The Housing Market is Almost Back to Normal
The financial and economical crisis is long gone. With the national currency on the rise and the number of foreign investors surging, the US economy is experiencing an economic boom that has taken everyone by surprise. The good news continues to come, especially in the real estate market.
More and more people choose to invest in a new property and are willing to relocate.
“Nothing will ever be attempted, if all possible objections must be first overcome.” — Samuel Johnson
If you are thinking of following in their footsteps, here are some things you need to know about investing in properties.
Investment Definition
Investing in a real estate property is the process of investing money in order to get profit. Whether you choose to relocate or you wish to buy a new office building, you are investing money to get an invaluable asset.
You need to understand the investment purchasing procedure. If you are purchasing a new building or property, the procedure is similar in most of the states:
– Research to find the right location for you.
– Find the desired property at an affordable price.
– Negotiate
– Sign a preliminary contract and make a verbal agreement.
– Let the lawyer do the official paperwork.
– Sign the notary deed in front of both the buyer and the seller.
Real Estate Trends in 2015
According to a recent study conducted by Trulia, the US housing market is about 75% back to normal. Some sources even say that the market is stronger than ever before. Here are some real estate market trends in 2015 that will definitely guide the buyers and the sellers through the daunting process of buying or selling a property.
– The demographic wave will boost prices: thanks to the baby boomers from the past decade, now most of the population is made of 23-years old teens. Most of them will start getting married and will probably look to buy homes of their own. If you are part of this generation, you should probably seek for advice about purchasing your first rental home.
– Mortgage rates will continue to rise: most economists agree that mortgage rates will surge this year on the back of an improving economy.
– Home price will rise: because of this trend, new families have to consider the following questions: “Should I buy an investment property or rental home?”.
Wrap up
To wrap things up, the housing market is almost back to normal, with new opportunities emerging for both investors and homebuyers. If you are looking to buy a home, now it’s the best time. At the end of the year the price might go up to 10% in some areas.