Most people have been keeping a close eye on the real estate market waiting for the right time to buy/sell their home but the market has been shaky and with this roller coaster ride for the past couple of years and we have all been thinking "maybe next year." For those of you still undecided, here are some interesting market projections from some of Real Estate's most trusted advisors.
5 Real Estate Trends to Watch:
-Short term slump: Yes, the market is down and it will not correct itself right away. Do not expect prices to shoot back up, but they WILL move up.
-Overdevelopment: Urban Sprawl is a big reason for the bust. People kept building homes with the idea that demand will be there. Thanks to the laws of supply and demand, Houses > People = lower home values.
-Jobs: keep an eye on the unemployment rate in your area. If it continues to drop you will notice that larger companies are moving out and into more stable cities.
-Lifestyle: People are moving now more than ever to seek better opportunity, however, people move to places not only with better markets but better weather, leisure, or cost of living, which usually turns out to be the better markets.
-Government Regulation: We have seen the government try to step in and fix the economy and there is legislation in place to help people forestall foreclosures, reduce mortgage debt, and help refinance to get back on their feet.
These are simple trends to note in a recession and if you play it right you can be successful in the housing market.
-Bill Allen
RE/MAX of Boulder
ballen@boulderco.com
303.570.9814
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