Stefan Borghi

To say that 2020 was pretty rough would be an understatement. Here's hoping we make it out of 2021! Happy New Year!

"A study by Collateral Analytics...found the difference in price between a FSBO and an agent-listed home was an average of 6%."

"Annual median home prices are expected to increase by 8% in 2021, then by 2022 will increase by 5.5%. Mortgage rates are expected to increase too the average annual 30-year fixed mortgage rates will be 3% and 3.25% for 2021 and 2022, respectively."

I think the decline in mortgage applications has more to do with the holidays coming up, but I've also been seeing some sellers getting a little too greedy with their prices. It's tricky to navigate the murky waters of the real estate market during this strange time, so it is of paramount importance to have a rockstar Realtor by your side.

Even the "experts" can't say with any certainty what the housing market will be like in 2021. I believe we're going to see more of the same. If you'd like to know what this means for you as a seller or buyer, connect with me to have a conversation about your future!

This year has been difficult for many of us, but there is still so much to be thankful for. Wishing you and your loved ones a Happy Thanksgiving!

"Former Fannie Mae chief credit officer Ed Pinto told Fortune magazine in October 2020 that prices will continue to rise for another six months to a year." Supply remains low while demand continues to grow, so home prices will continue to be high. Great news for sellers, not so great for buyers (even though interest rates remain historically low).