REAL ESTATE MARKET EXPECTATIONS
What am I to expect for the Real Estate market in the near future? Will homes sell in these conditions? Will my home value decrease? Are there any buyers out there? As we see there are many predictions via all of the media outlets on Market Expectations.
Questions and Thoughts…
- Are you thinking about selling your home in the next couple of years? The Real Estate market has corrected and is changing. Most see the market decreasing up to 20% due to the current crisis plus job and economy stability. If you want to achieve the highest sale, then now is the best time UNLESS you want to wait out the decline and stick around for the upswing in the future. Now if you are thinking of selling and purchasing then you may miss the present interest rates at the lowest ever. So, the cost to wait in the long term may directly affect the value due to higher cost per month.
- Are you seeking to purchase a home in the next few months? You may have hit the jackpot of Real Estate. You will find value deals with lowest cost ever. Meaning, homes will come on and depending on the inventory in your area and competition, you may find the best deal ever. With the rates expected to be at its low, you will even capture the lowest cost to purchase a home. Meaning, rates and terms by lender are expected to be at the all-time low and great programs for W-2 and 1099 consumers.
So, what is my suggestion for the current and upcoming markets… This discussion will have to be determined on your Real Estate and Investment goals for the next couple of years. I would look at your current market for your home in the community you live in. See where you stand on value. Determine what funds and qualifications are required to purchase your next home as your next move. Then evaluate the difference if you acted today in comparison to waiting in the future.
I have had many meetings along this discussion and have discovered some great strategies for my clients. I am available for any questions you may have to see how the current Real Estate market is affecting your home and assist you on thoughts and goals for your next Real Estate move.