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Need to Know Real Estate Trends for 2014

 “Need to Know Real Estate Trends for 2014″

Keywords: real estate, realtors, buy property, property search

As 2013 starts to wind to a close, real estate experts look to the coming year to project the trends that we will see in the industry. Two such statistics were recently cited by MoneyWatch.com.

Real Estate Recovery Relies on New Job Growth

“Unemployment Rate in the United States increased to 7.30 percent in October of 2013 from 7.20 percent in September of 2013. Unemployment Rate in the United States is reported by the U.S. Bureau of Labor Statistics.”

With many areas still feeling the sting of widespread unemployment, many real estate experts consent that stable growth in the housing market relies on a stable job force.

 

Nov ahl blog

Second-Tier Investments

Now is the time that real estate investors and realtors start assessing those cities that will be “hot” next year and they have decided, according to Money Watch, that cities like New York and San Francisco are waning in their popularity, and second-tier cities, like Dallas, Boston or Portland, and their suburbs, will see an uptick in real estate activity for 2014.

How do these potential 2014 real estate trends affect your efforts to buy property next year? For anyone in the market to buy a home, understanding the unemployment levels and property values of the region to which you intend to move can be a great way to start your property search. In an area with higher unemployment rates, chances are that properties could have been foreclosure sales and may be lower in value. While this can be good for you as a buyer, it can affect the overall value of your intended property. Speak to your realtor, or we can recommend one, and find the fine-line that you can walk between great price and solid property value.

As far as the attractiveness of “second-tier” cities, if you are looking to move to one of these ‘soon to be chic” areas, it may behoove you to act sooner than later in your property search. Trends, like rumors, spread fast and property costs in a city that is suddenly deemed “hot” can skyrocket quickly. Find out where the designer cities are in your area and get started on your real estate search now.

 

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