One of the newer forms is the Market Conditions Advisory (MCA). The California Association of Realtors makes new forms, changes old forms, deletes ones that just don't function properly any longer. All based upon the conditions of the market and as laws change.
The MCA really is more of a CYA (Cover Your Ass) form for us Realtors. But, in the roller-coaster housing market we've been in this last few years it was an important one to publish and use for clients buying or selling a home.
In short, layman's language, it says we don't guarantee what the home will be worth in the future. Takes two pages to state it, but that pretty much sums it up.
My views on the current market is that we will continue to see appreciation til the end of this summer, then it will go flat. And, I'm guesstimating that we will then get into more normal appreciation at about 2-3 % per year.
Now, the article I read today was based upon an Industry Expert panel. A group of economists, Real Estate know-it-alls, investment and market strategists. They felt that we would see approximately 22% cumulatively by the end of 2017. Just under 5% for this year and next. Dropping to between 3.5 & 4 % for the few years after that.
So again, the MCA is a CYA,
as realistically we don't know what's going to happen now, do we?
Anyone wanna wager?