Latest / Military Real Estate Rookie Show / October 2026 Housing Market Reality

Transcript

October 2026 Housing Market Reality · Military Real Estate Rookie Show

• 0:00
  SPEAKER_00: Hello, military real estate rookies.
• 0:02
  SPEAKER_00: I'm your host, Rena.
• 0:04
  SPEAKER_00: So thank you all for supporting the show.
• 0:06
  SPEAKER_00: I really appreciate it.
• 0:08
  SPEAKER_00: I'm trying, guys, to educate you guys on the home buying process.
• 0:12
  SPEAKER_00: And remember, I serve Florida and Georgia.
• 0:15
  SPEAKER_00: So if you have or been thinking about buying a home, please reach out to me at Rena Baron Real Estate.
• 0:22
  SPEAKER_00: So let's get started.
• 0:24
  SPEAKER_00: So welcome back to the Military Real Estate Rookie Show where we talk about real estate, building wealth, and making money, smarter moves with your money.
• 0:32
  SPEAKER_00: Okay, so I'm your host, Rena, and I want to make sure that you guys understand I'm here to help and educate you guys.
• 0:40
  SPEAKER_00: So today we're talking about what's happening in the housing market.
• 0:44
  SPEAKER_00: And right now in October 2026.
• 0:47
  SPEAKER_00: And if you've been watching the news and scrolling through the real estate listings or listening to people argue about whether it's a good time to buy a house, you've probably heard a little bit of everything.
• 1:00
  SPEAKER_00: Some people say wait until interest rates come down.
• 1:03
  SPEAKER_00: Others say buy now and prices go back up.
• 1:07
  SPEAKER_00: And sellers are wondering: should I put my house even on the market?
• 1:11
  SPEAKER_00: You know, or should I wait till even the next year?
• 1:14
  SPEAKER_00: So, what's the real answer here?
• 1:16
  SPEAKER_00: Well, rookies, the answer depends on your financial situation and your goals and where you want to buy and sell.
• 1:24
  SPEAKER_00: Today we're breaking down, doing down the current market and what it means for buyers and sellers, and how you can make smart decisions without letting fear or hype run the show or listen to something on Instagram, right?
• 1:38
  SPEAKER_00: So let's get into it.
• 1:40
  SPEAKER_00: What's happening with the mortgage rates?
• 1:42
  SPEAKER_00: So everybody wants to know hey, how's that?
• 1:45
  SPEAKER_00: How's the mortgage rate?
• 1:46
  SPEAKER_00: How's the market?
• 1:47
  SPEAKER_00: You know, let's start with the mortgage rate because this is one of the biggest things affecting buyers right now.
• 1:54
  SPEAKER_00: As of October 22nd, Frady Mac reported that the average 30-year fixed mortgage rate was 7.32, right?
• 2:04
  SPEAKER_00: That's down from 7.40 the previous week, but still higher than the 6.19 that you used to reported during the last year, right?
• 2:13
  SPEAKER_00: So let that sink in.
• 2:15
  SPEAKER_00: Let it sink in for a minute, right?
• 2:17
  SPEAKER_00: 7.40, even a small change in interest rate can affect your monthly payment, particularly when you're financing hundreds of thousands of dollars.
• 2:27
  SPEAKER_00: And here's my advice: don't build your entire home buying strategy around a hoping against like interest rate will drop.
• 2:35
  SPEAKER_00: That is not how you make financial, good financial moves.
• 2:38
  SPEAKER_00: Nobody can guarantee exactly where the rates will be the next month or the next year.
• 2:43
  SPEAKER_00: Instead, talk with a lender.
• 2:45
  SPEAKER_00: Lenders understand your purchasing power and today's rates and determine what monthly payment fits your budget.
• 2:52
  SPEAKER_00: And if rates fall later and you qualify, you can ask your lender whether refinancing makes sense.
• 2:59
  SPEAKER_00: Just remember, refinancing isn't guaranteed and it comes with its own costs and requirements.
• 3:04
  SPEAKER_00: The goal isn't to predict the perfect moment, the goal is to make decisions you can afford right now.
• 3:11
  SPEAKER_00: Okay, so are home prices finally coming down?
• 3:14
  SPEAKER_00: That is a very good question.
• 3:16
  SPEAKER_00: Let's talk about it.
• 3:17
  SPEAKER_00: The latest National Weekly Home Report showed that the medium asking price was down 2.1% compared with the same week a year ago.
• 3:28
  SPEAKER_00: The number of homes available for sale was up 7.7% year to year.
• 3:35
  SPEAKER_00: What does that mean to you?
• 3:37
  SPEAKER_00: For buyers, more inval more available homes can mean more choices and potentially more opportunities to negotiate.
• 3:45
  SPEAKER_00: It is a buyer's market.
