Cheers TO 2023!

We would like to thank all of our clients for their trust and confidence in 2022! We are excited to announce that our team has grown a bit with the addition of two new agents. Karl Konradson, an award-winning agent and U.S. Navy Veteran, joins our team and offers the same level of residential real estate service and experience on which The Linda Fox-Jarvis Team prides itself. In addition, Steve Fox, a local commercial real estate agent and pilot (and Linda’s brother) joins us to round out the team to be able to offer commercial real estate, aviation, and warehousing services. Welcome, Karl and Steve!

Karl and Steve join Linda, Stephanie, Annie, and Maggie to help us serve every corner of the Hampton Roads community and its neighborhoods. With Annie in Norfolk (West Ghent), Karl in Little Neck, Maggie in the Bayside/Shore Drive areas, Steve at the North End, and Stephanie and Linda in Great Neck — THE LINDA FOX-JARVIS TEAM has the area covered. With over 40 years working in real estate, we pride ourselves on our extensive market knowledge throughout Hampton Roads, marketing strategies, mortgage connections, and negotiating skills.

Let us help you make a smooth move — either locally or out of town! We will treat you like FAMILY and never let you be homeless! Remember, we are here for your REFERRALS. The highest compliment you can pay us is to refer your friends, family, neighbors, and business associates to us for their real estate needs. We promise we will treat them like FAMILY!

We wish you and yours a very happy and healthy 2023!

The Current Market

While elevated rates, sluggish sales, and high inflation have taken a toll, it’s unlikely home prices will drop this year. In fact, we may see a further uptick; home prices are holding steady for most parts of the country since inventory is extremely low.

Mortgage Rates Predictions

Housing inventory is about a quarter of what it was in 2008 at just 2% and nowhere near the 30% mark seen during the crash. There are signs that mortgage rates have topped out at 7%.

Home sales are expected to decline by 7% in 2023. However, 2024 is expected to result in a strong rebound, with a projected increase of 10% in home sales and a 5% increase in the national median home price. Prices should hold firm or marginally grow.

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