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THIS MONTH: THE HALLOWEEN ISSUE
This October, I've selected fun articles on how to decorate your home, all things trick-or-treating, and the ghoulest Halloween party ideas including the ultimate Halloween party playlist!
Then I've compiled some great picks for community events for the family to enjoy Fall and Halloween in our community.
Send me a photo of your Halloween costume?
And maybe next month I can post one of mine?
Oh and if you're selling OR buying a home, allow me to offer you some seasonal tips:
FOR SELLERS: Stage with warm lighting, pumpkin/ gourd accents, the smells of Autumn, throws, tree branches, and a cozy entryway and mantel to make buyers fall in love at first “boo.”
FOR BUYERS: I’ll help you charm the market!
ON THE REAL ESTATE FRONT
The Good News this month? With mortgage rates finally starting to inch down, more buyers will enter the marketplace and more homes will go under contract.
Indeed, this is good news for both Buyers and Sellers.
According to Lawrence Yun, Chief Economist for the National Association of Realtors:
"Home sales have been sluggish over the past few years due to elevated mortgage rates and limited inventory, however, mortgage rates are declining and more inventory is coming to the market, which should boost sales in the coming months."
And to counter another challenge in the market where homeowners who had refinanced during the pandemic and became frozen into homes they've overgrown, he had this observation:
"Record-high housing wealth and a record-high stock market will help current homeowners trade up and benefit the upper end of the market."
Another interesting market characteristic according to Sydney Lake, Associate Editor at Fortune, Millenials and Gen Zers are desirous of entering the housing market.
If you'd like to meet so I may help you evaluate your present home value, or if I may help you find your next home, I am always here for you!
Check out recent mortgage rates below.
CURRENT MORTGAGE RATES AS OF OCTOBER 2:
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30-year Fixed - 6.61% [last month 6.51% and month before that 6.76%]
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15-year Fixed - 5.58% [last month 5.60% and month before that 5.60%]
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30-year FHA - 6.12% [last month 6.25% and month before that 6.49%]
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30-year Fixed V.A. - 6.12% [last month 6.04% and month before that 7.14%]
MARKET HIGHLIGHTS
Below, please find national real estate housing data and infographics from the National Association of Realtors. Keep reading to view the summary for the Louisiana market and in particular, St. Tammany and Tangipahoa Parishes.
We think you'll be most interested in what is happening here, but it helps to be aware of national market trends.
Please keep in mind that on the national level, data lags one month behind.
National Snapshot for the Month of August:
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Pending Sales - increased +4.0% month-over-month [while in the regional South they increased +3.1%]
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Existing Home Sales - decreased by -0.2% - month over month
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Home Prices - increased 2.0% - year over year
Ongoing Challenges:
- Sellers Frozen Into Outgrown Homes Due to Low Interest Rate Lock-In
The month of August continued to trend toward a Buyer's Market with 4.6 months of Inventory.
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