TOP TRENDS & PREDICTIONS IN REAL ESTATE FOR 2014 by Lori Stephan, Broker/Owner since 1999, Country Pride Realty, Inc.
Real Estate recovery still hinges on job growth~Our Pulaski and surrounding area’s job market is becoming more steady with less unemployment. Recently, Marquis Yachts had announced that they will be adding 150 jobs within the next year! This is all great news!
Inventory is coming back~Distressed inventory is drying up and sellers are looking at better profits than they have in years. Home prices & values are inching up. Foreclosures are still a problem, it’s much less of a problem than it was in the last few years. Buyers will begin to outweigh sellers. There’s a lot of positive news about housing all over the United States.
How about mortgage rates?~Mortgage rates have been at record breaking lows. But, we never expected the ultra-low rates would stick around forever. They are still at reasonable levels but will climb in due time. 5% seems to be the average.
What loan options are available today?~You can own the home of your dreams. However, constant tightening and changing lending guidelines will be making this even more challenging starting January 2014. Credit will become one of the largest factors going forward. A 640 credit score is the benchmark rating.
Pulaski and the surrounding areas could possibly qualify for 100% financing with little or no closing costs. There are several options available including no first time home buyer requirements, no down payment or cash reserves required, no limit on gift money, fixed rate loans, up to 6% seller concession, free home warranty’s and more…of course there is flexible credit & qualifying guidelines.
The best way to approach any real estate transaction is with an experienced licensed REALTOR by your side. They’ll bring along the best in-depth market knowledge for the neighborhood where you want to buy, sell and put down roots in the Pulaski School District.
That’s why we’re here. We have one goal: To help you, our neighbor, thrive in today’s and tomorrow’s real estate market. And that will always be our goal, every week, every year. Neighbors helping neighbors.
So from all of us here at Country Pride Realty, thank you for your continued trust in us and wishing you a Happy New Year for 2014! Call us for all your real estate needs! (920) 822-HOME (4663)