A Note From Jess Watts April 2024
There is no place like home.
I had several questions about the NAR Ruling last month, but the most prevalent was— WHEN? It looks like things are getting sorted out now, and we expect a roll out to occur in July. I anticipate the change to impact the fall market. I don’t know HOW yet either. We will know more in July.
Real Estate is still moving slowly, in large part to the low inventory levels. The Fed is planning on doing at least one more cut this year (but cuts won’t be as significant as previously thought and will occur much later in the year). President Biden discussed a package during the State of the Union, that is currently in Congress that could ease the burden on buyers and sellers in the form of tax credits.
This proposal would put restrictions on Hedge Funds to buy up real estate, and would give new home buyers a 10K Tax credit (in addition to the tax ride offs home buying already provides). A 10K tax credit would also be available for homeowners who sell their starter homes to jump into a bigger home. This could bring an interesting shift to the market— especially in light of the NARS ruling.
It is only in initial phases, and would have to pass Congress and then the Senate. I will keep you updated on anything I hear!
If you are around THIS SUNDAY, April 21 I will be a vender at Bedford 2030’s Earth Day Festival. I will be talking about TREES. Their energy saving benefits, and their ability to help sell your home. I will also have little projects for the kids to take home. I hope to see you! I have attached the vendor list below. Please know, that Sweet Earth Co, will be joining me at my table! Hope to see you!!
I also have the following events coming up, so SAVE THE DATES:
May 21: Sustainable Outdoor Space, Yellow Studio with Sweet Earth Co.
June 8: Co- Chairing the Westchester Land Trust Gala with Jennifer Wege (Northern Westchester Moms). Joining us as an Honorary Chair is Martha Stewart.
xo,
Jess
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