Before we get into examining what the real estate market will see in 2017, we first wanted to announce our brand-new location in Longboat Key. This means that we now cover the entire coast from Tampa Bay all the way to Charlotte Harbor. Thank you all for your continued support!
Now, let’s get to the real estate market.
Our new president, Donald J. Trump, is first and foremost a real estate guy. He has indicated his interests in boosting homeownership and reducing regulations in financial markets, which could have a great effect on real estate in general.
Interest rates are ticking up a little bit. We expect them to go up to nearly 4.5% by year’s end. If they shoot up near 5%, however, we think the market will cool off a little bit. So, now may be the sweet spot in which to make your move while taking advantage of the historically low rates we are still seeing.
Although national trends are interesting to look at, the important stats are the ones from our local market here in Florida. This market is very unique. We dominate the national price appreciation rankings. People who live here see their home’s value go up quicker than in other parts of the country. When they see this, they tell their friends about it too, which is driving our market as much as anything else is.
We predict that the central gulf coast will continue to offer unbeatable real estate opportunities in 2017. If you have any questions for us or are thinking about buying or selling, give us a call or send us an email. We would love to hear from you.