It looks like we are heading back to a market where sellers will benefit more from forethought in home improvements before selling. Here are some thoughts on appliances in the infographic below.
Tag: Sarasota County
Mortgage rates surged to their highest level since 2008 after the Fed’s rate hike. According to Freddie Mac, the 30-year fixed mortgage rate rose to 5.78% from 5.23% the previous week. In addition to increasing the amount buyers will pay to borrow for their mortgage, higher interest rates lower their purchasing power.
Increase the appeal and value of your property by planting some of the trees identified in the graphic below.
The market started to materially shift in April, with even more change arriving in May. We finally have over a month of inventory available for single-family homes in Sarasota County (but just barely). The market still favors sellers in a big way, but more balance appears headed our way.
The National Association of Realtors is forecasting significantly lower home sales numbers for the next year. The chart below shows expected year on year change being negative through Q2, 2023.
