The Jacksonville real estate market took a substantial hit a few years ago, as did the real estate market throughout all of Florida. Although real estate prices across the country as whole fell during our last recession, Jacksonville home prices, as well as those throughout Florida, fell more than most. The reason for this was that real estate values had been appreciating at a much faster than normal rate for the ten year period leading up to the recession.
For many people who are looking to buy Boston real estate, they start by taking into account whether they are financially and personally ready to purchase a home. While these are essential factors to consider, prospective homebuyers should also examine the market conditions in the Boston area in order to gain a better sense of what to expect during the home buying process.
With its temperate weather conditions and picturesque landscapes, the Bay Area has always been an attractive location for people looking to purchase homes. Unfortunately, Bay Area home prices (along with the rest of the nation's home prices) dropped during the housing market crash. Although the housing market is still feeling the effects of the recession, it's good news that the Bay Area home prices are on the rise.
An Increase in Bay Area Home Prices
Predictions for 2013: The Final Chapter
Well, tomorrow brings the first day of 2013. What a crazy year 2012 was- a sometimes excruciating, other times exhilarating mix of progress, decision-making, tragedy and wonder. And for real estate, 2012 was all of those things, which makes predicting the industry’s performance in the New Year an exciting- but potentially imprecise- task. Still, on this New Year’s Eve, we bring you a round-up of our predictions for 2013 with a fair degree of certainty—because we have the data to back us up.
Predictions for 2013, Part 3: The Mortgage Industry
This Christmas Eve, we return to our series on predictions for 2013. We’ve predicted new construction’s performance. We’ve predicted trends in housing prices. Today, we look at the mortgage industry and—with the help of expert analysis and perhaps a crystal ball or two—speculate on changes to come in the New Year.
Last week we looked at predictions for new construction, given that housing starts are such an important barometer for the overall health of the real estate industry. In part 2 of our prediction series, we’ll take a shot at home prices: will they go up, go down, or stay the same in 2013?
Experts Expect a Rise
In the middle of a short sale or foreclosure deal? More than ever, you need a Realtor® and broker who can help you close these transactions quickly-- because as of 2013, changes in tax laws could hit you surprisingly hard.
A new year, and with it, a new start for real estate. Though things don’t change immediately on January 1, the chance to reset and begin tracking the market anew is both exciting and challenging. For with each new year comes new year predictions; and for the nation’s real estate industry, those predictions are hard to make given the unprecedented performance of the market since 2007.However, enough data now seem to point to recovery—slow, but steady, recovery.
Interest rates are so low, and have been for so long now, that we buyers might be taking it for granted they’ll stay that way. But that’s not, historically or even logically, how mortgage interest has performed in this country in the past. Today let’s look a little closer at mortgage interest rates so we can predict better whether they’re likely to go lower, go higher, or stay the same in 2013.
A quick perusal of the country’s interest history proves clearly that our current interest rates are far from the norm.
When the real estate market crashed, Boston’s market crashed along with the rest of the country, but recent reports show that this may be changing. This year has shown steady increases in prices for those buying Boston real estate, and November’s report indicates the trend is continuing.