Houston, TX (PRWEB) October 24, 2013
HomeValue.us.org is updating their database of real estate evaluations for the fourth quarter in response to changing market conditions, the company said yesterday.
“When we first uploaded our home value estimates for the fourth quarter we expected interest rates to rise considerably, which would have lowered the estimated sale value of many properties,” the HomeValue.us.org spokesman said. “But our experts now expect interest rates to remain stable, increasing our estimates for the resale value of many homes in our database.”
HomeValue.us.org's original estimates were made during the government shutdown, when many experts expected rising interest rates to be part of the collateral damage from the political fight, he said.
“While we are happy that interest rates should remain low and we now have every reason to expect home values to rise, it does mean that we have to do a major change to the information in our database,” he said. “It's going to take some time, but is worth it to us if it means that our property reports are as accurate as possible.”
Rising interest rates could have had a depressive effect on the housing market, because they make it more expensive for people to get a mortgage, the HomeValue.us.org spokesman said.
“We hope that the real estate market stays strong and that we see a full recovery,” he said. “This is good news for people who are trying to sell their homes.”
HomeValue.us.org is a public records database that specializes in providing home and property reports to consumers in the United States. Find out information such as the market value, residential foreclosures, neighborhood amenities, previous owners, and more. Visit HomeValue.us.org today to speak with a live representative, call 1-866-605-0312, or email Manager(at)HomeValue(dot)us(dot)org with any questions or concerns.