A Message from our Newsletter Sponsor,
Andrea Chirich:
New Year's Resolutions
As 2023 comes to a close and we enter 2024 many of us consider resolutions we want to make for 2024. My personal resolution is to improve my work – life balance. In this business it is very easy, and fun, to simply work all the time! I am resolving to round out my time with more time for family, friends, and horses. If you make New Year’s Resolutions, what is yours? If one of those resolutions involves moving closer to family, retiring and having the ability to live wherever you want, living in a different climate, or changing your living situation so travel is easier to do, or any multitude of reasons, selling your current home may be on your 2024 list.
On average, we are staying longer in our homes than in decades past. Prior to 2008 we stayed in our homes on average 6 years. Since 2009 that number has been rising, with the average now at 10 years. A lot of life occurs in 10 years, and your current home may not fit the needs of your life now. That time span has also allowed for significant equity growth in our homes. Selling your current home and taking advantage of the equity you have accumulated with the
rise in home prices, can be a fantastic way to fuel your next lifestyle home.
The real estate market has been slow through the holidays, and appreciation has slowed to 3.5ish% year over year, which is all indicative of a return to a historically normal housing market.
However, the Fed, at this time, is planning to hold interest rates steady, and we are hearing rumors of potential interest rate decreases as inflation is brought under control. Those factors could bolster the real estate market and increase buyer demand. We could see a robust real estate market for 2024.
If you are considering whether a new home, location, etc., would work better for changes in your lifestyle, and you’d like a professional to chat with, let’s connect. I’d be happy to share
information so you have clarity and confidence in making the best decision for you.
Wishing you all the Happiest of Holidays and an abundant and joyful 2024 with your Resolutions realized!
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