What Is A Housing Market Trend?
Anyone, who studies, real estate, and understands its history, realizes, the housing market, and the underlying, trends, constantly changes, and/or, evolves. We have witnessed, buyers, sellers, and neutral markets, and, today’s sellers market, may, potentially, change, seemingly, medium-term! With that in mind, this article will attempt to, quickly, consider, examine, survey, and discuss, using the memory aide approach, why this is important, what it means, and why, buyers, sellers, and agents, must be ready, willing, and able, to pay sharp attention, to this.
- Time – sensitive: When a homeowner decides to sell his home, he must carefully interview potential agents, to determine, and understand their philosophies, and approaches, and whether, it accounts for time – sensitive issues, in terms of initial listing value, flexibility, marketing and promotional strategies, and so on. Since times, and circumstances, change, and/or, advance, it is important and essential, to focus, from the start, and pricing it effectively, in request to sell, rapidly, at the best cost, in the shortest timeframe, and, with a minimum of hassle, and stress!
- Regional; responsive; realistic: Beware, of the possibility, there may be some, less than ethical, agents, who attempt to, purchase – the – listing, by proposing an artificially, high, listing cost! Since, in the vast number of cases, the best offers, are given, in the first hardly any weeks, after a house, hits – the – market. this strategy as relocating, will generally, be harmful, to achieving, the best possible offer! Pay less attention to national trends, than regional, local, and specific location, ones, so you continue, wisely, and based on a realistic appraisal, of the best way to continue.
- Monetary factors: Two financial factors, are the most significant, and relevant, with regards to the housing market: (1) Supply and Demand; and (2) Interest Rates. Supply and demand, often, influences, whether, we have a Sellers, or Buyers Market. Interest rates, and their levels/trends, often, determine the corresponding mortgage interest rates. At the point when rates are lower, buyers become increasingly capable, of, buying, more house, for the buck!
- Specialty/nuance: Often, one specialty of the housing market, out – performs others! For example, there are times, when extravagance house, prices, under – performs, compares, to the more abundant, more demanded/affordable center – of – the – range, houses!
- Dive profoundly; discover: Look past the surface, and obvious! Rather, dive profoundly, into, the financial trends, and discover, what it may mean, for the value, into the future, of particular houses.