The Portland housing
market experienced a slight lull in the fall months as buyers took a break from
the rising interest rates and summer bidding wars. Experts predict that the housing market will
cool in 2014 as home buyers get priced out of the rising market.
Meanwhile, I have noticed a flurry of house shopping taking
place as we kick off 2014. If you’re intending to sell your house this year,
you should have it on the market NOW. Here’s
why. Buyers may lose their motivation to shop as interest rates rise to an
expected 5.5%. Buyers will have more to choose from as home owners come out
from being under water on their mortgage and home builders bring new homes to
the market. Home prices will continue to rise, but more slowly. Experts predict
prices will rise 4% in 2014 which is much slower that 2013’s 12.5% increase.
If your New Year Resolution includes buying or selling real
estate, I would love the opportunity to help you. Call me at 503-318-1918 to
find out what I have to offer as a real estate expert.
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