Gardi, Haught, Fischer & Bhosale LTD.

The Rollercoaster that We Call the Real Estate Market

By Gardi, Haught, Fischer & Bhosale LTD
December 8, 2022
Real Estate Market

By Thomas Haught

Is real estate still hot, or not? Are current real estate trends good, bad or somewhere in between? 

At the beginning of the COVID-19 pandemic, the general assumption was that the real estate market was going to suffer. That did NOT happen. Instead, we saw one of the strongest real estate markets (if you were a seller) in generations. Interest rates were lower than at any time in history, and outdoor and home office space suddenly became important. But low inventory meant serious bidding wars. Any local realtor can tell you of listings hitting the market at breakfast time and the seller sifting through dozens of competing offers before lunch. 

The potential problem with that frenzy? Buyer regret. Buyers were forced to compete and overpay. Now that the COVID-19 fires have cooled, and interest rates have heated up, buyers are left with that uneasy feeling of living in a home that has a market rate far less than the buyer’s outstanding mortgage. Couple that with a cooling economy and thoughts of the 2008 real estate crash come to mind.

However, Gardi, Haught, Fischer & Bhosale Ltd. does not predict another crash. Before COVID-19, mortgage interest rates were slowly rising. The massive drop in interest rates during COVID-19 was a temporary lifeline to keep at least some sectors of the economy healthy. That benefited both sellers (undoubtedly), as well as buyers (so long as the buyer paid close to the market value). But even current rates are both reasonable and drastically lower than historic highs.

The need for housing is ever-present. Sure, buyers flocked to buy houses when interest rates were 3 percent, but buyers also bought houses when interest rates were in double digits. At the time of writing this blog, interest rates hovered in the mid- to high-6-percent range. In the late 1970s and early 1980s, if you told someone they could get a mortgage at 6 percent, they would laugh you out of the room.  While there is always a lag on buyer expectations on how much it costs to purchase a home, that paradigm has never failed to shift.

If you have questions related to buying real estate, contact the lawyers at Gardi, Haught, Fischer & Bhosale Ltd. for guidance by requesting a free case evaluation button below.

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I worked with Ann Fischer, not once but twice for my family's immigration visa needs. Both the experiences were immaculate. For those who may want services, I would encourage you if you are in need of the best in class, hasslefree and quality services.I could not have asked for anything better.Thank You Ann Fischer (Gardi, Haught, Fischer, & Bhosale LTD). You were fantastic on both the immigrant visa applications (2021-2023) & (2023-2025).When I started the search, I narrowed down between three immigration attorneys and I am glad I crossed path with the best in their domain.Below is how my experience was in each bracketQuality of Service * * * * * (5/5)Responsiveness * * * * * (5/5)Approachable * * * * * (5/5)Explanation * * * * * (5/5)Timeliness * * * * * (5/5)Consultative * * * * * (5/5)Peace of Mind * * * * * (5/5)I will definitely recommend anyone, looking for their immigration needs.
Gardi, Haught, Fischer & Bhosale represented us in a recent R/E closing. Everything went very smoothly between the back office & the other parties. We were informed & the whole process was made simple. I would recommend this firm for all your R/E transactions. 10 out of 10.
Took the time to answer my questions
Our team partnered with Gardi, Haught, Fischer, & Bhosale LTD. on a recent transaction, and we appreciated their dedication and professional approach to closing the deal. We’re looking forward to more successful collaborations ahead
We just had great experience with Tom Haught and his paralegal Courtney Kropf. The communication is clear and fast. All emails were replied within 30 minutes. We will definitely work with Tom Haught again.
Was recommended to them from my company. They did an excellent job and always answered all my questions. Were always upfront with all things and made sure I understood everything that was explained to me.
We used the law firm during the sale of our house. We dealt with Mr Haught and Courtney, who made the process very smooth. They were professional, yet very friendly to deal with.I would not hesitate to recommend them to my family and friends.
We have used Tom Haught for two home purchases and one sale over the years and continue to be impressed by his professionalism, responsiveness, and thoroughness. Reasonable pricing too. Highly, highly recommended.
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