Chicago Real Estate Perspective

Dave Nimick: 2023 Real Estate Predictions - What NOT to Believe

Episode Summary

In this episode, Dave discusses: What to believe and what not to believe in the rumors of the 2023 housing market. Concerns and realities about interest rates. Why 2020 and 2021 were an anomaly, and a realistic look at 2022. Key Takeaways: There are more differences than similarities between the current housing situation and the housing crisis of 2008. While the current interest rates have climbed markedly this year, they are still well below the historical average interest rate. On the whole, we will likely have a fairly balanced market going into the next year, though this can vary depending on your area. In essentially all areas, homes have risen in their appreciated value over the last 3 years. Certain areas have risen far above normal. "You don't know exactly where the market is going to go, nor can you control it. Looking at real estate through a long-term perspective provides a much better understanding than any one snapshot moment in time." — Dave Nimick Connect with Dave Nimick: Website: https://thenimickteam.com/ Email: dave@thenimickteam.com YouTube: https://www.youtube.com/channel/UC4WqeMs62CL3T5P-w6ncqbQ/videos LinkedIn: https://www.linkedin.com/in/davenimick/ Facebook: https://www.facebook.com/thenimickteam Dave Nimick is owner of The Nimick Team, Inc. with Keller Williams Realty Show notes by Podcastologist: Chelsea Taylor-Sturkie Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

Episode Notes

In this episode, Dave discusses:

What to believe and what not to believe in the rumors of the 2023 housing market.
Concerns and realities about interest rates.
Why 2020 and 2021 were an anomaly, and a realistic look at 2022.

Key Takeaways:

There are more differences than similarities between the current housing situation and the housing crisis of 2008.
While the current interest rates have climbed markedly this year, they are still well below the historical average interest rate.
On the whole, we will likely have a fairly balanced market going into the next year, though this can vary depending on your area.
In essentially all areas, homes have risen in their appreciated value over the last 3 years. Certain areas have risen far above normal.

"You don't know exactly where the market is going to go, nor can you control it. Looking at real estate through a long-term perspective provides a much better understanding than any one snapshot moment in time." — Dave Nimick

Connect with Dave Nimick:

Website: https://thenimickteam.com/

Email: dave@thenimickteam.com

YouTube: https://www.youtube.com/channel/UC4WqeMs62CL3T5P-w6ncqbQ/videos

LinkedIn: https://www.linkedin.com/in/davenimick/

Facebook: https://www.facebook.com/thenimickteam

Dave Nimick is owner of The Nimick Team, Inc. with Keller Williams Realty

Show notes by Podcastologist: Chelsea Taylor-Sturkie

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.