Times of change can bring out the worst fears in people and can negatively influence various economies and markets throughout the country. This year the American people will usher out the current presidential administration, so what does that mean for your local Real Estate Market and how should it influence your plans for future purchases and sales?
Interest Rates and Stability
There is generally little fluctuation with items such as interest rates during transitionary times to help buffer stability in the housing market. Our current rate in the Raleigh-Durham area is lower than it has been in years, commercial properties for instance are below 3% at a fixed rate, and these numbers are likely to continue.
In addition, based on previous election and transitionary data, the cautious trends that creep up and slow the housing market would have already begun, but they have not. The market on $400,000 and below remain strong and thriving. The fact that sales are higher this year than the previous at this time proves the strength and stability of the current market.
Residential and Commercial Opportunity
If you are ready to step beyond owning a single home and are looking to purchase housing to rent out or are looking to tap into the commercial real estate market, now is the time. As we mentioned before, commercial interest rates are low and vacancy in locations like Durham are at 1%.
Purchasing property now would not only give you a fantastic deal when closing, but you are assured to have tenants renting your property shortly thereafter, as there is still a high demand for housing with limited supply. Be sure to take advantage of this opportunity while it is available, because the markets tend to slow during the autumn months compared to the boom of summer.
Linda Craft & Team, Realtors
At Linda Craft & Team, Realtors, we have engaged and adapted to the market in the Greater Raleigh Area for over 30 years, making sure our clients receive the best price in both residential and commercial properties. Our dedication to our craft has led us to being voted #1 team in the Triangle and we have agents available 24 hours a day, 7 days a week to meet your needs.
Schedule an appointment with us today at 919-235-0007 or visit lindacraft.com for a full listing of all of our services and more!