Hi friends!

This week, we’ll look at how interest rates are affecting buyers and now sellers in the housing market, and then, if you’re thinking about looking for a great place to retire, we’ve got you covered.

If you’ve been paying attention to the housing market, you know it’s been quite a ride this year. Buyers and sellers are now skittish, as potential buyers want to avoid mortgages with high interest rates and sellers would rather stay in their current homes than sell and have to buy a new home with those same interest rate concerns–even if they want to downsize.

Buyers are seeing that interest rates are the highest they’ve been since 2008 and mortgage rates doubling since the beginning of this year, so they’re paying hundreds more a month for a house of the same price a year ago. Many people who own homes refinanced, and have a very low current mortgage interest rate, and aren’t likely to give that up for an astronomical mortgage.

Fed chair Jerome Powell sees this as a good thing as it may help to curb inflation. Because housing prices were going up at an unsustainable rate, contributing to the housing crisis, supply and demand got out of whack. He sees this as a necessary correction that will ultimately bring stability to the housing market.

If you’re looking to buy or sell a home and want some guidance, give us a call and we’ll talk through your options and timing.

There are a lot of choices when it comes to retirement, including when to do it. The “where” can be just as big a question for many people. We’ve given you advice before on renting a place for awhile before you move there, but how do you even begin to make a list? Unless you’re set on moving to where the grandkids are, you’ll likely be doing some research. Forbes has a list of the best spots to be when your work days are done, and we’ve identified some personal faves:

• Annapolis, MD. We have to love this because it’s just down the road from Obsidian HQ. Of course, it’s also beautiful, with lots of opportunities for outdoor activities, volunteering, and more.
• Gainesville, FL. No, it’s not right by the beach, but that’s part of what makes it great–it’s not overrun with tourists. Your very own weekly newsletter writer lived there for a decade and fell in love. Gainesville has a thriving art scene, lots of fun outdoor activities, and beautiful live oaks. Plus, if you really do want to go to the beach, you can get to one in under two hours (same for Disney World).
• Flagstaff, AZ. Perfect for the outdoorsy types, Flagstaff offers gorgeous scenery with a lot to do. Plus, you’ll get to experience all four seasons.
• Austin, TX. What’s not to love about Austin? Great food, live music, outdoor activities, indoor activities, and a vibrant culture. People will definitely come visit you if you move there, and you’ll be sure to make lots of new friends too.
• Bend, OR. If you want dramatic scenery, a temperate climate, and proximity to some great golfing, head straight to Bend. Oregon has a lot to explore, and you won’t have to keep around a huge wardrobe for drastic season changes.

That’s it for us this week! Get yourself a pumpkin spice latte,  and we’ll be back in your inboxes next week.

How We Help

Money can make anyone emotional, especially when it comes to estate planning. One of our clients came to us with a complex estate planning case. We met with the client’s son, attorney, and our team to discuss ownership of assets and the best ways to keep taxes as low as possible. Helping reduce the tax burden and coming up with an equitable plan helped them enable a nice family harmony instead of worrying about how assets would be distributed down the road. We love working on these sorts of solutions with our clients because making them happier is important to us!

Advisory Services offered through Obsidian Personal Planning Solutions, LLC. Securities are offered through Triad Advisors, member ​FINRA/SIPC.​ Obsidian Personal Planning Solutions, LLC, and Obsidian Personal Planning Solutions, Inc, are not affiliated with Triad Advisors.