I’ll continue to build on the 2014 4th quarter analysis as we go through the quarter. I’ll try to cover the important aspects the local economy as it affects real estate. I’ll include periphery reporting as well as national trends.
In my Summer 2014 client newsletter I talked about what I considered to be a hard truth about the state of the U.S. economy. I said I thought the economic “climate” was the new normal. Since the crash, economists talk about the improving landscape and the return to normal. Recovery. I don’t think the numbers they’re seeing is meant to define the normal they’d hoped for, but I do feel it’s here for the foreseeable future. I see some reasons for that and will include those discussions in future posts.
For me, the word that best describes 2014, and past years, is “volatile.” Whether it’s real estate sales, financial markets, jobs numbers or world events, to some extent they are each fluctuating and volatile.
Life marches on. As a REALTOR who believes in home ownership and the security owning your own home represents, I give clients just a few pearls of wisdom. If you are the kind of person that values home ownership, and you’re really interested in either buying or selling right now but are afraid, take a personal inventory. The first critical question to answer is whether you feel your job and income are secure. One never knows for sure but we move through life with an assortment of calculated risks. Make your wager and step into the home shopping scene.
For prospective buyers that feel financially secure, we need you in the housing market. It will be you who helps keep this boat afloat. The bonus is the still historic low mortgage rates. This is a great time to buy a home.
For prospective sellers, if you don’t know your marketing power, you’ll need to get an analysis of your value to help with the rest of your equation. If the numbers add up for you, list your home. We need more homes on the market. Limited inventory is one of the reasons sales pace continues to falter. Although inventory supplies continue to improve, we are still too low and this contributes to lack of buyer interest in the market – too few choices.
I am not an economist but it has always interested me and I studied it in college. As a REALTOR I’ve analyzed various pieces of data for many years, in several Maryland counties. While I feel knowing the national and global forecasts is very important, my main goal in these posts is to help local buyers and sellers make decisions about home ownership by providing a tailored opinion of the local economic picture. I work primarily in Frederick County MD and this is the primary area of focus for most of my reporting. If you are curious about your neighborhood, subdivision, zip or county, and would like more data and analysis on it, let me know. I’ve always offered my services in a no pressure way and will be responsive to requests in the same manner.
You can visit me at www.agentgrace.house