September's Housing Report

Topics:
Buyers HAVE negotiation power!
MORE Inventory to select from
It's a GOOD time to buy (avoid rising interest rates)
Let's review the September 2022 Housing Report.
Contact Information:
Brendan Sanford
[phone]
Keller Williams Realty
[e-mail]
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Facebook: / austinhomeow. .
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As a licensed Realtor in the Austin Metro Area, Brendan is committed to listening to his clients' needs and utilizing his keen negotiating skills to ensure a successful transaction. He strives to educate his clients, whether it be navigating the way for first-timers, assisting in market shifts for resale, or helping families relocate from out-of-state, he knows and has experienced it all.
Over the years Brendan has sold over $110 Million in Real Estate and has received multiple awards in the industry. 2022: Quadruple Gold Medallion Status, #2 Realtor in Keller Williams NW with 18 Million Sold in Real Estate, #1 Realtor in the Keller Mortgage Program (saving $135,000 in fees for clients), 2021: #2 Realtor in Keller Williams NW. 2020: Top 3.5% of all Real Estate agents and awarded the 2020 Platinum Top 50 Top 500 Realtor in Austin. In 2019, he was awarded "10 Best Real Estate Agents - Exceptional and Outstanding Client Service" by the American Institute to Real Estate Agents. In 2016 & 2015, he was recognized as a top producer and presented with the Master Ruby award for his commitment to extraordinary client satisfaction. Along with his other achievements, he has received the 2015 Top Leadership Producer, 2015 Top 100 REALTOR in Q1, and 2014 Silver Eagle Sales Award.
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DISCLAIMER- This video was made for educational purposes only. The suggestions, advice, guidance, and/or opinions that are given by Brendan Sanford at Keller Williams Realty are simply opinions. There are no guarantees of set outcomes and this video does not consent to a client relationship. Listeners, guests, customers, and attendees are advised to always consult with their attorneys, accountants, and other licensed professionals regarding a real estate transaction in Texas. Listeners, guests, customers, and attendees are to hold Brendan Sanford and Keller Williams Realty brand harmless from any liabilities and claims.

[@joylidia]

Good data. But you didn’t speak about what is going to happen in 2023. It will be surely 35% to 40% price drop from pick of this May by end of next year or early 2024.

[@Brendansanfordrealtor]

Hi Joyjit, I've not seen data to support a 35% to 40% price drop. In the last six recessions, there have only been two times home values depreciated. Out of those two periods of time, we saw a large % drop and that was in 2008. It's highly improbable to see this occur again. It's more likely we will see a slight reduction in price for 2023 and begin to increase in mid-2024. Many factors are in play.

[@joylidia]

Hi @@Brendansanfordrealtor, i wish for the same. but, honestly my data indicates this time the recession could be the same as 2008 or even worst. Also, I believe it will happen a lot faster than in 2008. but I agree with one point of yours that from mid-2024 things will mostly get normal. Let's see what happens. lots of uncertainties. lot many factors can impact US economy and as well as global economy very rapidly. Believe me, I wish nothing goes wrong and people don't suffer. but in the last 5 months, the Price dropped more than speculated. I sold my home in March and got heavy benefits and moved to an Apartment. I will purchase the home again when it goes bottom. and so far all my prediction is right. we will circle back after 6 to 8 months. hope I will be wrong.