• 3:47
  SPEAKER_00: But please understand this national numbers do not tell the whole story of your neighborhood.
• 3:52
  SPEAKER_00: And a particular neighborhood might still have strong demands.
• 3:56
  SPEAKER_00: Another area may have homes sitting on the market longer with sellers willing to negotiate.
• 4:01
  SPEAKER_00: That's why when people ask, hey, how's the market?
• 4:04
  SPEAKER_00: Which market?
• 4:05
  SPEAKER_00: Is it in this neighborhood or is it in that neighborhood?
• 4:07
  SPEAKER_00: That's why I always encourage buyers and sellers to look at the comps properties in the Pacific area where they want to move.
• 4:13
  SPEAKER_00: Don't assume every home is losing value.
• 4:17
  SPEAKER_00: And don't understand, don't assume every home is appreciating just because someone says, hey, real estate is always up.
• 4:24
  SPEAKER_00: Look at the actual market data in that particular area.
• 4:29
  SPEAKER_00: What does this mean for Savannah and coastal Georgia, folks?
• 4:32
  SPEAKER_00: I wanted to just dive into that little area where I work as a realtor.
• 4:37
  SPEAKER_00: Let's bring it closer to home.
• 4:38
  SPEAKER_00: In Savannah, September market data showed that active listening listings were approximately 27% compared with a year earlier.
• 4:48
  SPEAKER_00: The medium listing price was around$404,000, while homes were taking longer to sell than they had a year before.
• 4:55
  SPEAKER_00: Georgia Statewide September report also showed a medium sale price of$355,000 up to a 1% year over year at the same time, closed sales were down 10% and the medium market was increasing.
• 5:10
  SPEAKER_00: What does that tell you?
• 5:11
  SPEAKER_00: The market is not moving at the same pace everywhere, and buyers and sellers need to be realistic about it.
• 5:18
  SPEAKER_00: If you're a buyer in Savannah and don't assume you have to rush into every property, depending on the home and it's competition, you may have to room to negotiate repairs, clause, closing clause, and other terms.
• 5:31
  SPEAKER_00: It depends on the area.
• 5:32
  SPEAKER_00: And if you're a seller, don't assume you can put any price on your home and expect for it to have multiple offers.
• 5:39
  SPEAKER_00: Pricing matters, presentation matter, condition matters, and areas matter.
• 5:44
  SPEAKER_00: And the comps sells in your neighborhood matters.
• 5:48
  SPEAKER_00: And your neighbor asking price is not proof that your house will sell for the same amount.
• 5:52
  SPEAKER_00: You need a strategy based on what buyers are actually paying for that similar property.
• 5:58
  SPEAKER_00: You know, so let's move on to Florida, where I practice real estate too.
• 6:02
  SPEAKER_00: There, let's talk about Florida.
• 6:04
  SPEAKER_00: I know a lot of people, you know, they kind of shake it with Florida, but let me tell you, Florida September and third quarter 2026 market reports show a more measured market with some differences between single-family homes and condos and townhomes.
• 6:20
  SPEAKER_00: The state medium sales price for existing single-family homes in September was$415,000 up to 1.2% compared to a year earlier.
• 6:32
  SPEAKER_00: The medium of house condo and town halls unit was$293,000.
• 6:37
  SPEAKER_00: So Florida market also varies considerably by cities, county property, insurance costs in Pacific areas.
• 6:44
  SPEAKER_00: So if you're buying in Florida, don't just look at purchase price, investigate the homeown home insurance, potential potential flood exposure, association fees, property taxes, and any special assessment that is attached to that home.
• 6:59
  SPEAKER_00: A property might look like a bargain until you calculate what it's actually costing you at the end.
• 7:05
  SPEAKER_00: And if you're a seller, buying may compare your property with seller with several alternatives before making an offer.
• 7:13
  SPEAKER_00: Make sure your price and condition and market strategy give them a reason to choose your home.
• 7:19
  SPEAKER_00: Okay, so should you buy or sell or wait?
• 7:23
  SPEAKER_00: All right, rookies, let's get in that question.
• 7:25
  SPEAKER_00: Everybody wants to answer should you buy, sell, or wait?
• 7:30
  SPEAKER_00: If you're thinking about buying, listen, start with your finances.
• 7:34
  SPEAKER_00: Review your credit, your income, your monthly debts, your savings, and your full and your full cost of home ownership.
• 7:41
  SPEAKER_00: Get a pre-approved.
• 7:43
  SPEAKER_00: Understand that that payment is yours.
• 7:45
  SPEAKER_00: And if you can afford it, you should be comfortable living in that home.
• 7:49
  SPEAKER_00: And if you find a home that meets your needs and fits your budget, buying makes sense.
• 7:53
  SPEAKER_00: Do not wait until the market changes.
