Posts Tagged as 2016 Real Estate

Zillow Surpasses "Real Estate" on Google Searches

Did Your Buyers “Zillow It”? Zillow Becomes the Google for Real Estate

Following in the steps of gargantuan goliath Google, Zillow is rising to the top of real estate trends for 2016. With a staggering 63% market share of the online and mobile real estate audience, the search for “Zillow” now surpasses the term “real estate” in Google searches.

Redefining its identity
Fresh out of a $130 million settlement with Move.com, Zillow is resolving its legal troubles, its past divisive reputation being smoothed over by management moves. With Amy Bohutinsky at the helm as COO and Kathleen Philips as CFO, the previous “boys club” has been broken up with new faces stepping forward to shine. Errol Samuelson, dubbed “the Buddha of real estate” and Zillow’s chief of industry relations, is smoothing the way.

Sleeper cell
Now quietly rising to the top of real estate trends for 2016, Zillow appears to be driven by a desire to become a top producing hybrid brokerage, though it is flying under the radar, quietly reducing its advertiser count and shifting its focus to quality agents. With the company’s 90,000 advertisers, however, there’s not much difference between it and a franchise or a brokerage – save semantics.

What’s in a word?
Charging brokers an “advertising” fee versus the typical franchise fee, Zillow is in the process of building up a gigantic team of independent brokers alongside teams of agents who silently represent Zillow, paying the company monthly fees that are higher than those of the typical franchise. This effectively cuts out low-spending agents who often wash out in favor of higher spending agents who are far better for Zillow’s long-term profitability and reduced selling costs. Many are left to wonder what’s on the horizon for this real estate marketing monolith.

What’s next for your real estate career? Chart your path with the latest real estate trends for 2016 and the award-winning services of Properties Online today.

Are You Seeing these Predicted Trends in Your 2016 Business Now?

With the best housing year since 2007 behind us, real estate trends point to 2016 as an even better year, with economic growth and employment continuing their climb, offering people increased opportunities to upgrade their homes or buy their first one.

What real estate trends will have the biggest impact on the housing market in 2016?

1. Normalcy.
Yep. That word we haven’t used to refer to the housing market in quite some time. Healthy growth will continue, but at a slower, more balanced pace than 2015.

2. Generational shuffles.
The rising wages of Gen Xers will allow them to step-up, while older Boomers seek to retire and downsize, providing much of the inventory Millennials will be on the lookout for. Representing one-third of the market in 2015, they are expected to dominate again this year.

3. More affordable new homes.
New construction will be trending toward more affordable, single family homes in 2016 (over the limited luxury market) as credit access improves.

4. Higher mortgage rates.
Rising rates will present a mixed-bag, with some mortgage volatility expected again in 2016. Thirty-year fixed-rates are predicted to end the year about 60 basis points higher than today. The increase will be manageable for most consumers – barring those in higher-priced markets, which are expected to slow. Mostly, however, the effect of rising rates will be minimal as buyers rush to take advantage of rates before they climb.

5. Rents outpacing home prices.
As renters continue to be crushed by rental rates exceeding 30% of income in more than 85% of rental markets, home prices are moderating. This is making homes more affordable to buy for those with a stable income, able to save a down payment, and with clean credit.

What’s does the future hold for you? With knowledge of up-and-coming real estate trends from Properties Online, you can come out ahead. Take advantage today!

Foreclosures Plummet in 2015 Boosting Prices in 2016

Lack of Foreclosures Boost Real Estate
Lack of Foreclosures Boost Real Estate

It’s official. The numbers are in and 2016 real estate trends are pointing to an upswing in the housing market. Finally arriving at pre-crisis levels, a recently released CoreLogic report shows foreclosure levels have plummeted to nearly 27%, the lowest levels since the year the housing crisis began, from 603,028 in 2014 to 476,000 in 2015.

Finally through the worst
What’s to thank for the housing market recovery? Banks tightening lending criteria, increased housing prices, and a stronger economy, leading to more homeowners with steady jobs, which reduces the top two reasons banks repossess: Lost jobs and reduced income levels.

Double-edged recovery
Though the market is up, however, experts point to a classic double-edged recovery. The same factors helping fight the housing crisis and boosting the rebound are also hindering many would-be buyers from securing financing, especially in the states hardest hit, according to real estate trends.

