Posts in Real Estate Industry News (page 2)

Real Estate Industry News

Now May be the Best Time to Sell

Pending Recession Makes Selling Real Estate Now Very Attractive

A recession is generally viewed in a negative light in terms of the housing market overall. However, there might be a silver lining when it comes to real estate selling, especially for those who want to sell sooner rather than later. Could a possible recession in 2020 mean that homeowners should be eager to sell this year?

Upcoming Recession?

A recent Zillow report shows that real estate professionals, as well as economists, are expecting a recession to hit the economy at some point this year. While the effects of this recession aren’t predicted to be as dire as the one that hit the housing market in 2008, buyers and sellers should both stay alert.

Effects of Recessions on Sellers and Buyers

A recession that starts happening early in the year could motivate sellers to put their home on the market in the near future instead of waiting. Higher interest rates that could occur with a recession might mean having fewer buyers around at that time. This can make it harder for sellers to sell their home at an ideal price, and it could take longer to find the right buyer. Listing a home now or in the near future might be a better option for those who want or need to sell quickly or those looking to get as much as they can for their home.

Those who are thinking of selling a home this year might want to consider listingearlier rather than later in case interest rates do rise considerably. In the meantime, those who are looking into buying a home should keep a potential recession and increasing interest rates in mind when deciding when to purchase this year.

If you’re looking for real estate selling tools that can help you gain more leads, contact Properties Online today.

Tips for Selling Your Residential Listings Even in December

Tips for Selling Your Residential Listings Even in December

Do your New Year’s resolutions include moving but you’re afraid holidays and cold weather will keep buyers away? Don’t be discouraged by conventional wisdom about selling your home in December. Beat the winter freeze with these helpful winter real estate selling tips.

Keep Decorating Neutral and Tasteful

Not everyone celebrates the holidays in the same way. What seems bright and festive to you may feel tacky and overdone to others. Don’t run the risk of offending potential buyers. Stick to a general winter season decorating theme that lets buyers picture themselves building holiday memories in your home.

Don’t Forget Curb Appeal

The weather outside is frightful, but don’t use it as an excuse to slack off on exterior maintenance. In addition to being unsightly, snow- and ice-covered stairs and sidewalks are a safety hazard. Make sure all walkways are clear, touch up paint as needed and clean the gutters. With shorter days limiting the amount of natural light, consider adding exterior lighting.

Leverage Online Marketing

During winter months, buyers spend less time exploring neighborhoods in person and more time taking online tours. High-quality photos and videos highlight the best features of your home and inspire viewers to take the time for a visit. It’s well worth the investment to hire a professional photographer.

Target Motivated Buyers

Summer weather may be more conducive to the process of moving, but there are a number of financial reasons why people look for homes in the winter. New jobs often start at the first of the year, or people receive year-end bonuses that they put toward buying a new home.

Our real estate selling tools help you grow your business any time of the year. Contact Properties Online to learn how our web-based software helps build traffic and capture leads.

Fall 2019 May Be a Better Time for Listings and Sale Than the Projections for 2020

Fall 2019 May Be a Better Time for Listings and Sale Than the Projections for 2020

2019 is not expected to continue the trend of high-flying home prices and rapid sales. Despite this, real estate selling experts indicate that 2019 is the best time to list a home. What gives? The remaining months are predicted to be a better market than 2020-21. For those on the fence weighing the option to sell, it could be unwise to play the waiting game.

Why is 2019 Expected to Be Better for Real Estate Selling?

• New buyers are still venturing into the market.

The affordability factor has weighed down the market. There will be no flood of buyers this year – more like a steady trickle. This will slow home price increases and extend listing times. Although housing inventory remains low, particularly in the starter-home market, high-traffic shopping will continue.

The largest segment of buyers is expected to be Millennials. In a recent Trulia poll, one-fifth of Millennials anticipate purchasing a home in 2019. 

