With many in the nation expecting a Federal interest rate hike soon, speculations about its effect on the real estate market abound. To gain perspective and insight, a review of its behavior in response to national changes may help buyers, sellers and investors make more sound decisions about homes for sale in East Sacramento. When it was announced that the Federal government was reducing bond purchasing in 2013, the interest rates rose and buyers backed off making purchases. The government shutdown from October to November of 2013 also resulted in fewer end-of-the-year sales and prices declined 4.5% between October and January. The Affordable Care Act also affected the housing market as well as accounted for a decrease in the GDP by 2.9%. Sales in 2014 were lower than the year before by 17% for January and 22% for February. In most markets, January is a slow month for sales, but considering other factors, a slower than normal start to the year was the result.
This year a strong job growth is expected for the rest of the year. President Obama explains that the economic policies have led to 62 straight months of hiring and that there have been over 3 million jobs created and available over the last 12 month period. Keeping the interest rates low to stimulate the economy was the goal. A strong economy will decide when the interest rate will increase. During a press conference, Janet Yellen, the new Federal Chair alluded to raising the interest rate, the market reaction was a drop of over 100 points. Everyone knows the interest rates are not going to stay this low forever and that an increase can also be a sign of a healthier economy. Many want to purchase their new home while rates are low and money is less expensive to borrow, but finding the right home should always be the first consideration about homes for sale in East Sacramento. For this you need a professional, knowledgeable Sacramento real estate agent.
Having a professional realtor in Sacramento to lead you to the best purchases, finding the best buyers and pointing out the best investment properties will help you negotiate the Sacramento real estate market with no surprises. Someone who has lived and worked in Sacramento and knows the market and lenders that can help you achieve your goals is who you need in your corner. Whether you would like to be part of the vibrant Midtown Sacramento scene with near the state capitol with restaurants, cultural activities and the night life that offers town homes, condos and old Victorian homes, or near Land Park with distinctive architectural styles including Mediterranean style villas, Tudor style homes and English cottage, your Sacramento realtor can find exactly what you want and lead you through the purchase process from finding your ideal location to closing, and then after keeping you abreast of you financial options. Knowledgeable and experienced, Mike Klein, east Sacramento Real Estate Specialist, can make your dream home a reality.
“If you would like to know more about me, my background and the work that I’ve done, or if you would like to discuss the East Sacramento real estate market and other Sacramento real estate listings, feel free to get in touch with me!” You may contact me directly at 916.502.2775 or email me at firstname.lastname@example.org.