Real Estate Matters
By Elisa Jo Eagan
As we enter 2023 with our goals and New Year’s resolutions, we are keeping warm and toasty in the cold weather with an exciting football season coming to a dramatic close.
With the grand finale of our own Eagles securing the National Football Conference Championship and now going on to the Super Bowl, this brings us hope as we are one step closer to spring.
The weather may be cold outside, but the real estate market is at least warm, and in many cases, hot.
When assessing whether to put your home on the market, many believe and statistics show, that springtime is the best time to get your plan into action to get ahead of the game.
Real estate is often compared to a sporting event. We are now in the “first quarter of the game,” and the first quarter of the year.
The dynamics of the market are always changing. Currently, the local housing inventory in the areas of Northfield, Linwood, Somers Point, Egg Harbor Township, Mays Landing – all Mainland communities, and Ventnor, Margate, Longport – all shore communities of Atlantic County and in Ocean City, Upper Township and in the surrounding areas in Cape May County, we are experiencing an inventory shortage. “Slim Pickens – high demand and low inventory.”
Now is the time to optimize the sale price of your home. There are buyers that are ready, willing, able, qualified and waiting on the sidelines to purchase, and will pay you top dollar for your home. The fact is if you want to cash in, now is the time.
Be mindful, the dynamics of the real estate market are always changing, and even though the interest rates have risen since this time last year in 2022, the interest rates are now settling down as we enter this new year.
Economic indicators for 2023 remain strong and will get reviewed each quarter when the Federal Reserve meets.
With the recent stock market changes, interest rates on the 30-year fixed mortgages, even though higher, are still overall in the historically low category.
There are still many incentives and first-time home buyer loan programs and grant moneys that are available, to qualified buyers, as well as 100 percent financing for qualified veterans.
Area monthly rent prices have escalated and are in many cases, higher than your monthly mortgage payment will be, so it is time to get preapproved for your mortgage before the perfect home comes up for sale on the market. You want to be ready.
Once the Super Bowl has ended, the official kick off to the spring real estate market begins.
This February and spring market is heating up and the first quarter is strong. Even though we may get some snow on the ground, real estate is alive and well. Now is the time to buy or sell.
Ask the Real Estate Godmother to help you and to be on your team to get you to the Finish Line to achieve your real estate goals.
Congratulations to our own 177th Fighter Wing for the awesome flyover at this week’s game. Thank you for your service!
Go Eagles and Fly Eagles Fly!
Much love to everyone this Valentine’s Day. Love one another.
With hugs, love and warm regards…
For More Real Estate Questions, Information and Advice Contact Elisa Jo Eagan “The Real Estate Godmother” (609)703-0432 and Remember…”There’s No Place Like Owning Your Own Home!”
