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Thursday, December 29, 2016

What Will the Market Look Like in 2017?

2016 was a great year for real estate, but it’s time to see what the 2017 market will look like.

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Happy New Year!

Before I get started with the new year market update, I wanted to take a moment to say thank you for working with us in the past. We look forward to helping you in any way we can in 2017.

2016 was a very exciting year for real estate, and all signs point to last year’s trends continuing into 2017.

Over the next few years, we should see a consistent appreciation. We won’t see the high peaks that we’ve seen in the past, and economists are predicting a steady appreciation of maybe 3% or 4%. This means the market will continue to grow and stay healthy.

One of the biggest problems we are facing right now is low inventory. If you are looking to sell your home, don’t wait until spring to put your home on the market. Consult with us over the next 30 days and let us get you prepped to get your home sold before the competition rises in the spring.

A hot topic in the real estate world right now is the rise in interest rates. They just went up to barely over 4%. However, historically speaking, interest rates are still very low. Now is a great time to take advantage of the market if you’re a buyer, as your house payment could still be less than the cost of renting a home.

Interest rates are still historically low.

Many people believe they have to have a large down payment to purchase a home, and that’s simply not true. There are options for buyers that you may not even be aware of, such as zero money down and 3% down options. It’s very likely that a house payment will be the same or less than a rent payment, so it’s smart to buy and build your equity instead of building your landlord’s.

If you have any other questions, please give me a call or shoot me an email. I look forward to helping you with any real estate needs.