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As the cost of lending rises and house prices continue their upwards momentum, things have accelerated faster than most people predicted in the first quarter of this year. So what can we expect from the spring and summer housing market? Will this trend continue, or is there a reversal coming? Hey there, Jenevieve Croall with JLUX Homes. Earlier this year, I gave you a peek into what 2022 had in store for the housing market. As we head into the bottom of the 2nd quarter for 2022, let me catch you up on what’s happened, where we are, and what lies ahead for the rest of the year. The housing market has outperformed almost every investment class for the past two years and has proved many experts wrong in the process.While no one knows exactly what will happen, we can make a few educated guesses. Here are my four key predictions for the housing market in the second quarter and 3rd quarter of 2022. Number 1: Less competition for high-end and luxury homes.While the average home price is increasing, this rate doesn’t affect the entire market equally. The vast majority of buyers are concentrated in the affordable end of the market, which has the added consequence of diluting those looking for luxury properties. While the top end has seen growth, it hasn’t kept pace with more affordable homes in terms of price percentage increase. Number 2: Higher mortgage rates force some buyers out of the market.This one may seem a little obvious, but it does need to be said. Higher mortgage rates combined with an ever-increasing cost of living means that many people simply can’t afford to purchase a home. Number 3: House prices will continue to rise, but growth will slow. 2021 was a record year for house prices, with the median price tag increasing by 18.8%. While 2022 started in much the same fashion, most economists agree that acceleration will peak in May at 22% before slowing down to 17.8% by 2023. That being said, those increases are substantial, especially year on year. Number 4: The Great “Return to the Office” will see more demand in urban areas.As pandemic-related travel restrictions ease and the world gets more or less “back to normal,” many businesses will insist their employees return to the office. This can be a problem for many who initially escaped during the height of the pandemic by moving from urban areas to more rural properties where remote work was simple, and life was more affordable. This shift could see a greater demand in urban regions once again.That’s it for my market update. I will be sure to keep you updated as changes occur. If you’re watching this and ready to make a move, contact me today. My team and I are prepared to help you navigate today’s market. And as always, thank you for your referrals

Mortgage rates have just hit a 12-year high – clocking at more than 5.5% in the last few weeks. It’s not where the rates are at that has me taking notice – it’s how quickly we got here. So, the million-dollar question is, will this trend continue, or will interest rates finally start to cool down? Hey there, Jenevieve Croall here with JLUX Homes. The start of 2022 hasn’t been good for inflation. While it’s not the worst we’ve ever experienced, these rapid inflationary pressures are starting to creep up to levels not seen since the early 1980’s. So, what does that mean? Well, apart from your weekly groceries costing a lot more, inflation puts upward pressure on interest rates. When inflation begins to escalate past the acceptable 2-3% per year range, the FED usually steps in with a range of economic actions to stabilize the economy. One such action is raising the official interest rate in which the Federal Reserve lends money. The banks and financial institutions then pass on this rate to you, the mortgage holder, making your monthly payment just that little bit more expensive. The FED has already increased rates for the first time since 2018, with another six more penciled in for the rest of 2022.I made a video back in February warning of imminent Fed increases and the subsequent rises in mortgage rates that were coming. So where do interest rates go from here? Well, almost everyone has been proven wrong in some way trying to predict how fast these rate increases have been coming. All we can say for sure, is the upward trend will continue. So, what effect does that have on house prices? This perfect storm of economic conditions also pushes your average house price up – the number of houses for sale is down while the demand has skyrocketed. Okay, enough of the bad news; there is a silver lining to situations like this. Firstly, if you’re in a position to buy, now is a great time to lock in an interest rate we might not see again for some time and pick up a property that is reliably accruing equity. Secondly, if you’re retiring or looking to downsize your home, selling is an excellent opportunity to cash out and take advantage of record housing prices.And finally, we’ve been here before, and an inflation rate of 8.5% is nowhere near the extraordinary highs of the 1980 recession, where inflation hit 13.5% and the mortgage rate a staggering 18.63% That’s it for today’s update. If you’re watching this and you want to make a move before interest rates go up, contact me so we can discuss your options for buying in today’s market. And as always, thank you in advance for your referrals.

Did you know if you repurchased a house in 2002, it’d be worth more than twice what you paid? That’s right. Despite a financial crisis and the pandemic, home prices have continued to increase, climbing by 106% in just two decades! Hey there, Jenevieve Croall here with JLUX Homes Realty Group and I’d like to tell you why investing in real estate is – and always will be – your best investment. But you may be thinking… Real estate is expensive, it can take years to pay off, and financial and economic uncertainty mean danger for property, right? Wrong. Despite the risks we’re facing in 2022, real estate is among the most stable and reliable investments out there. In fact, all this uncertainty means you SHOULD be investing in property – and here’s why. Property is safe: When considering the long-term performance of real estate versus risky investments like stocks and bonds, there’s just no comparison. Historically, return on investment for housing sits at around 9%, while the S&P 500 boasts a more volatile 5-8%. It’s simple math. Property represents a physical asset: While other investments are digital in nature, you get to enjoy your purchase with real property. Whether you’re living in a home, renting it out, or using it to earn income – nothing beats having a literal roof over your head. And property pays: Investing in property is like running a marathon – it’ll take time to see returns, but it’s worth the wait when you do. Besides playing the long game, your initially high investment will likely pay some pretty healthy dividends later. So, if you’re looking to make a dependable, long-term investment that pays off down the road and enjoys virtually guaranteed returns, then purchasing real estate is your best bet. Contact me today for informed, up-to-date info on the market and get ahead in planning for your future. Whether you want to invest in the US or abroad, we are here to assist. Because there is no better investment than in real estate – and I’m here to get you started.

