It’s hard to believe that 2024 is more than halfway gone. In fact, while summer technically runs well into September, the season is winding down for many of Wisconsin’s students and their families. In other words, the year is moving pretty fast.
With that in mind, we’ve put together a quick list of three words that those of us involved in real estate, plus anyone looking to buy or sell a house this fall, should know. For some added fun, we challenged ourselves to pick words starting with the same letter. Speaking of school, our English teachers would be proud of our alliteration skills.
Without further ado, here is the list of three “R” words everyone should know as we gear up for what we all hope is a busy fall season:
Rates. We’re starting with the obvious one. After months of speculation, it seems like the Federal Reserve might finally be gearing up to cut interest rates next month, which should cause another rate – the mortgage one – to keep falling, too. (Mortgage and interest rates aren’t the same but are intertwined.) In fact, some observers believe two interest rate cuts could happen before 2025, which would be a welcome development for buyers, sellers and our fellow real estate professionals alike.
Right-sizing. You’ve heard about upsizing or downsizing, but a new buzzword is gaining traction: right-sizing. Right-sizing is all about finding a property that suits your current needs and future plans. It’s the idea that a home search should be focused on how functional a space can be for that specific buyer, more than looking for a certain number of bedrooms, bathrooms or square feet.
Refinancing. While it’s closely related to rates, the Focus Title team thought refinancing deserved its own section. If you’re a homeowner who has bought in the last year and a half, keep an eye on those falling rates and to see if refinancing makes good financial sense for you. If you’re a real estate professional, this is a great time to contact past clients and alert them of refi opportunities. Please remember that Focus Title can handle your refi transactions, too.
Of course, we can’t forget about another special “R” word: Realtor. To all our agent friends, thank you for everything you do, especially lately. We know this is a unique time for you, but your dedication to your clients is always unmatched. (If you’re a buyer or seller, partnering with the right Realtor can make all the difference.)
Reach out to the Focus Title team anytime. We love providing our title and closing expertise all year long!