2022 has been an exciting year for many of us, sad for some, difficult for others. For me it was mixed, with real estate being…interesting. For ElderMove Alliance 2023 was a banner year because we added new members including Maggie Wong! It’s been great to have a partner in all this again!
In real estate it’s been a fascinating year. We saw three distinct markets in the last 12 months. Prices zoomed upwards from January to May in an unsustainable sellers’ market. Over the rest of the summer, we settled back into a much more balanced market. By the fall, the market had reverted back to the prices of fall 2021 – which were already high. If you’re thinking of selling, that’s great news! While you may not have multiple offers or set a record for your neighborhood, you’ll make a huge profit for your home even in today’s market. Remember what you paid for your home when you bought it years or even decades ago?
Interest rates for 30 year conventional loans are down to 6% as I write this, down from around 7% just a couple of weeks ago. They are expected to fall more next year as we come out of the inflationary period that the FED has been fighting. Lower interest rates will certainly bring more buyers to the table next year, and the market should continue to stabilize or improve in 2023.
Which brings us to what you are planning for 2023! Is it time to find a different lifestyle in a new home? Do you want to have friends nearby for lunch and interesting activities in place to keep you busy? Are you sick of yardwork, housework and cooking? Maybe it’s time for a smaller home without stairs. If so, ElderMove Alliance has experts in place to help you get where you want to go.
If you’re staying right where you are, what issues are standing in the way of your staying put for the long term? Do you need a more efficient and organized kitchen? Do you need to declutter? Get your finances and estate paperwork organized? Do you need to find care to help you stay in your home and to calm the fears of your relatives about your being alone? Do you need to figure out how to use the equity in your home to pay for these things? ElderMove Alliance has the experts in place to help you age in place to help you achieve your goals. Do you have questions, or want to discuss options? Give Mindy or Maggie a call any time!