Buying or Selling a Home in 2015?  Here is what you need to know!

Housing should be a drama-free atmosphere this year.  We are transitioning to a calmer market driven by fundamentals. The economy is growing and the mortgage rates will remain low for a while, however, big gains in housing are unlikely.  The household income has barely risen since the housing market reached a "low" in late 2011, and the home prices are about 20% higher on average.  Another thought - lenders are being very cautious by requiring a hefty down payment and a low debt/income ratio, therefore, buyers are not "pushing" prices us sharply.

3 things:  1) Sellers - no bidding wars are in the near future. 2) Buyers - save interest and check out your options for a 30 yr fixed or a 15 yr mortgage. 3) Owners - it could be a good investment to renovate...either to stay in your home or to be ready to sell !