When you’re looking to buy or sell a home anywhere in the greater Apopka area, you need to find a Realtor with integrity, years of experience, a proven track record of success, and who continuously has their finger on the true pulse of the housing market.
“Rock Springs Realty is here to help homebuyers and those who wish to sell their homes. While housing market trends in the first quarter of 2022 resembled the previous year’s trend, a Buyer’s frenzy, homes selling over the asking price and continued home price appreciation – much has changed over the last few months. The consensus by many experts is that with rising inflation and interest rates, along with out-of-control consumer goods and gas prices, we’re likely to see more buyers rethinking their entry point into a home purchase,” stated Joe Bornstein, Rock Springs Realty Broker/Owner.
“At the beginning of this year, the 30-year fixed-rate mortgage was around 3%. Now, according to Bankrate.com as of May 17, the average rate for a 30-year fixed mortgage has jumped to a staggering 5.57%, the highest in the last 13 years. Economic uncertainty is also causing mortgage rate volatility, and many lenders are predicting we’ll see interest rates at or above 6% by the end of the year. As could be expected, purchase demand is waning as existing home sales fell 8.7% in April in the greater Orlando area, according to the Orlando Regional Realtor Association. Builders are also feeling the pinch of the highest inflation rate in over 40 years as well as continued supply chain issues.
“With home sales under pressure, the parabolic increase in home prices should soon diminish, and we should see modest price declines by mid-next year. With rates now moving quickly higher and affordability and demand being hammered, prices will come under pressure,” state Bornstein.
If you’re on the fence about selling your home or are considering purchasing a home, you need the knowledge and experience of the seasoned Rock Springs Realty team to guide you through all the complexities of the real estate market. You need a team you can trust who will always look out for your best interest.
Rock Springs Realty will take the time to walk you through each step of the process, explain the contract and disclosures, and give you a full understanding of the closing process. They are skilled negotiators who can get you the best deal possible.
Rock Springs Realty is a full-service real estate brokerage offering residential, investment, and commercial services in the Central Florida market since 2008.
They can make it easier to find your new home or sell your current one. Voted one of the top real estate offices in Apopka for the past nine years in a row only validates why they’re the professionals you can count on for making your dreams a reality.
Rock Springs Realty provides the highest level of service and commitment to their customers. They deliver exceptional results for property owners, investors, and residents alike, and have emerged as a clear market leader for the Greater Apopka area. They operate with a rigorous commitment to staying in front of rapidly changing market conditions. Their broad range of expertise earns superior results across market cycles and asset classes.
Joe Bornstein and his team provides the highest level of service and fosters a culture of efficiency, open communication, and a complete dedication to its clients’ needs. The dedicated and experienced teams of professionals at Rock Springs Realty include Realtor’s Dawna Hosier, Joanne Montchal, Christine Nejame-Evans and Kyle Moro. The combined experience of this team represents decades of experience.
Always delivering results, you can visit them at www.RockSpringsRealty.com or call toll free (877) 333-2811 to find out how they can assist you with your specific real estate needs in this rapidly changing market. “It’s all about the results”.