This is the smokiest summer we've had in the 23 years I've lived here. The smoke in the summers here can be from almost none, to a year like this year. We've had summers where we may have a week with smoke and the rest of the summer clear to this summer and everything in between. Living in the middle of the intermountain West means forest fires in the summer and means we will get smoke - but it totally depends on weather patterns, the wind, if/when/where the forest fires start, etc.. as to weather or not we have smoke that clears out in a day or lingers like it has been. There is no "perfect" place to live, and we have found that all the many, many benefits of living here far outweigh dealing with smoke if it happens to settle in. Like the first Halloween we moved here, it was 17 degrees when we took our 3 year old trick or treating. We thought, what have we done? lol... but that was the coldest it's been on Halloween in all the years we've lived here - some years it's like 65 on Halloween...but , I would much rather deal with the russian roulette of smoke in the summer than tornado or hurricane seasons, crazy high humidity, high property taxes, problems getting home insurance, unsafe places to live....all the things you could get somewhere else. Have faith in your decision to move here and realize that big changes often take a few years to start seeing the benefits.
It’s falling spectacularly in Florida as we speak. It’s falling slowly in phoenix and a bit quicker in Salt Lake City. Nothing in the west is as bad as a Florida. SoCal has peaked and agents down there are saying it looks like price declines are likely as inventory builds. Personally I saw this happen in 2006-2008. It took a while to build steam. I expect prices to continue falling although not as dramatically as in 2008. Unemployment is rising slowly. Mortgage rates actually rose a bit this last week. Fed rate cuts don’t mean lower mortgage rates as they are tied more closely to the 10yr treasury bond. I would be very careful telling your clients that mortgage rates will fall because the fed is starting rate cuts.
Yes things are not as they seem right now for sure. And certainly, I have very frank discussions with all of my clients regarding the volatility of rates, we don't have a crystal ball and cannot predict what may happen with rates and the market next year, and that ultimately, they need to choose to do what is best for them and their personal situations. Most people who purchased this year and would like to refinance understand that they just may need to pay the higher payment for a while, and for their own personal situations, purchasing or selling a home this year was worth it to them.
That would be lovely for home buyers if they would, but just because people's finances are getting stretched to the limit doesn't mean home prices will drop accordingly, unfortunately.
The Fed waited too long to cut interest rates. If we're not already in a recession, it is very likely that we'll be in one as we go forward. Recession means downward pressure on the real estate market in most places. Many analysts don't believe that lower interest rates will pull things up any time soon. The bond market interest rate will determine the real estate interest rate, not the Fed funds rate. Depending on how our continuing preparations for sale of our existing home go, we will probably be looking to buy in the TV during the winter. At least right now, our small market is in a strong seller's market, but we're definitely seeing some cooling. Election chaos could temporarily cause some problems until the swearing in of a new President, and we don't relish the idea of moving to the TV in the winter. We plan to move as soon as we can. We'll tough it out come hell or high water. Tough times never last; tough people do. 💪👊
Yes, tough people last, and we need to be tougher than ever now. If you need to get the heck out of Dodge, then get the heck out of Dodge. I've seen amazing things happen in people's lives when they act on the inspiration to make a huge life change, regardless of what mainstream media or economic outlook by "experts" say. Ultimately you have to do what's best for your family and ignore the external noise.
@@SummerAstonRealEstate Thank you for your reply, Summer. We have a lot of options due to our financial situation being strong right now and into the near future at least. If I told you everything related to our situation, you'd be amazed. There's a lot to it. My family is looking to me to provide leadership for our future. I embrace the challenge and always meet the tough things head on. We have a pretty solid plan right now, but if conditions change, we'll adapt to the change. It's the only way forward. By the grace of God, we'll get through.
What do you think may happen with the housing markets after this November?
I continued to enjoy your videos. So very informative.
Thank you so much! 💗💓💗
CBH just placed a ton of the inventory on the rental market can we look in this trend and what that means ?
It’s likely over inflated prices deterred buyers.
