Thoughts from Jenny

2014 Housing Market

April 1st, 2014 2:05 PM by Jennifer McGuire

It is predic?ted 2014 will be the best year in housing since the Great Depression.  Is that really possible??

?I wish I could tell you, without hesitation, to go spend all you have on real estate in 2014, but I can't.

?However, if the first quarter is any indication of things to come, we are headed for an extremely good housing market this year.  In fact, our first quarter was the best we have since in six years!

What might be driving the market?  (1)  Interest rates cannot remain this low for long.  They are expected to creep up over 5% before years end.  (2)  Lenders are expected to get a little tighter with qualifying buyers for loans.  (3) Prices have leveled off vs. falling. (4)  A number of buyers have been sitting the fence waiting, they are now ready to take the plunge.

It is still a buyers market in our area, but several regions in Virginia are experiencing a shortage of available properties.  When will the shortage hit the Valley?  Who knows....

?But, if you are considering buying, or selling, now is a GREAT time!  

Posted in:General
Posted by Jennifer McGuire on April 1st, 2014 2:05 PM



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