Skip to content

December 2023: Home Purchase Sentiment

Greetings from sunny Key Largo! I’ve had an amazing first three weeks of living here, and some of the highlights include easy fishing (which is really feeding fish by hand), staying active with exercising, but the best part has been trying all the local restaurants. Last week I had the opportunity to go to the Italian Food Company where they serve everything from Burrata to Pizza and everything in between, and we had a feast!

I got a personal pizza for myself, which was the Quattro Formaggi. This is a delicious white pizza with smoked mozzarella, gorgonzola, grana Padano, mozzarella, and garden basil. I ordered this as a personal pizza and asked for this to be well done, and they delivered on every aspect! This pizza had a lot of flavors, and you can tell the ingredients were fresh, which is one of the most important aspects. The reason that I get this well done is not only for the crust, but it’s also to avoid the middle of the pizza getting soggy. I’ve realized that large pizzas do not hold up when you request them to be extra crispy as it takes away from other aspects of the pizza. Pizza in Florida is much different than pizza in the northeast, so if I were to compare this to somewhere up north, it’s like Bertucci’s. Italian Food Company isn’t necessarily known for just their pizza, but they will make Italy proud with how good of a job they do. I also had the opportunity to try the Bolognese Pizza as well as the Salsa Rosa, which is a pasta dish. I would highly recommend all three of these meals when you come to the Italian Food Company, you will leave here very happy and satisfied! FoodiePhil gives Italian Food Company a 7.5 rating. This is a really cool place with a great atmosphere, I highly recommend taking the time to come here!

Where should I go next?! Send me your recommendations!

Banner (18)

In previous newsletters, we have discussed how hot the market is, on the buying and selling side. In this week’s newsletter, we will discuss the home purchase sentiment and will focus on three key topics based on an article from Fannie Mae.

1. Is Now a Good or Bad Time to Buy?

2. Is Now a Good or Bad Time to Sell?

3. Mortgage Rates and Home Prices!

1. Is Now a Good or Bad Time to Buy?

Depending on who you talk to, right now could either be a fantastic time to purchase, but it could also be a terrible time to purchase! Month over month, the people who say now is a good time to buy has remained unchanged. According to a recent article by Fannie Mae, people who say now is a bad time to purchase has decreased from 65% to 64%. One of the main reasons as to why now is a good time to purchase a home is because many people have much more flexibility with their jobs. With remote work still hot, and COVID unfortunately making a comeback, homebuying is going to remain hot. Small towns and small city’s will continue to thrive in the homebuying market mainly because homebuyers are looking not only for the next place to call home, but also where they can get the best bang for their buck and overtime, make money on this investment.


2. Is Now a Good or Bad Time to Sell?

When it comes to the selling side, now is absolutely the best time to sell. Homes are being sold at an unbelievable pace, and with mortgage rates working towards prospective buyer’s favor, the market will continue to stay hot. There are many more homebuyers out there compared to the housing inventory, which ultimately makes this a competitive market. Although Fannie Mae’s statistics say otherwise, we couldn’t disagree more. Now is the time to maximize the profit made on your home to upgrade to the home you’ve always dreamed of. Although the inventory is low, that doesn’t mean it’s impossible to find a home, because they sure are out there!


3. Mortgage Rates and Home Prices!

In 2022, mortgage rates are expected to increase, but by how much remains a mystery. Mortgage rates will certainly have an impact on the housing market, whether it’s on the buying side or selling side, homebuyers are looking to get the best rates possible. Even with rates expected to go up in 2022, that does not mean people will stop purchasing and selling homes. Home prices are at an all-time high right now and there’s an expectation that there will be a market correction which can ultimately drop the price of a home. This could work in favor of buyers, but not so much for the sellers. So, if you’re seriously considering selling your home, now would be the best time to maximize profits, because a year from now, your home may not be worth what it is today. On the buying side, we always recommend taking advantage of low rates, but the homebuying market will continue to stay hot, especially if homes start to drop in price.

Screen Shot 2021-12-14 at 11.03.02 AM

All in all, everyone has different opinions when it comes to purchasing and selling a home. We feel that now is the best time to take advantage of both, whether you’re on the buying or selling side. If you decide to wait to purchase a home, you could deal with higher rates over a 30-year period. If you decide to hold off on selling your home, you can potentially lose out on money if your home value decreases over the next year. The best advice I can give you is to consult with myself, a professional mortgage advisor, to see what the best options are for your situation.

Become a World's Most Trusted Realtor:


There are many factors to consider when getting into the home-buying process. It’s best to evaluate all options and to really make sure that now is the right time to buy a home. If you’re only focused on the purchase price and interest rate, you’re simply not ready to buy and need to evaluate more to make sure you are not wasting your own time. If you plan on expanding your family, do consider getting a home larger than you originally thought as it will pay dividends in the long run! If you would like to take part in a short interview for our next newsletter/blog please click here.

Are you a realtor, attorney, financial advisor, etc. looking to promote your services for FREE? Sign up here to be published on our website and get the chance to be featured in top publications such as The Wall Street Journal and Business Insider.

Join The Phil Ganz Newsletter









To learn more about the real estate market, check out our weekly newsletter where we talk about food, real estate, and mortgages! Got a question? Contact me today to chat with a financial advisor or discuss your next steps. 

Find The Right Mortgage

For more than 20 years, Phil have been helping customers achieve their home purchase and refinance goals by providing them with invaluable resources and support.

Schedule a FREE Consultation
Phil Ganz

Subscribe to Get Your First Time Homebuyer Checklist

Sign up for the weekly newsletter to stay up to date on the latest real estate market trends, loan news, and so much more!