Home News Real estate’s Kirsten Jordan on today’s selling urgency amid recession fears: ‘Affordability crisis’

Real estate’s Kirsten Jordan on today’s selling urgency amid recession fears: ‘Affordability crisis’

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More and more Americans are looking to sell their homes given the economic situation. We are technically in a recession right now.

Last week, Google said,sell my house fastAccording to RubyHome,” surged 2,750%.

Former ‘Million Dollar Listing’ Star and Real Estate Broker Kirsten Jordan Joins “Fox & Friends” On Thursday, we’ll discuss what’s behind the urgency of the sale.

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It all starts with a universal question in an uncertain market, she said.

Former “Million Dollar Listing” star and real estate broker Kirsten Jordan joined “Fox and Friends” Thursday morning to discuss home sales. (Fox News/Fox News)

“Rather than just being supply and demand In normal dynamics…at this point, it’s becoming an affordability crisis,” she said.

Redfin noted that 60,000 home-buying deals failed in June 2022, with Americans backing out at the highest rate since the start of the pandemic.

Jordan noted that buyers are not only factoring in home prices, but also significant increases in mortgage interest rates and monthly payments.

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“Everything has to be reconciled,” she said.

Selling with multiple offer signs

A “for sale with multiple offers” real estate sign near the purchased home is shown in the desired neighborhood. (iStock/iStock)

Brokers said buyers have already started to take advantage of negotiability as they watch sellers slash prices.

“And sellers have to enter the market with realistic pricing and make sure they sell their homes now,” she said.

Jordan speculated that the motivation for the sellers was fear creeping in from the recession talks.

Former “Million Dollar Listing” star and real estate broker Kirsten Jordan spoke with co-host Will Kane on “Fox and Friends” on Thursday. (Fox News/Fox News)

The broker explained that sellers want to know what it takes to sell their homes as high-value assets while the rest of their portfolios take a hit.

“We see a lot of questions and we get a lot of calls — ‘What is my place worth?’ We’ve shared some of the most common questions to ask.

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“And it just shows that everyone is listening.”

homes for sale

A house on the market has a “for sale” sign in front of it. (iStock/iStock)

Jordan reminded buyers that buying a home is a “long-term” investment and that decisions should be made around their needs.

“You can always refinance later. You can improve that property — and a lot of buyers don’t think about it,” she said.

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“But the truth is, planning for the future is key. [to] Be a long-term real estate investor. ”

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