Hey y’all! I hope you are all staying safe. I haven’t been in the best mood as the stay at home orders mean that I can’t get together with the band for jam sessions. No concerts or gatherings either. So this is a guest post from my real estate expert friend!
As of this year, the CDC has confirmed almost one million cases of Americans infected with the COVID-19 virus. Unfortunately, tens of thousands of Americans have died as a result of this pandemic virus. No matter where we look, we see that we are in the middle of a crisis that will be recorded in history. What does this suggest for those wishing to sell or buy a home in the middle of a pandemic?
This article discusses some real market estate trends to look out for in this new decade.
Some cities will notice an increase in home prices. The median home value has gone beyond pre-recession peaks. It is now greater it has ever been within the last decade. Hence, major cities may be out of the price range of today’s millennial buyer segment, which is is a substantial part of the makeup. Most will forgo the expensive options of living in major cities and opt for more affordable options in the suburbs.
Interest rates are projected to stay low. Economic improvements remain to be seen. However, if so, the federal government may raise interest rates to meet inflation, as they have in recent years. Therefore, prices for consumer goods may also increase. The national rate of appreciation is anticipated to increase along with home valuations over the following twelve months. We may see that homes will appreciate at a rate that is a bit more reasonable than in previous years. However, the economics of supply and demand will inevitably test the market and apply pressure.
When it comes to buying a house, homeowners should definitely consider a termite and pest inspection.
Importance of Conducting a Termite Inspection before Buying a Home
A termite inspection can determine if there is any structural damage from termites or other pests. The inspector will disclose any problems they discover. The future homeowner will then know what type of maintenance they may need as the home’s future owner.
Moving to a new home can feel like a beautiful dream, and that’s why it is crucial to ensure that it doesn’t turn out to be an unexpected nightmare. Without a termite inspection, a homeowner may overlook serious structural damage and issues, which will cost them more down the road.Read Stephanie T.‘s review of Grand Oaks Termite Control on Yelp
A termite inspection can take anywhere between thirty minutes to hours depending on the home’s size and crawl space, basement, or additional areas. The inspector will check the home’s exterior and interior surfaces for any signs of infestation, damage, or other areas that might be prone to termites.
The termite inspector may suggest frequent termite control to keep the critters at bay, especially if they were discovered during a termite inspection. You can give Grand Oaks Termite Control a call today.
Grand Oaks Termite Control
110 S Worthy Dr, Glendora, CA 91741, United States