Over the last 24 months the Real Estate market has been hot across Orange County.
We’ve seen home prices increase rapidly and many homeowners who were once underwater were able to recover equity that they lost in their homes during the collapse of the Real Estate market.
Now that the market has recovered many people are wondering if another market downturn could be around the corner and if they should be worried about it.
Home Prices Are Normalizing
As we approach the end of 2014 we’re beginning to see home prices normalizing across Orange County and the United States.
Demand Is Getting Back To Normal
Besides home prices normalizing we’re also seeing the demand for homes normalizing as well because with fewer cash buyers on the market there is more home inventory available for the traditional home buyer who is interested in buying a primary residence or investment property.
Low Mortgage Interest Rates
Another important fact about the Real Estate market right now is that mortgage interest rates are still hovering near 4% (or lower) and this means a real opportunity for home buyers to pay a lot less for homes over the lifetimes of their mortgages than they would have before the recent collapse of the Real Estate market.
Keeping the Market on Track
Last of all, but most important, we’ve seen the Federal Reserve and the Obama Administration continue their commitment to keeping the Real Estate market on track and that’s not likely to change over the next 24 months as the Fed’s recent actions show that mortgage interest rates will continue to stay low for the near future.
To learn more about what’s really happening with the Real Estate market or to view homes for sale across Orange County contact Fred Sed & Associates today by calling us at (949) 272-0125