Real Estate Predictions for 2014 (in Ann Arbor, MI)

    Ann Arbor Michigan is a beautiful city full of greenery, cityscapes and gentle rolling hills. Also home to the University of Michigan, Ann Arbor enjoys the intellectual and progressive flare appreciated by college communities. Home values in Ann Arbor have not suffered the severe financial loss from foreclosures and underwater mortgages like similar Michigan communities, but Ann Arbor has experienced the uncertainty that is shared by many communities in the U.S. over the past few years.

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    Real Estate Predictions for 2014

    Experts predict a steady and modest home price increase for 2014. This is good news for buyers who are reflecting and trying to visualize but need time to research and compare. Some foreclosures and short sales are available, but they are quickly being absorbed and require quick action. For sellers looking to upgrade, 2014 will have some great opportunities.

    Rising Confidence

    After years of dismal news, these predictions of slow and steady recovery are great news. This moderate activity is expected to last one to two years and at the end of the steady gain, values will return to levels enjoyed in 2005, the last year before the bubble burst. The real estate market actually turned the corner in 2012 and is just now beginning to feel a little like a recovery for individual home sellers.

    Red Flags

    To continue the recovery, individual homeowners should be mindful of red flags or bumps in the road.

    • Restrictions on mortgage credit could dampen buyer enthusiasm and ability.
    • The recovery could cause inflation which is good for home values, but also creates fear and volatility which would have a negative impact. Awareness is important.
    • The job market is currently improving and unemployment is decreasing. An increase in unemployment could shake a fragile recovery.

    For homeowners who need to sell, homes can be sold with professional pricing and marketing strategies. 2014 will be a great year to make big decisions because while the marketing is moving steadily in a positive direction. But there will be time to sleep on major decisions.

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