Short Sales and Foreclosures are still here, but may go away because inclidng markets don't demand them. As to new homes, inventory will still need to increase during 2014 and second homes and investors will increase. Inventory is needed, which makes for a happy dance for sellers!
Other Tips and Tidbits:
Savvy Sellers know a CMA (Comparative Market Analysis) is needed to put their property in the best pricing. So what is a PPA (Property Purchase Analysis)?
Buyers will want one from their agent to assist them in making a fair offer for the property they are considering.
Tax Time: Make sure you are taking advantage of your deductions for
buying and selling.
Crystal Ball ? Truth or Fiction?
A. Some predict rates will rise in 2014 due to more activity in the housing
market and because of a stronger global economy.
B. Treasury rate to rise to 3.1 – 3.3, and 30 year mortgages currently at 4.45% could rise to 5 – 5.5% by the end of 2014.
C. Inflation-Maybe about 1.8-1.9%
D. Median home prices nationally up about 16%?
E. National Unemployment could be as low as 6.8%
