435-753-4577 text
Homebased Realtors
Adjustments Have To Be Made
In A Nobody's Market.
What is a Nobody's Market, click
 


US Inflation Rate (I:USIR)

3.18% for July 2023, 3.7% for August. Click here  after See consumer price index They're trying to get it to a 2% level and everyone is feeling the pinch as interest rates climb! No longer can we be in the fog mindset of a year or two ago. Also see click  

As inflation soars, a look at what's inside the consumer price index. Click here  The links above will give you an idea of the reality of the market


People still have to buy and sell in a Sellers Market Buyers Market and a No Body's Market As your Broker we'll need to sit down and punch in the reality numbers and feel what buyers are feeling, and make rational decisions based on the state of economy.

As a seller Its important to think as if you're a buyer in a No Body's Market and as buyer Its important to think as if you're a seller in a No Body's Market


We will go through the experiences
a seller and a buyer will be facing in a no body's market. We will use with the calculator above
AMORT-PRESENT VALUE-INTEREST and MONTHLY PMT


Think of this....
If you were to buy a home August 2021 at $400,000.00 with $20,000 down with a loan amount of $380,000 at 2.9% for 30 years your monthly payment, not counting Tax & Insurance = $1,581.67 per month.
 
Today, same numbers except interest rate 7.48% your pmt would be $2,651.81, an increase of 68%
Wages have not increased 68%


ShowingTime Clip courtesy of Jason Walter: The US Housing
Market is in BIG Trouble: Mortgage Rates Jump to 23yr Highs. 

Click on ShowingTime Video Below...



Three Things To Think About With The scenario above...
1. Pmt is $1,700.00 more today then 2021 of August.
2. 4.6 increase so buyers purchasing power dropped by 46% compared to Aug 2021. 
3. In the life of the loan $189,403 in interest paid VS today's rate.  $574,653 over the life of the loan.
 
You need to be wise!!!
When listing your home right the first time when we are in a NO BODY'S MARKET.
 
SO NOW WHAT!!!
 
1. Sellers need to re-thinks what's happening in todays market. Not A sellers market, not a buyers market, but a No Body's Market. 

The reality is real, seller's have to get out of the self-denial fog and list correctly from the start. None of this, list high and hope they wheel and deal down to appraisal, those days are gone in a no body's market.

The current economy is killing deals as interest rates keep going up. We will keep seeing rates go up or stay high as the FED tries to maintain a 2% level. 
3.18% for Jul 2023, Aug 3.7%. Click here I hope I'm wrong but we may see rates climb to 8-9 percent in order to reduce the 3.18% to the 2% level the FED is seeking. 

2. Need to consider paying buyers closing costs and pre-paids, etc., Need to do more then flyer boxes on signs when selling your home. This is a Tech world now. The real estate market is changing with high tech marketing. 

3. As with 1976-77-78-79-80 and on through 1987 we will talk about the Federal Reserve Discount Rate and upcoming ahead of the curve what to do in 2024, it's too early for this strategy in 2023. Sellers will, through nobody's market denial, hold back on doing this strategy.

I hope I'm wrong on all of this. but all the indicators that I have been following for the past two years ( from 2020 to now ) are telling me, based on the Fed's inflation rate goal of 2% and in July 2023 we were at 3.18%, Aug 3.7%, so we may see interest at 8-9%. So, if tomorrow it all of a sudden the inflation rate was at 2%, they will NOT put the interest rate back to 6% because we'll be right back at 7-8-9%. There will be + or - adjustments, a little here a little there, as what happen in the Reagan years. The out of control spending, not just from democrats but both sides got us where we are at now.
 



 
The Weird State Of
Housing Today
Click Here!

Here is a list of price reduced homes today! Click click on search tab, price changes will show up.  When selling your home right the first time, you'll need to make rational decisions.
It's a No Body's Market
 
Buyers and Sellers don't need just any real estate agent. Buyers and Sellers need somebody in this nobody market they can trust to provide services. Someone who KNOW's and was involved in the NOBODY's market of 1976 through 1987 when interest rates were 21% to 12-10 % I knew the pain and the misery of the market, its important to have someone who can advice and help people make rational decisions based on realistic expectations experenced from Carter / Reagan / Biden years. That may mean not buying or selling yet, you may need to hold off, but there are others who don't have that option, they have to buy or sell, even dead people need real estate, there is no option.

I'm creative, flexible, and very patient. I help Buyers and Sellers make rational decisions in real estate during a no body's market.

RecentSoldData.com Cache County

 

How I Sell Your Home During A
No Body's Market Economy 
Text How TO 435-753-4577
You'll get text link sent.


Scott Thompson

455-753-4577 Text but you can call as well
Seasoned Broker 41+ yrs, with up todate Tech marketing!