Thursday, April 7, 2016

Real Estate: 2016 Will Be the Best Year in a Decade

Have you heard the news? What will it mean for you?  

A few weeks ago, Jonathan Smoke, the Chief Economist at, exclaimed“All indicators point to this spring being the busiest since 2006.”
Now, Freddie Mac has doubled down on that claim and is saying that 2016 will be the best year that the real estate industry has seen in a decade. In their March Housing Outlook ReportFreddie Macexplained:
“Despite the challenges facing the housing market, we expect this to be the best year for housing in a decade. Home sales, housing starts, and house prices will reach their highest level since 2006 according to our latest forecast…Challenges remain, with low housing supply and declining affordability being a key concern in many markets, but on balance, the housing markets in the U.S. are poised for the best year since 2006.”
The key indicators that have given Freddie Mac such a positive outlook are:
  • Low interest rates
  • A resilient labor market
  • An increase in household formations
  • A projected increase in newly constructed homes

Bottom Line

2016 looks to be shaping up as a great year for residential real estate. Whether you are thinking of buying or selling, we should meet up to discuss the new opportunities that are arising in the Wilmington area market. 

Azalea Festival + Open House! Great Weekend Ahead!

There are so many exciting events planned for the NC Azalea Festival this weekend! Street market, parades, concerts, parties...  And with azaleas and other spring flowers in exuberant bloom, it's a beautiful time to stroll around Wilmington's charming Historic District. I'll be downtown both Saturday, 10-2, and Sunday, 1-4, hosting an open house at 413 Church St. Please stop by and see this sweet ca 1903 bungalow that's been converted into a duplex.  Register for a drawing to win $500, too!

Want more info about this great cash-flow duplex? (Seriously! It grossed $2,100/month in rent!)  Here's a link to details and photos about 413 Church:

Hot Property - 413 Church St  

And here's a link to all the info you need for the Azalea Festival, including where to park, events, how to get tickets, and more:

NC Azalea Festival website  

Have a wonderful weekend!    We're looking forward to seeing you at 413 Church!

Mary Lynn