What to expect in 2015

Today I just wanted to do a quick market update for you on what happened in 2014, and what we expect 2015 to bring us. This year was great for us. We ended ...

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What to expect in 2015

Posted by Lee Tessier on Monday, January 5th, 2015 at 3:28pm.


Today I just wanted to do a quick market update for you on what happened in 2014, and what we expect 2015 to bring us. This year was great for us. We ended up selling 274 homes, and took great pride in providing excellent customer service to all our clients. 

We expect 2015 to be a fantastic year in real estate. This is the year that we will really see millennial buyers come out in droves. With all the new first-time home buyers entering the market, it will be an opportunity for those of us who already are homeowners to move up into a newer, better home. 

Buyers have been taking advantage of low interest rates for quite some time now. In the next 3 quarters, they are expected to rise as much as 1%, so keep that in mind. Just a 1% increase in mortgage rates will decrease your affordability by about 10%. 

Another thing to keep an eye on is the 3% down payment loan options that will be coming on the market. FHA, Freddie Mac, and Fannie Mae are each coming out with 3-3.5% down payment mortgage options for first-time home buyers, or for anybody who can't afford a large down payment. 

A few more important points for you to remember:
  • With low oil prices, energy costs are going to remain low this year. 
  • If you've been thinking about investing in a rental property or two, now is a great time. For a $1,000 a month payment, you can rent out the property for $1,300 or $1,400 a month. 
  • A stronger economy will give consumers more confidence in the coming year.

If you have any questions for us at all, we would be glad to answer them. Just give us a call or send us an email. 

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