Park Place Realty Network

U.S. Office Market Coming Back Investors are reentering the market to buy half-empty towers and premium buildings burdened by debt, while others are bidding on obsolete office properties that they can convert into apartments. Later in 2025, foreign investors could reenter the market, bringing with them a larger surge in sales volume. In 2024, the volume of office building sales rose by 20% from a year prior to $63.6 billion, marking the first increase in sales volume since 2021, the data firm MSCI data found. However, the sales activity is still far lower than the 2015 to 2019 volume average of $142.9 billion per year. #ParkPlaceNetwork #CommercialRealEstate #CCIMagents

Mortgage Applications Jump Mortgage applications rose 11.2% as rates fell, with refis up 16% and purchase applications up 7%, per MBA's latest survey. #ParkPlaceNetwork #realtor

Today is Park Place’s 15-year Anniversary!! Thank you to all of our 1,300+ Active Park Place agents, we could not have done it without you. #ParkPlaceNetwork #thankyou

Mortgage Rates Dip Again Rates on 30-year mortgages fell to 6.63%, marking a seven-week decline. Borrowing costs on 15-year mortgages fell to 5.79%. #ParkPlaceNetwork #homebuyer #realtor

Buyers, Agents Watching Rates in 2025 Today's rates are far from record highs, which peaked at 18.63% in October 1981. Agents are overwhelmingly optimistic about the 2025 market. Even as real estate agents express optimism for the housing market in 2025, a new study from Clever Real Estate found that about 42% of homebuyers still expect mortgage rates to be a challenge. With rising prices, two-thirds of buyers worry they'll have to delay their home purchase. #ParkPlaceNetwork #realtor #homebuyer

30-Year Mortgage Average Rate Slips to 8-Week Low to 6.85% The average rate on a 30-year mortgage in the U.S. eased for the fifth week in a row to its lowest level since late December, a welcome boost for prospective homebuyers in what's traditionally the busiest time of the year for home sales. #ParkPlaceNetwork #homebuyers

IRS Extends FL, GA & NC Tax Deadline All taxpayers in the entire states of Alabama, Florida, Georgia, North Carolina and South Carolina and those in parts of Alaska, New Mexico, Tennessee, Virginia and West Virginia will have until May 1 to file their 2023 returns. For these taxpayers, May 1 will also be the deadline for filing their 2024 returns and paying any tax due. #ParkPlaceNetwork #Realtor

Flashback to 1995 in the Housing Market vs Today At 4.06 million, the annual pace of 2024’s existing-home sales was the lowest number recorded since 1995, when it was 3.85 million. The headwinds for the 2024 housing market were severe, but 2025 is already showing signs of encouragement. Home sales activity for the end of 2024 showed rapid signs of improvement. Interest rates are lower than one year ago, and the market has added inventory. #ParkPlaceNetwork #realtorlife

U.S. Homes Hit Record for Extra Bedrooms The trend in increasing number of excess bedrooms is driven by both declining household sizes and by an increase in the number of bedrooms per home. #ParkPlaceNetwork #homebuyers #realtor

Mortgage Rates See First Dip in Six Weeks The rate on 30-year mortgages fell to 6.96% from 7.04% last week, Freddie Mac said. Borrowing costs on 15-year mortgages dropped to 6.16% from 6.27%. #ParkPlaceNetwork #homebuyer #realtor