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2016 Smith Mountain Lake Real Estate Trends

real estate trendsAs we at Deb Beran Properties bid 2015 a fond farewell and embrace a new year, we thought our blog readers might enjoy an early glimpse at the real estate trends coming in 2016. With helpful guidance from realtor.com, we take a look at what you can expect for real estate and housing at Smith Mountain Lake in the next year.

Freedom to See Dreams Fulfilled

In 2015, real estate trends finally extended beyond the limitations of the recent housing crisis and began to look like what you’d expect from a healthier economy. Financial health and stability will continue to influence Smith Mountain Lake real estate trends, giving homeowners and homebuyers the freedom to see their real estate dreams fulfilled. Those who were still cautious over the past year will feel more secure in 2016 about the big changes they’ve been wanting to make for a while now – renovating, overhauling the dock, selling their home or buying their dream lake property.

We can’t wait to serve those who are ready to see their dreams fulfilled and buy or sell at Smith Mountain Lake in the coming year.

A Boost for Builders

Real estate experts will often tell you that new building construction is usually the first to be hit by a recession and the last to recover, which is why a look at the local building scene can tell you a lot about real estate trends and health. We predict a boost for building, and Smith Mountain Lake builders, in 2016, which will make the area feel more prosperous than it has in a while. Even if there’s been a pick up in construction in the past year, the long return to a truly booming building scene will come full-circle over the next year.

A Real Estate Family Affair

While it’s always been true that some families make real estate decisions together, we predict that the increase in older children moving in with their parents, or remaining close to home after graduation, will influence real estate decision making even more in 2016 than it has in decades. We wouldn’t be surprised to see more Smith Mountain Lake parents leaving real estate decisions up to their children, with the hopes of having them and their children remain close for years to come. This will probably look like single-family homes built or renovated to house more family members, land divided between heirs and location choices based on accommodating more members of the family.

In summary, 2015 set home buyers and homeowners at Smith Mountain Lake up for a thriving, dream-fulfilling 2016. Thanks to a healthier, more settled economy, we forecast many positive, hoped-for real estate trends to hit our wonderful lake community in the next year.

Category : Smith Mountain Lake Real Estate

 

 

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