PART 2: 4 Predictions for the RE Market for 2021

PART 2: 4 Predictions for the RE Market for 2021
Isabel Guzman:
The second real estate prediction for the US and 2021 from CoreLogic’s chief economists is that there will be more first-time home buyers entering the market.

Hi, I’m Isabel Guzman, realtor with eXp Realty. Remember CoreLogic bases their predictions on public data and facts and being in the industry for several years, I heavily rely on their data. He believes that the low-interest rates will continue to entice buyers to want to enter the market. It’s simply an easier transition to enter the housing market today because the interest rate is much lower today than they were a year ago, about 1% lower, in fact, and that lowers a buyer’s monthly payment significantly. So much so that often time mortgages are lower than what a monthly payment for a rental property would be. And remember, they also have the benefit of writing off some of the mortgage interest.

Buyers, therefore, also have more monthly cashflow because mortgage rates are lower and because of the interest write-off. However, the negative part for buyers is that with prices going up, initially when they purchase a home, there are also going to need a bit more money for the down payment, closing costs and a monthly reserve. So that can cause a little bit of stress.

Once they get into the home, however, it’s great. But initially getting into the home may be a bit more of a financial challenge. But then again, I’m here to help you navigate through this journey so you can feel confident and sure of your decision. Be sure to search my YouTube channel for all of the four real estate predictions for 2021. Don’t forget to subscribe and follow my Facebook page and always feel free to reach out to me for anything that I can do to help. I’m Isabel, bringing you home.
Connect With Us!

If you're looking to buy or sell a property connect with us today!

How Can We Help You?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.
    (check all that apply)
  • This field is for validation purposes and should be left unchanged.

Leave a Reply

Your email address will not be published. Required fields are marked *