The market is stable and steady with lots of transfers. We are looking at a sideways market direction for the next six to 12 months with a premium during the Spring selling season. With a great stock market and rebounding regional real estate market many homeowners are experiencing increased equity as well as in their 401K’s. Todays prices are approximately 10-15% from the top of the hey days of 2004 and 2005. This time around we have worked through the cycle in a much more orderly manner and the experts expect a nice five to ten year growth spurt because of supply and demand pressures brought on by the wave of BabyBoomers that are still experiencing additional discretionary income, significant inheritances and low interest rates.
This is the time to look at this opportunity (3.875% interest 30 year fixed rate mortgage, $475. month per $100,000.) while the rates are still at historic lows.
This is the time to look at this opportunity to move up before the prices continue to rise and the larger properties will increase more at the same appreciation rates. Next year will a great time to both buy and sell. Good clean homes will get top dollar. On a different note, I have a couple sellers would like to trade real estate for their Sea Isle City townhouse. This doesn’t always work out but I have put together many deals that were win-win for all parties. Contact me to determine if you have a property (anywhere in the Continential United States) that could work for someone.
Below are a few free newsletters I have included with my blog:(By the Numbers is my favorite.)
Thank you and I hope you share it with people who might be interested. Many of you own your properties with spouses or partners so please send me there email addresses and I can send them to them each month as well.