December 20, 2013 10:36 am
December 19, 2013 10:36 am
Experts across the country are projecting that buyer demand will remain strong for the foreseeable future.
Frank E. Nothaft, Chief Economist at Freddie Mac recently proclaimed:
“We expect single-family home sales and housing starts to be at the highest level since 2007.”
Due to this demand, taking quality listings will continue to be extremely important to your success throughout 2014. This will create a tremendous opportunity for those agents who can dominate the listing side of the business.
But what will it take to achieve maximum success? Here are 5 things that you'll need to do:
December 18, 2013 10:36 am
Immigration reform is a political hot potato to many. We do not want to take a political stance on the issue. We will leave that to others. However, we do want to report on a recent study
released by the Immigration Task Force
of the Bipartisan Policy Center (BPC)
that spoke to the impact reform would have on the housing market.
The BPC did not claim their study was all encompassing and included the following caveat:
“It is important to note that this analysis is not an endorsement of the Senate bill or any other policy proposal. The study does not examine other aspects of immigration reform including demographic or national security concerns, nor does it look at the cultural benefits that immigrants bring to our communities. Clearly, these issues are important considerations for immigration reform proposals.”
That being said, let’s look at what the study did reveal:
Jump-start the Housing Recovery
December 17, 2013 10:36 am
Though the housing market is in the middle of a strong recovery, the one issue that still remains a challenge is inventory. Demand is currently strong and Frank E. Nothaft, Chief Economist at Freddie Mac
, projects that 2014 will be the best year for home sales since 2007. We must make sure that the supply of homes matches this demand.
The Federal Reserve Bank of San Francisco
(FRBSF) recently published an Economic Letter
with their thoughts on housing inventory and where it may be heading.
Housing Inventory and Rising Prices
The good news is the FRBSF research reveals inventory will increase as prices rise:
“Formal statistical tests indicate that changes in house prices have a causal effect on inventories and the two series are tied together in a long-run relationship. This makes sense. All else equal, rising house prices should make homeowners more willing to sell and inventories should rise.”
December 14, 2013 10:33 am