If you are planning to buy or sell in Western Kentucky in 2014, there are a few game changers in store. With the housing market finally making a turn last year, new trends mean that the scales have been tipped in favor of sellers, and that’s not all. Let’s examine a few trends and see how you can prepare.
Less Distressed – By the end of 2013, the number of distressed properties on the market was dwindling. Great news for sellers as they can finally look forward to, brace for it, profit!
What does this mean for buyers? The pressure is on, my friends! Buy early because prices and interest rates will be rising!
Growth in Economy - It seems like common sense, but where there is growth in jobs there will be growth in the housing market. Namely, the single-family home market.
Condos will take the back seat again while those looking to buy will be in favor of single-family homes near, but just outside, large cities. Convenience will be king in when it comes to location!
If You Build It – The increase in inventory will lead to an increase in new home building throughout the country. Builders are finally getting back in the swing and homebuyers are ready.
More building = More inventory = More new home sales
So what does this mean for you? Plan. That’s it. If you were thinking about moving last year but stayed on the fence, get off of it this year. The sooner you make that decision the better position you are in for finding your Western Kentucky dream home. And I am here to help. Let’s get started!
Kathy Jackson | REALTOR®
RE/MAX Midwest Real Estate Group
2011 100% Club Member
Certified Distressed Property Expert
12252 Hwy 41 N | Evansville, IN 47725
Cell: 270.844.2607
www.kathyjackson.net
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