Economic & Political Indicators and Factors That Might Impact 2015 Home Market

Beware of anyone who states that they can state with absolute certainty or guarantee what is going to happen in the future! It is, therefore, precisely for that reason that potential home buyers and sellers, as well as real estate professionals must keep a careful eye on certain things that might have an impact on the housing market. Some of these include:

Federal Reserve actions (or inactions): DO NOT merely listen to the hype, or overly depend on the intuitions, suppositions, etc. of the so - many, so - called experts! Rather, look at the copy of the actual minutes of the Fed meetings when they are released, and learn what actions might be taken, and when. This includes items such as interest rates, monetary policies, bond buybacks, etc. The more, and better, you know and understand, the better off you'll be!

Credit company policies: Companies such as Experian, TransUnion, etc., have individual policies that might impact credit ratings (and specifically, yours). Get your free copy of your report annually, and take advantage of looking at your credit score when your credit cards might provide this information (e.g. Discover, Juniper/ Barclays, etc. provide your Credit Rating monthly). You can also use websites like CreditKarma and see for free your relative scores. Do all you can to maintain the highest possible personal score.

International events: Events elsewhere in the world often impact our economy at home. Read, study, take courses, and learn as much as you can, to best position yourself. Some of these factors may include: Economic upticks or slowdowns; wars/ unrest/ fears/ battles; oil disruption (or fear of such); terrorism; widespread computer hacking, etc.

Your local real estate market: Housing demands, pricing, etc. vary dramatically from region to region. Keep an eye on your local market, using websites such as Multiple Listing Service, Trulia, Zillow, and many others, to examine such relevant components, such as: homes on market; average length on market; comparison to your house; features; etc. Sellers should price their homes right from the start, and buyers should be realistic and pragmatic, in order to get the optimum results.

Politics: Are there any laws, codes, etc., that might have an impact, either positive or negative? Don't only look at what's on the books now, but take into consideration proposed changes, etc. For example, building lot size; property taxes; mortgage tax and interest deductions; proposed projects, etc. that might change things, etc.

DON'T FORGET YOUR GUT! But be lead by your head, NOT your heart alone!