April 10, 2024

2024 Q1 Market Stats

The market is sure feeling more active then it did this time last year and the number of new listings and our office's under contract stats will confirm.

It seems as if we're past the adjustment period- it was quite the adjustment going from the covid market, to the post covid wind-down, followed by the interest rate increases. 

As far as the rates go, and per the Freddie Mac economists, they've been showing little movement, hovering around 6.8%. Since the start of 2024, the 30-year fixed-rate mortgage has not reached seven percent but has not dropped below 6.6 percent either. While incoming economic signals indicate lower rates of inflation, we do not expect rates will decrease meaningfully in the near-term. On the plus side, inventory is improving somewhat, which should help temper home price growth.

Source: https://www.freddiemac.com/pmms

Questions or thoughts? Feel free to reach out- we'd be happy to chat.

 

Amanda

 

 

April 10, 2024

EWR Agent Happenings - 2024 Q1

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Wondering what we've all been up to the last few months? It's been eventful!
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First and foremost, the Hamiltons have received the best news of all- Carrie BEAT the cancer! We're so thankful for everyone who reached out and supported her in such a tough and trying journey. They've also been soaking up as much quality time with their grandson as they can.
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Next up, Nicole has joined the board for the Special Olympics. She's also going to be the cheerleading coach and fundraising for their upcoming event on April 19th. To learn more, visit their facebook page!
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Josh has been busy between real estate and getting Yoder Donuts up and running for the 2024 season! The team isn't mad about having an 'in' with the best donut truck in town.... ;)
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And lastly, me and Dave have been wrapping up the final aspects to the new real estate agent training company which we just launched on 4/4! In addition, we're gearing up for fishing, Ladies Golf League and a wild season of 5 year old t-ball.
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Thanks for being here and we all hope you have a great summer!
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Amanda

 

Posted in The EWR Difference
April 9, 2024

Exciting Announcement!

📣 Exciting Announcement!

At Elite West, we believe every new agent deserves a launchpad for success, not a starting line with a blindfold on.

It just doesn't sit right with me that so many new/inexperienced agents are left to figure things out on their own, starting from scratch without proper guidance. Sadly, a lot of agents in our industry are not getting the training they need to really excel in this industry and, most importantly, best protect their clients' interests.

From day 1 of opening Elite West Realty, I've been dedicated to crafting not only an internal training program tailored for new agents, but an exceptional client experience as well. As a Broker, watching our agents evolve from newly licensed individuals to confidently delivering exceptional client experiences is truly rewarding- by far my favorite part about being a Broker.

And this is why I'm excited to announce that our internal training program is now open to ANY agent, no matter where they live or which brokerage they're with!

Our comprehensive training program is offered as a year-long membership, encompassing ALL our courses, on demand. It includes The Agent Training Bible™, featuring workbooks for each course, alongside a vault of resources (75+ and counting) such as checklists, guides, templates, and more. Additionally, members will have exclusive access to a live monthly Q&A session where I'll address questions in rapid-fire fashion.

In addition, our courses have been developed in collaboration with industry experts, including the Attorney who provides legal counsel to the Wyoming Association of REALTORS®.

To learn more, visit us at www.askagentannie.com or follow us on social! Thanks for sharing!

www.facebook.com/askagentannie

 

Kindly,

Amanda Zaddock

Posted in The EWR Difference
Jan. 22, 2024

January 2024 - Real Estate Newsletter

January 2024 Email Newsletter by amanda.zaddock

Posted in Newsletter
Jan. 22, 2024

Interest rates in 2024

When it comes to interest rates, we're hopeful when to comes to rates in 2024! According to Fannie Mae, rates peaked in October of 2023 at 7.8% and have continuously ticked downward since then. And according to the analysts at Fannie Mae, the average 30-year mortgage rate is now expected to end the year below 6%.

 

We're currently sitting around 6.87% for a 30-year conventional loans, with other loan types offering even better rates. FHA and VA loans are down to 6.12%.

 

Fannie Mae: https://www.fanniemae.com/newsroom/fannie-mae-news/mortgage-rates-expected-dip-below-6-percent-2024-boosting-home-sales

 

Posted in Buyer Tips
Jan. 22, 2024

5-Year Market Stat Snapshot | 2019-2023

 

It's been quite the ride when it comes to the real estate market over the last 5 years!

Below you'll find a snapshot of the changing market from the pre-covid to post-covid years. As we're past the fast-paced market of 2020 and 2021, we're getting back to a balanced market. Partially due to increased property values, along with increased interest rates. Overall, the local market is healthy. Inventory is low though as it's hard for sellers to give up those 3% rates for 6%, however, we're hopeful they continue ticking down between now and then end of 2024. When that happens, demand will rise though as many buyers who are sitting on the fence will be jumping back into the pool.

