This is not meant to be a political post. With that said, we do need to discuss the real possibility that a Trump Presidency could affect you. But how?
Well, it all depends on what you're planning on doing this year.
Are you changing health plans? You might want to wait and see what he plans on doing. If you are under the ACA, you probably won't be affected too much but we will have to wait and see. This health care issue is going to be confusing and tricky. If you are under your own insurance or an employer's insurance, you probably won't see much of a difference.
Are you going to buy a house this year?
Well, in general, the real estate market won't change a whole lot, however, for Portland, home prices continue to rise and inventory is low. We are seeing this all up and down the west coast. Seattle is even worse. But just over the river in Vancouver, prices are much less! Home prices and rental prices for the same property are upwards of 10% to 30% less! This might be an option if you're looking for a home in Oregon and just can't afford it here. (By the way, our agents can buy and sell in Washington too)
Rates will not drop but they won't skyrocket either. If you've been on the fence about a refinance, now would be the time. If you can get at least a 1 point drop in your interest rate, do it! Rates are anywhere from 3% to 5% depending on the program and your credit. (Talk with Brent Palmer and his team for the best options in home loans)
Immigration? I'm not even going to go there....
With all this being said, the basics of what I know is real estate and if you have been wavering on selling, buying or investing, let's do it in 2017. Real estate is always a good investment. Trump knows this for sure, so be assured that benefits to buying and selling real estate will not go away. We don't want another housing bust and some of the transactions he's making now will help assure that only those that really CAN afford a home, will buy. That's not a bad thing. One of the worse things people can do is get into homes they can't afford and then lose them and we are stuck with thousands of foreclosures ... AGAIN!
So, don't stress. I can't speak for everyone but I can tell you that 2017 will be a great year to buy a house.
Want to get started? Call us today.