• 7:56
  SPEAKER_00: If you're ready, then buy.
• 7:58
  SPEAKER_00: If you're thinking about selling, get realistic about assessments of your home current market value.
• 8:03
  SPEAKER_00: Look at reasonable comps, competing listings, and how similar homes are taken to sale.
• 8:08
  SPEAKER_00: You may need to be flexible on price or negotiation with buyers.
• 8:12
  SPEAKER_00: That doesn't mean you can't sell successfully.
• 8:15
  SPEAKER_00: It just means that you just need to plan accordingly.
• 8:17
  SPEAKER_00: Okay.
• 8:18
  SPEAKER_00: And if you're thinking about waiting, that's fine too.
• 8:20
  SPEAKER_00: That's a valid choice.
• 8:22
  SPEAKER_00: Uh, maybe you need to pay down some debt, build some savings, improve your credit score, or give yourself some more time to prepare.
• 8:28
  SPEAKER_00: And that's really fine.
• 8:30
  SPEAKER_00: Waiting can be a smart financial decision.
• 8:33
  SPEAKER_00: When buying today would stretch your budget too far.
• 8:36
  SPEAKER_00: But don't wait simply because someone on social media said, Hey, I will wait because the market's about to crash and everybody is going to have homes.
• 8:46
  SPEAKER_00: So nobody can guarantee nobody can guarantee that outcome.
• 8:50
  SPEAKER_00: Make your decision based on what you can afford, what you need, and how long you plan, you know, because at the end, it is your response, your responsibility.
• 8:59
  SPEAKER_00: My advice to real estate rookies: here's what I want you to take from today's episode.
• 9:04
  SPEAKER_00: The October 2026 market is giving a buyer and sellers different opportunities depending on the location and the property.
• 9:13
  SPEAKER_00: Mortgage rates remain elevated compared with a year ago.
• 9:17
  SPEAKER_00: More listings are available.
• 9:18
  SPEAKER_00: Some sellers are facing longer market periods.
• 9:21
  SPEAKER_00: You have to look at all of that, right?
• 9:23
  SPEAKER_00: But real estate is local.
• 9:25
  SPEAKER_00: One headline cannot tell you whether a particular house is going to sell or not.
• 9:28
  SPEAKER_00: So these are some things that you have to be mindful for.
• 9:32
  SPEAKER_00: So do not blanket market rates.
• 9:34
  SPEAKER_00: You have to look at that particular area.
• 9:36
  SPEAKER_00: Do your homework, ask questions, compare your options, call the mortgage lender, and never let anyone pressure you into making one of the biggest financial decisions of your life and without understanding the numbers.
• 9:50
  SPEAKER_00: Okay.
• 9:51
  SPEAKER_00: So remember, rookies, you do not need to time the market.
• 9:55
  SPEAKER_00: You need a strategy, a strategy to protect you and that works for you and that you're comfortable with because you are wanting to make the smart financial decisions as my rookies do.
• 10:08
  SPEAKER_00: So now you're thinking about buying or selling at home in Georgia or Florida.
• 10:13
  SPEAKER_00: Let's talk.
• 10:13
  SPEAKER_00: I'm Rena Barron.
• 10:15
  SPEAKER_00: I love to help you guys and understand your options and navigate the real estate process.
• 10:19
  SPEAKER_00: I walk you through all the smart programs that we have.
• 10:22
  SPEAKER_00: Follow me on Instagram at Rena Baron Real Estate for Rena for real estate tips and insights and updates.
• 10:30
  SPEAKER_00: I'm here to educate my rookies.
• 10:32
  SPEAKER_00: You can also email at Renabaron Real Estate at gmail.com to discuss your real estate needs and goals.
• 10:39
  SPEAKER_00: And if you're outside of Georgia, Florida, that's okay.
• 10:42
  SPEAKER_00: Reach out anyway.
• 10:43
  SPEAKER_00: I can help you connect with real estate professionals in your area.
• 10:47
  SPEAKER_00: And if you're if this episode helped you, please follow me or subscribe to my Military Real Estate Ricky show.
• 10:53
  SPEAKER_00: Leave a review and share it with somebody who needs it, who's trying to figure out their next real estate move.
• 10:59
  SPEAKER_00: Because the more you inform, the better decisions you can make.
• 11:03
  SPEAKER_00: I'm Rena Baron, your realtor in Georgia and Florida.
• 11:06
  SPEAKER_00: And I hope you guys have a wonderful day.
• 11:08
  SPEAKER_00: And until next time, keep learning, keep planning, keep building your future, one real estate decision at a time.
• 11:15
  SPEAKER_00: All right.
• 11:15
  SPEAKER_00: Thank you, real estate Rickies.
• 11:17
  SPEAKER_00: Bye.