Moving in a real estate market and during a banking collapse
Moving during a real estate market low and during a recent bank collapse can be a difficult decision to make during these times. As we all know of the SVB bank collpase as of Friday March 10, 2023 and then Signature bank of New York. The banking industry is in trouble but it is not the big banks but the small regional banks that bring more concern then the big ones like Wells Fargo, J.P. Morgan and Chase etc. These banks maintain solvency in these times. Banks collapse is most likely due to bad investing as a bank really invests in risky investments in which lately a lot have lost value by over 50%. The banking industry is built on trust by its depositors and investors. A bank is nothing but a place to park your deposits in which the bank keeps only 10% of the deposits and invests into risky ventures like crypto in which some have collapsed as well like recent FTX and a few others have closed. The FDIC is not goverment owned but is a privately owned corporation. the picture doesn’t look that good but at this point it would be best for the consumer to be purchasing Gold and Silver coins and items that are more tanigble at this present time even thou you may lose a little value with tanigble items you will not lose your shirt totally.
Housing market is still low with low inventory and nothing really out there but there are some still hot spots where the market is still booming and with that said the spring flowers are starting to emerge and I wanted to share with you some things what we are seeing even thou homeowners are still holding off moving.
Already 3 months or so into the new year and we are seeing Buyers are active in buying homes and most are for investnent purposes and some second time buyers
Buyers are active. We see homes selling faster in January then in July last year.
Homes are holding their values. The average value of a home is up almost by 2% over last year.
– Mortgage rates are volatile! Rates have whipsawed from 7.3% in November to below 6% in January, to now mid-6%’s heading in to March. With such volatility, it’s best to get your mortgage application in place in advance, so that you can lock in your rate when they hit a point of interest.
These trends are all validating that the market is shifting in to a more balanced and healthy place.
Summary. Now would be the time to sell your present property or rent it out for that extra monthly income because it is something tangible and even thou the value might dip you will not lose your shirt like you will with money by having it in a bank. The property is an income property and whether you are selling or just moving your home furnishings and looking for a dependable and trustworthy mover whom knows how to give you the absolute best moving services let Eastern Connection Movers do your move. Contact us at http://easternconnectionmovers.com for your free moving cost quote today!. We are not a broker nor a franchised moving company but the actual mover that has been in business over 38 years and is 5 star rated.
