Whitelaw and Sons Real Estate Morgan Hill
reaching your real estate goals
Robert Whitelaw, Realtor®

Robert Whitelaw, Realtor®

Published:Sep 26, 2022

Born and raised in Silicon Valley, Robert has helped clients successfully buy, sell and invest in real estate throughout Santa Clara County. Robert uses his local market knowledge to help clients across Silicon Valley!

Fannie Mae has predicted a recession in 2023 – but still tries to put the best spin possible on it.

They need to read their own release.

The best part of this story actually comes from the Fannie Mae posting linked below and here. While they very softly suggest that a recession is likely, once you actually read through their post, all the data sure does convince me that not only are we IN a recession already, but that things will just get worse.

Housing Starts.

On the upside, builders appear to be adapting to the new reality.

The national numbers.

We also discuss some national real estate numbers. Our local market numbers in Silicon Valley are actually worse.

Mortgage demand increases.

Not only was there an uptick in mortgages, but refinances also were up. When you think through why someone would refinance and realize that just about everyone who would do that right now would be getting a WORSE rate than they currently have. We theorize on why that might be happening.

Rates hit 14 year highs.

At 6.7%, rates are reaching new heights with no end in sight.

Mortgage payments have risen ridiculously.

With mortgage payments up over 50%, this could cause some contributing factors to an upcoming decline.

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NAR Settlement – For Buyers and Sellers

The NAR settlement, once it is approved, is set to go into effect in the middle of July 2024. This will completely change how Buyers agent are compensated and we can count on chaos while the systems adjust to the new reality.

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Just enter your address and get access to your instant home value estimate, but also amazing tools to evaluate refinance options, your equity, ways to levarage your homes equity, how to pay your home off faster… and so much more!

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