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2016 In Review And What To Expect In 2017
2016 was a great for many in the real estate industry. Records in the up swing were still being broken since the dip in 2008. As we are optimistic about 2017 we are also cautious. If you are in the game now, you probably have already heard from quite a few people that we are nearing a top of a cycle. No one knows how deep a dip in a market will be, but as investors, we don't make our money buying at the top. The thing we are seeing now is that the experienced investors want to protect the money they have made in this fantastic upswing. In order to do this, adjusting into 2017 will mean making sure that the properties being purchased are very very good deals as the anticipation of new highs across the housing market are being looked at as a bit of a stretch. Right now the markets are a little soft but holding their gains. With the fed raising interest, money will slowly freeze up and it will pull more of a halt to the housing market. Using the current comparable sales as the actual resale number will be much more appropriate as getting that 'higher than market' number will not be the norm any longer. There is still a ton of money to be made in 2017 but proceeding with caution is advised.
Ian Walsh
215.839.3271
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