What to Expect From the 2017 Real Estate Market

What will happen in the 2017 real estate market? No one has a crystal ball, but I do have a few predictions to share with you today.

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What can you expect from the 2017 real estate market?

One thing that you can count on is that interest rates will go up this year. Since 2010, we have been in a marketplace where you can borrow discounted money, so plan on rates going up a bit. That said, back in 1982, interest rates were at 17%, so going from 3.8% to 4.1% is not a big deal. That is just a $60 increase in your monthly payment, so relax and focus on your home buying process.

The good news is that areas like Denver, Dallas, Florida, Washington, and Oregon will see great appreciation this year. When I say great appreciation, I mean anywhere from 8% to 10%. This is great news for those who already own homes and those who are entering the market.

Home prices still have room to grow. Due to some of the great changes in the mortgage industry, we are not in a housing bubble like we were back in 2007. These days, Fido the dog cannot get approved for a mortgage, so we won’t hit the major, crazy bubble that everyone is worried about.

We are not approaching another crazy real estate bubble.

Now, we saw some of this last year but in 2017, millennials will hit the real estate market in a major way. They have been saving money, studying the home buying process, and figuring out what they need to do in order to successfully purchase a home.

One great thing about working with millennials is that they are incredibly tech savvy. They are downloading apps, like mine, to search for homes. They can even download, sign, and submit documents directly to me so that I can send them a pre-approval right away. Many home buyers can learn a lot from millennials.

If you have any other questions about the 2017 real estate market or if you are interested in my app, please don’t hesitate to reach out to me. I would be happy to help you!

About

Colorado Realtors best friend, I have a passion for helping Realtors to help their clients and increase their business. I'm known for giving them the best service in the industry. I've been in the mortgage business since 1998 and have done every aspect form being a loan officer that worked a loan from lead to closing all the way to managing multiple loan origination teams in the role of an area vice president.

I enjoy people and I have worked with people from all walks of life such as professional athletes, doctors, lawyers to school teachers. I take pride in what I do by striving to be the best, I approach my clients success by education and consultation. It's my job to make sure all clients be it a realtor or a consumer understand the loan process in full in order to make the best choices. I make your financial success my job and it may start with a home purchase!

Mack Humphrey
Fairway Independent Mortgage Corporation

8480 E. Orchard Rd., Suite 2100
Greenwood Village, CO 80111

(720) 771-1308
mackh@fairwaymc.com
mackhumphreyhomeloans.com

Client Success Stories

Sam - “Everything went well working with Mack, the results were exactly what we were looking for! I used to do loan origination so I was probably a pretty easy deal because I know a lot of the process, but what I appreciated was what I like to call “the machine” that he has set up. The fact that his entire team was doing his weekly follow-ups with me and that he had an emails set up so that we could get updates on everything along the way was really great. All of that was beyond what I was accustomed to. I appreciated it because he constantly kept me in the loop through all of the resources that he has.”

Christina - “They were perfect while working with Mack! I’ve know Mack for many years and when we decided we wanted to sell and buy it was a no brainer to go with him. I sent him an email and he had everything ready to go within the next couple days. He is loyal and always kept us notified about what was going on. We got our standard emails but he also would take the time to give us a call and shoot a personal text or email. His communication was great!”

Bradley - “Mack was outstanding! He is family-oriented, had great follow-up, very timely, detailed, and thorough. We never had to worry. During the process we moved to a higher price range and Mack was very crisp in getting us figures on how much our loan monthly payment would be that same week so we could make some quick decisions on it. At the closing he even brought us a $50 to Bed, Bath and Beyond and a bottle of wine to congratulate us which was really, really great!”