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Happy Thursday!

I love the holiday season! Thanksgiving to Christmas is my most favorite time of year. It's a time for cooler weather, planning snow trips, spending time with family, and getting to see all of my kids, including my out-of-state grown kids, siblings, and nieces and nephews. I love just about everything about this time of year.

But the thing I am looking forward to the most. This Saturday I am officially 1 year NED from my NET cancer and at the end of December I am finally in remission from breast cancer! I have a lot to celebrate!

Have an amazing weekend my friend!

Week In Review

11/23/2023

SUMMARY

• The Thanksgiving holiday gave us a short week

• Home inventory is dropping

• The market is following a normal fall/winter market pattern

• Even with the fall slowdown, home prices are holding fairly steady

ADDITIONAL WEEKLY STATS

• 320 Active Listings, DOWN from 327
• 165 Pending Listings, THE SAME from 165
• The Median List Price was $485,000, DOWN from 497,000
• Median Pending Price $460,000, UP from $429,000
• Median Closed Price $490,000, UP from $421,000
• Homes with Price Reductions dropped from an average of $418,000 to an average of $400,000
• Average Days On Market was 22 Days DOWN from 28 Days
• 28% of homes went pending within 2 weeks, DOWN from 48%

NICOLE'S THOUGHTS

• Interest rates continued to drop this week.

• Mortgage applications are continuing to rise, 4.7% this week!

• I am still hopeful that we are on the downhill side of the high-interest rates

• It is time to watch the market to see if it's time to refinance higher-rate mortgages

• Homes sales slowed a bit this week, but with Thanksgiving closing down offices I'm not surprised.

• Pricing your home correctly when first listed will net the seller more money than overpricing, reducing the price and the property becoming stale on the market

• We will continue to see more buyers enter the market if interest rates continue to drop

Call me anytime and we can talk about your needs and make this market

work for you. 530-565-8636

Scroll to the bottom of the email to see our recent average mortgage rates from Mortgage News Daily.

How In The World Can I Help You?

Have Questions? Need a Contractor Recommendation?

Need Buying/Selling/Mortgage Advice? or just chat with me?

Call/Text/Email me at 530-565-8636 or reply to this email!

Mortgage Rates Officially Hit 3-Month Lows

• Last week mortgage rates hit a 2-month low

• Just a short week later we are almost at 3-month lows

• Top tier 30yr fixed rates pushed back into the high 6% range



• Mortgage applications are on the rise



Thinking about selling?

And Find Out What Your Home Is Worth!

Looking for another Northern California County?

Reply to this email! I'd be happy to send those over to you!

FOR SALE

1142 Santa Barbara Way, Yuba City

• 2,893 sq ft
• 4 Bedroom
• 3 Bathroom
• 3 Car Garage
• RV Parking
• Owned Solar

This beautiful home listed by Martin Mahmoudi is located in North Yuba City. Check out all this gorgeous home has to offer in the link below!

Today's Mortgage Watch

Mortgage Market Summary



• Average interest rates dropped again this week to below 7.3%

• Mortgage application volume has increased 3% due to rate drop

• Refinancing has also jumped 4% with rate decreases



• Refinancing accounted for 32.4% of total applications, up from 31.9% last week

Here's what this means...

Homebuyers are more comfortable coming back to the market and Homeowners are ready to lower their payments by getting a better mortgage rate.

Miss Any Past Issues of My Newsletter?  Click Here!

Nicole Gates

DRE 02079910

CERTIFICATIONS:

-Creative Marketing, Promotion & Sales Specialization

-Certified Real Estate Negotiator

-Certified Military Home Specialist