2015 Real Estate Outlook
Happy New Year! We are wrapping up the first full week of 2015 and I have spent much of it contemplating and planning for the months to come. 2014 was really an amazing year. We were able to help so many families and individuals realize their real estate goals and get one step closer to their dreams. That’s what this business is about, realizing the dreams of your clients and working with them to get them as close as possible. My husband posted an article regarding the market outlook for this year that I found interesting enough to share. NPR published an article earlier this week with Real Estate predictions for home buyers in 2015. The article noted 4 reasons to be optimistic and 1 item of concern. Things overall are looking up!
The article starts by stating that employers are hiring again and the unemployment rate is shrinking. Price increases have also slowed down a bit when compared to 2013. We are moving away from the quick recovery in our market and have shifted into the new normal where there is a healthy increase in value that is hopefully sustainable. Millennials are also thinking it is time to buy and move out of their parents’ homes or stop renting. With employment looking more stable, the time may be right to take the next step towards home ownership. It also helps that rental rates are really high. The rental market had a huge bump during the foreclosure boom when all the folks losing their homes needed to start renting again and there was a shortage. It is amazing how high the rental rates are in some areas, and even more amazing that people pay them.
Mortgage payments are really affordable. There are so many loan programs available now and possible down payment assistance options for buyers that may be a bit short on cash. While mortgage rates are still this low, it makes total sense to make 2015 the year to buy your first, second,or third home.
The one item for potential worry is the possibility of interest rates increasing. They have been low for so long, eventually they will increase, but they are still under 4.5% at the moment!
Check out the full article here and let me know what you think: http://www.npr.org/2015/01/05/374232461/housing-in-2015-four-reasons-for-optimism-and-one-for-worry?utm_source=facebook.com&utm_medium=social&utm_campaign=npr&utm_term=nprnews&utm_content=20150105
If you are on the fence about buying, 2015 is the perfect time to make it happen! Stop paying someone else’s mortgage payment and invest in your own future. There is no better time to start realizing your dreams than right now! Let’s meet this month to get a plan in place.
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