bring back versus keep in the attic. For many people, this is a time of deciding if next year is the year to make a move. Larger space, more storage, smaller home and less to clean, or the realization of how much profit can be made to get you into that next home. After many year-end meetings, reading articles on mortgage rates, working with our local lender, Justin Burris from Fairway mortgage Company, here is a brief scoop of what to expect in 2022:
1- Inventory remains low. Demand remains high. We do not foresee a change in the 1st half of 2022 on anything with the current sellers market we have been experiencing.
2- Interest rates are expected to increase. We had that joyous time of rates that started in the mid 2 percent range, however, we are already back in low 3’s (which is still incredible), and those should softly rise as the year continues. Of course we do not have a crystal ball, but this is what we are reading and hearing. When I say softly, we are talking 3’s and maybe 4’s, but compared to where interest rates were 15 years ago, still low cost for borrowed money.
If you are considering moving, waiting for prices to decrease means you may be waiting a long time in the Raleigh market. People are moving here from all over and often. With the low supply, there are always more buyers than homes, so that does not change the pricing.
I keep an ongoing spreadsheet on all offers received on our listings. This gives our clients a view of what wins a home in these market conditions. This does cover all price ranges, so it is a great way to truly know what it will take to secure yourself a new home in 2022.
The Jenne Homes Team at Compass has additional offerings that may interest you. Staging, painting, home repairs, cleaning, all of the details that make a move feel overwhelming can be paid for with no interest, no fees by Compass as long as you have the equity in your home to repay this at closing. It removes the upfront cost, and keeps your money in your accounts where it is making money! We also have a bridge loan program to help bridge the gap between buying and selling, all information we will provide to you at any time if you are interested.
Also, I’d recommend reading our REVIEWS. We have several clients also willing to take a phone call if you’d like to hear from someone else what it is like to work with our team, and why we really do stand out. You are our priority.
YOUR HOME, OUR MISSION
Email jenne@jennehomes.com to set up a time to discuss a move with any of our team members in the new year.
