January 15, 2014 11:15 am
January 14, 2014 11:12 am
Many pundits are warning that there will be a drop in real estate values because mortgage rates are beginning to increase. The logic makes sense. However, history shows that increasing rates have not negatively impacted home values in the past.
Four times over the last 30 years mortgage interest rates have dramatically increased. Here is the impact the increases had on home values at the time:
January 13, 2014 11:12 am
The price of any item (including residential real estate) is determined by ‘supply and demand’. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.
According to the National Association of Realtors
(NAR), the supply of homes for sale dramatically increases
every spring. Putting your home on the market now instead of waiting for the increased competition of the spring might make a lot of sense.
January 11, 2014 11:06 am
January 10, 2014 11:03 am
There is no doubt that the consumer’s desire to access housing information through the internet will continue to increase throughout 2014. However, that doesn’t mean the value of the real estate agent has diminished. Inman News
recently cited a NAR survey when they reported
“Use of the Internet among consumers in the home buying process continues to grow, but those buyers are more, not less, likely to use a real estate agent.”
To continue to remain relevant, real estate professionals must keep pace with the changes in how the consumer is viewing pertinent housing information.