Let’s get real, It is not a surprise to many of you that in today’s real estate market, buyers need THE ULTIMATE competitive edge to win in this new Hunger Games style home search! BUT what if I told you I could turn you into an ALL CASH BUYER, giving you that ultimate advantage over all your competition. Hi there, Jenevieve Croall here with JLUX Homes Realty Group. In my last post, I talked about how JLUX Homes has partnered with HomeLight to help my local sellers unlock their full market equity BEFORE buying their new home. Today I want to talk about how HomeLight is turning ALL my BUYERS, regardless if they currently own a home, into CASH KINGS! HomeLight Home Loans has a revolutionary new product where they will purchase your new home, on your behalf in CASH! Then they will finance it back to you with a traditional conventional loan, with competitive rates and no lender fees. Let’s talk about why this is a HUGE game changer for all my local and out of state clients.

First off, Sellers are looking for the strongest offer, and most of the time that means a cash heavy offer with a quick closes and even financing and appraisal contingencies waived. Positioning yourself as a CASH BUYER puts you in this wheel house and will bring your CASH OFFER to the top of the pile when sellers are sifting through multiple offers. Once your cash offer is accepted by the seller, HomeLight will then use their funds to purchase your new house and can close in as early as 8 days. Then HomeLight holds the home while you secure traditional conventional financing with them and as soon as your loan closes, HomeLight sells the home to you at the same price they purchased. Typically this all can be done within 21 days! o recap, HomeLight Home Loans turns our buyers into Cash Buyers, allowing them to win contracts and close quickly.

To learn more about HomeLight and JLUX Homes can help you achieve your real estate goals, let’s chat!

Are you like many of our local clients who are sitting on a ton of equity and looking to buy a new home, but need to sell their current one first? If so, keep watching because your mind is about to be blown on what we are doing for our sellers to give them the ultimate advantage!

JLUX Homes has an exclusive new partnership with HomeLight, a company which allows you to sell your home on your own timeline for the FULL market value after you close on your new home, while unlocking the equity in your current home so that you can make a contingency-free offer on your next home! Here’s how it works:

#1 We’ll work with HomeLight so they can make an offer on your current home — and guarantee it. That’s the price they’ll pay you for your current home as soon as you’re ready to move into your new home.

#2 This will allow us to make a stronger offer on your new home. When we’ve found the home of your dreams, you’ll be ready to make an offer with no lending or home sale contingency.

#3 This will also allow you to move on your schedule. Once your offer is accepted, everything comes together in days, not months. HomeLight buys your home at the guaranteed price so you get the cash to close on your dream home and control when you move.

#4 The best part is that you get full market value when we sell your home. Once you’ve moved out and are in your new home, I’ll work with you and HomeLight to list your previous home. If your home sells for more than the price HomeLight paid for it, they’ll give you the additional cash minus traditional selling costs and program fees, which are typically just 1-1.5%
of the sale price.

Effectively, you are able to list your home on the open market to get full value while you’re already living in your new home. Your previous home will be vacant so I can work with HomeLight to prep and stage it and you don’t have to worry about any of the repair work or showings.

JLUX Homes is thrilled to be able to offer this program to our local sellers and stay tuned to learn how HomeLight is also helping our Buyers on the other side by turning them into strong, all-cash buyers by submitting offers on their behalf allowing our clients to win contracts, close fast and finance their home purchases with as little as 5% down.

Aren’t you just a little curious about what your home would sell for in today’s market? Hey there, Jenevieve Croall here with JLUX Homes Realty Group. Owning a home is one of the most significant financial investments you’ll ever make.As your real estate consultant, my MISSION is to keep YOU informed about how your investment is doing. So regardless of whether you’re thinking of selling or planning to stay in your home, one of the services I provide is a yearly HOME CHECKUP, also known as a COMPARATIVE MARKET ANALYSIS. This way, you’re “in the know” as to the CURRENT market conditions and how they affect the value of your home. This report can also be helpful this time of year with either your tax returns, challenging your upcoming property tax assessment, or even knowing if NOW is the right time to sell. And trust me, these reports are NOT the same as a “ZESTIMATE” on Zillow or any other automated systems. These are up-to-date and accurate reports done by me, your local market expert.

Click the link to claim your complimentary home checkup today. We are here and ready to serve you and your referrals. And if you’re NOT a homeowner, contact me today so we can discuss your options for buying in today’s market.

