As the title of my blog is running for real estate, I am pleased to combine my passion for real estate with running. Moreover, rest assured that I will run and hustle to help you buy or sell a house the same way our bunny Peter runs up and down the stairs in this video! I believe in being quick and efficient in taking care of all your real estate needs, so never hesitate to call me with any questions. No strings attached!

 

 

As we approach the end of the year, almost everybody wants to know what to expect in the coming year, especially because of the elections and the rumors about interest rates going up, which are not just rumors. Interest rates will be going up a little bit in 2017, according to Oscar Wei, senior economist for California Association of Realtors.  During our monthly meeting at Sacramento Association of Realtors, Wei did a detailed presentation on our real estate market- see entire link and forecast below.

http://www.car.org/3550/pdf/econpdfs/09-29-2016_EXPO_Forecast_Final.pdf

10 Key Points to Remember as We are Heading Towards the End of 2016 and Ushering 2017:

 

1. Real estate is still considered a very good long-term investment.
2. Listings inventory is still low, making is more difficult for first-time buyers to afford to buy.
3. Long-time homeowners are not moving that often and wait about 10 years to move, choosing instead to remodel their homes and stay.
4. Boomers are not moving as often.
5. Builders are still not building enough new homes, which contributes to a lower supply of homes.
6. Interest rates are below 4% for now until the FED will decide what to do.
7. Consumer confidence is 9-year high.
8. Unemployment rates are 8-year low.
9. Majority do not plan to sell their home when they retire.
10. Most homeowners, as a matter of fact 92% of them, have equity in their homes, which is why we have seen a very low supply of short sales and foreclosure homes.

 

10 Key Points to Remember about 2017 Market Outlook:

 

1. We will see a modest price increase in 2017 of about 3%.
2. A 2% increase in sales.
3. The American dream and homeownership is still very important for the Millennials.
4. Investors buyers are dropping, but still active in the lower-priced market.
5. Unemployment in California will be around 5.3%.
6. Interest rate projected at 5% in five years.
7. Home prices will grow steadily next year.
8. Biggest challenge for buyers in 2017: lack of affordability.
9. Buyers will need to educate themselves on our market, the various loan programs, and the down payment assistance.
10. Pursue your dreams and find a way to build your own equity by stopping to rent and buying a home.

 

For more info on running and real estate, whether buying or selling, please e-mail me at carmenmicsa@yahoo.com, or call me at 916-342-2446. Running for real estate with joy!