Real Estate Expert Offers 2018 Predictions
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Real Estate Expert Offers 2018 Predictions


HIGH PRICES, LOW INVENTORY, AND TAX CHANGES. WHAT’S IN STORE FOR BUYERS AND SELLERS IN THE NEW YEAR? SARAH PICKENS IS HERE TO SHARE HER PRICKS. THANKS FOR HAVING ME. THIS IS A HOT TOPIC OF COURSE. I THINK A LOT OF PEOPLE WANT TO KNOW WHAT HOME PRICES ARE GONNA LOOK LIKE INTO THE NEW YEAR. I DEFINITELY THINK THEY’RE GONNA CONTINUE TO GO UP. THEY HAVE BEEN GOING UP CONSECUTIVELY IN TWIN CITIES FOR A LONG TIME. WE’RE UP AT ABOUT 6.5% FROM LAST YEAR AT THIS TIME. AND NATIONALLY THEY’RE THINKING WE’RE GONNA GO UP ABOUT 3% THIS YEAR. A PRICE INCREASE BUT NOT QUITE AS MUCH AS WE WERE SEEING. WHAT ABOUT MORTGAGE RATES? THEY HAVE BEEN HISTORICALLY LOW. THE RECENT TAX IMPLICATIONS HAVE MADE THEM GO UP JUST A TID BIT ALREADY. THAT DID HAVE SOME EFFECT ON THEM. BUT WE DON’T SEE THEM GOING UP DRASTICALLY. SOME EXPERTS ARE SAY THEY’RE GONNA GO UP TO 4.5% BY THEN OF YEAR. THAT’S STILL SUPER LOW. YOU MENTIONED TAX CODE CHANGE. WHAT COMLIKS WILL HAVE THAT IN THE 2018 HOUSING MARKET? THE BIGGEST THINGS THAT I’VE COME ACROSS FROM THAT TAXING ARE GOING TO BE THE CAP ON THE $10,000 DEDUCTION. AND MORTGAGE INTEREST, ONLY UP TO $750,000 FOR THE PRIMARY AND THE SECONDARY HOMES THEY HAVE. REALISTICALLY, BOTH OF THOSE THINGS ARE GOING TO AFFECT PEOPLE. BUT MOSTLY HIGHER END, NEW YORK AND CALIFORNIA WHERE THE PURCHASE PRICES ARE SO MUCH HIGHER. THE TWIN CITIES HAS BEEN TOUTED AS A SELLER’S MARKET, DO YOU SEE THAT GETTING ANY BETTER? I DEFINITELY THINK WE’RE STILL GONNA HAVE THAT LOW VETERAN. IT’S STILL GONNA BE A GREAT SELLER’S MARKET AS WE MOVE THROUGH 2018. AND THAT INVENTORY THAT YOU HAD MENTIONED IS THE REASON. WE’RE USUALLY RUNNING 20,000 IN INVENTORY. RIGHT NOW WE’RE RUNNING AT ABOUT 8,000 TO 9,000 LISTINGS. SO THAT IS CAUSING THE DEMAND TO STAY HIGH AND MAKE IT A GREAT SELLER’S MARKET. FOR BUYERS, YOU’RE GONNA HAVE TO WORK WITH AN EDGE, ABLE TO FIND YOU SOME — AN AGENT. BOTTOM LINE, BUYERS AND SELLERS, WHAT SHOULD WE BE DOING? BOTH NEED TO BE READY. THAT SPRING MARKET IS ALMOST UPON US. REACH OUT TO A REALTOR AND GET ADVICE. IF YOU’RE A SELLER, YOU NEED TO GET IT READY, SET IT UP AS A PRODUCT. AND YOU WANT A REALTOR TO COME OUT AND TELL YOU WHAT TO DO SO YOU’RE NOT MAKING UNNECESSARY FIXES. AND ALSO THE FIXES THAT YOU’RE DOING ARE TARGETING YOUR MOST HIKE HE BUYER. IF YOU’RE A BUYER, IT’S TIME TO GET EDUCATED ABOUT MARKET. UPON WHAT THINGS ARE SELLING FOR, HOW QUICKLY. AND THE REALTOR CAN GET YOU IN TRUST WITH A LOCAL LENDER. YOU NEED THE PREAPPROVAL LETTER TO BE COMPETITIVE. IT MAY SEEM LIKE SPRING IS FAR OFF BUT THERE IS A LOT TO DO. YEAH, FOR SURE. THERE’S LOTS OF TIME TO GET READY HERE. REALISTICALLY OUR SPRING MARKET KICKS OFF IN FEBRUARY WITH THE PARADE OF HOMES RIGHT AFTER THE SUPER BOWL. THAT’S ONLY A MONTH AWAY. WITH THE LITTLE PROJECTS TO DO, MAYBE YOU HAVE TO GET YOUR FINANCES IN ORDER, SO THOSE ARE THINGS WE WANT TO START

3 Comments

  • Seer Guru

    What a debate . I see slim inventory but top end slower or what I see is people over pricing then do one increase and get it sold . Good for first half of year

  • American Mortgage & Equity Consultants, Inc. - AMEC Maple Grove Branch

    Let's get people in houses! AMEC is happy to help with your Mortgage. Contact me at 763-443-9527.

    Mark Hesser
    Branch Manager

  • Haider Ali

    Wow! What half-wit moron would get a rep from real estate company to comment on this. Getting Re/Max to comment on housing market trend is like getting a home security company to comment on home burglaries trend. Think, news agency. I hope your viewers are smart enough to understand this "Advise".

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