Let’s dive into the hot topic of 2024 real estate trends
"Get ready for the inside scoop! Let's dive into the hot topic of 2024 real estate trends: Will the market favor buyers or sellers? Our expert panel weighs in!"
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Let’s dive into the hot topic of 2024 real estate trends

Buckle up, stay savvy, and remember: in the game of homes, the only certainty is uncertainty.

Let’s dive into the hot topic of 2024 real estate trends

Posted by Frank Gomez in Real Estate 29 Feb 2024

Long Island, N.Y. – The real estate rollercoaster is back in action, folks! Strap yourselves in as we navigate through the twists and turns of the Tri-State Area’s housing market.

With mortgage interest rates taking a slight dip, home buyers are dusting off their wallets and diving back into the fray. But hold your horses – what’s in store for the upcoming New Year? Will it be a buyers’ bonanza or a sellers’ showdown? Buckle up, because the experts say it could be a wild ride.

“If you’re thinking about selling your home, this is absolutely the time to do it,” advises Mike Mclean, the smooth-talking real estate guru over at Signature Premier Properties. Despite interest rates lingering higher than a giraffe’s eye, Mclean predicts that 2024 will still be a sellers’ paradise.

“The buzz that we’ve been hearing for the last several years is going to keep buzzing,” Mclean assures us. And why? Well, according to the National Association of Realtors, the home prices are still soaring like a hot air balloon, thanks to the scarcity of inventory. It’s a seller’s dream and a buyer’s nightmare.

But wait, there’s more! Many homeowners, having already locked in those historically low interest rates through refinancing, are reluctant to let go of their prized possessions. “A lot of people are on the fence right now,” Mclean chuckles. “I think a big part of that is because, once you sell, where am I going to go?”

Fear not, dear home hunters, for there’s a glimmer of hope on the horizon. With Gov. Kathy Hochul’s executive orders in July aimed at boosting housing supply, new homes might soon hit the market, cooling down the red-hot demand.

But hold onto your hats, folks – the plot thickens! Jason T. Reddish, the bold CEO of Total Merchant Resources, predicts a seismic shift on the horizon. “It’s going to be very hard to predict when that rubber band or that slingshot snaps, but it’s going to, and I predict it will happen in 2024,” Reddish declares.

As interest rates waltz to their own beat, buyers may find themselves caught in a catch-22. Do you dive into the housing market early, snagging a bargain but enduring a pricier interest rate? Or do you bide your time, hoping for more options but facing a steeper price tag?

According to Reddish, the answer is crystal clear: “Are you going to rent, and pay your landlord’s mortgage?” he challenges.

And let’s not forget about the OGs of the housing game – the seasoned veterans with pockets deeper than the Mariana Trench. They’ll continue to sway the market in 2024, leaving their mark on every bidding war and housing deal in sight.

So, there you have it, folks – the real estate saga of 2024 unfolds before our eyes. Buckle up, stay savvy, and remember: in the game of homes, the only certainty is uncertainty.

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