The State of the Real Estate Market [PODCAST]

The State of the Real Estate Market

Outline for Video Podcast
(Video will take a few moments to start after you click on it)

The Positive Sides

1) Sales are up nationwide
2) Home prices are up Nationwide
a. You can request me to send out specific graphs on how home prices have increased in your neighborhood as well as average and median sales, and length of time on the market.
3) More buyers in the market
a. Stronger Economy
b. With more job creation and raising wages, more people can buy now.
c. Entry Level Buyers can now begin purchasing more spacious homes as family grows.
4) Mortgage Rates are at historic lows which offsets higher prices.
5) Sellers who have held off putting their homes on the market because of previous low prices can do so now.
6) With more people in the market, average time for house on the market is about 2 months.

The Negative Sides

1) Low housing inventory. Simply put, we need more listings. Supply is not meeting demand.
2) Buyers may have to compete with Multiple Offers causing a “Highest and Best” scenario.
3) One of the positive outcomes of a stronger economy, there are less foreclosed and/or short sale properties on the market. Of course, this is wonderful, but if you are an investor looking to flip properties, not so good.

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