It’s hard to believe 2015 is already at a close. But it’s happening, and everyone’s getting ready for the new year and preparing their resolutions. In the real-estate industry, we’re excited for the trends that are predicted to take place in the coming year. This is a business that’s used to big and rapid changes, so we’re looking forward to what the new year has in store for us.
As we enter the new year, there are plenty of agents out there who want to help you with any real estate to-dos you may have.
“2016 looks to be a very lucrative year for real estate,” said Frank DiCocco, manager of Better Homes and Gardens Rand Realty’s office in Closter/Alpine, New Jersey. “There is plenty of business out there for our agents. Agents need to hone their skills, and put themselves out there. The years of sellers and buyers falling in our lap are over. It’s the presence, so let’s make one!”
There is also going to be a potential increase in affordable single-family housing. Before 2016, builders were working more on higher-priced homes, which didn’t meet the financial criteria of entry-level buyers. However, with a decrease in new-home prices and improving credit access, builders will be focusing more on constructing homes that are more affordable for new homebuyers. If you have a family, this news couldn’t be better, so if you’re looking for a new home in 2016, keep searching for low home prices throughout the year to see if any fit your financial requirements.
One source’s prediction says home prices may start to decrease, which will influence potential buyers to revisit the market and see if there are any properties they will be able to afford. A lowered price is the best thing a buyer could be given, so 2016 is a year where you’ll want to take advantage of the lowered prices and search for your dream home. With this, you must keep an eye on the market, and also consult with your agent about their views on the industry. Once you have a better idea of the market’s current state, it will be time to dive in.
Although some people believe home prices will lower in 2016, Better Homes and Gardens Rand Realty’s third-quarter market report details that home prices will rise in the new year, therefore creating a seller’s market. Because of these increased prices, this will cause more home sellers to list their properties. Home sellers will want to receive as much money as possible from their property, so they will be eager to place their homes on the market.
The real estate industry is more technological than it has ever been before. With smartphones, tablets, computers, and social media, we are given countless options when it comes to exploring potential real-estate investments. It has become difficult to think how we would have managed this in the past without the availability of these digital-age tools. However, despite the tremendous help modern technology provides for those searching for real estate, you can’t forget it’s the human touch that has been in the real-estate industry since the beginning. After all, you’ll be dealing with an agent the entire time, so it’s important to establish a friendly connection with them as you traverse through the ever-changing real estate market. Having someone to speak with who can provide firsthand knowledge of the real estate market is a wonderful service when buying or selling, so you should value the human factor as much as the technological one.
Parking has been an important factor for real-estate clients for decades. After all, who wants to buy a house without a proper place to park their car? However, it may be surprising to know parking will be seen as less of a concern among homebuyers in the new year. Lately, it has appeared an increasing number of buyers are forgoing cars and are instead using public transportation, cycling, and ride-sharing apps, such as Über. This is especially understandable for those looking to live in the city, seeing as parking normally costs extra and is rather difficult to find.
We will also see a greater solidification of generational buying trends. It has been evident lately that millennials make up a significant portion of current homebuyers, and that doesn’t show any sign of stopping. Nearly two million sales in 2015 involved millennial consumers, which equals about one-third of homebuyers. Despite the attention millennials are receiving in regard to the housing market, it should be noted there are two other demographics that will make an impact in the 2016 housing market: Generation Xers recovering from the financial crisis, and retiring baby-boomers who are looking to downsize. With these three very different generations looking for homes in the new year, we will see a surge in both the buying and selling markets, which will surely make for an interesting and lucrative year in the real estate industry.
A new year includes new beginnings, so whether you’re planning on buying or selling a home, these are a few trends you’ll want to keep track of. The start of a new year is a perfect time to be optimistic, so let that optimism carry you throughout the year as you work to accomplish any real estate goals you may have. With that being said, I wish you all a wonderful and prosperous 2016!
Selling a house is one of the biggest undertakings you can face in your life, which is something I’ve been saying a lot, lately. But, it’s one of those things you really need to realize when you’re about to list your home. As you’re getting ready to do so, you also have to think about contacting an agent. An agent will be a tremendous help during the selling process, so here are some reasons why you should hire a real estate professional.
When you hire an agent, you won’t need to worry about having your time consumed by the responsibility of being available when a potential buyer wishes to see your house. With an agent, you’ll have a lot of assistance because they will be showing the house for you. Besides personal showings, agents will be able to host open houses where buyers and other agents are invited to tour your house. This way, you’ll be able to get multiple potential buyers in your house at one time and obtain a better idea of how much interest your house is generating throughout the community.
When you have an agent on your team, they will be able to gather feedback from the potential buyers about your home. Normally, the buyers will provide their opinions to their agent, who will relay that information to your agent, who will then bring that information to you. This way, any awkwardness is left on the sidelines, and you will be able to receive honest opinions from the buyers because they won’t have the pressure of having to give their feedback directly to you.
Marketing your home properly is extremely important. By having an agent on your team, they will be able to attract attention to your house through their list of contacts and marketing capabilities. As with any line of business, contacts are everything, so if you want to have the best chance at selling your house, hiring an agent with many contacts will give you a shot at meeting the results you’re looking for, and in a timely manner as well. With the technology we have today, the ability to reach hundreds of people is at our fingertips, and an agent will use that digital advantage to notify consumers that your house is on the market and waiting for an offer. Given how most people today use the Internet as their main tool for researching real estate, it’s a no-brainer your agent will work to attract buyers through computers, mobile phones, tablets, and other devices. With online tools, such as MLS websites and social media, your agent is likely to find a wealth of interested buyers. But, although we’re living in a world that’s becoming increasing electronic, additional marketing tools, such as flyers, brochures, and newspaper advertisements still hold power in the real estate industry.
Determining your house’s selling price should be left up to an experienced professional. You will most likely harbor great memories of your house and price it to what you believe the value is based on your emotional attachment. The seller’s agent will come with comps of similar houses in your area, which will show the length of time these homes have been on the market, how much they are listed for, and how much they sold for. All of this will help when determining a realistic market price. Additionally, when you have an agent working with you, they will be able to add positivity to any negative feedback potential buyers may have about the property, and will possibly help with a resolve on a situation.
Real estate agents are professionals, so they know what they’re doing and won’t steer you wrong. They are at your service and will assist you however they can. When selling something as significant as a house, placing it in the care of a real estate professional is the first step to a successful process. If you want to have the best experience you can when selling your house, do yourself a huge favor and hire an agent.