Expert Insights on the 2020 Housing Market
When closing out another year, it’s normal to wonder what’s ahead for the housing market. Though there will be future inventory issues, we expect interest rates to stay low and appreciation to continue.
Here’s what three experts are saying we’ll likely see in 2020:
“I think the biggest surprise from the forecast is how long the market is staying in this low inventory environment, especially as Millennials are in a major home-buying phase…sellers will contend with flattening price growth and slowing activity with existing home sales down 1.8%. Nationwide you can look to flat home prices with an increase of less than 1%.”
“Interest rates will, on average, remain lower…These lower rates will in turn support both purchase and refinance origination volume in 2020.”
“If current trends hold, then slower means healthier and smaller means more affordable. Yes, we expect a slower market than we’ve become accustomed to the last few years…consumers will continue to absorb available inventory and the market will remain competitive in much of the country.”
As we can see, we’re still going to have a healthy market. It is forecasted to be a more moderate (or normal) market than the last few years, but strong enough for Americans to continue to believe in homeownership and to capitalize on the opportunities that come with low interest rates.
If you’re wondering what’s happening in our local market, let’s get together today.
i) Raw land- Many lenders are not willing to lend money to purchase raw land. In addition, there are many other thing to consider such as whether the land has access to public utilities (electric, water or sewer) or if the land will support a septic system. A perc test and survey will need to be done as well. For other considerations, visit:http://www.streetdirectory.com/travel_guide/4584/home_improvement/getting_raw_land_not_a_raw_deal.html
In my last blog, I explained what I like about real estate. This blog explains why my buyers and sellers like me. I definitely go out of my way for my clients. How do I go above and beyond you ask? Read on to find out…
1. I work hard- I have trimmed hedges for clients and weeded their lawns. I have moved 100 photos from someone's walls then spackled and painted them. I have staged, rearranged and moved furniture. I have called around to the whole neighborhood to invite people to an open house.
2. I hold their hands– This is especially important with 1st time home buyers. I provide them with a list of steps and what to expect during the home buying process and give them an idea of their estimated costs.
3. I provide numbers- I offer free market value analyses (MVAs) for sellers. My MVAs are pretty accurate, as I have attended workshops hosted by professional appraisers. I know how much extra a house with a finished basement costs versus an unfinished one, or a house with 4 bedrooms as opposed to 3.
4. I am fair and honest- I am never going to go MIA. I provide frequent communication and have a thorough list of vendors (inspectors, contractors, mortgage reps, attorneys, etc.) clients can work with throughout the home buying or selling process.
Here are a few testimonials from my past clients:
"Our realtor, Anne-Marie Tustin, was nothing short of excellent in helping us find our dream home. We can't say enough good things about her quality of work. She really took the time to understand our "must-have's" and took into account our budget and quick timeline. She showed us a wide variety of homes and ended up finding us a house that was exactly what and where we wanted. In addition, as first time home buyers, she was always available to answer any and all questions. She guided us through the process and had great recommendations for our mortgage consultant and lawyer as well. She made the process incredibly easy. We love our new home and do not plan to leave, but would definitely recommend Anne-Marie to anyone looking to buy or sell." Nico C.
"We have been extremely satisfied with Anne-Marie's services as a realtor. She first helped us sell our house which had many challenges and once we sold our house she helped us in finding our new house. She is a wonderful person and realtor. I would highly recommend her as a realtor."Mark M.
"Anne-Marie is very knowledgeable in the real estate field. Her knowledge and professionalism guided and helped us close the deal in a timely manner. Her willingness to take the extra steps above and beyond what's required is what sets her apart from other agents I have dealt with. I would definitely work with her again in my future real estate [investments] transactions. [She] is a great agent to work with. Always punctual, responds very quickly to questions and e-mails. We are very satisfied with her service." J. and J. L.
"Anne-Marie was very helpful throughout the process of renting my apartment. I highly recommend her." Isabelle D.
For more information about me and the services I provide, call, text or e-mail me and see for yourself!
Licensed in NJ & PA
Keller Williams Realty
100 Canal Pointe Blvd., Suite 120
Princeton, NJ 08540