So, if you're considering buying, we wouldn't recommend waiting for rates to drop - as prices will just end up increasing at the same time. Buy the home when the right one comes up. You can always refinance later!

Are you regretting making a move in the last 5 years? Reply to our newsletter and let us know!

 

Cheers to 2024,

Amanda

 

 

 

 

 

 

 

Jan. 17, 2023

Pre to Post-Covid Market Stats - How it's Changed!

 

We've had a serious case of the cha cha slide in our real estate market the last few years. So much that it may be difficult to understand and know where our current market is.

 

Next up is a snapshot of the changing market from the pre-covid to post-covid years. This last year was definitely slower than the 2020/21 craziness, but the stats are still quite good. The rising interest rates have sure deterred folks from selling and have created a smaller buyer pool though. We're hoping to see them peak and come back down between now and the end of 2024.

 

Oct. 20, 2021

Q3 Comparisons // 2020 to 2021

 

There is quite a difference between the 3rd Quarter of 2020 and 2021! The inventory is down about 20%, but with the amount of buyers looking to purchase, days on market is down dramatically and the average sales price has increased by more than a $140,000! Yes, $140,000! 

 

The stats are less dramatic, and really quite steady, when we compare Q2 and Q3 of 2021 though:

 

Closings Q2 2021 - 144 // Closings Q3 2021 - 135

New listings Q2 2021 164 // New listings Q3 2021 182

Ave sales price Q2 2021 $452,771 // Ave sales price Q3 2021 $475,544

 

Although we are seeing some changes, the overall market is still strong. Our office has also been experiencing record numbers and we can't thank our clients and community enough. From repeat business, to referrals and 5-star Google reviews - you're the reason for our continued growth! We absolutely love what we do and appreciate your business so very much.

 

Help us reach 100 ⭐️ 5-star ⭐️ reviews by the end of 2021? Click below to easily leave a Google review. Thank you in advance!

 

Yay for 5-star reviews! Click here!

 

If you're wondering how much your home is worth, let's chat! We'll be happy to provide you with a pressure-free consultation and current market analysis. Our team can be reached at 307-764-6222 any day, any time.

 

Talk to you soon!

Amanda & the Elite West Team

July 12, 2021

When Visitors Come...

 

 

We are so fortunate to have a LONG list of things to do when friends and family come to visit! If you're in need of ideas, here are some of our favorites:

 

* Trip to Red Lodge - Golfing, Red Lodge Ales, Katie Cakes, Carbon County Steakhouse (we suggest the Cowboy Coffee Ribeye or the Delmonico - it'll feed the entire table!), followed by a SURPRISE stop at the pig races in Bearcreek!

 

* Yellowstone, obviously.. the grand prismatic springs are incredible! As is a GIANT buffalo walking right past your car..

 

* The rodeo is always a blast and it's held every night at 8!

 

* Beautiful drives; through Yellowstone, Beartooth Pass from Cody to Red Lodge (takes 3-4 hours), drive from Cody to Dead Indian Summit Overlook (worth the 40 minute drive!), and visiting the Bighorn Canyon outside of Lovell.

 

* Camping in the Big Horns. We love heading down to Ten Sleep and going up from there. There you'll find the Ten Sleep Brewery, local shops (with ice cream!), an amazing pizza place called Sackett's Fork Pizza, and great trout fishing in the mountain lakes & streams. Plus, there's a good chance you'll see a moose!

 

We'd love to hear your ideas! Please leave them in the comments below!

 

July 12, 2021

Charity of the Month : Serenity Pregnancy Resource Center

* image from their website, https://www.serenityprc.org.

 

We give back to a local charity or organization at every closing. This month, the funds will go to Serenity Pregnancy Resource Center!

 

From their website:

 

"Our Story

 

Serenity Pregnancy Resource Center opened its doors in Cody, Wyoming  in 2011 then in Powell, Wyoming in 2014.  From the beginning we have made it our goal to serve our community by providing free medical services, support, and education to pregnant woman and their partners.  From conception to delivery our loving staff and volunteers are dedicated to providing the best care. 

We are a Christ-centered ministry which exists to provide alternatives to abortion, offer post abortion support, and empower mothers and fathers in crisis pregnancies to value and choose life in all circumstances."

 

To learn more, visit them at https://www.serenityprc.org/ or call 307-271-7166. Located in Powell & Cody!

Posted in Local Charities