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5 Important Real Estate Facts for 2020
It's always important to keep up with real estate trends and changes. Find out five important real estate facts for 2020 here.
In real estate, the winds of change can turn the industry on its head in a quick moment.
One of the best ways to stay ahead in 2020 is by knowing the essential real estate facts. Your success as a home buyer, seller, or agent relies on your evolving knowledge.
These facts will help you make property decisions this year.
1 . Low Mortgage Rates
The trend of record low mortgage rates will continue into 2020.
Recently, interest rates were cut again with some economic experts predicting the Federal Reserve will need to drop all the way down to 0%.
These low (and potentially zero) mortgage rates make it a perfect time to buy or build your first home. Your payments will be barely higher than the principal and insurance plans.
As borrowing increases, the interest rates will also increase, so buy now.
2. New Starter Homes
The Great Recession of 2008 saw homebuilders put a freeze on developing new starter homes.
Population swells of the Millenial generation place them at the homebuying age now. While many of these people want to buy homes, there's no inventory to fit their ... more
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