TIPS AND TRENDS
Real estate in 2020 BY MARY GAJDA
The real estate market can ebb and f low, but being in the know can help a great deal when you are considering buying or selling either residential or commercial properties. Arming yourself with the right real estate agent and plenty of knowledge will keep you one step ahead in your quest. Greater Lansing Business Monthly spoke with Heather Driscoll, broker/owner at EXIT Realty Home Partners; Kellly Hude, Realtor with RE/MAX Real Estate Professionals; Jim Kost, real estate agent with Coldwell Banker Hubble Briarwood; and Lisa Kost, manager of commercial real estate for Coldwell Banker Hubbard Briarwood.
20
DO YOU HAVE A FORECAST FOR REAL ESTATE IN 2020 – EITHER COMMERCIAL, RESIDENTIAL OR BOTH? DRISCOLL: A strong economy and employment combined with low mortgage rates will continue to support a robust housing market. Hude: As a residential specialist, my prediction will be a very strong early spring market, which will probably continue through the summer. As we are heading into an election year, I think things may slow down a tad starting in late September as we head into the aggressive political months.
G R E AT E R L A N S I N G B U S I N E S S M O N T H LY
MARCH 2020
JIM KOST: My forecast for 2020 is that the market should remain a seller’s market with low inventory, low interest rates and a presidential election. I feel home prices will rise due to supply and demand. We have lots of new employers and lots of new first-time buyers who are sick of paying rent in our affordable marketplace. We have baby boomers buying down and also purchasing condos. LISA KOST: Commercial forecasting is consistent with the economy, in general, so growth is still expected for 2020. January and February were actually still good times to put commercial properties
