What to Expect in 2021
As 2020 comes to an end and coronavirus vaccines start to get released, many predictions are being made about the real estate market in 2021. This week, on the brink of the Christmas holiday, The Motley Fool has released the 3 housing trends they are watching in the new year.
Even though the inventory shortage is a huge issue across the country and will likely stay that way for a while, however, inventory that was not available this year, will open up next year. If the economy starts to see some stability as the pandemic starts to subside, potential sellers who were hesitant this year will be more open to selling. Seller’s will be less worried about health and safety in 2021 due to the vaccine, they will also be more open because they may feel more secure about the options they will have to buy once they sell their current property. Agents like Amin Vali can talk a current seller and a future buyer through the entire process and ensure that all the steps are being taken at the right time.
Areas that are not densely populated and don’t have overpriced property have become extremely popular since so many people are working from home. These towns are being called zoom towns. They are continuing to grow in popularity and that likely won’t change for some time. However, the downside is that property prices in these areas will likely go up due to the increased demand.
As people leave cities to get away from high rents/mortgages and crowds (due to the virus), the overpriced properties in major cities will likely experience a price drop. This is not a permanent price drop, but it will happen. If you have property in such areas now may be a time to sell. If you are hoping to invest in a major city area, 2021 is the year to do it. Amin Vali Real Estate Investment can provide you with more information about your options all throughout California.
Interest rates will likely remain low for much of 2021 so if you are looking to sell your property for an upgrade in 2021, now would be the time to start the process.
Civil Engineer, MBA, Real Estate Agent
Amin Vali Real Estate Inc.
Persian Realtor,Persian Real Estate,
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