The Housing Forecast – 2016

by admin on February 3, 2016

We are leaving the year 2015 with one of the best years for housing since 2007. The good news is a bigger and brighter 2016 is in the forecast. Fueled by steady job growth in many parts of the country, the pent-up demand for buying finally broke out in 2015. This trend is expected to continue throughout 2016.

Here is the breakdown for what to expect for the upcoming year:

  • Millennials make a move. In 2015, millennials represented 2 billion dollars in sales. They are expected to continue to be a large presence in 2016. Even with student loan debt, the National Association of Realtor’s data shows that millennials still view homeownership as a good financial investment and part of their American dream.
  • Mortgage rates will climb. We’ve been fairly lucky with mortgage rates remaining historically low. This coming year, the 30-year fixed-rate mortgage will likely end nearly 60 basis points higher than 2015, or to as high as 5.1 percent. The markets with the highest home prices will see most of the effects.
  • Healthy growth in homes sales and prices. Although we are coming off of a great year in home sales, 2016 will continue to have steady growth. New construction and distressed sales are expected to hit historical levels again and home prices are expected to rise at normal, but consistent, rates.
  • Rental costs skyrocket. The cost to rent is expected to rise even higher in the New Year. More than 85 percent of the nation’s markets have rents that exceed the 30 percent of income rule. Buying a home is actually more affordable in three quarters of the U.S.
  • New home construction makes a comeback. New home construction was at its lowest point in 2009 with developers scaling back nearly 79 percent. Single family home construction is expected to rise 23 percent in 2016 with new home sales expected to jump 26 percent.
  • Buyers will start wanting green and smart homes. Eco-friendly features will be a growing demand for those who prioritize energy efficiency, a healthier indoor environment and durability. More than half of builders say they are currently working on green projects and that is expected to rise over the next couple of years.

In short, 2016 will be another year of stronger housing demand and sales. This will be fueled by continued job growth, job creation and increasing consumer confidence. More people are in a position to buy a home which is creating more demand. As long as supply can keep up, the housing market will continue to shine into 2017.

 

Sources:

http://www.thefiscaltimes.com/2015/12/15/10-Housing-Trends-Coming-Your-Way-2016

http://realtormag.realtor.org/daily-news/2015/12/22/5-real-estate-trends-will-dominate-2016

http://www.realtor.org/news-releases/2015/11/existing-home-sales-on-track-for-further-expansion-in-2016

 

 

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Making the Most of Your Mountain Home

by admin on February 3, 2016

Why buy a mountain home? In one word… profitability. The housing market continues to gain momentum as we head into 2016. Owning a second, or vacation, home in the mountains is ideal for not only the avid skiers and ice fishermen, but also for those seeking extra income or those planning for retirement.

Advantages for purchasing a home or log cabin in the mountains range from vacation convenience to planning for retirement. However, the most common theme seems to be the financial advantage. Vacation properties are more likely to retain their value and appreciate because of their geographic location. Add in rental income received when not in use and tax deductions and your financial gain could soar.

Before jumping into a big purchase, there are things to consider first.

  • Determine your ideal location. Where in the country do you want to live? Do you need to be near a resort?
  • Establish a price range. Don’t put yourself in financial strain. Assume that your down payment, closing costs and furnishings will be 33% of the purchase price.
  • Establish required and desired amenities. What is important to you? If you want to rent, consider certain amenities that renters will want such as a fireplace, updated furniture and flat screen TV’s.
  • Engage a real estate agent. A good agent can guide you through the purchase process and help you find financing. More specifically, find an agent with expertise in mountain properties.
  • Consider a property management company. If you are going to rent your cabin while you are away, you need someone to manage it. You can hire a professional company, which is the more expensive route, or you can use VRBO (Vacation Rentals by Owner).

The bottom line is that both vacationing and living in the mountains can be idyllic. Fresh air, endless hiking and skiing opportunities make the mountains a fun and healthy option. If used correctly, you can also gain financially. However, just like coastal living, living in the mountains is not for everyone. Do your own research on the positives and potential negatives before making your move.

 

Sources:

http://www.yourgatlinburgcabins.com/how-to-make-a-log-cabin-profitable/

http://www.moneycrashers.com/buying-second-vacation-home/

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Lift Your Land Sales with United Country

February 2, 2016

United Country Real Estate ended 2015 on a high note in land sales. In the fourth quarter, United Country sold $252 million in land – up 13 percent from 2014. The entire year ended up one percent with a total of $843 million. The numbers show potential growth for the 2016 year. For those looking […]

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Purchasing a Property at Auction

February 2, 2016

Making an offer and buying a home or a piece of property that is traditionally listed on the market is not your only option today. Auctions have gained a tremendous amount of attention in the real estate sector and are now gaining momentum as a method to purchase property. Experienced real estate investors have leveraged […]

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Working with Buyer’s Brokers at Auction

December 16, 2015

Professional auctioneers who are successful in business and life share a common trait – putting the needs of their sellers in front of their own needs. As a professional real estate auctioneer, I often consider how effective a buyer broker can be in the different property types and markets we serve. Due to the individual property […]

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United Country Celebrates 90 Years of History

November 24, 2015

United Country has come a long way since its humbled beginnings in 1925. Founded by Roscoe L. Chamberlain, United Country aimed to provide a “roadmap to the country.” This year, we celebrate nine decades of accomplishments and milestones and look forward to a bright future. The History                         In August 1925, Chamberlain founded United Farm Agency […]

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Writing an Effective Bio for Real Estate Agents

November 4, 2015

Your personal real estate agent bio is a marketing tool and effective at assisting you build your brand. A client will be looking for your wisdom, experience and personality and there’s no better place to showcase these things than a bio. Below are some simple suggestions to keep in mind before you write a broker/agent/auctioneer […]

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United Country Real Estate and Auction Flex Form Partnership

October 22, 2015

United Country Real Estate is ramping up its game in the auction world. They recently formed a new partnership with Auction Flex and Bidopia– a full suite of auction software solutions with an industry leading online auction platform. The new partnership allows all United Country offices the ability to implement state of the art auction […]

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United Country Breaks Down Top Ten New Orleans Attractions

October 7, 2015

United Country Real Estate celebrates its 90-year anniversary, February 24-26, at our National Convention. Where better to celebrate than the unique and historical city of New Orleans, La.? In honor of United Country’s celebration, we’ve broken down the top 10 things to do in the Big Easy.   10. Cemetery Tours. Known as “cities of […]

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SEO – The New Age of Marketing

September 23, 2015

Technology rules the world. With the Internet and smart phones, information is available with the touch of a button. This has changed the way a company, including those in real estate, markets their services and products to the masses. Traditional marketing has transitioned to online marketing. Looking for someone to sell your home? Google it! […]

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