What Do The Real Estate Market Trends Of The Past Present And Future Tell You?

While staying up with the current real estate market trends might be good enough, looking at the past market trends and future predictions can also put things into perspective. If you know anything about interest rates of past decades, you know they weren’t always low. In fact, the subprime lending rates of the early 2000s were rather similar to what people were able to score years ago at times. In regards to the future, experts point to current trends that show interest rates trickling upwards.

In other words, they expect that to continue. Where will the interest rates be at certain times, and what will be their top out point before they start falling? Maybe they will plateau when interest rates are just above five percent and just dance around that number for years. Wouldn’t that be nice? If you look at how slowly they have risen, it might just happen.

Some most likely experts would give you that forecast, but at the same time, opinions vary as to future real estate trends. It’s safe to say that people look at current trends differently, too. Again, some don’t know or realize just how much of a blessing interest rates below five percent are. That by no means should justify you rushing into the home buying process, but consider your options might not be a bad idea if you think you are ready. One good option for luxury properties is found in https://shannon.com/.

Interest rates aren’t the only metric to look at by far. What about home values? What about real estate sales trends? With so many online resources and more and more people buying and selling homes using less traditional means, you can expect these to be the areas of the market that change the most. That is thanks to changing technology and benefits to consumers. When you get get a mortgage online or using an app, clothing optional as one popular commercial puts it, then you know there are advantages.

Buying it selling a home is much easier these days in other words, and you can expect that trend to continue. It is a trend that is evident in all markets when it comes to buying or selling, a universal global market trend. What else can you expect? What else is important about past trends? What else should we point out about current market trends when it comes to real estate?

For sure, just because it is easier to sell a home these days doesn’t mean you’re going to sell it quickly. There are many helpful resources in place to help you do that, but they can’t control the buyers. Buyers still buy what properties they want, so when it comes to the real estate market, someone must handle the marketing. It is quite good though that buyers are privy to lower interest rates because that benefits everyone.

Are you currently interested in buying, selling or just poking around? Maybe you’re an agent reading this wondering about the future of the market. You are surely versed more than the average consumer already since it’s your job. That doesn’t mean you can tell the future though of course.

Will there be different types of mortgages in the future? If you were to look at house prices 25 years from now, do you think you would consider them astronomical? They hopefully will be higher but appropriate at the same time. America doesn’t need another housing bubble crisis, and it would be nice to see a steady market that stabilizes at some point completely, at least for awhile. It is stabilized right now but in recovery.

10 Things You Should Know When Shopping For A New Home

As a first time home buyer, you might be faced with a very challenging task. If you have not done the necessary research and preparation, you might end up making a lot of common mistakes. Here are the top 10 things no one ever told you about buying a house.

1. Always Think Long-Term
You might be single now, but with time, your family might grow. Also, you older parents might decide to come and live with you. Therefore, you need to look for a house that is big enough to accommodate any plans. Don’t forget to choose a house in a good school district for the best results.

2. Always Prepare A Checklist
Before you go house-hunting, you need to prepare a checklist of the items you must have and what you can compromise. Bring your checklist to every house visit and take a lot of photographs of the potential homes. If you come across a house with a lot of the essentials but missing a few things, you can choose to compromise.

3. Prepare A List Of All The Expenses
When preparing a budget, don’t fail to include other expenses besides the price, insurance, taxes and much more. There are other monthly expenses that should be included in the list, and they include utility bills, mortgage payments, maintenance charges and much more. List down everything you pay every month and make sure the purchase doesn’t overstretch your budget.

4. Take A Good Look At Your Financing
Are you planning on paying for the home purchase out of your savings or are you thinking of getting a loan? Well, whatever you do, you need to consider all your sources of funding accordingly. Preferably, you should always get a preapproval before house-hunting to know the exact amount any financial institution is willing to loan you.

5. Use A Realtor
If you’re a first-time homebuyer, you need to use the services of someone who is experienced in the real estate business, and that’s where a realtor comes in handy. Note that, the realtors work for the seller and as such, you are not required to pay the commission for their services. Therefore, find a good realtor with your interests at heart to help you find a good home.

6. Research About The Location
Certainly, if you’re going to live in the house for a long time, you need to know everything there is about the house. For instance, is it in a good school district? Is there public transportation and other amenities? What’s the crime rate? That way, you can rest assured you’re settling in a good neighborhood.

7. Always Inspect Before Making An Offer
You have no idea what the house has been through with the previous owner. Therefore, you need to conduct an inspection and get the maintenance records of the house. If there has been a mold infestation, you need to know about it to avoid too many expenses once you move into the house.

8. Don’t Be Fooled By The Staging
Staging a house is one tactic seller resort to get many buyers fast. Therefore, look beyond the staging to find out what the house looks like and whether or not you can stay there.

9. Find A Good Mortgage Broker And Lender
If you are planning to apply for a mortgage, you need to look for a good lender and broker to help you navigate the tough decision. Look for a broker with your interests at heart for the best results.

10. Research Is Important
Don’t settle for the first house you come across simply because it was well advertised. Look at many houses as possible and make sure you decide on the best one for you without any rush by the realtor.