TrakLogix

Appraisal Management Software

The appraisal order tracking and management platform Built FOR appraisers and BY appraisers

Try it Now FREE

TrakLogix’s 2014 Real Estate Predictions:

With a slowly recovering market and many new regulations set to take effect, 2014 will bring many changes to the real estate industry. See TrakLogix’s 2014 real estate predictions below.

US Home Values will increase

  • Prices went up 11% in 2013
  • Rate of rise expected to slow in 2014 to 4%
  • Rise driven by owner-occupiers (as opposed to investment buying) and mortgage dependent buyers, more sellers and slowed home price inflation

 

Mortgage rates will go up, possibly to 5%

  • The economy is slowly improving
  • Inflation rate is rising
  • This should not be enough injure the housing market

 

Getting a mortgage will be harder in 2014

  • QM – Qualified Mortgage rules come into effect on Jan 10, 2014
    • Debt cap requires that there be no new mortgages or refinancing for borrowers whose debt payments are more than 43% of their monthly income
    • Debt cap includes more kinds of debt: student loans, home purchase fees and property taxes
    • High unemployment rates from the Great Recession will make it harder for many to qualify based on employment history standards
  • The MBA estimates that loan originations will drop 10%
  • Dodd-Frank makes it harder for lenders to foreclose on borrows, which may cause them to make fewer loans

 

Home ownership rates will fall, possibly to lowest point in nearly 20 years

  • Forecasted to go below 65% for the first time since 1995
  • Factors:
    • Foreclosures that are in process will be completed
    • Home prices and mortgage rates will both go up
    • The middle class is shrinking, lowering the amount of people with the financial ability to purchase a home
    • More people are choosing to live in urban areas where they will rent because the cost of ownership is much higher
    • Adults under 40 have high rates of debt and new QM rules will prevent those with large car and student loans from being able to get a mortgage

Don't Take Our Word For It, Our Satisfied Clients Say It All

Check out the testimonials from our happy customers below

Testimonials

Fast Responses!

We really appreciate the fast responses to our initial setup questions and the system has performed well. Thanks Guys!…Read More

Eval Solutions

Excellent Customer Service

Your team member has been so helpful in the setup and installation of our new AMC, thank you so much for all of the excellent customer service and attention to detail.…Read More

JQL consulting

Turn times are faster

After one week - I already saw a difference! My turn times were faster, and my customers were already sending more orders! Thanks guys!…Read More

Don S. - Residential Appraiser

Powered by Top Rated Local®

uxicached