A Good Year For The Housing Industry
We’ve gone through some interesting times and seen some very interesting trends in economy, finance, and real estate; until last year, most of them were, unfortunately, on a less than positive side. Well, here we are in spring 2014 and things are mostly sprouting! First we’ve seen a positive shift in 2013 with the housing recovery bringing light to the dismal economy. A recent article in Forbes states that the outlook for 2014 is mainly bright when it comes to housing.
Online real estate database Zillow predicts rates will go up to 5% by the end of 2014. So the rates may rise a little, but “The silver lining is that getting a loan will be easier,” says Lantz, VP, Mortgages at Zillow. What that means is that more people will be purchasing rather than refinancing, a change for the first time since 2000.
Also, as seen on Investopedia.com, some house prices will continue to rise, but at a slower rate than in 2013; that means that more homeowners will emerge from being underwater, putting them in the position to finally buy and sell properties.
Many people were caught in the complicated housing net in the past years, and we’re all glad to see the light. If you’ve been trying to get approved for a mortgage in the State of New York to no avail, this could be your year. As real estate attorneys, we can help make the process smoother and bring successful outcomes. Our mortgage lawyers represent borrowers with respect to the negotiation, review & closing of their mortgages. Whether this is your first loan, refinance or line of credit, our lawyers are here to help.
Once you’re ready to purchase or sell your residential real estate in the state of New York, turn to a professional legal firm for assistance. Our experienced real estate closing attorneys assist buyers and sellers with the purchase or sale of their co-ops, condos and single or multi-family homes.
Now, if you are buying or selling commercial or industrial real estate or a building with 4 or more units and you need help with negotiating the terms, conditions and contingencies of these complex transactions – let our attorneys assist you; they have closed many commercial & industrial real estate transactions.
Whether you need NYC real estate lawyers, Long Island real estate attorneys or a Brooklyn real estate attorney – you can count on us at Levin Law Group. For other areas where we serve in New York state, as well as for other real estate legal services we provide, please visit our Practice Areas, or the Home Page for our multiple locations.
It looks like 2014 is going to make many dreams of finally owning a home – a reality. Contact us to help you make it happen.
*The contents of this document are not legal advice and are not to be treated as such. Before making any decision or taking any action, Contact Levin Law Group for actual legal advice.