My 2021 Outlook:
Hope you are well!
As we begin the final month of the wildest year any of us have seen in a long time, I wanted to give you my outlook moving into the new year.
I have an extremely positive expectation for 2021. Especially in the real estate market.
Of course, I could be wrong...nobody truly "knows."
A few things I see that are drastically different from the mid-2000's real estate bubble are:
much stricter lending regulations, third party appraisals, very little speculation, low interest rates, low inventory, high volume of cash on the sidelines.
Even with all the difficulty that went on this year, real estate actually did very well. Our local market values are up about 10% year over year.
With the mortgage rates expected to stay low, I expect steady growth next year as well.
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