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2019 - How will the market change?

Happy New Year everyone!
What a tumultuous start of the year. Interst rates rose a 3rd time in  a row and the government shut down is starting to even impact the housing market.

Financing your purchase in 2019 will cost more, the question is how this will influence the market.
The past 3-4 yearsit was a hot sellers market , actually burning hot. Sometime one just threw offers on multiple properties to see what would stick. The average buyer had to submit 5 offers in the $250-500000 range in the right area. Even properties with serious flaws sold for record prices or it was just facinating that they sold at all. Towards the end of 2019 the market seriously cooled down and finally gave buyers time to look at a property twice and actually made a decision with less pressure.
The market is in the process of self correcting itself.
Of course the spring market is always full of surprises. Like always, location, condition and the right price will bring sellers the best sales price and the lea…

Predictions for 2018 in the realestate market

My # 1 question, I get all the time is: "Where is the market going?"
If I could answer this with 100% certainty, I wouldn't be selling real estate.
But since I do not have a cristal bowl, I can only look at the market, use statistics and look at the trend in our local market.

The real estate market is always local, very local, depending on schools, jobs and the state of the economy.

In our area, especially Chester County the market is on a solid upward trend since 2012.
It is still going up. we have lots of buyers in the market, actually 6% more buyers in the market than last year at the same time.
Why is this? Looming interest rates? People still want to lock in at these historic low interest rates.
people are feeling positive about the economy. Anbd then of course Chester County is one of the most beautiful places to live in the US.

What kind of market are we in? sellers of buyers market. We are still in a slight sellers market. not enough properties are on the market,…