According to a housing market forecast by Ramsey Solutions, the year 2023 is expected to bring a steady rise in home prices, with a projected increase of 5% to 6%. The demand for homes is expected to remain high, fueled by low interest rates and a strong job market. The forecast predicts that the inventory of homes for sale will continue to be low, making it a seller’s market. This means that buyers will face stiff competition and may need to act quickly when they find a home they like. The forecast also predicts that the construction of new homes will pick up, but may not be enough to meet the demand.
Overall, the forecast suggests that the housing market in 2023 will favor sellers, with rising prices and low inventory. Buyers will need to be prepared to act quickly and potentially pay more for the homes they want. Real estate investors looking to buy, sell, and rent will need to factor these variables into their processes as they invest in real estate in 2023.
LEXOTICA LLC, founded by top content creator and multifaceted entrepreneur Toochi Kash, is an 8 figure real estate investment venture that acquires, renovates, rents, and flips luxury real estate. The firm has been able to differentiate its portfolio of luxury real estate in Florida, Nevada, and Arizona due to its comprehensive services. The company has an interior design arm for the houses in its portfolio. LEXOTICA LLC’s interior design and renovation team is passionate about creating aesthetically pleasing amenities, which help beautify neighborhoods. In addition to the interior design aspect of the firm, the company also has a property management team. The property management team takes their responsibilities as landlords and property managers of the rental properties in the portfolio very seriously. They understand that their efforts directly affect the living conditions of other people, which is why they strive to keep all properties maintained and respond to any issues immediately.
Initially, the company’s main problem was that luxury rentals weren’t allowed in most HOAs, and the team ran into a lot of construction problems early on. To overcome these challenges, LEXOTICA LLC perfected its real estate underwriting and prospecting processes. This allowed the team to learn from their mistakes by doing more research on how to better pick investment properties for luxury rentals.
As inflation runs rampant across the country, real estate is more of an attractive investment option than it usually is. As everyone looks to invest in real estate, this may lead to more competition for desirable properties. Furthermore, with high-interest rates, real estate investors are less likely to get a mortgage to stretch on a property investment. This may or may not lead to more competition in the luxury arena as there is still a high percentage of cash buyers.
LEXOTICA LLC is looking to navigate these market nuances as it expands its real estate investment portfolio throughout Florida, Nevada, and Arizona. With the team’s underwriting expertise, interior design eye, and commitment to property management, LEXOTICA LLC, is sure to grow its reach in 2023.