State of the Real Estate Market Address in Madison, Alabama in January 2023: Feat. Co-Host Beau Miles, owner and broker of Essential Real Estate
The real estate market began making a drastic shift from record-breakingly competitive for buyers to more of a “normal” market in late summer 2022. This shift was driven primarily by dramatic mortgage rate increases, though rates have seemingly begun to stabilize or even decrease a smidge. Builders are focusing on spec homes more than ever before, and real estate agents and builders alike and getting creative with buyer incentives.
If you are in the market to buy or sell your home in 2023, it’s challenging to know what the right moves to make are and when to make them.
To answer current real estate questions that are specific to the Madison, Alabama market and get applicable, realistic, helpful advice, we called on Essential Real Estate owner and broker Beau Miles to fill us in on current real estate happenings.
If you are considering buying or selling in Madison, Alabama, this is a monthly series not to be missed! Enjoy!
7:07 – Addressing a big jump in loan applications nationwide
7:15 – Is there an increase in market confidence?
8:26 – Is the market subjectively labeled as strong?
9:55 – Will sellers consider my offer with a VA loan?
11:30 – Advice for buyers who are considering a new construction (and what you can negotiate)
14:45 – Advice to sellers (especially those who are discouraged)
16:55 – Predictions for Summer 2023
To continue the conversation with Beau:
Want to watch the previous State of the Real Estate Market recaps for the city of Madison, Alabama? Check out these videos!