7 Reasons Why This Is The Best Real Estate Market In 5 Years

Let’s take a moment and review why this is the greatest Real Estate market we’ve seen in the last 5 to 7 years. There are 7 very specific reasons why it is, although I’m sure I’m missing a few, which is motivating many, including your friends and family, and maybe even you, to consider buying or selling in 2015.

7 Reasons Why This Is The Best Real Estate Market In 5 Years

  1. Interest rates are extremely low and are projected to rise over the next 12 months.  3.625% now vs. 5.25% according to the Association of Realtors’ projection, which equals a 9% savings!
  2. The banks have money to lend and are lending it. They’ve had a lot of money for a long time and because of the nature of the market they are now starting to lend that money out.
  3. Prices in most areas of the Outer Banks are incredibly low because of the recession we’ve experienced.
  4. The inventory is low, partially because of the shrinkage in the REO side, and because demand is building.
  5. There’s a tremendous number of first time buyers for primary, second, and vacation homes in the marketplace because of points one through four.
  6. The appraisers are finally playing nice for the first time in a long time, which always makes everybody happy.
  7. In the U.S. there is a national election coming up in November 2016 and the market always gets better before a national election.

The Best Real Estate MarketFor more detailed information on the current state of the Outer Banks real estate market, please feel free to call Danny Denyak at (252) 256-1818 or email him at dfenyak@outerbanksblue.com.