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    Reasons the Existing Real Estate Boom Is Far From Over in Tempe

    Tempe real estate

    There has been an increasing pattern in real estate purchases in the previous couple of years. Houses have been selling like hotcakes, so to speak, and many have declared that this real estate boom is far from being over. There are a couple of reasons that have been pointed out which give some insight into the current real estate market and why real estate sales are not likely to reduce for a long time to come.

    Remember we have offices in Wolli Creek, Sydenham, Marrickville, Turrella, Arncliffe, St Peters, Mascot, Bardwell Valley, Kyeemagh, Dulwich Hill and Tempe

    Building Business Not Thriving As Much As Real Estate Sales in Tempe

    There are many reasons the real estate market slows down. One such reason is because of an over-expansion of houses for sale. Although the home building business has been quite profitable, it still has a ways to go in order to overtake real estate sales. This is a good thing because there are not quite adequate houses to meet the current demand which will keep the market booming for a long time. So long as the supply does not swallow the demand, the real estate market will continue to flourish.

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    Rate Of Interest Remain Reasonable

    While rate of interest have increased rather when compared to the previous couple of years they are still fairly low and make lots of people want to purchase a home. These attractive rates assist keep the real estate market going because the majority of individuals need loans to purchase houses and low-interest rates make the general purchase less costly. So long as the rate of interest remain rather stable, prospective homebuyers will still be expressing excellent interest in the purchase of a home simply because low-interest rates make the investment more economical. 

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    Length of the ARM Fixed Rate Portion Is Increasing

    For those who have adjustable-rate mortgages (ARMs), they may have stressed over the adjustable rate part when their fixed rate part was diminished. Just recently the fixed-rate part of the ARM has been increasing with regard to the length of years in which it is active. This has caused stabilizing the real estate market and has likewise attracted individuals to purchase a home via an ARM that has this new lengthier fixed-rate period.

    Turning of Real Estate in TempeNot As Common As It Might Seem

    Some individuals have been concerned that flipping of real estate, which is the purchase and fast sale of the real estate thereafter, is something that may trigger the real estate bubble to burst. However, those who have revealed concern can rest simple understanding that the percentage increase with regard to flipping from 1998 to 2003 is only 1%. When viewing the general scheme of things, a 1% increase within 5 years is not something that must trigger too much concern.

    The real estate market has been doing quite well in the previous couple of years and the above elements integrate to make what some belief is a real estate bubble that makes sure to burst. Whether this real estate boom continues for a long time to come is something which remains to be seen. However, the real estate market appears to be remaining consistent and while home rates may continue increasing supply is not outweighing demand and individuals keep purchasing. So, only the future will show when the real estate market begins decreasing.

    Visit our offices in Tempe and Wolli Creek, Sydenham, Marrickville, Turrella, Arncliffe, St Peters, Mascot, Bardwell Valley, Kyeemagh, Dulwich Hill

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