How
did 2022 turn out in real estate mortgage and construction? One year ago, we
asked a local loan officer, Josh Booth at Security Federal, what his predictions
of the 2022 market were???? We also had predictions from Carraway Builders. Were
they right??? To get the full details of his predictions make sure to go back
and check out that video! https://youtu.be/uN_HBfjs6LM
Let’s
welcome back Josh Booth of Security Federal. How close was Josh… Do you dare
come in? Josh predicted that the interest rates would continue to rise in 2022.
Did
they? Interest rates did rise throughout 2022. Interest rates currently at the
end of 2022 for a fixed 30-year mortgage is 6.51% nationally. Insider info…What Josh did predict (which was
not on video) how high they would jump up but he told us he thought 5, maybe… 6%.
Please note in fall of 2022 at one point they popped up to 7+%. Josh's
last prediction was hot off the press at that time. Josh said second home
mortgage terms would be different and interest rates would be higher.
Second
home mortgages had an increase in interest rates as well! Second home mortgage rates can be 0.5-1%
higher! I give him 2.5 out 3 predictions since he did not predict the spike of
7%; where is your crystal ball, Josh?
Now… how did Anthony Carraway of Carraway Builders
do with his prediction. Let’s welcome
back Stephanie Carraway an Aiken Homes Team member who is an awesome buyer’s
agent specialist and has a strong background in construction.
Let’s listen to last year’s prediction https://youtu.be/uN_HBfjs6LM
Anthony got it exactly right! Stephanie so what does
Anthony predict for new construction or remodeling for 2023?
In the early part of 2023 I think
building prices will start to stabilize in the custom home market as material
prices begin to level out. However, the current price point will be maintained
with Builders continuing to hunt for skilled labor to fill shortages over the
next year.
That’s an interesting point about
finding skilled labor. Any other predictions? I think the first quarter of the
year we will see customers that were waiting on more stability in the market
make plans to start custom projects or turn to competitive resales hitting
the market. This will most likely support the market returning to normal levels
by the end of the year.
Wow
what great information and pretty much spot on what happened in 2022. We have
an awesome team and great resources to help our buyer and seller clients make
the smart decisions.
To
stay up with what’s going on… Make sure to subscribe to our YouTube channel,
hit the bell for more videos throughout the year and like our page; this is valuable
info.
Even
though the real estate market is everchanging there is no better time to invest
in yourself and your dreams. If owning or building a home is a goal for 2023,
we would love to be your real estate team that guides you through the real
estate maze.
It’s a big decision, we know. We’re here to help! It's your home, your lifestyle, and we want to be your real estate team.
Brandi
Cook + Vikki Crossland
Meybohm
Real Estate
#thesearchisover
#aikenhomesteam #meybohmrealestate #theplacetobe #aikenrealestate
#augustarealestate #csra #wesellscandga #licensedinscandga #weeklyvideo #brandi+vikki
#themoreyouknow #realtipsandtrends #homeowners #sellers #buyers
#teamworkmakesthedreamwork #aikencounty #richmondcounty #columbiacounty
#southcarolina #georgia #realestate #itsabigdecision #weknow #heretohelp
#Responsive #Experienced #Authentic #Loyal #generationsofREALservice #yourhomeyourlifestyleyourteam
No comments:
Post a Comment