Many Australians have been attracted by the cheap home prices in the US, mainly because of the higher return on investment, which is not a case on the Australian real estate market.
But the main question is whether buying a US real estate is a worthy opportunity? For many people the answer to this question is YES, and they decide to take the advantage of buying a cheap home overseas. In fact, there are many houses listed for sale for less than $100,000 on the US real estate market.
But even though the cheap prices are tempting, investing in a US real estate involves far more risks than when investing in a domestic property. Hence, it is crucial to hire a professional and experienced real estate agent. Don’t get fooled by the promoters who offer bargain homes for low prices. If it sounds to good to be true, it is most likely to be a fraud. Do a little research and find a reliable agent that has experience on the US real estate market. A real estate agent with years of experience will have the skills and the knowledge to help you make a better investment.
Here are some facts about the US real estate market you must know before making the final purchase decision:
- Although the US real estate market has recovered significantly in the past 2 years, the ‘scars’ of the financial crisis from 2008 still have impacts on the US real estate market.
- Currently, the mortgage rates are being extremely low – 4% for 30 year fixed mortgage. It is expected that in 2015 they will be higher – up to 4.6%.
- The house prices will be also higher in 2015 – they are expected to rice for up to 3% when compared with the prices from 2014. This means that if you want to buy home next year, it is suggested to do it as soon as possible, because the more you wait, the higher the prices.
- Home sells are expected to rise up to 5% when compared to the sale rate in 2014. The rise will be influenced by the newly built single family homes.
- The mortgage for families with 2-4 members will come down for 8% when compared to 2014, due to the huge drop in the finance activity.
- The top US real estate markets for 2015 are:
West Des Moines, Iowa
The Woodlands, Houston, Texas
Fort Worth-Arlington, Dallas, Texas
Sandy Springs, Atlanta, Georgia
According to all these facts and indicators, the home sale on the US real estate market is expected to go up, more than in 2014.