NEW YORK, NY / ACCESSWIRE / July 15, 2021 /
1. One question we hear every day is what do you think the market is going to do? When is the crash coming? Should I wait until the big drop of property values before I invest in new properties? We undoubtedly do not have a crystal ball when it comes to determining the future of the market. The best thing is to pay attention to what is going on in the real estate market and researching the current situation to help prepare for any economic changes that may occur.
2. Let's look at what we do know, the real estate market will always be about supply, demand and interest rates to determine future changes to values that may take place. I always plan for the worst and hope for the best. There are predictions in the mortgage industry that throughout summer, the interest rates will increase and when the market slows down again after summer, rates tend to lower again from the summer highs.
3. Based on the current market, the inventory of homes is at an all-time low number of units, while the demand for properties have increased dramatically. The why is the bigger question to think about and to focus on. We have a lot of brand-new first-time home buyers as the millennials are coming of age to purchase first homes which allow the older generations to buy their next upgrade for living which is a good cycle to be in. The issue is with so much demand, the home pricing has been at an all time high based on sacristy. In addition, the materials to build homes is at a 30-40% increase based on materials not available! Currently, it looks like it's cheaper to build homes out of metals instead of wood!
4. The market has been so high mainly because we have been stuck at home and most clients have not been able to buy new properties due to the low inventory.
5. As the market changes I do not see a huge drop in values nor rates, mainly because our workforce is opening back up again, providing virtual options to work, high demand for new developments in this shortage of homes which also lead to more jobs created to handle the new business demand.
6. The research our company has done has shown us that the rates will most likely stay low, value will continue to increase especially through the summer. Predictions state that the rates will lower in the fall/winter months while the housing market slows a little during the beginning of school. The good news is Groves Capital is as wholesale as it comes to find the best solution for everyone involved.
7. The biggest struggle we see in the mortgage industry is the bait and switch quotes that are not accurate. Make sure you are working with a knowledgeable loan officer that has your best interest at heart, has many loan options to choose from and has a 5-star reputation! @GrovesCapital, those 3 traits are what we stand by!
8. At Groves Capital, we are focused on giving you the best solutions with over 160 lending platforms, wholesale rates and a 5-star experience. Its still a great time to focus on achieving the best rate possible and offer creative solutions that are specific to each borrower.
9. At this point the real estate and lending market are currently booming more than they ever have in the last few decades. Expansion is happening daily with the increased demand for more spending, more housing and lower debt to spend more!
10. At this point I believe the market will begin to level out as we move towards the future economic environment. The rates are still the best they have been almost ever. If you are that person that has been waiting based on your feeling the market is going to tank, I do believe you're missing a big opportunity for you and future. It is best to reach out to Groves Capital for a complimentary quote and loan structuring to help you understand your current options. We love putting together the best opportunities for you to take advantage of! Your homes are one the largest purchases you may ever invest in and it's in your best interest to find the best options. Let Groves Capital help you to achieve your dreams with confidence and comfort. Let us welcome you home!
For a free consultation call 1888 -611-0998 or www.GrovesCapital.com
SOURCE: Groves Capital