Leveraging the market to your advantage is a primary skill that takes practice to master. To understand what you should be keeping an eye on there are a few bits of information that you should be aware of. To begin understanding how to use data for your estate you should first have an idea of what kind of information you should keep an eye out for.
Elements such as, keeping up with the housing market’s fluctuation, job growth, interests’ rates, and housing prices are all fundamental information regardless of your goals. The bottom line is, that if you are looking to leverage the market, there is a vital piece of information you should be keeping up with. In the passage below, we will go over in more depth which topics and trends you should be up to date on so that you make the best real estate decisions that are best for you.
The “Surban” Trend
A new trend that has recently popped its head up is the “Surban” real estate trend. Surban is a nickname for areas that can be considered a mix of urban and suburban. Surban’s have received so much attention in the market because they have been drawing in such much success over the past couple of years. Areas like Downtown Naperville, Illinois; Old Town Pasadena, California; Legacy Town Center in Plano, Texas; Satana Row in San Jose; and Downtown Tempe, Arizona have all incredible success in their surban developments. A whopping 80% of people are predicted to be drawn by surban developments within the next ten years, so investing the time on keeping up to date on surban areas close to you can be well worth your while.
A New Generation for Buyers
This new generation provides new opportunities. Millennials have quickly become a dominating factor in the real estate market, and as time moves forward, their influence only continues to grow. Having been born between 1983 and 2001 millennials are currently the fastest growing workforce and judging by the numbers this is unlikely to change anytime soon. Now, an overwhelming mass of buyers is millennials. If you are asking yourself how this information helps you, the answer is simple. If you are a buyer, you are more likely to maintain leverage in the market. It is advantageous for you to have demographical information in any market. The real estate market is no different.
Predictions of the market have been positive, and there seem to be no chance of the markets crashing through 2020. The interest rates are predicted to remain low with only a slight slowly growing increase during the next 30 years. Knowing the trends of the ever-changing interest rates can be very advantageous when leveraging the real estate market. It should be stated however that these two factors cause the future upcoming increases in mortgage rates. One, a growing economy fuels growth in mortgage rates and inflationary pressure causes the FED to increase prices.
Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-908-7293 or visit https://josephlewkowicz.com/