Property Dynamics, LLC
What's next for the US housing market - Today's Insight for tomorrow's future.
Real Estate Professionals
As we end the 1st Month of the 2024 real estate market a continued pattern of the shortage of listing inventory still hangs over most of the country. Let the professionals at Property Dynamics make your real estate needs become a reality. The time is right to sell or buy your dream property!
Contact Erin Waldron today to discuss the dynamics of your real estate needs.
262.490.0670
#MoveForward #PropertyDynamics
April 3, 2024
It's proven to be another challenging first quarter of 2024 in the real estate market. Property values are still strong, and inventory levels in most of lake country remain tight.
With this everchanging dynamic environment, I am reaching out to my followers as a many friends and clients are wondering where the real estate market is headed for the remainder of 2024 and onward. As a home owner/lake property owner, I am happy to provide some insight.
I am not only a certified real estate appraiser, but an independent broker as well. Since just before the pandemic in 2020, we've not only experienced record rates of appreciation, but some of the tightest inventory levels with buyer and seller dynamics shifting to what's essentially been a seller's market.
Interest rates continue to remain around 7% to which my response to first time buyers is "seven is the new normal", and don't expect any big change in rates anytime soon. This theory is playing out as the start of April and the Spring Market begins. However, the coming week's financial reports including unemployment, inflation, other global economic factors as well as political influences will set the path for what lies ahead. That said, the numbers are still supporting real estate investment in lake country. Weather first time buyer, or downsizer, don't let the current state of the economy stop you from moving forward
If you look at the past 4 years, the rate of appreciation has been exceptionally beneficial to many sellers. Some property values, especially ones with lake frontage, have more than doubled from before the pandemic in 2020. Currently this trend is still being felt in many instances, however, with a bit of hesitation in some cases, and not as strong overall as last year.
The lake country will continue to dominate the Waukesha County real estate market with its high ranked schools and endless recreational options including bicycling, golfing, hiking, boating, kayaking, paddle boarding, fishing and more. Expect to see seller's gaining top dollar for their listings until inventory levels regain traction, and there are more listings available to buyers.
If you are interested in an appraisal of your property, or thinking of selling, we are ready to assist and provide you with the most accurate up to date valuation with no obligation. Seller's who have one party deals are happily finding out that having an appraisal reflecting today's market value is critical in gaining top dollar for your property. Don't hesitate to let the experts at Appraisal Specialists, Inc. and Property Dynamics, LLC help. That's what we are here for!
If you have an opportunity to have a one-party listing come together, need assistance, or know someone who might, I can fill that fiduciary role as well. My goal is to meet the wants and needs client(s) to the very best of my capability, given my 25+ years of knowledge and experience in the real estate industry.
There's no guarantee if and when rates will drop. And if they do drop, there will be plenty of pent-up demand, which could lead to more competition and more bidding wars. Weighing the above benefits can help you make the best decision for your needs.
The bottom line? If it's time to move, don't let higher interest rates put your home buying plans on hold.
Feel free to call, text, or email me in order to discuss the dynamics of your real estate goals.
#MoveForward #PropertyDynamics
Member GMAR, NAR, WRA, MLS, Equal Housing, Broker Reciprocity