THREE GOOD SIGNS

Nice numbers for buyers and agents

December 01, 2023

Edition #11

WELCOME

This Sunday is National Roof Over Your Head Day. And while you won’t find a gaudy store display or Mariah Carey song dedicated to this lesser-known holiday, it’s still one worth reflecting on. 

Whether you’re an agent, an investor, or a real estate enthusiast, something keeps you coming back for more—even when the market throws 2008, 2020, and 2023 your way. What keeps you going? Hit reply and tell us your story.

Keep reading for:

  • Positive signs. Late-season buyers are in luck.

  • New news. Keep up with the market in minutes a week with Real Estate Report. 

  • Negotiations. Land more listings (and commissions) with this smart move.

SHARPEN YOUR SKILLS

 🔊Today’s Top Podcast Rec:

For real estate pros, social media is both an art and a science. Learn the strategies and content structure real estate broker and social media expert Ricky Carruth uses to generate thousands of views, clicks, comments, and inbound leads in this in-depth interview.

MARKETS

There’s ‘snow’ place like a new home

For buyers willing to brave the cold earlier this month, persistence paid off big time. According to Redfin’s weekly market data, just about everything that could go right for buyers in search of home, affordable home, did:

  • Last week, the average 30-year fixed mortgage rate fell to 7.29%—down from a two-decade high of 7.79% just a month ago.

  • That lower rate pushed the average mortgage payment down over $100, giving buyers a bit more room in their budgets, and fueling a 4% jump in purchase applications.

  • On top of that activity, new listings are up 5.2% year over year, marking the most significant jump since 2021, with nearly 74,000 new listings added to MLSs across the country. 

For agents and brokers, these next few weeks are critical. A late-year push while the home-search stars are aligned can set you up for a strong 2024. But with prices still on the rise, January may prove to be a tough month for the industry. 

Mariposa Manor

Why settle for one luxury Moroccan manor when you can have two sophisticated estates, situated on 40 sprawling acres? Each Spanish-style home features a spacious living area, gourmet kitchen, seamless indoor-outdoor integration, and rooftop decks overlooking the Santa Ynez mountains. Tap to see the 75’ lap pool and cultivated courtyards surrounding today’s featured listing.

estate-elegance.beehiiv.com/p/mariposa-manor

WHAT’S NEW FROM ESTATE MEDIA

Knowledge is the name of the game

In real estate, what you know matters just as much as who you know. Enter: Real Estate Report—your weekly deep-dive into housing news, breaking headlines, career-shifting stories, and market data. Watch Scott break down the biggest need-to-know industry updates, then subscribe to never miss an episode.

MORE FROM ESTATE MEDIA

Our full lineup of real estate reads:

WAS the Newsletter comes out today! Explore design advice and inspiration with interior designer Paige Wassel. Subscribe for your weekly dose by clicking the link now, you won’t regret it!

The Glennda Gazette. Real estate, real life, in real time. 

Zillowtastrophes. Unique, weird, and wild real estate.

Estate Elegance. Your daily dive into luxury real estate. 

REC ROUNDUP

The Friday Five

📖 Turnkey trends. 2023’s top home remodels and upgrades, according to Thumbtack. 

📖 AI realtor. How a New York real estate team is putting “Maya” to work. 

👀 Circa 1896. Explore a gilded-age time capsule, yours for just $56M. 

💡Beware of disrepair. Glennda’s advice for first-time buyers touring run-down homes. 

💡Making millions. How to negotiate your commission—and land the listing.

Before we go…

📣 WANT TO REACH 20K+ REAL ESTATE PROFESSIONALS RIGHT IN THEIR INBOX?

Promote your brand with Estate Weekly and get noticed by the leading professionals in the real estate industry. Our subscribers include high-income decision-makers, investors, and key players in the real estate sector. For more information, please email [email protected].

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