With the Real Estate market recovering quite beautifully, the year of 2015 promises to be a welcome reprieve for those interested in this sector. Jeff Adams, the #1 real estate trainer, promises that this economy is ideally suited for homeowners, which ensures fewer of them will be in debt, and builders are getting ready to take on bigger projects. The economy is ripe for real estate investment, so here is Jeff Adams’ forecast for the real estate market of 2015.
1) Availability of homes
When the recovery of the real estate market began in 2013, there was inadequate supply to meet the sudden growing demand. The shortage began to soften up early this year and by 2015, it is anticipated that there will be enough to meet the demand.
2) Increase in mortgage
If you have recently bought a home, you will know that the mortgage rates have gone up. Towards the end of this year and early next year, the mortgage rates are expected to be at their highest.
3) Easier to get mortgages
The upside of having the mortgages so high is that it is easier to get them. So while you may be shelling a little more than usual, the amount of red tape has reduced significantly and you are likely to be a proud owner faster than ever.
4) Prices of homes will increase
Jeff Adams predicts that the prices of most homes will increase anywhere between 3 – 5 per cent, and while this is bad news for potential home owners, it is anticipated to be a welcome move for all those in the real estate business.
5) The debt of home owners will reduce significantly
In 2013, it was estimated that over 2.5 million home owners were in debt. But with a positive equity growth, it is predicted that this number will reduce to 6.4 million by the beginning of 2015.
6) Affordability and ownership will reduce
Though the rate at which house prices are increasing is quite slow, potential home owners will definitely feel the pinch. So while this growth is actually a positive one for the real estate market, there will be fewer individuals that will buy houses.
7) A lot of people will move
With high mortgages and credit being given more freely, a lot of Americans will move to smaller and more affordable homes. This can also mean they will move to the suburbs from big cities and move away from big cities like New York, D.C and others.
8) It will be easier to buy a home
While the prices may be at an all time high and the banks loosen the reigns of credit, it becomes easier to get a home. Buying a home has now become an easier process; so despite the rising rates, this is the right time to buy!
Investing in real estate can be a little tricky, especially if you are not adequately experienced. Indulge in the series of books from Jeff Adams or sign up for a workshop or even one of his Coaching Packages to better equip yourself to handle these investments effectively. Jeff Adams and his team are with you every step of the way.
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