In early October 2023, the typical 30-year fixed mortgage rate stood at 7.49%, as reported by Freddie Mac. These interest rates are higher than what we’ve seen in over twenty years. Despite the Federal Reserve’s decision to hold off on raising the federal funds rate in September, some experts anticipate that mortgage rates will likely remain above 6% for the rest of 2023. In addition to increasing mortgage rates, home prices are still on the rise. The Case-Shiller U.S. National Home Price NSA Index indicates that real estate prices have continued climbing over the past several months. August 2023 marked a milestone with the median existing-home sale price hitting a record high of $407,700, as reported by the National Association of Realtors (NAR). New construction homes commanded even higher prices, with a median sale price of $430,000 in August 2023, according to the National Association of Homebuilders (NAHB). I specialize in Investment Real Estate. I have been licensed and actively investing for over 40 years. I was the co-founder and broker of Investment Realty, Inc and I was a Commercial Realtor with Real Estate World of Florida, selling businesses, multi-family and commercial real estate. Work that we did with Danto Builders was awarded the Ft Lauderdale Historic Renovation Award, see just below.
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