Episode 150: Market Update - Will Declining Rates = The Perfect Storm?

As we wrap up 2023 with our final market update🏠, we are excited to have our expert guests and sponsors, Tara Krieg, Anthony Penna, and Joe Smith, join us to discuss the latest market statistics and predictions for next year! Rebecca will kick things off by recapping the predictions made in last year's market update for 2023.🤔 Then, we will delve into the current market stats from the Cromford Report and Anthony will share his insights on consumer views and the current real estate market news. One interesting point we will discuss is why 35% of consumers are hoping for a housing crash🏠💥, and why we still stand by our statement that the best time to buy was yesterday. We will also share why December is the best time to buy a house in general. Plus, we reveal who was right with their predictions from last year's episode! As we close out the year, the real estate market continues to make headlines.📰 Whether you're looking to buy or sell, this episode is packed with valuable information to help you make informed decisions. Plus, we would love to answer any questions you may have, so tune in and let us guide you through the ever-changing world of real estate.😊 Listen & Learn: 0:50 - Rebecca intros Joe, Tara, & Anthony 1:26 - Predictions from the last market update of 2022 for 2023 2:35 - current market stats from the Cromford Report 4:40 - Anthony’s stats on what consumers’ views are in terms of real estate and the current market 8:25 - Why we think 35% of consumers are rooting for a housing crash 10:00 - Why we are still standing by our statement that the best time to buy was yesterday 11:46 - December is the best time to buy a house 13:39 - What is next for mortgage rates? 16:45 - Is there a recession around the corner? 18:51 - Where Arizona is headed in terms of real estate and economy 20:18 - ARMLS Sales Price Forecast Chart 22:04 - Has the rental market softened? 25:04 - Annual Average Home Size Chart explained 27:24 - Listings Under Contract Chart & Cromford Market Index Chart 32:43 - Who Won - The Average Sales Price Prediction?? 34:30 - Do not wait to buy! 38:25 - Joe’s predictions for next year 39:40 - Tara’s predictions for next year 40:00 - Anthony’s predictions for next year 41:20 - Careful using a new home builder’s lender 43:33 - Rebecca’s predictions for next year Special Guests: Anthony Penna - Senior Vice President at Navi Title "There is nothing more satisfying than helping people achieve their goals by providing them with opportunities to excel in their business. It’s an awesome process that I feel very fortunate to be a part of." Navi Title Agency is an Arizona-based full-service title agency. They offer competitive escrow and title solutions complemented by a strong tradition of grassroots standards. Phone: 602-510-8848 Email: [email protected] Website: www.navititle.com/ Joe Smith - Owner/Broker of Epic Mortgage Joe Smith first started in the mortgage business in 2002 as a loan officer. He quickly established himself as a top producer, eventually managing the state of Arizona for a top 10 mortgage lender. After 17yrs in traditional retail banking, working for many top companies in the mortgage business he decided to make a jump to becoming a mortgage broker himself. Currently, Joe is the Broker and Owner at Epic Mortgage and is definitely someone you're gonna want to go to for advice on lending! Phone: 602-741-4121 Email: [email protected] Website: www.myepicloan.com Tara Krieg - Owner of TK Team Lending Licensed to provide mortgages and loan programs for homeowners and buyers within Arizona, she has over 12 years' of experience in all aspects of real estate finance, real estate investing, mortgage planning, and business planning. Phone: 480-344-1951 Email: [email protected] Website: www.tkteam.us Follow us on Facebook or Instagram @GratefulHeart.Tv💖 Listen🎧, Rate🌟, & Subscribe on Spotify & Apple Podcasts