Hello Friends, The holidays are here again and despite the recent move up in interest rates, my business continues to be brisk. I think the increasing rates are causing some buyers to try and get into properties quickly before the rates move up again.
The next Federal Open Market Committee Meeting, when the Federal Reserve will announce its next interest rate decision, is on December 19th. With three more rate hikes expected in 2019, many potential buyers are doing their best to get into property ASAP, even with the holidays coming! The looming rate hikes, combined with record property values, are also creating a push for existing homeowners to refin ance their existing loans and take cash out for home repairs, debt consolidation, replenishing cash reserves, and setting funds aside to jump into purchasing more property once the market turns. See last month’s update or my blog on my website for my predictions for 2019 and 2020.
all of the tragedy in the world, some as close to home as the Camp Fires in Northern California. The Camp Fires have affected a very dear friend of mine who lost everything that she owned. She and her mother both had their individual homes burn to the ground and fortunately made it out of the fires with their lives. I have set up and contributed to a Go Fund Me page for my friend that can be found at: https://www.gofundme.com/karin-hunt-camp-fire- victim The one advantage I have over the banks is that I can be hands-on with every deal to make sure they are well organized, taking into account the lender and support services limitations. If deals need attention during the holidays I can make the time to personally lead those deals through to closing. My processing staff is also able to work during the holidays on a part-time basis if certain deals need attention.
Even though I think my business will slow down in 2019 to levels as low as the slowest years following the Great Recession, it appears that the first quarter of 2019 will remain busy, at least until the additional Fed rate hikes show up in 2019.
This Holiday Season, let me take a moment to give thanks for the fortune that I have received in my life, especially with
This holiday season I will be even more thankful than usual. Wishing you all a very happy, healthy, and loving holiday season.