The hardest hit states?
The five states below account for half of national foreclosures…

  • Florida: 79,109 completed foreclosures; the most in the nation.
  • Michigan: 48,865
  • Texas: 29,815
  • Ohio: 24,456
  • Georgia: 24,239

Potholes ahead?
Though lessening, working and middle class buyers are still experiencing financing obstacles. Some do not have the 10% down payments required to qualify for loans. Others have poor credit, recovering from brushes with the foreclosure crisis themselves. Younger generation buyers have no credit. And in some markets, especially those in low to moderate income areas where a great deal of foreclosures occurred during the crisis, banks are reticent to lend.

On the upswing
Though these issues will as yet continue to work themselves out, mortgage delinquency rates are still expected to decline in 2016, with the rebounding of the national economy, along with housing prices, on the horizon.

Are you up on the latest real estate trends? Properties Online can help you stay ahead of the game. Learn more today.

The Positive Outlook for Real Estate in 2016

Fluctuating Mortgage Rates
Fluctuating Mortgage Rates

Tired of consulting your Magic 8 Ball in order to determine possible new real estate trends you might better direct your marketing resources towards?

We’ve got the latest predictions from experts like CoreLogic, Realtor, and Trulia. Here’s what these oracles are revealing about the upcoming year…

  • Will the market return to normal?
    The outlook is good. Following the past decade of unstable conditions and abnormal trends, the 2016 housing market is expected to be normal, growing with the economy.
  • Will interest rates remain flat?
    Don’t count on it. December’s small 0.25% increase following a decade of stagnancy foretells of likely increases to come. This signals a stronger economy and a greater likelihood of banks opening doors to borrowers.
  • Will the kids finally move out?
    Signs point to yes. Surveys show Millennials are only held back by their ability to purchase, not desire, and the upward trend in Millennial purchases is expected to continue.
  • Will Mom and Dad retire?
    Without a doubt. Baby boomers will play a dual role in 2016 real estate trends, motivated to sell due to increased demand and higher prices, then quickly downsize to lock-in interest rates before they rise.
  • Will home prices rise?
    Yes. Increased lending options and demand will drive prices higher – faster than inflation – at a predicted 4-5% rise.
  • Will builders pick up their tools again?
    Most likely. With more buyers in the market, an increase in new home construction is foreseen, particularly in the market of affordable new homes for young buyers.
  • Will rental costs rise?
    You may rely on it. Real estate trends continue to contribute to skyrocketing rental rates, leading potential buyers with enough credit to reconsider investing in affordable homes.

Tired of seeing bad portents everywhere you look? Properties Online only has all the latest news and tools to help you divine a better future. Contact us today.

“Sexy” Sells in Luxury Real Estate Marketing Verbiage

What Sells Luxury Real Estate
What Sells Luxury Real Estate

It’s no secret that sex sells. And sexy verbiage? It’s making the luxury real estate market hot.

What words are steaming up the proverbial windows in the luxury market?
According to real estate selling tips following a study by Realtor.com, the words “sexy” and “seductive” are often used in higher priced homes.

What about love?
Well, as the old rock song goes, “love” stinks. Of the 1.6 million homes in the Realtor.com study, “love” is often used in the property descriptions of lower priced homes.

Hot – and not – verbiage and median asking prices:

  • “Lovely” – $264,000
  • “Love” – $250,000
  • “Loving” – $195,000
  • “Sexy” – $620,000
  • “Seductive” – $640,000
  • “Romance” – $820,000

Does this mean you should strategically engineer your next listing?
Are you picturing it now? “Sexy 3 bedroom on corner lot. Add a little romance with a single bath…” Think again. It takes more than carefully placed words to sell a home.

Is love dead?
In most cases, when the terms “love” and “loving” are used, a home that is well-past the need for an update is being described. Exclude search results with these correlations, and the story will likely change.

Move past the word “love”
Using the word “love” in property descriptions sounds canned and basic. (How many times have you used some variation of the phrase: “You’ll absolutely love…”) If you want to keep listings – especially text-only listings – from being glossed over, you may want to try your hand at being a little more creative and expressive, as agents listing luxury homes typically do.

Seduce potential buyers
Instead of same old stale verbiage, get your “sexy” back, thinking more in terms of “luscious” views, “seductive” spaces, and “romantic” settings. Remember, it’s your listing, and you set the stage.

Feeling unloved? Put the spark back in your business with the help of real estate selling tips fromPropertiesOnlinetoday.

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