We have a meeting of the minds as to what our predictions will be for the next calendar year. This year was no different. We started compiling our list, and made sure to include the "no shit Sherlock" predictions as well as the more "huh - not so sure about that one" predictions.
- Rising Mortgage Rates: Yep - it's already happening and will continue to happen as long as we are seeing a stable economy ahead.
- More Transactions: It's been a trend year over year since the dog days of the bust years.
- Price appreciation slows: I believe we are near the top of our current "arch". "Current" being the key word there.
- Move Up Buyers are a MAJOR influence this year: In Jax, we've had too many people S T U K (4 letter word) for too many years (try a decade). With appreciation up and an improving economy, many of these home owners will make the move up this year... and it's about time right!
- Buy and Flip Investors Slow: Honestly, its about impossible to find huge deals anymore now that housing is favorable again in the eyes of the general public.
- Buy and Mow Down Trend Increases: We are already seeing this in the Intown areas of Jacksonville, and I see no reason for this trend to continue... many of these homes would cost more to renovate than to just scratch and start over.
- Renovation is a big deal in 2017: As the banks start to free up some of their money, they'll start lending on HELOCS or construction loans again. We need this to happen and people need to renovate!
- St Johns continues to blow up: Have you seen all those new home developments in the Southside areas? We haven't either! The building is mostly happening in St Johns, and we don't see any reason for this to slow.
- Rebound Buyers Back in the Market: Many of Jax residents went through bankruptcy, foreclosure, and short sales. These people are all mostly eligible to buy again, and although many swore off buying - many will decide to get back into home ownership.
- Return to Urban: We are seeing quite a bit of interest from people who moved "out to the 'burbs", and have now decided to move back to civilization. This trend will continue.
- The Rental Market continues to be NUTS!
A few predictions about The Officer Group in 2017:
- More Buyers will find us and say "Working with you guys is way better than my last Realtor!"
- More Sellers will find us and say, "Selling doesn't have to suck! Thank God I found you guys!"
- We will help more Buyer's find the right home and get a great deal.
- We will help more Sellers sell for the highest market price and make sure everything runs smoothly.
Posted by Brad Officer
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