Buying a House in Baltimore: Why 2016 is a Good Time to Own Your Home?
The new year brings hope for a better economy, better housing schemes, and improved financial conditions. However, decisions must be based on proven facts and figures. So, what does the year 2016 hold for us?
Market trends show that top 10 hottest housing markets in the USA are very different from the year 2015. From the past few years, technology has favored real estate prices. Tech-oriented areas have gained immense popularity because of increased salaries and growth of high-tech companies. The year 2016 will slow down this process.
Investors will move toward other areas where technology fashion is rising, and prices are low. That means we will see significant growth in developing areas.
Real estate is going to be a good investment provided that ordinary workers will receive increased wages, oil prices will go down, and mortgages rate will stay low. Low-interest rate, increased oil supply, housing affordability and unemployment rates contribute to the overall real estate situation.
The interest rate is supposed to increase by 1% at the end of 2016. Increased interest rate is not going to help you. If you plan to purchase the property, do so before the interest rates are increased.
So, is it a good time for buying a house in Baltimore?
The future is never certain but, statistics tell us “YES”. 2016 is the right time for buying a house in Baltimore MD. Renting is not a good option here. Housing is becoming more affordable, and many new houses are in the construction phase.
You can consider “rent-to-own” methods, but in either way, 2016 is going to be the right time. According to BusinessInsider, you can expect a 8% bargain while purchasing houses in Maryland. That’s a hot deal provided the fact that house prices are supposed to increase by only 2%.
If you plan to invest in real estate whether for personal or commercial reasons, feel free to contact me for guidance. No upfront fees or costs are involved.
Thanks.
Best Regards,
Shaun!