Fosters Mill Village Real Estate Market Report
WHY EXPERTS BELIEVE WE ARE NOT FACING A REAL ESTATE BUBBLE With home prices increasing, interest rates remaining at record lows, and demand skyrocketing, the same question seems to be on everyone’s mind; are we in a real estate bubble? Experts and Realtors agree the answer is no.
PRESENTED BY THOMAS L. SAUNDERS Your Fosters Mill Village Real Estate Specialist Endorsed Local Provider:
ENDORSED BY THE DAVE RAMSEY RADIO SHOW
BETTER REGULATIONS ON LOANS Unlike the Great Recession’s collapse, home loans are no longer funded via low-doc/no-doc loans by borrowers lacking qualifications.
EQUITY IS GROWING QUICKLY 2020 saw an increase of 11%, and this year is on track for another 6% growth. People can sell or refinance and banks still come out ahead.
SUPPLY IS STILL MUCH LOWER THAN DEMAND Lack of supply has been a factor for over a decade and has only increased in the last year, creating massive shortages and dramatically increased prices.
PERMANENTLY WORKING FROM HOME COVID-19 has shown that many jobs can be performed remotely, so buyers are moving to areas that better suit their lifestyles.
NEXT GENERATION INFLUENCE Over 50% of young adults live with their parents. It’s only a matter of time before these individuals are looking for their first home.
BUILDERS CAN’T KEEP UP Some home builders have reported a ten-month waiting time for construction while others are using a lottery system.
When a bubble pops, nothing remains – this is opposite of the current market. Demand is fueling the increase in pricing, rather than low-qualified buyers obtaining loans. Top 500 Award and Ranked within the 150 top agents by Remax of Texas for 2020