10 Predictions for 2014 from The Somers
It is hard to believe how quickly 2013 went by ! We were super busy all year selling properties and have a feeling 2014 will be just as busy, it not more...
So to get right at it, below are some of our 2014 Predictions:
1. The Philadelphia Real Estate Market will have its third straight year of appreciation.
2. The top appreciating zip-code will be 19122 (South Kensington).
3. The 10 year tax abatement will be altered by City Council to be a five years with a full abatement (years 1 through 5) and the next 5 years being a phase-out (years 6 to 10).
4. The worst performing zipcode will be 19133.
5. Ori Feibush will gain momentum as a candidate for Philadelphia City Council.
6. Mortgage rates will test 5 percent.
7. The Stock Market will again have double-digit gains lead by financials, tech and pharma.
8. The Philadelphia Phillies will find their way back into the playoffs somehow.
9. Republicans gain seats in the house and senate due primarily to Obamacare.
And to look back at prior year predictions ? Outside of sports, we were right on with our predictions on the economy and the stock market: