What should you expect for next year’s housing market? Trulia’s Chief Economist, Jed Kolko, dipped into the data to find out. Check out his predictions for the 5 ways that the 2014 housing market will be different from 2013, as well as the top 10 cities to watch as we enter the new year.
More home buyers use a mobile device, such as a smartphone, as a primary information-gathering tool. More than half of all page views of listings nationwide now occur through a mobile device, as opposed to a desktop computer, according to an analysis by Realtor.com. Of mobile searches, more than twice as many listings are viewed via iPad and iPhone than via Android devices. Searches with iPhones are nearly three times as high as Android searches.
The coming year is expected to be a little kinder to home buyers. While affordability will continue to be a problem in hot markets like New York and San Francisco, buyers in general may find they have more homes to choose from and more lenders vying for their business.
Since the first quarter of 2013, more than 3 million homeowners have regained positive equity, as home prices have shot up, CoreLogic reported.
In the third quarter, 791,000 more residential properties moved into positive equity, the data aggregator said. But CoreLogic reported that there were still 6.4 million homes with underwater mortgages remaining, or 13 percent of all properties with a mortgage. That’s down from 14.7 percent in the second quarter.
Everyone loves a great story. What stories are you telling customers to make yourself more memorable?
Once upon a time, there was a real estate agent named Joe. Joe went to listing presentations prepared. He was armed with lots of data about recent home sales and price trajectories. He’d also make big promises to clients, vowing that if they put their trust in him he’d get their home sold.
So, why would clients pass Joe up?
Joe didn’t have a story. His promises sounded empty. He wasn’t memorable.
Since the housing crisis began in 2008, approximately 4.6 million homes were lost to foreclosure, according to CoreLogic. The vast majority of those homeowners became renters. Even as housing recovered, credit tightened, pushing even more potential buyers out of homeownership and into rentals, both apartments and single-family rental homes.
There are now 43 million renter households, or 35 percent of all U.S. households, the highest rate in over a decade for all age groups, according to Harvard’s Joint Center for Housing Studies; 4 million more renters today than there were in 2007. For those aged 25 to 54, rental rates are the highest since the center began record keeping in the early 1970s.
As a result, rental vacancies have fallen dramatically, and rents have skyrocketed.
Last summer a Realtor got an email from a local real estate attorney who wanted to buy a house. He’d just gotten engaged and wanted to save some money by representing himself.
This attorney wanted to do all the work an agent would do to find and buy his first home, and get paid a commission for his work. She explained to him that the commission is payable to the listing agent who agrees to pay a portion of it to the Realtor representing a buyer.
2 bedrooms; 2 bathrooms; 1277 square feet
Absolutely Beautiful! You will love this unique 1-level home located in a desirable, small, secluded & secure community! Live the good life as the exterior & grounds are maintained by the HOA. Enjoy the cozy gas fireplace, vaulted ceilings, skylights, A/C, private & fully-fenced yard, spacious 5-piece master bath & walk-in closet. Well maintained with all newer furnace, water heater & appliances. Convenient den/office could be a 3rd bedrm. Light & bright kitchen; pull-out shelves in the pantry.
Real estate agents see it all.
From the unmade beds to the overstuffed garages to the “What were they thinking?” decor. Over the years, they learn a thing or two: Why some houses sell, while others linger on the market. Why some promising buyers never make it to the closing table. How to get a better deal on the mortgage. Even just how much the other agents stand to make on your home. And the good news is, they want to share. Whether you’re a buyer, seller or both, here are six things real estate agents wish you already knew.
Managing The Real Estate Details 