PDX Real Estate 142: Panel Discussion - The Effect of Rising Interest Rates on Buyers and Sellers in Today’s Real Estate Market

According to CNBC, today, buyers are paying 37% more for their
payments on the same house because of a combination of higher
interest rates and higher housing prices over last year. Diana
Olick, CNBC Real Estate Correspondent says although closings and
pendings have not changed, lockbox activity is down by 19%
nationally for the month, an indicator that things are changing.


With inflation the highest it’s been since 1981, we’re seeing
interest rates back up to where they were in 2009.

So how are these higher rates affecting the real estate market?


Brittany Gibbs is the Principal Broker at Move Real Estate with
25 people at her Brokerage and 15 team members. She’s been in the
real estate industry for eight years and is the mother of two
little boys ages four and five.  


Heather Robbins has been selling real estate for approximately 20
years. She owns Robbins Realty Group, a small boutique brokerage
in her hometown of West Linn with her mother, who has been her
partner and mentor in the business from the beginning.


Kim Gellatly got her real estate license right out of college.
She’s been selling real estate for 18 years and is the Principal
Real Estate Broker at Berkshire Hathaway HomeServices with three
buyer specialists on her team and much support as a mom and
business owner.


On this episode of the Portland Real Estate Podcast, Brittany,
Heather, and Kim join hosts Joe Fustolo and Steve Nassar to share
their personal experiences with buyer and seller reactions to the
rising interest rates.

Listen in for insight into how each member of our panel is
going the extra mile to serve their clients through creative
strategies to help them realize their dreams of homeownership
while managing expectations on both sides.
Key Takeaways

How the higher interest rates are making it harder for buyers
with more competition and less inventory


How to help first time and lower price point buyers through
creative financing options


How to manage expectations for buyers who are seeing a decline in
offers
How the increase in interest rates has increased communication
between industry partners


How each member of our panel is meeting the challenge of the new
market head on


Why our panel members are optimistic about the real estate market
for the rest of 2022 and beyond
Connect with Brittany Gibbs

Brittany Gibbs on LinkedIn


Move Real Estate
Connect with Heather Robbins

Heather Robbins on LinkedInRobbins Realty
Group
Connect with Kim Gellatly

Kim Gellatly on LinkedIn
Berkshire Hathaway HomeServices
Connect with Joe

Soldera Properties


Joe on LinkedIn
Connect with Steve

Steve’s Team at Premiere Property Group


Steve on LinkedIn
Resources

Here’s How Much the Same Mortgage Costs Now, Compared to Last
Year by Mike Winters, on CNBC


The Price of a Home Sold in March Set a Record, as Inventory
Dwindled and Sales Fell by Diana Olick on CNBC
Masters in Real Estate Facebook Group