Dear Friends,
Thanksgiving is my favorite holiday. I strive to live in abundance, dwell in possibility, and all that jazz, but nothing is quite as concretely abundant as a table full of more delicious food than anyone could eat in a week (not counting dessert). I also have the extreme joy and privilege of being in a beautiful home, with happy, healthy children, and surrounded by friends. Like I said; Favorite day. I hope you all had a joy-filled holiday and ate until you were only slightly uncomfortably full.
As we come into the end of the year, people understandably turn their eyes inward, busy with holiday parties (or griefs), and away from thoughts of moving. That is why I call it my favorite buyer’s season- because there is less competition and any house that is on the market is ready to make a deal. And joy of joys, interest rates have dipped for the second consecutive month. Seize the opportunity dear buyers, and snatch up a year-end deal.
If you are getting ready to sell your home, this is the perfect time to be doing the prep work to get it ready for a January listing. Take this opportunity to start packing and giving things away; re-gifting is cool, hand-me-downs make great gifts, and charities need all the things you don’t want anymore. Consider putting the finishing touches on improvements. Contractors are less busy and usually looking to add one more project to their slate and if you act quickly, your house will look amazing for your holiday party. If you are not confident about what needs to be done prior to sale, please call me. I’m in town and very happy to come by and give you my thoughts on what improvements will bring you the most profits from your sale.
Speaking of being in town- Many of you replied to my last email distressed because I said I was leaving LA when my youngest goes to college. Fret not! My youngest is in 8th grade so I’m here for at least another 8 years 🙂 During that time, I plan on increasing my passive income through investments (happy to help you do the same). I also plan on exploring the world more (I’ve been stuck at home too long). If you have a city you love, please share it with me. I am open to all suggestions!
Real Estate Roundup:
Interest Rates: Mortgage rates are down for the 2nd consecutive month. I do wish the media would stop calling them “extremely high” etc. According to Freddie Mac records dating back to 1971, the long-term average for mortgage rates is just under 8% (with well qualified buyers paying less than the average). So we’re now “well below” the average rate!
There is a way to capitalize on any market. November and December are the seasonally “slow” months. Buyers can capitalize on less competition and motivated sellers. Sellers- if you must sell by the end of the year, give it your A-game. You can still get top dollar if you are able to create an emotional response in the buyers and get multiple offers. Whether you are a buyer or seller, please let me know if I can help.
Wishing you all joy and light this Holiday season. Let there be peace.
Until next year,
Emily