Real Estate Trends for 2016 - What Can You Expect?

2016 Trends in Real Estate

With such a great year in Real Estate and confidence completely back in the market place what can we expect in 2016.

• Confidence in the market will bring out more buyers. Those who have been sitting on the fence will definitely be looking at their options

• First time home buyers will be out looking for their starter homes. The Gen Y's may be looking in downtown areas, possibly condo and townhome lock up and go to suit their busy and free lifestyle or possibly those who are considering settling down will look in trendy suburbs close to their lifestyle choices.

• The Baby Boomers are living longer and have an earning potential much later into life and because of their general good health they are also potential buyers. They may be looking for Over 55 communities but are also looking for the activities that complement their still active  lifestyle. They could find themselves not ready to take such a drastic lifestyle change and may even buy a smaller home in a great subdivision with great amenities and lower HOA fees. On a fixed income they will be wary of rising HOA fees.

• The Gen X'ers will continue to buy bigger and better to suit their lifestyles and to spend their excess cash. They will have confidence in the real estate market, job security and will look for amenities to suit their lifestyle.

• Investor / flippers will struggle to find property priced appropriately because they will be competing with those entering the market place who can take their time to remodel an older home in a good area. Investors have to buy in a great location at a lower price.

• New construction will be a winner this year as we see more and more new home communities being developed. They will be competitive in terms of finishes and price and will have a big lean towards more technology in the home.

2016 is going to be a great year in Real Estate. Even with a slight increase in mortgage rates, their is much confidence in the market. Sellers will continue to get multiple offers on their homes if they are priced correctly. Its a great time to be a seller.

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