What a great property and private setting.  Fabulous custom built home in a picture perfect setting.  Finely appointed and high end 5 bedroom, 3 1/2 bathroom stone & hard plank colonial built by Duerbeck Building.  Superb floor plan.  Large state of the art gourmet kitchen with updated Stainless Steel appliances, granite countertops, warming drawer, island, eat in area/breakfast room.  A dramatic 2 story family room with hardwood flooring, stone fireplace & coffered ceiling.  Main level primary bedroom that has a tray ceilings, crown molding and large separate walk in closets.  Primary bathroom has granite countertops, separate vanities, soaking tub and shower.  And much, much more!!! Home is situated in the back of a small 12 lot community of Three…

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2022 market review and 2023 predictions

Source: Bright MLS

 

 

2022 Unusual Market Year 

 

2022 saw two markets. The first half of the year was “frenzied”  with homes selling quickly, historic low inventory and rising home prices.

The second half of the year was “frozen”. Prices and activity fell sharply due to rising mortgage rates, high inflation and affordability challenges

 

Mortgage rate surge at end of 2022 average 30 year fixed rate was 6.42% down from 7.08% but double what they had been in 2021. This raise eroded homebuyers purchasing power, making many people decide to wait it out. 

 

Watch out for falling prices!

Prices were up 6.2% in the beginning of 2022 due to the tail end of sub 3 mortgages. By the…

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