I hope you are doing well! The school year is well under way as is the football season. The Aspens are starting to change color so make sure you plan a Fall Color Tour in the next week or so. The leaves are already starting to change in Rocky Mountain National Park.
We are getting into the Fall market with many variables impacting how the market is trending. On the positive side, we have lower mortgage interest rates, about 6.15% for a 30-year fixed rate mortgage right now. We also have the ongoing issue of affordability that impacts a lot of would-be home buyers. In this update, I take a look at the data and discuss the impact that these and other variables are having on our housing market.
In other news, the way we do real estate has changed as of August 17th. You may have seen the news headlines regarding the NAR Settlement. There were concerns that there was price fixing in compensation paid to brokers working with buyers and sellers and it resulted in a lawsuit against brokerages and the Multiple Listing Services (this is the online system where we publish your home on the market when we list it for sale). The matter has been settled and it has resulted in rules put out and enforced by the participating Multiple Listing Services. Effectively, it rewrites how real estate brokers, like myself, are compensated for our services. How does this impact home buyers? I discuss this in my video entitled Compensation Agreement. How does this impact home sellers? I discuss this in my video about the Exclusive Right to Sell Listing Contract.
Click here to watch the September 2024 Market Update.
Click here to listen via podcast.
I’m here to serve if you or someone you know is ready to buy or sell a home. I’ll provide my expertise and service to make getting to the closing table a smooth process.
Regards,
Sean
0:00 Introduction
0:15 Mortgage Rates
2:00 NAR Settlement Update
6:00 Charts and Data
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