We just bought in Boise. I’m wondering if we Made a mistake with the air quality
This is the smokiest summer we've had in the 23 years I've lived here. The smoke in the summers here can be from almost none, to a year like this year. We've had summers where we may have a week with smoke and the rest of the summer clear to this summer and everything in between. Living in the middle of the intermountain West means forest fires in the summer and means we will get smoke - but it totally depends on weather patterns, the wind, if/when/where the forest fires start, etc.. as to weather or not we have smoke that clears out in a day or lingers like it has been. There is no "perfect" place to live, and we have found that all the many, many benefits of living here far outweigh dealing with smoke if it happens to settle in. Like the first Halloween we moved here, it was 17 degrees when we took our 3 year old trick or treating. We thought, what have we done? lol... but that was the coldest it's been on Halloween in all the years we've lived here - some years it's like 65 on Halloween...but , I would much rather deal with the russian roulette of smoke in the summer than tornado or hurricane seasons, crazy high humidity, high property taxes, problems getting home insurance, unsafe places to live....all the things you could get somewhere else. Have faith in your decision to move here and realize that big changes often take a few years to start seeing the benefits.
@@SummerAstonRealEstate thanks. I appreciate the feedback. It’s too late now anyway. Getting there Saturday 😂
It’s falling spectacularly in Florida as we speak. It’s falling slowly in phoenix and a bit quicker in Salt Lake City. Nothing in the west is as bad as a Florida. SoCal has peaked and agents down there are saying it looks like price declines are likely as inventory builds.
Personally I saw this happen in 2006-2008. It took a while to build steam. I expect prices to continue falling although not as dramatically as in 2008.
Unemployment is rising slowly. Mortgage rates actually rose a bit this last week. Fed rate cuts don’t mean lower mortgage rates as they are tied more closely to the 10yr treasury bond.
I would be very careful telling your clients that mortgage rates will fall because the fed is starting rate cuts.
Well said.
Yes things are not as they seem right now for sure. And certainly, I have very frank discussions with all of my clients regarding the volatility of rates, we don't have a crystal ball and cannot predict what may happen with rates and the market next year, and that ultimately, they need to choose to do what is best for them and their personal situations. Most people who purchased this year and would like to refinance understand that they just may need to pay the higher payment for a while, and for their own personal situations, purchasing or selling a home this year was worth it to them.
Prices,need to drop 30% board
That would be lovely for home buyers if they would, but just because people's finances are getting stretched to the limit doesn't mean home prices will drop accordingly, unfortunately.
The Fed waited too long to cut interest rates. If we're not already in a recession, it is very likely that we'll be in one as we go forward. Recession means downward pressure on the real estate market in most places. Many analysts don't believe that lower interest rates will pull things up any time soon. The bond market interest rate will determine the real estate interest rate, not the Fed funds rate. Depending on how our continuing preparations for sale of our existing home go, we will probably be looking to buy in the TV during the winter. At least right now, our small market is in a strong seller's market, but we're definitely seeing some cooling. Election chaos could temporarily cause some problems until the swearing in of a new President, and we don't relish the idea of moving to the TV in the winter. We plan to move as soon as we can. We'll tough it out come hell or high water. Tough times never last; tough people do. 💪👊
Yes, tough people last, and we need to be tougher than ever now. If you need to get the heck out of Dodge, then get the heck out of Dodge. I've seen amazing things happen in people's lives when they act on the inspiration to make a huge life change, regardless of what mainstream media or economic outlook by "experts" say. Ultimately you have to do what's best for your family and ignore the external noise.
@@SummerAstonRealEstate Thank you for your reply, Summer. We have a lot of options due to our financial situation being strong right now and into the near future at least. If I told you everything related to our situation, you'd be amazed. There's a lot to it. My family is looking to me to provide leadership for our future. I embrace the challenge and always meet the tough things head on. We have a pretty solid plan right now, but if conditions change, we'll adapt to the change. It's the only way forward. By the grace of God, we'll get through.