{"id":2283,"date":"2022-01-27T07:14:46","date_gmt":"2022-01-27T12:14:46","guid":{"rendered":"http:\/\/heathertankersley.com\/blog\/?p=2283"},"modified":"2022-01-27T07:20:18","modified_gmt":"2022-01-27T12:20:18","slug":"state-of-the-market","status":"publish","type":"post","link":"http:\/\/heathertankersley.com\/blog\/state-of-the-market\/","title":{"rendered":"State of the Market…"},"content":{"rendered":"

I can hardly believe it’s 2022 already… I know time seems to go faster with each passing year, but boy… 2021 was a whirlwind on so many levels!<\/p>\n

I hope it’s been a good start to your year!<\/p>\n

I’ll be doing a recap of the state of the market, economy, etc. once we’ve gotten all of the final 2021 data in a few weeks.<\/p>\n

HOWEVER, in the meantime, I wanted to reach out with a few important items to consider if:<\/p>\n

    \n
  1. You’re planning on buying a new home (or investment property) in 2022; or<\/li>\n
  2. You’re THINKING of selling or refinancing your current house in 2022<\/li>\n<\/ol>\n

    Here are some things that we know…<\/p>\n

    – We are seeing signs reminiscent of 2021. In other words, low inventory, multiple offers over asking, AKA bidding wars (I’ve had one client lose out on 4 homes in the past 2.5 weeks, ALL of her offers were strong).<\/p>\n

    – Many “EXPERTS” are signaling that mortgage rates are going to start to increase, some expecting it to be in the 4% range as early as March. As mortgage rates rise, buying power declines and there are fewer people that afford the same home.<\/p>\n

    – The Fed is targeting 3 rate hikes in 2022 and two or three more in 2023. (There are a lot of dynamics at play here, and I’d be happy to discuss in more detail about things like mortgage backed securities, measures to reduce inflation, etc., but it’s not very ‘light’ reading for a Friday!)<\/p>\n

    – Property values have increased SUBSTANTIALLY across the market area, with the median list price nearly 25% year over year (values vary depending on county, city, community and subdivision). Predictions are that we will continue to see strong appreciation this year, just not quite as high!<\/p>\n

    So what does this mean for you?<\/em><\/p>\n

    BUYERS:<\/p>\n

    \"StateThis past year has been hard for you… I totally get it! Whether you were waiting it out, expecting a crash (or a retraction), or simply got exhausted from the bidding wars, trust me… I understand.<\/p>\n

    And while I don’t think we’re going to be QUITE in the same place, indications are that we’re going to have to go back to some of the tactics and strategies from early 2021.<\/p>\n

    The GOOD NEWS is that you can STILL capture some of the appreciation that everyone is expecting to see again this year. There was just an article in the Austin Business Journal that we may getting ANOTHER semi-conductor manufacturer to make the move out to the Austin area… And companies continue to pour into the Austin area.<\/p>\n

    New construction simply can’t keep up with the buyer demand. Builds are taking longer than ever to complete, prices are increasing mid contract, and some builders are even terminating contracts for buyers prior to closing!<\/p>\n

    So, what does that mean for YOU!<\/strong><\/p>\n

    Buying A Home in 2022:<\/h4>\n
      \n
    1. \"BuyingThe sooner the better! The lower the interest rates are, the higher your buying power is. For example, on a $500,000 purchase, your principal and interest would be in the ballpark of $2100 at 3%. At 4%, that jumps to ALMOST $2400\/month. (While we have no idea whether rates will hit – or exceed- 4%, we do know that the higher the rate, the lower your borrowing power is)<\/li>\n<\/ol>\n
        \n
      1. It’s more important than ever to have your MUST HAVES dialed in. When the right property comes across, we won’t have a lot of time to take action.<\/li>\n<\/ol>\n
          \n
        1. You’ll want to be clear on strategy. There are a lot of moving parts in a contract and, as the saying goes, little hinges swing big doors! So it’s important to be creative with the terms to win deals!<\/li>\n<\/ol>\n
            \n
          1. Creativity is critical! One THIRD of all of my buyers in 2021 were off market properties! And with nearly 20 years experience investing (and almost ALL of our deals being off-market, I’ve gotten pretty good at finding these!) We just need a clear plan! I am, unfortunately, limited in how many of these campaigns we can execute at any given time, so if you’re interested in something like this…<\/li>\n<\/ol>\n

            Schedule a strategy session here<\/a>.<\/p>\n

            SELLERS:<\/h4>\n

            \"Sellers\"I know a lot of homeowners felt like they “missed the boat” on the boom and they lost the opportunity to cash in on a substantial profit! The good news is… it looks like you might just have a short window to get back in on it! So, if you’ve been tossing the idea of selling around, then:<\/p>\n

              \n
            1. Let’s see what your house might be worth today, on the open market \ud83d\ude09 (And take sources like Zillow with a grain of salt. Remember, they had to abandon their ‘iBuyer’ program because they’d overpaid for too many homes and couldn’t sell them AND the zestimate was off on the former CEOs house two times, back to back… One time, by nearly $8M!)<\/li>\n<\/ol>\n
                \n
              1. Discuss a gameplan that makes sense. There are SO many options here that it’s near impossible to send them in a single email!<\/li>\n<\/ol>\n

                One GOOD BIT OF NEWS… “They” (aka Congress) DID NOT eliminate the $250k\/$500k rule! In other words, if you make $250K profit as a single person or $500K as a married couple and the home has been your primary residence for two of hte past 5 years, that profit is tax free! **<\/p>\n

                ** Always talk to your accountant or tax attorney regarding your own personal situation!<\/p>\n

                Request your market analysis here.<\/a><\/p>\n

                INVESTING:<\/h4>\n

                \"StateReal estate is one of the best investments to hedge against inflation and to secure your retirement!<\/p>\n

                I’ve been investing for nearly 20 years (yes, I started when I was 9! hahaha)… But all joking aside! I have been involved in virtually every kind of investment opportunity – and have trained and coached investors across the country!<\/p>\n

                Vacant land… Single family flips… Single family\/multi family rentals… condo conversions, vacation rentals, apartment complexes, storage units, foreclosures, estates, and more!<\/em><\/p>\n

                So, if you’re wanting to get started with investment real estate, then you’ll definitely want to get on the sub groups for investment opportunities for off market deals!<\/p>\n

                If you have any questions about the state of the market, just shoot me an email and I can send you over a short questionnaire!<\/p>\n","protected":false},"excerpt":{"rendered":"

                I can hardly believe it’s 2022 already… I know time seems to go faster with each passing year, but boy… 2021…<\/p>\n","protected":false},"author":1,"featured_media":2287,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[49,54,57,24,56],"tags":[26,47,37,58,43,53,45,44,46],"yoast_head":"\nState of the Market... - heathertankersley<\/title>\n<meta name=\"description\" content=\"I'll be doing a recap of the state of the market, economy, etc. once we've gotten all of the final 2021 data in a few weeks.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/heathertankersley.com\/blog\/state-of-the-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State of the Market... - 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