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2014 Market Conditions: What’s coming for our Market?

By Kristi Fox Satsky in Blogs.

2014 is here and it has definitely started off with a bang!  Homes are moving now that have been on the market for months. Even years!  We’re already to the “Sold In 1 Day” market and that’s usually not seen until May!  In January!  The scare of an interest rate increase, combined with tax refunds coming have certainly gotten buyers buzzing.  Lighter lender requirements have buyers ready, willing and finally able to purchase!

Have you been thinking about buying a new home or selling your current one? If you’ve driven around Bryan or College Station recently, I’m sure you’ve seen that you may not be the only one considering it! In the last week alone, I’ve worked on eight new listings!  That means inventory is coming, which is good news for those buyers who have just not been able to find what they love yet!

Did you know that the housing market has steadily been improving over the last few years?  With interest rates still at historically low levels and home values increasing, home ownership is still an affordable dream. In fact, 61% of Americans believe in the financial benefits of owning their own home!  Now is the perfect time to dip your toes into the water and see what options are available to you!  There are options for buyers such as down payment assistance and MCC Tax Credits with rebates of up to $2,000 per year!  We have lenders who will work with credit scores of 600 or higher, and programs are popping up every day which give buyers incentives and gets them into new homes! As if being a homeowner wasn’t incentive enough!

If you’re considering entering the market, consider the following:

Even though many predicted soaring interest rates for 2013, the fact is that 30-year fixed mortgage rates have stayed between 4.3% and 4.6% for most of the year and into 2014.  Even with the expectation of an increase, buyers are still looking for homes like yours!  In 2013, we saw home prices post the largest gains since 2006, but they’re still considered affordable in most areas of the country. Especially in the Bryan-College Station area.  Owning a home comes with plenty of benefits, including potential tax deductions, the potential to build personal wealth over a period of time and the advantage of having your own space.

There are definitely benefits to selling right now too!

Did you know that real-estate experts are predicting that the higher the mortgage rates get, the demand will increase as buyers are driven to purchase before rates increase? National home values are expected to increase by as much as 5% over the next six months. Typically Bryan-College Station beats out the National average.  The competition between buyers might mean that your home could close for the asking price or more. Especially with the a little bit of staging and an attractive price!  If your family or life situation has changed, you may even be ready for an upgrade!

If you’re ready to buy or sell, I’m ready to help you! Give me a call and we’ll find the right home to fit your needs!  I can help you custom build your dream home, upgrade to a bigger or newer space, downsize or just get something different all at no cost to you!  And if you have a home to sell, I have some great deals to discuss with you about how I can help you get your home sold and help you buy a new one while saving you time, stress AND money!  Give me a call today to start Unlocking Your Dreams, One Key at a Time!