The Home Guru's Crystal Ball for 2014 Housing Predictions

By
Real Estate Sales Representative with William Raveis Real Estate

In the real estate world, 2013 was quite a year to observe and ponder, wasn’t it? Quite unlike any other in recent history. Considering that it was clawing its way back from the doldrums of the worst economic recession since the Great Depression, it had a lot of catch-up to do and, while uneven, it rose to the occasion.

Prices rose an average of five percent nationwide and in some tony pockets of Westchester, as much as 20 percent. Instrumental in the price increase was the low inventory compared with the number of buyers in the market competing against each other in bidding wars, unheard of during the recession. And mortgage rates remained at historic lows.

Much of that is about to change according to the pundits whose expertise The Home Guru culls from his crystal ball to present a list of housing predictions for 2014 – the good, the bad and middling – as follows here.

In short, the so-called perfect storm, just before both mortgage interest rates and listing prices rise, is in the first six months of 2014. So don’t hold out until the spring market! For now, enjoy a Happy New Year’s Eve, then call your Realtor!

Bill Primavera is a Residential and Commercial Realtor® associated with Coldwell Banker, as well as a publicist and journalist who writes regularly as The Home Guru. For questions about home maintenance or to engage him to help you buy or sell a home, he can be emailed at Bill@TheHomeGuru.com or called directly at 914-522-2076.

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Rainer
22,740
Robin Moffitt
Gold Star Realty, Inc. - Nampa, ID
"Gold Star Service....Gold Star Results !"

Truly great post!  I've been tracking different professionals and their insight into 2014.  I'm sure this year will field the stream of new challenges....but, if we are in it for the service to others it will be great for us all!  Buyers are coming back into the market.  The government is down so far...it's gotta get better..PLEASE!  Interest rates may hold for a bit longer but, if they don't, income property will be the demand arena 'cuz rents will increase.  Round and round we go!  We just have to keep an eye on what we can do with what we have and what we can see our way through.  If we're still in the game after what's been going on in our immediate past...we're survivors and we'll be just fine!!!  All is good, as always! Happy New Year, for sure!

Dec 30, 2013 06:50 AM #1
Rainmaker
2,360,267
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Bill -  Yes I would think you are right.  When I was trying to sell my first condo I remember the realtor saying that rising interest rates would be good. They were and I sold at listing price.

Dec 30, 2013 10:56 AM #2
Rainmaker
3,216,272
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Bill - Thank you for sharing very good information about the home guru's crystal ball for 2014 housing predictions.

Dec 31, 2013 09:22 AM #3
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