[Podcast Intro Music with Spooky Sound Effects]
Billee Silva: "Welcome, ghouls and guys, to the spooktacular Halloween edition of 'Haunted Homes and the Cryptic Southwest Florida Market.' I'm your host, Billee Silva, with the Southwest Florida Realty Show, here to bewitch you with some real estate tales that are sure to send chills down your spine. Grab your broomsticks and prepare to be enchanted by the eerie world of the housing market."
[Spooky Sound Effects]
Billee Silva: "Now, let's sink our fangs into some bone-chilling news from the real estate realm. It seems the mortgage rates have been on a scary streak, rising for the seventh consecutive week! These rates are creeping closer to 8%, the highest they've been in 20 years. It's like the interest rates are trying to play a trick on our first-time homebuyers, taking a bite out of housing affordability, especially with the haunting rise in home prices."
[Spooky Sound Effects]
Host: "But, wait... the spooktacular surprises don't end there! Despite this hair-raising rise in mortgage rates, pending contracts are stuck in a ghostly slumber, resting at historically low levels. It's like the market is under some dark, ancient spell, and affordability remains an ominous obstacle for many brave souls. The only way to break free from this curse is lower rates and a greater housing inventory. Will the housing market find a witch's brew to make things right again?"
[Spooky Sound Effects]
Billee Silva: "Let's zoom in on our own little corner of Southwest Florida, shall we? In Lee County, the September statistics have a twist of their own. The median sales price has dropped 3.5% from a year ago. Inventory, though, has risen from the crypt by a whopping 42%, with listings creeping up by 35%. It's like a haunting Halloween party with more 'houses' in attendance this year. We've got about 4.7 months of inventory, compared to a mere 2.7% last year at this spooky time. Can you feel the winds of change, stirring up the market, and setting the stage for a fang-tastic buyer's market?"
[Spooky Sound Effects]
Billee Silva: "And what's that lurking in the shadows? Homes are starting to wear their 'for sale' signs like costumes for a bit longer, and there are signs of monstrous price reductions. Much to the seller's dismay, many buyers are showing their true colors and not willing to pay full price. They're expecting a deal, a 'treat' if you will, with seller concessions, rate buy-downs, and repair fixes. It's a real estate thriller out there!"
[Spooky Sound Effects]
Billee Silva: "But beware, dear listeners, for there's a dark cloud over the world of condos. Getting loans for these dens of despair has become more challenging than ever, with Hurricane Ian litigation issues looming like a wicked spell. Buyer traffic is considerably down, as if the real estate world itself is under a curse. The whispers in the dark alleys of the market suggest that there's something sinister afoot. Will the condo market ever break free from this sinister grip?"
[Spooky Sound Effects]
Billee Silva: "As we wrap up this spine-tingling episode of 'Haunted Homes and the Cryptic Market,' remember that the world of real estate can be a lot like Halloween – full of tricks, treats, and surprises. Stay tuned for more spooky updates on the ever-changing market, and until next time, beware of the haunted open houses, and may you find your dream home without running into any paranormal activity."
[Exit with Spooky Sound Effects]
Billee Silva: "Happy Halloween, and stay spooky, my friends!"
[End of Podcast]