Why is housing inventory so low, and when will it improve? Let’s talk about it.Hey there, Jenevieve Croall here with JLUX Homes. Right now, we are in a sellers’ market, so there is intense competition for buyers. The bottom line is that there are far more buyers searching for a home than homes for sale. So why the big shortage? We can attribute the shortage to a few things…The first reason is that New home construction has fallen behind despite a continuously increasing population. Builders have not been able to build enough homes to meet historical averages for 13 straight years. Another factor for the shortage is the pandemic. Under lockdown, inventory plummeted to record lows, as sellers stopped putting their homes on the market, while buyers quickly snapped up the few that were still available. At the same time, 2020 mortgage rates sunk to levels not seen in a generation and buyer demand skyrocketed, with eager millennials willing to pay top dollar for the shrinking number of available homes.So when will the shortage end? There is good news! Experts predict that more homes will soon be available due to sellers reentering the market. And while inventory should keep moving upwards, don’t expect a sudden surplus any time soon.Buyers can also expect to have a little more luck finding a new construction home this year, but supply will still be pretty tight. But you shouldn’t put your plans on hold just because the market hasn’t stabilized yet. Waiting could cost you as interest rates will likely increase, and home values will continue to rise. Contact us today for a complimentary consultation. As your trusted advisor, I will help you navigate today’s low housing supply while still reaching your real estate goals. I look forward to serving you.

Is NOW the best time to sell? Hey there, Jenevieve Croall here with JLUX Homes. Can you believe it? The spring listing season is less than a month away! With everything that’s going on in real estate right now, if you’re thinking about selling, well, you couldn’t ask for a better time. Here’s why. Homes are in crazy short supply right now – we’re seeing the lowest inventory of homes for sale in decades! That’s driven demand to record levels, and buyers are willing to pay top dollar for homes. And interest rates are expected to rise – I’m sure you’ve heard that the fed has already pointed to a hike as soon as March – and they’ll probably do so again a few more times this year. So buyers are locking in their rates and are on the hunt to buy. So if you or someone you know is thinking of taking advantage of the current seller’s market, NOW is the best time to start a conversation. My team will create a custom plan of action based on your unique situation. This includes getting your home prepped and show ready to MAXIMIZE YOUR PROFITS when selling and establishing a game plan for your next home. Simply click the link below to book your complimentary consultation and I look forward to serving you.

Lets discuss what everyone is talking about…Are Mortgage Rates Going Up? Hey there, Jenevieve Croall here with JLUX Homes. You may have heard the news – the Federal Reserve announced that they’re going to be raising rates very soon, possibly as early as March, with more rate increases likely to follow later in the year.While everyone’s been so focused on supply chain issues, the infrastructure bill, and rising prices, the Fed has decided to hike interest rates to match the recovery in the jobs market and in an attempt to combat inflation.So, what does this mean for mortgage rates? Will they increase?Probably, but it’s hard to say. Mortgage rates don’t usually rise in tandem with the Fed’s rate increases, not in the short-term anyway – and especially when inflation is as high as it is.But that’s not to say your mortgage rates won’t feel the effect of a rate hike now in the longer run. Only time will tell.Let’s not forget though – borrowing costs are still at all-time lows at the moment, so taking out a mortgage for a new home is still very affordable.If you’re looking to buy but aren’t sure what the market will do in the next couple of months, I’ll help you understand how things are shaping up. Chat with me, and we can explore the options you have as well as how the Fed’s recent decision will affect you.

What can we expect for the real estate market in 2022? Hey there, Jenevieve Croall here with JLUX Homes Realty Group. As we say goodbye to a very busy 2021, it’s time to turn attention to what lies ahead for us in the new year. First, let’s take a look at Home Prices. While record-low inventory sent home values rocketing in 2021, it looks like stock levels are starting to catch up. Prices will continue to rise – just slightly slower, at around 5.8%, compared to the 11.7% average seen in 2021. And most experts predict that we won’t see depreciating prices anytime soon. What will Home Inventory look like in 2022? 

2021 was an extremely tough year for housing supply, as buyers far outpaced sellers in most markets. Housing inventory could improve slightly this year but will likely remain a challenge for years to come. The housing market will remain competitive for buyers, particularly for those looking for homes in the entry-level price range. As for Mortgage Rates: 2021 saw the lowest mortgage interest rates in history. And we can assume that interest rates are unlikely to drop any more for a long time. Rates are predicted to hold steady with a chance of a modest rate increase by the end of the year. 

The low-interest rates mean that even though homes are a little more expensive this year than last, they are still extremely affordable. All in all, 2022 is shaping up to be a whirlwind year, with predictions of home sales hitting their highest level in 16 years, rising 6.6 percent year-over-year. Remember, great rates mean that buying in 2022 is still very affordable, and if you’re thinking of selling this year, it’s a great time to take advantage of good price appreciation and willing buyers. Give me a shout to discuss how today’s market affects your future real estate plans. Thanks for watching, and here’s wishing you a fabulous 2022!

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