As 2014 begins, the residential real estate market is set-up
for another strong year. A few of the
real big drivers for 2014 will continue to be new home construction and the low
number of foreclosures. The effect of
these will be continued price appreciation which will minimize many investor
purchases. With this said, those
investors seeking long term investments will find residential real estate
attractive as the market is trending up with signs it will continue for some
time.
With the vast majority of homes being purchased as principle
residences, the local economy will benefit;
New Jobs—New home construction
is a huge economic driver for our area. When new homes are built people are
hired to build these homes and to staff the companies who provide the
materials.
Seller Relief—Sellers who put
off selling because they were upside-down may very well be able to sell now
that their home has increased in value.
These sellers are now in a better financial situation.
Buyer Options—Some buyers
actually had to put-off buying in 2013 as they could not find what they
wanted. With more listings now coming on
the market, these buyers will have success.
For more information about how this is the time to buy, contact me at dhatch@erashields.com
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