Title /blog/posts/2012/12/?format=rss A blog feed. en-US Sun, 23 Dec 2012 13:12:00 -0500 What to expect in 2013! Housing Market Update https://www.wandamooney.com/blog/posts/2012/12/23/what-to-expect-in-2013-housing-market-update/ <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> <span style="color: #333333;font-size: 11.0pt">I came across a very good article in regards to the 2013 housing market that I think is very accurate and offers good tips for both buyers and sellers.&nbsp; &nbsp;&nbsp;I added some of my thoughts into the article pertaining to our local market area.</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> <span style="color: #333333;font-size: 11.0pt">Overall the housing market has stabilized and there is no reason to be fearful of further large declines in property values.&nbsp;&nbsp; &nbsp;There should be an increase of buyers looking, trying to take advantage of the continued low interest rates and low house values.&nbsp;&nbsp; This does not mean that sellers can get all excited and think they can get a lot more for their houses.&nbsp; There will be several of you that still will have a difficult time breaking even.&nbsp; It will take a few more years before we will see the values increase to levels of 2005-2007.</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> <span style="color: #333333;font-size: 11.0pt">Pricing property is still very important.&nbsp;&nbsp;&nbsp; The majority of people buying are getting mortgages and the appraiser that is hired by the bank will have the final say as to the value of the home.&nbsp; &nbsp;</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> <span style="color: #333333;font-size: 11.0pt">If you want to buy, you have to be ready to make an offer.&nbsp; If it's a new listing a low offer will not be beneficial to you.&nbsp; However, if a home has been on the market for a while you might be in a better position to negotiate.&nbsp; &nbsp;It all depends on the property and the seller's motivation.&nbsp;&nbsp; Your buyer's agent will research the situation and guide you along as to the best way to proceed.</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> <b><span style="color: #333333;font-size: 11.0pt">Here are a few things to watch in 2013 that could change the housing market:</span></b></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> <b><span style="color: #333333;font-size: 11.0pt">Fed chairman Ben Bernanke</span></b> <span style= "color: #333333;font-size: 11.0pt">is lifting housing by buying bonds to keep mortgage rates low. How much longer can he keep that going?</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div style= "background-color: white;line-height: 19.5pt;margin: 0in 0in 0.0001pt;vertical-align: baseline"> <strong><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in"> The loss of mortgage deductions.</span></strong><span class= "apple-converted-space"><b><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in">&nbsp;</span></b></span><span style="color: #333333;font-size: 11.0pt">Should the tax break on mortgage interest get cut, &nbsp;it would throw cold water on the real estate recovery.</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div style= "background-color: white;line-height: 19.5pt;margin: 0in 0in 0.0001pt;vertical-align: baseline"> <strong><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in"> Sellers sit on the fence.</span></strong><span class= "apple-converted-space"><b><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in">&nbsp;</span></b></span><span style="color: #333333;font-size: 11.0pt">Homeowners could remain on the sidelines as the ranks of buyers grow. In that case, the inventory of homes would shrink even more, lifting prices faster than expected.</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div style= "background-color: white;line-height: 19.5pt;margin: 0in 0in 0.0001pt;vertical-align: baseline"> <strong><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in"> Homeowners get bullish.</span></strong><span class= "apple-converted-space"><b><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in">&nbsp;</span></b></span><span style="color: #333333;font-size: 11.0pt">A spate of home construction is already taking place in several major markets. In those regions, the housing stock is likely to stabilize, keeping price gains modest.</span></div> <div style= "background-color: white;line-height: 19.5pt;margin: 0in 0in 0.0001pt;vertical-align: baseline"> <strong><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in"> Banks loosen their grip.</span></strong><span class= "apple-converted-space"><b><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in">&nbsp;</span></b></span><span style="color: #333333;font-size: 11.0pt">If tight lending standards return to historical norms, realtors argue, the market could see an additional 500,000 to 700,000 home sales next year.</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div style= "background-color: white;line-height: 19.5pt;margin: 0in 0in 0.0001pt;vertical-align: baseline"> <strong><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in"> Employer confidence rises.</span></strong><span class= "apple-converted-space"><b><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in">&nbsp;</span></b></span><span style="color: #333333;font-size: 11.0pt">Since jobs are the engine of the housing market, a pickup in hiring later in the year, which economists are predicting, could accelerate a real estate rebound in the second half of 2013.</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div class="MsoNormal" style= "line-height: 13.5pt;margin-bottom: .0001pt;margin-bottom: 0in;vertical-align: baseline"> <span style="font-family: Arial, sans-serif;font-size: 8pt">This information is taken from the article - Real estate: Find opportunity next year</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> <span style= 'color: #666666;font-family: "Arial","sans-serif";font-size: 8.0pt'> By Carla Fried, CNN Money</span></div> Uncategorized Sun, 23 Dec 2012 13:12:00 -0500