Are Fed Interest Rates Historically That Bad?
Are Fed Interest Rates Historically That Bad?
Full Video Transcript Below
Maybe Fed Interest Rates Not So Bad?
Alice Lema: [00:00:00] Hey, real estate fans, Alice Lema, Broker John L Scott in beautiful Southern Oregon, another addition to the weekly podcast. Today we're gonna talk about the fed rates, the historic fed rates. Maybe they're not so bad. Let's see before we get started on that, wanna give you a quick second to subscribe to the channel, Give me a thumbs up, send it to your friends and family, and then if you wanna text or talk to me privately over the weekend, you can call or text (541) 301-7980.
It's flying around up there. And yeah, so let's get onto the podcast. Fed rates since 1960, maybe not looking so bad? Well, so I just wanna dive into this a little bit because we have this beautiful chart. It's a historic chart from NAR and it shows all of the years since 1960. And that's actually a particularly good year if you get my drift. That was the year I was born and since 1960, you can see this chart. Look at [00:01:00] all of the wild swings, and yes, it is over 62 years. However, I just wanna point out that if you look at the very end here, kind of the 2022, you can see it's not so bad compared to what we went through, you know, in eons before.
Now having said that, nobody wants to see that happen again. Nobody's saying that's gonna happen again, but I just wanna give some perspective because here's what I watched out in the market this week. The market is lively, the market is persistent. People are crunching through the difficulty. They gave us another 0.75 interest rate increase again this week.
Yeah, a couple of buyers stumbled, but they got their preapproval redone and they're already back out on the market. This is Saturday. Just had one get an accepted offer just like 10 minutes ago before we did this broadcast. So they're [00:02:00] out there and you know, the sellers had to really jump into the price reduction pool this week if they hadn't already.
They did big time. Did you see some of the price reductions? 30, 40, $50,000 on the higher priced ones. And there's people in the lower ones, the lower priced, like the 300 s 250 to 350, they're taking lower offers. So listen up. If you're a seller and you get an offer that's low, you might wanna think about taking it or just do the price change. If you, if you don't wanna do the price change, then at least entertain lower offers so you can be done. And buyers have a little more confidence. Have a little more confidence when you're out there looking at houses and look at a lot of 'em. Keep going back and back. And you know what else? Look at the ones that are a little higher priced, because those sellers might be sitting at their kitchen table tonight clinking the fork on the plate going what do we [00:03:00] do? What do we do with the house? You know, some people wanna move. Some people had a life change, Positive life change, negative life change depends on your point of view. But you know life still goes on. And I am just so proud of our little southern Oregon housing market chugging along.
It's hard, but they're getting it done. And here's to you, here's to us for making it happen. And anytime you start feeling blue about those interest rates, pull up this chart. Cause it'll make you feel better instantly. Alright so that's the podcast for today. Just wanted to have a little celebration in the gloom and doom and and just remind everybody that it's still out there happening.
People still getting houses, they're still getting to move. They're still getting a house they love more than the one they just left. It was just beautiful this week and we're looking out into the week in front of us. Same thing, lots and lots of activity. So if you have a house you were thinking of putting on the market next [00:04:00] year, you might wanna do it right now cuz there's a lot of energy.
And we kinda understand the market we're in right now. I don't wanna tempt fate. I'm hoping everything settles down next year. That's what I'm planning on. But if something else happens and it causes some you know, some stirring up of the market again, then we'll just deal with it. Look at what we've look at what we've done in the last six or nine months absorbing all these economic issues, the inflation, the wars, the this, then that. We're still doing it, so yay for us. Okay? Enough cheer lady. Have a beautiful, beautiful weekend. Hug those you love. Reach out to me if you need me. Otherwise, we'll catch you next week by.