“What Does Recession Mean to Us?”

   “What Does Recession Mean to Us?”

 

 

 

 

 

 

Hey Joe,

You have always been my go to guy when I have questions that have to do with real estate and mortgages. I keep hearing the word recession, what the hell does that mean when it comes to our plans for moving. As you know, this fall we plan on moving to NY, should we reconsider? Will interest rates be going up? What do you think will happen to the value of our current home?

 

 

Many are asking similar questions, so let me share some thoughts.

First, interest rates will remain low and most likely go lower. The 2020 election will have an effect on interest rates after that.

Second, in most of the states that I do mortgages the values have stayed steady. There are some pockets where values are still increasing and there are some pockets where values have peaked and there is downward pressure. Your Realtor or one referred to you is the best source of information, NOT an online site or your TV.

 

I have referred this client to a Realtor in his area of Connecticut and to the area they are planning on moving to. It is extremely important to make decisions based on good information.

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 4 commentsJoe Petrowsky • August 29 2019 07:47PM

Comments

Good morning, Joe Petrowsky there's no recession now or in the near future.... the economy is strong.... and interest rates are low.... the market changes consistently and that's the reason to participate when the market is stable...

Posted by Barbara Todaro, Marketing Agent for The Todaro Team (RE/MAX Executive Realty ) 11 days ago

Good morning Joe. The news pundits can predict a recession is coming. So is next year! Live your life. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) 11 days ago

Hi Joe- you gave excellent advice to them. Get what's going on in a market from a local professional!

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) 10 days ago

Hopefull unlike like the Great Recession it means a normal market correction especially in the stock market.

Posted by Joe Pryor, REALTOR® - Oklahoma Investment Properties (The Virtual Real Estate Team) 9 days ago

Participate