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Optimism in the Housing Market

November 26, 2012

From Loan Officer Daphne Tapp

A variety of surveys point to an encouraging conclusion – across many different sectors of the real estate market, people are becoming more optimistic about the future of housing.

More home buyers, sellers, real estate professionals, and investors are expressing confidence that interest rates, home prices, and the overall climate for buying and selling property is finally taking a positive turn.

According to Fannie Mae’s National Housing Survey, which came out in September 2012, an increasing number of Americans think home prices will begin to increase in the next year. At the same time, fewer people than before anticipate an increase in mortgage interest rates. Perhaps because of these two beliefs, 72% say it’s a good time to buy a home.

Interestingly enough, home sellers are also feeling more optimistic about real estate. This group, which was hit hard by the drop in home values, is showing enthusiasm about the improving market. In the Fannie Mae survey, 37% (the most since the survey began in 2010) believe home prices will go up next year.

Investors, who have a profit motive for purchasing real estate instead of an emotional connection to the idea of homeownership, demonstrate their confidence through their buying habits.  What do they think? Well, 65% of investors have confirmed they plan to buy more property in the next 12 months.

As the market rebounds, it’s important that you’re partnering with a lender that has expertise in the unique challenges of today’s market. One that offers innovative services for your customers, such as local appraisers and second opinions.

Talk to your loan officer about how our first class customer service along with our competitive loan programs can help you grow your business.

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