Real estate markets closed with strength last year, particularly in the best performing local sectors (1-3 Bedroom’s <$1.5M).
2017 is setting up to be an interesting year for anyone involved with real estate. Specifically for home owners, buyers, and sellers.
What can we expect in 2017?
> Increased Demand
From the outset, this already looks like it’s going to be a busy year for the
local markets, with demand at least continuing at its current level, if not exceeding it.
> Rate Movement Up
We saw the Fed move interest rates up for the first time in a long time at the end of 2016. Most analysts agree that this is indicative of at least a few more raises in 2017. Exactly how much this will directly affect mortgage rates is unknown. Many analysts are expecting a minimal effect.
> Faster Mortgage Turn-Around Times
Underwriting and processing times continue to improve as the rate of new regulations being introduced continues to slow.
*At Guardhill, we pride ourselves not just on our low rates and attention to detail, but we also pride ourselves on our speed. Our turnaround times have never been faster.
What should you keep in mind for 2017?
Want more insight into the market? Have specific questions?
Contact me today to discuss.
Have a great 2017!