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
- 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!
- 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.
- Prices in most areas of the Outer Banks are incredibly low because of the recession we’ve experienced.
- The inventory is low, partially because of the shrinkage in the REO side, and because demand is building.
- There’s a tremendous number of first time buyers for primary, second, and vacation homes in the marketplace because of points one through four.
- The appraisers are finally playing nice for the first time in a long time, which always makes everybody happy.
- In the U.S. there is a national election coming up in November 2016 and the market always gets better before a national election.