Hello Tampa Bay:
I wanted to share with you my predictions for 2014.
I predict market values in Tampa Bay will increase by 6% by January 2015. We are starting to see a stabilization. The housing market staged a spectacular recovery over the past year. I see the market continuing it’s upswing, but at a much cooler pace. Due to this stabilization, as well as lessening inventory and very attractive selling prices, today is a great opportunity to list a home on the market.
I predict that we will continue to see many bank-owned properties and short sales hit the market. Although the volume is less than previously, there are still many great investment opportunities that exist. The good news is that many of the professional investors have left the market, which gives more opportunity to find a hidden gem to flip or rent for an attractive profit.
I predict that mortgage rates will increase to 5.00% by January 2015. 30-year fixed mortgages were at record-breaking lows, so it appears that they can only go up at this point. Especially as the Federal Reserve continues to taper quantitative easing. As the U.S. economy continues to improve, economists foresee mortgage rates worsening.
Elegant Casas is defined by both integrity and a very high level of service. We have the technological tools, financial backing, and professionalism to ensure that you have a pleasurable real estate experience in 2014.
Michael A. Melnyk