Positive Housing Predictions for 2013

BusinessInsider tells MHProNews John Burns Real Estate Consulting offers the following five predictions of what will happen in the New Year in the housing market, “Assuming our leaders in DC come to some sort of agreement that keeps the economy growing and interest rates low, which seems like the most reasonable assumption.”

  • Investors and flippers will be more prominent as they realize the potential return on real estate investing.
  • Foreclosed borrowers who are now renting will return en masse because they are paying more in rent than a house payment. The Federal Housing Administration (FHA) and the Dept. of Veterans Affairs offer low down payments loans around 5%.
  • First-time homeowners who have been waiting for the bottom will now see prices rise in their desired neighborhood and begin to buy.
  • Seniors who have sufficient equity in their current homes will purchase a home better suited to their lifestyle, possibly including room for an adult child or aging parent.
  • This past year’s price appreciation has raised one million borrowers from under the water, and continuing appreciation will raise them more.

(Image credit: firstbanktrust)

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