Frederick MD | 58% of Homeowners See a Drop in Home Values Coming
Frederick MD Local Market Tidbits:
In order for us to provide comprehensive real-time market data and in-depth analysis for the benefit of all our clients, we use this blog to bring you our expertise and provide you with world class service
From an advisory point of view, our local knowledge will benefit you financially when buying a home through us.
From a valuation point of view, our marketing expertise will augment the results you are looking for when selling a home.
From an activity point of view, these neighborhood in Frederick are the most active:
* Fort Detrick
* Wormans Mill
* Ballenger Creek Center
* Clover Ridge (Hill)
* Monocacy (Park, Crossing, Mile)
* Taskers Chance
* Hillcrest orchards
* Monarch Ridge
* Holly Ridge
* Manors At Ballenger
* Spring Ridge
* Brunswick & Brunswick Crossing
Today I want to talk to you about 58% of Homeowners See a Drop in Home Values Coming
According to the recently released Modern Homebuyer Survey from ValueInsured, 58 percent of homeowners think there will be a “housing bubble and price correction” within the next 2 years.
After what transpired just ten years ago, we can understand the concern Americans have about the current increase in home prices. However, this market has very little in common with what happened last decade.
The two major causes of the housing crash were:
1.- A vast oversupply of housing inventory caused by home builders building at a pace that far exceeded historical norms.
2.- Lending standards that were so relaxed that unqualified buyers could easily obtain financing thus enabling them to purchase a home.
Today, housing inventory is at a 20-year low with new construction starts well below historic norms and financing a home is anything but simple in the current mortgage environment. The elements that precipitated the housing crash a decade ago do not exist in today’s real estate market.
The current increase in home prices is the result of a standard economic equation: when demand is high and supply is low, prices rise.
If you are one of the 58% of homeowners who are concerned about home values depreciating over the next two years and are hesitant to move up to the home of your dreams, take comfort in the latest Home Price Expectation Survey.
Once a quarter, a nationwide panel of over one hundred economists, real estate experts and investment & market strategists are surveyed and asked to project home values over the next five years. The experts predicted that houses would continue to appreciate through the balance of this year and in 2018, 2019, 2020 and 2021. They do expect lower levels of appreciation during these years than we have experienced over the last five years but do not call for a decrease in values (depreciation) in any of the years mentioned.
If you currently own a home and are thinking of moving-up to the home your family dreams about, don’t let the fear of another housing bubble get in the way as this housing market in no way resembles the market of a decade ago.
We fully understand that buying or selling a home is more than just a business transaction between two people.
We know how it affects your family and we know the experience could affect the quality of your life.
That’s why our team of highly-seasoned real estate professionals are dedicated to providing you with exceptional services at a local level.
Our pride is our personal touch that we use to connect with our clients,
where our goal is to build a long-term relationship based on trust and service.
Let us help you achieve all your real estate goals.
Give us a call now.
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