There
is great news on the real estate horizon lately and it directly impacts our
local marketplace. Right now, I’m coming to you from the Mike Ferry
Organization’s conference in sunny San Diego. This is where the country’s
top-producing real estate agents get together to compare notes, learn about
national real estate trends and most importantly, take away some amazing points
from real estate guru Mike Ferry.
Here’s
what we are seeing in our local marketplace:
Housing Market
Recovery Expected to Accelerate in 2013
We
saw a very strong year in real estate in 2012. The trends of increased buyer
demand coupled with fewer seller hang-ups helped to further accelerate our
housing market recovery process. There were a lot more sales on record and the
average days on market was also faring well for our region.
Historically Low
Interest Rates Continue to Dominate the Market
For
over eighteen months now we have been seeing interest rates that have never
before been available in the history of the housing market. Currently with
mortgages available as low as 3.25% for the qualified buyer, buyers can expect
very affordable monthly payments.
Pent Up Buyer
Demand Will Propel the Housing Industry
First
it was the Presidential election, then it was the holidays and after that
uncertainty about the Fiscal Cliff loomed in the air, leading to buyers not
venturing into the market. But now all that is past us and we are reporting a
lot more buyer activity. All the pent up demand is creating and will continue
to create very positive trends moving forward.
Sellers Are Getting
Multiple Offers and Prices Expected to Rise By Summer
Buyers
are not the only ones enjoying the real estate arena these days. In fact, for
the first time in a while sellers are also gaining confidence. With buyers
often unable to find what they are looking for – the end result is multiple
offers that sometimes end up in price wars. It is predicted that by end of
summer prices will start to rise.
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If
you have been on the fence about buying your dream home – now is the best time
to get in on the action. With interest rates as low as they are and prices
still reasonably low, you can easily find a very affordable home with lots of
great amenities.
As
I mentioned in the video, five years from now you will be very glad you bought
a home at this time – that by then will have generated a good amount of equity!
Contact
us today for a customized consultation so we can help you find your dream home!