• Interest Rates Remain Low

2019 has not seen the multiple rate hikes anticipated. More recently, lowered interest rates have brought the 30-year fixed rate down to around 3.58%. Even if a raise were to occur, rates will probably remain near their historical lows. With no sudden leaps anticipated, now is a great time for buyers to lock-in low rates.

• Equity Cash-In

For sellers holding a home they purchased during or shortly after the recession, there’s a lot of equity at stake. The more equity in the home, the higher the net from the sale that can be used toward a down payment on another house. The greater the down payment, the lower the interest rate, reducing monthly payments and the need for PMI.

Don’t miss out on prime sales opportunities. Ensure maximum return-on-investment with real estate selling tips and tools from Properties Online today.

Expected the Unexpected in 2020

September May be a Difficult Month for Real Estate Sales

For those planning to put a home on the market, sooner is better for the 2019-2020 selling season. Changing real estate trends point to sales slowing down. What has the market putting on the brakes?

Factors Playing into Slowing September Home Sales

– Current Real Estate Trends

Current patterns suggest an upswing in sales or pricing is unlikely in the near future. Though cities differ, prices in metro areas are roughly 45% more than they were pre-bubble in 2006-07.

However, home inventory is creeping up, putting pressure on pricing. This correlates with rent. As rents soften, buyers look to similar discounts when buying a home. This typically trickles-down from the most expensive markets. Those with a large supply of condos will be especially hard hit.

– Economist & Expert Opinion

Economists and real estate experts polled by Zillow in May expect a recession, though they differ on timing. Twenty-four-percent expect one in 2019; nearly half in 2020; with 14% expecting the recession to hold off until 2021.

– Stock Market Fallout

Slowing global growth, trade wars, and their effect on the stock market and bond yield growth are making buyers everywhere more cautious about investing in a home.

– Uncertain Mortgage Rates

Last year, the Fed indicated price hikes on the horizon. However, this year, due to trade tensions and a softening economy, the tables have turned. People already feel the high price of housing, and with an uncertain economy, are pulling back. 

– Tax Reform Consequences

Buyers are taking note of property tax and mortgage interest deductions that have dried up, putting the brakes on new purchases until they see how their 2019 tax returns are affected.

Changing real estate trends have you worried? Stay on top of market shifts with the help of Properties Online today.

What to Know About the Luxury Real Estate Market in These Uncertain Times

What to Know About the Luxury Real Estate Market in These Uncertain Times

At the beginning of the year, all eyes were on the housing market as it began to show signs of slowing. With a sharp rise in inventory and multiple interest rate hikes on the horizon, the future of real estate sales was uncertain. Instead, interest rates have lowered and the market appears to have entered a transitional period, where affordability challenges have pulled back price growth, particularly in the luxury real estate market.

What’s Driving Changes in the Luxury Real Estate Selling Market?

1. Market Correction
Nationally, the market is shifting in favor of buyers. Transactions over $10-million are finally on the rise. Homes unrealistically overpriced over the past 2-years have come down, particularly in regions that experienced double-digit price growth. This has created an intersection where the seller and buyer can compromise on price, boosting the buyer’s market morale.

2. Tax Law Changes

Tax law changes are hurting luxury homes at the top-end of the market. Mortgage interest and property taxes are no longer fully deductible, increasing the burden on homeowners. The luxury market has understandably taken the biggest hit, with homes priced at $2-million or more witnessing a sales slump for the first time in nearly 3 years, falling 1.6%. 

3. Disappearing Foreign Funds

Markets such as NYC, once dominated by foreign money, are no longer seeing the competition of international buyers. As politics and the trade war have intensified, buyers are now more typically American. Russian buyers have disappeared, and the days of predominantly Chinese buyers are over.

4. Higher Construction Costs

The inflated prices of land, building materials, labor, and burdensome permitting regulations are pushing builders to the luxury end, softening the market.

Weather these changes with flair. Stay on top of the latest market trends with the help of these and other real estate selling tips from Properties Online today.