There are a lot of issues that affect the real estate world every year and this year is no different.
I was reading a report and the new home builds that are needed are down 5-6 million homes. What does this actually mean for the housing market? It means that inventory will be an issue for some time to come.
It is supply and demand that creates pressure on the housing market.
The other issue is interest rates; they affect everything when it comes to potential home buyers. Let's face it most home buyers are looking at the monthly payment to see how much they can afford to pay for a home. As the interest rates go up the buyer pool goes down with rising home prices.
That is a double whammy for the housing market and means that there will be pressure on housing prices to rise in most areas. It is a seller's dream market to sell their assets and make their money in this market.
I just finished all the contingencies on a property today and it was a long process between the buyer and seller. The seller did not want to pay all the money for the repairs and the buyer really wanted this rare property. Basically the seller won out and they split the repair cost. In a regular market the seller would have to pay for those repairs and then some.
These are just some of the issues facing the real estate market today. The key is having a Realtor that understands the issues and knows how to navigate every property that needs Sold or Purchased.
If you are an Investor I have a special listing package that sells their assets and saves them a ton in commissions. Remember I have used this listing system to get top prices for homes since 2000. Literally 100's and 100's of homes
Call me (Brett) 216-703-5740 Fathom Realty or
Text "Discount" 214-949-4147 +12149494147
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Thank you