Cherise sits down with Bill McAfee to talk about the economics of today’s housing market in comparison to the last few years. They touch on November’s real estate stats in El Paso County, interest rates in the short- and long-term, and the recent decrease in inflation.

Bill gives helpful advice on how a real estate agent should handle deals of trust for residential, commercial, and vacant lots. Cherise and Bill then discuss sustainability in the current market, and upcoming home buying opportunities. Listen to this episode to gain valuable insight into the economic standing of El Paso County and the US as a whole, and to hear crucial advice for our real estate market going into 2023!

Podcast Highlights

0:00    Introduction Bill McAfee and Cherise Selley
0:47    November Real Estate Stats for El Paso County
1:55    Start of the Year vs. End of the Year Stats
3:01    Current Home Mortgage Interest Rates
3:25    Why Are Interest Rates Going Down?
3:45    Short-Term Rates vs. Long-Term Rates
5:40    Rise in Short-Term Interest Rates, A Slowing Economy, Falling Inflation
6:20    Inflation Takes Care of Itself
6:58    Current Inventory and Sold Listings
7:50    Household Income vs. Average Home Price in El Paso County
9:00    Home Prices at a High Right Now, will Soften Over Time
9:15    Who Should Prepare a Deed of Trust?
10:30  Deeds of Trust on Vacant Lots and Commercial vs. Residential Properties
11:20  The New Normal in the Real Estate Industry, Still a Seller’s Market
12:15  A Price to Pay for Sustainability
12:40  A Difficult Market to Pin Down
13:20  Coming Back to a More Normal Market
13:28  Some Opportunities Coming Up for Buyers
13:58  More of This Conversation to Come in Next Week’s Episode!

Cherise Selley and the Group talk about what it takes for buyers and sellers to succeed in a complicated real estate market both in Colorado Springs, and in other locations across the country. Subscribe and hit the notification bell for updates on weekly episodes where we discuss what it really takes to succeed in real estate!

Although we’re based in Colorado, selling Colorado Springs Home for Sale, our experience can benefit buyers and sellers, and real estate professionals nationwide.

The Real Estate Show is available on Spotify, iTunes, and on YouTube! Looking to learn more about us? Follow along with Selley Group Real Estate online!

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