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Why a Slowing Market Does NOT Mean a Market CrashSegment 1Why a Slowing Market Does Not Mean A real Estate CrashBarb, you have mentioned that many people are concerned that we are in a Real Estate Bubble and could face a market correction. Even last week you said the market is slowing a bit. Do you think this will mean lower home prices?People are concerned about another housing bubble. However….The 2007 Housing Crisis Was an AnomalyHousing Crisis & COVID Had a Profound Impact on Housing StartsPikes Peak Market Under $Million Still Showing a Low Supply:But FAR LESS INVENTORY THAN 2019More Sales in 2021 Than 2019 except in prices below $400K#1 Reason Why Its Not a Real Estate Crash#2 Reason NOT a Crash: LOW INTEREST RATES = Low Payments#3 Reason NOT a CRASH: HOUSING AFFORDABILITY – Annual Payment STABLE – Down Payment Higher in SOME Markets Not This OneYou are listening to the Real Estate Voice with myself Barb Schlinker of Your Home Sold Guaranteed Realty, if you are interested in selling your and want to call Barb give her a call at 719 301 3900 We are talking Barb about the signs of a transition from a hot real estate market to a less robust market. Tell is more about THE TOP Reasons A Slowing Market Does NOT indicate a Real Estate CRASH#4 Reason NOT to Worry: INVESTORS BUYING #5 Reason NOT A CRASH: Supply NOT Close to 2007 Levels #6 Reason NOT a Crash: COLORADO Has A Net INCREASE IN Migration Pattern of 7.3%#7: Reason Not a Crash:Rent Rates Increasing Faster Than Mortgage Payments!Average rent 800 SF apartment $1458-$1700!#8: Reason Not a Crash:Foreclosure Moratorium Extended via CFPB!Still TBD: Foreclosure Moratorium ENDED?Foreclosures up nationwide by 60% as compared to last yearMany, many in this market are WithdrawnProcess Takes 5 MonthsIN August: BIDEN Admin Put a New “Loan Servicing Rule” in place through the CFPB that would1. “HOLD OFF MOST FORECLOSURES UNTIL 2022”2. Prevents them from INCREASING Monthly payments for owners emerging from forbearance program3. Prevents them from extending loan term beyond 40 year to prevent delinquency4. Offering better loan modifications#9: Reason Not a Crash:Compared to NON – Covid Years Sales UP & Inventory Down by 50%How to Prepare: BonusBuyers will look at more homesBuyers will be more pickyGetting the Home Show Ready is More Important Than EverOur Service:What to Do to Get ReadyWhat NOT to Do to Get ReadyWhat Your Home Will Sell ForHow Much You Will Put in Your PocketMoving? call us at Barb Schlinker team. Call 719 301 3900 or visit: www.BarbHasTheBuyers.comRichard…NEW SLIDE1. 1) You are listening to the Real Estate Voice with Barb Schlinker of Your Home Sold Guaranteed Realty, if you are thinking of making a move, call Barb at 719 301 3900. 2) When we come back, we will be discussing: Five Keys to Thrive When Selling Your Colorado Springs Area Home2