SELLER FINANCING WILL BE POPULARIZED
The optimistic outlook arises from several factors, including rising interest rates, inflation, and stricter rules for giving out loans. These changes have made the real estate market more unpredictable. In many cities, the prices for renting have reached their highest point ever recorded. This trend is expected to continue because there are ongoing issues like insufficient available properties, rising construction materials costs, and limited financing access. As interest rates have increased, some valuable properties have encountered financial difficulties, presenting significant chances for multifamily investors to explore. RENTS WILL GROW ONLY IN SOME AREAS
PROPERTY PRICES WILL RISE
Housing markets should be heating up along with the weather this spring! The Fed has signaled that interest rates will remain stable or will decrease. The banks have gotten the memo, and it’s likely that lending terms will be more flexible and interesting. More buyers and easier money mean rising prices. In addition, rental markets will continue to be tight due to high property prices, which make homeownership difficult in many markets. Add to the in-migration, and I think 2024 will be another year of property price increases.
The multifamily market will remain strong in CT/MA. There is limited inventory and high demand in the niche market we service. Rents are at an all-time high and the vacancy rate is very low. Many of our sellers are offering seller financing and/or have assumable loans with very attractive interest rates. The buyers are willing to put down higher down payments to take advantage of the favorable interest rates. Most of our clients are career investors with short-term, mid-term and long-term strategies that serve them in each cycle of the market. Those who are prepared for anything will come out on top this year.
THERE ARE ONGOING ISSUES LIKE INSUFFICIENT AVAILABLE PROPERTIES.
MANY OF OUR SELLERS ARE OFFERING SELLER FINANCING.
MORE BUYERS AND EASIER MONEY MEAN RISING PRICES.
Gita Faust Accountant and Consultant Fast Trac Consulting Connect with Gita
Lisa Cozzi Berkshire Hathaway Home Services Hartford, CT Connect with Lisa
Terrie Schauer, PhD Real Estate Investor Author of Mindful Landlord Connect with Terrie
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