Are you interested in buying in a home in 2018 for worthwhile investment?

The year of 2018 is an excellent year to buy a home in the United States, but there are several factors to consider.

Additionally, there may be variation based on your geographic location, which is important to consider in your search this year.

Overall, housing prices continue to rise this year, as they have over the past few. But, there are some interesting trends to keep an eye on.

This way, you can pinpoint the exact time you would like to jump headfirst into homeownership, knowing what is likely to come.

Check out these six real estate trends to consider if you’d like to purchase a home in 2018.

1. Home Sales Could Rise

The sales of new homes are expected by the market to rise to a median of 7%, to 653,500 brand-new, built homes.

However, the sales of existing homes are expected to rise more moderately, with the median estimate being they will rise 2.5%, to 5.6 million units.

Based on current market research, the Southern states are predicted to show the most growth in 2018, particularly in Dallas, Tulsa, Little Rock, and Charlotte.

Meridian, Idaho is another great area to consider purchasing a home in 2018, with an abundance of houses on the market. This site is a great resource for the Idaho market.

The growth of these markets is likely due to the decreased regulation, as well as the cities having strong local economies.

2. More Homes Are For Sale

Overall, there are more homes for sale this year in terms of real estate trends. However, home buyers are still struggling to find houses for sale for the most part.

Essentially, there is still more demand than there is supply this year. There are many potential explanations for this, the first being that baby boomers are generally staying in their homes rather than downsizing.

As well, investors that purchased homes after the housing crisis may not be selling their properties because the profit margin is higher for them as landlords.

Lastly, as for new houses, home builders often opt for more expensive new builds rather than smaller ones in order to make a higher profit.

However, experts predict that supply will pick up sometime in late 2018, so don’t fret if you feel there aren’t enough options on the market.

3. Mortgage Rates Increase

Unfortunately for many home buyers, one real estate trend to note is that mortgage rates continue to increase in 2018.

The data provider CoreLogic averaged six key predictions for mortgage rates in 2018 and averaged a 30-year fixed will be at 4.7% in December 2018.

As a point of comparison, in November 2017, the 30-year, fixed-rate mortgage averaged 4.07%.

Notably, this is the highest mortgage rates have been for seven years, since 2011.

But, mortgage rates are known to be difficult to predict, so this projection may end up faltering, but time will tell.

4. Home Prices Decelerate

The best real estate trend for first-time home-buyers is likely the slowdown of appreciation on homes, for the first time in a few years.

In 2016, prices rose 6.3%, according to the Federal Housing Finance Agency. It followed a similar trend into 2017.

However, in 2018, the median forecast among six different industry and lender groups is for a 4.1% increase in appreciation on existing home prices in the United States.

This deceleration of value may be because of new homes being built in 2018, which based off of current building permit applications, is expected to rise 8% this year.

5. Affordability Declines

With both mortgage rates and home prices on the rise in 2018, one real estate trend is the decline of affordability.

The combination of the rise of mortgage prices to 4.7% and 4.1% for the median price of existing homes rises could markedly increase the amount paid each month for families.

However, because many people air on the side of caution in terms of purchasing a home within their budget, they will likely still have some wiggle room to pay slightly more.

6. Tax Reform Impacts Market

The tax reform preserves the old capital gains exclusion. However, the mortgage interest tax deduction is going to be dealt with differently beginning next year.

In filing for the fiscal year of 2018, the new law reduces the maximum amount of mortgage debt when you acquire a first or second residence, which you can claim itemized interest expense deductions.

These range from $1 million for married couples, to $750,000 for married couples.

Additionally, the new tax law will limit your deduction for state and local income and property taxes to a combined total of $10,000 for married couples.

Overall, 2018 is still a great year to purchase a home, whether you are looking for an investment property or a humble abode for your family.

It is important to consider how mortgage rates may change, as well as the rate of appreciation on existing homes.

The consistent flow of new homes on the market will also begin to have a larger effect as these begin to sell more.  This may prompt more people to enter the real estate work force which will increase the need for a quality real estate practice test exam.

Deciding if a new home is a right option for you will greatly depend on the market you are exploring, as well as your individual preferences.

Lastly, in making your investment, consider how the new tax reform will impact your filing and deductions in 2019.

These deductions could affect how affordable a home is for you, or if simply would not be feasible. Buy a home that is within your means, and leave yourself some wiggle room for future fluctuations in rates.

For more financial information, check out our post on three mistakes people with debts should avoid making.

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How Apps Can Help Your Business Thrive

There are many things you can use to help your business thrive, but apps are certainly up there. They represent how powerful technology has become, and how much it matters to our businesses. So, check out how apps can help your company thrive and grow as much as possible.

Connecting with more people

As a business owner, you should always be looking for ways to connect with as many people as possible. And the way to do this is to ensure that you use apps to your advantage. For instance, you might consider creating a business app.

This will allow you to interface and connect with a whole new set of customers. You will be able to appeal to them through their smartphones wherever they may be. And this is an excellent way of raising brand awareness, and connecting with more people.

Do work on the move

When you run a modern business, you’re going to find you’re a busy person. You will be moving around a lot and traveling quite a bit. And this is where you need to make sure you have plenty of apps.

You see, there are certain apps these days that allow you to work remotely. No matter where you are, you can still be sure you’re running your business.

And this is vital for ensuring you are always connected and constantly evolving. Working on the move is a vital part of contemporary business, and you need to make sure you do it as much as possible.

Payments

One of the best things that apps can do to help your business thrive is through payment methods. The best businesses are the ones who offer the most amount of payment methods.

Customers hate having to wait around to get what they want. And the fact is that you could easily lose sales as a result. So, you need to use any sort of small business app that can help with payments.

That way you can process multiple transactions at once, and increase the sales you make. Instead of simply enjoying a lot of leads and a few sales you will be able to convert every lead into a sale on the spot.

Marketing

It’s vital to look at every possible avenue you can to market your business. That means you need to think about using apps to help you promote and advertise your brand.

There are so many things you can do in this respect, and it’s really a case of deciding which to use. The best thing to do would be to get social media apps on your laptop or smartphone. Things like Twitter and Facebook are vital for marketing the brand.

And you can use the apps for instant connectivity and interaction. These allow you to update and promote your business at any time of day or night, wherever you are.

The good thing about owning and running a business these days is that there is so much out there to help you. Indeed, technology has developed to such a degree that we can use it to help our businesses so much.

If you harbour ambitions of developing a successful and thriving brand, you will need to make use of technology. And smartphone apps are one of the best formed of technology you can use these days.

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