Forbes and other reputable publications have predicted a continued rise in interest rates over 2019. The initial shock of the Fed’s action caused a slowdown in real estate markets over the final part of 2018. As the shock wears off, experts are divided as to whether more expensive money will continue to translate into lower housing starts and occupancy rates for primary markets.
A growing supply of housing, volatility in the marketplace and risks in the development process all affected the multifamily market in 2018. In 2019, these three factors will continue to move the needle.
Last week’s economic reports included readings on inflation and retail sales. Weekly readings on mortgage rates and new jobless claims were also released.
A title search is an early warning system for buyers and lenders. It reveals flaws the owner must resolve prior to a closing or refinance request. This allows the owner to clear any clouds on the title so that the process can move forward. Also, it protects the buyer or lender from assuming an obligation they aren’t responsible for.
So, as you make your annual resolutions or consider revamping your home, it’s worth knowing them. After all, we all adore coming back to a place that makes us happy and helps us disconnect from tough days at work.