Will 2024 be an easier year for home buyers and sellers than 2023? That is a question that seems to be on buyers’ and sellers’ minds these days.
Hi, I’m Tanja Odzak, eXp Realty, and I help people sell and buy homes here in the East Bay.
I think we all can agree last year was a difficult market for both buyers and sellers who felt stuck with the market conditions. So, let’s break it down for 2024.
Will we see the Feds continue to raise mortgage Rates? Well, that will depend on how inflation trends and what the Feds opt to do about it. All indicators are pointing to inflation cooling and the Fed cutting rates, leading to lower borrowing costs for buyers. But, we will not see 3% mortgage rates in 2024!
What about inventory? Inventory is expected to be a little sluggish in the first couple of months of this year but then we can expect to see more inventory as we move into Spring creating more options for buyers.
What about affordability? First-time homebuyers will continue to face challenges but there will be some bright spots. The record high income required to purchase that we saw in 2023 is expected to decline as mortgage rates ease, and home prices soften in some areas. Sellers who are planning to sell and then re-purchase will benefit from their home equity and lower rates, as well as softened home prices in some areas on their replacement home when it comes to affordability.
So as a homebuyer, how can you prepare to purchase this year? Align yourself with an excellent Realtor, like myself! I’m an East Bay expert and I’ll help you navigate the market. I’ll also help you get paired up with a great lender to help you get financially ready.
If you’re a Seller preparing to sell this year, you need me! I’m your East Bay Expert. As a seasoned Realtor, I can provide you the latest market stats to help you price your property competitively, and while other agents just market your house to the neighborhood, I’ll actually market your home to the East Bay and San Francisco! (just like I’m doing right now with this video).
Call me and let’s just talk about it. I’d love to help you make an informed decision and strategic moves in our East Bay real estate market, whether that’s selling or buying or both!
And ask me about my home selling plans.. I took the pain out of negotiating with a Realtor and made it SUPER simple. Really! Choose Silver, Gold, or Platinum- Pick your Plan and Pick your Price. Terms do apply. I’m Tanja and I sell homes. Let’s get you going, Call me today!
I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit.
Why not check out one of my no-obligation, online, On-Demand, virtual Real Estate Seminars?