HOUSING IN 2017

WHAT SHOULD WE EXPECT IN 2017 FOR THE HOUSING MARKET? INTEREST RATES INCREASED IN DECEMBER AND THERE IS EVERY INDICATION THAT THIS TREND WILL CONTINUE FOR AWHILE. DONALD TRUMP, THE CANDIDATE DID NOT REALLY DISCUSS HOUSING. HE FOCUSED MORE ON JOBS, HEALTHCARE, GOVERNMENT REGULATIONS AND IMMIGRATION.

WE ALL KNOW THAT DONALD TRUMP MADE ALOT OF HIS MONEY THROUGH REAL ESTATE. HE BELIEVES IN IT; HE OWNS IT AND HIS NAME IS EVERYWHERE. HIS CHILDREN OWN HOMES AND HIS DAUGHTER IVANKA AND HER HUSBAND ARE RELOCATING TO WASHINGTON,DC AND HAVE ALREADY PURCHASED A HOME THERE FOR THEIR YOUNG FAMILY.

WHEN PRESIDENT OBAMA RAN, THE HOUSING MARKET WAS SEEING A SURGE OF SHORT SALES AND FORECLOSURES. IT TOOK A LONG TIME, WELL INTO HIS PRESIDENCY BEFORE WE SAW SOME STABILIZATION. SOME MARKETS HAVE COME BACK PRETTY STRONG AND THOSE TEND TO BE NEAR THE COAST...SAN FRANCISCO, SAN DIEGO, MIAMI TO NAME A FEW. OTHER MARKETS HAVE SEEN DEPRECIATION OR STAGNATION.

WE ALL KNOW WHAT SELLS HOMES. A COMPETITIVE PRICE, A HOME IN GOOD REPAIR AND THE COMMITMENT TO UPDATE WHERE NEEDED. SOMEONE IS ALWAYS LOOKING TO BUY A HOME EVERY SEASON OF THE YEAR. JOB TRANSFERS, DOWN-SIZING, A DESIRE TO STOP RENTING ARE JUST A FEW REASONS. IN MANY AREAS OF THE COUNTRY, THERE IS A SHORTAGE OF HOUSING BOTH TO OWN AND RENT. OTHER AREAS ARE MORE COMPETITIVE FOR SELLERS AND THEY SEE LONGER DAYS ON MARKET TIME.

WITH INTEREST RATES RISING, LESS SELLERS ARE RE-FINANCING. NOW IS THE BEST TIME TO BUY BEFORE WE DO SEE HIGHER RATES WHICH AFFECTS BUYER QUALIFICATION. USE A PROFESSIONAL, FULL TIME REALTOR TO ASSIST YOU. ASK TO SEE WHAT COMPARABLE HOMES HAVE SOLD FOR IN THE PAST YEAR OR YEAR AND A HALF. MAKE A FAIR OFFER. MAKE SURE YOU HAVE YOUR PRE-QUALIFICATION OR PRE-APPROVAL LETTER BEFORE YOU BEGIN TO LOOK.

OUR GOAL AS REALTORS IS TO CONTINUE TO FIGHT FOR LOWER CLOSING COSTS; THE MORTAGE INTEREST TAX DEDUCTION AND FAIR TAXES. IF YOU ARE A HOMEOWNER, I HOPE YOU WILL MAKE THAT YOUR GOAL ALSO.

Dolores D. Olds

Dolores D. Olds

Licensed Associate Real Estate Broker
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