Just recently, we were discussing the beginnings of a change in the housing market. Here are some predictions for what lies ahead in the real estate market that may affect both home buyers and home sellers.
Price appreciation will slow: The local market has seen tremendous price appreciation in the last two years. We anticipate that price appreciation will moderate slightly this year. After the big price boost in the spring, premium pricing may lower this summer. However, the year 2022 will end with positive price appreciation overall.
Luxury market stability: The luxury market has taken off over the last two years and will continue to be a strong segment of the local market due to solid job growth, the wealth effect and historically low interest rates.
Inflation will have an effect: It’s also important to keep an eye on rising energy costs as well as supply chain and staffing issues, all of which could affect the housing industry this year.
Buyers’ debt to income ratios will be adjusted down: It’s common today for buyers to have debt to income ratios around 44% approved by lenders. With increasing prices on everything from milk to gas, to staple grocery items lenders will want to safeguard their investments and may lower this threshold to 40-42% (And that adjustment can mean a lot to your buyers)
Fewer bidding wars: As buyers are dealing with the combination on increasing rates, inflation and general uncertainty many are going to be more cautious about overpaying or perceiving that they are overpaying for a home.
Inventory and days on market will increase: “Inventory and mortgage rates will determine how far and how fast home prices will rise this year and beyond,” said Zillow senior economist Jeff Tucker. “We are seeing new listings returning to the market, slowly, as we enter the hottest selling season of the year, but this supply deficit is going to take a long time to fill.”
Inflation considerations: Inflation has already begun eroding the bottom lines of American households, with the Bureau of Labor Statistics noting rising costs for energy, housing and food as prime factors driving it to a four-decade high.
What should a home seller think about when they plan to sell?
With potential change in the air what should a home seller think about? Consider great marketing and get your home sold for top dollar.
PRIME Marketing is our exclusive, full-service marketing system that is designed to sell your property in any real estate market for just a 1% listing fee*.
We use the latest technologies to create a worldwide marketing campaign for your property. Then we follow it up with strong negotiating as well as taking care of the details all the way to closing day.
Property Website
We create a custom website designed just for your property. It looks great on every device and is the foundation of marketing your home. It's loaded with beautiful photography, all of the details, as well as maps, school, and neighborhood information. Buyers can even schedule tours right from the site.
Website Features:
Up to 100 high resolution photos
Displays 3D and other virtual tours
School info
Local amenities info
Demographic info
Mapping and directions
Birds eye and satellite views
Schedule a home tour
Beautiful Photography
First impressions matter, and photos are the first things a buyer sees. That makes great photography a must in any market. To showcase your home, we feature large photos that are sharp, bright, and look great anywhere a buyer sees them. Contact me today!
3D Walkthrough Showcase
Just imagine being able to immerse yourself in a home without actually being there. This is the 3D experience using Matterport's innovative technology. In real estate, images are a crucial selling point. They can make or break a home’s perception to potential buyers. A 3D Walkthrough Showcase enhances the marketability of a listing by providing a great experience that static photography cannot match. It provides an engaging way of showing every room from multiple perspectives in a crisp, detailed and realistic manner.
A 3D Walkthrough Showcase immerses buyers and lets them move through the property as if they were really there. It's the ultimate Always Open House. It's so much more than a gallery or spinning photos. Crisp 3D imagery creates an amazing experience for buyers to view your property online.
The 3D experience provides an engaging way of showing every room from multiple perspectives in a crisp, detailed, realistic manner.
It also gives precise dimensions of features in each room. As a result, buyers engage with the space around them as they virtually walk through the home.
This can really be beneficial for anyone coming from out of state or international. This allows them to view your home as if they are right there. This and for anyone who is still not comfortable entering a home with the pandemic still in effect.
Worldwide Internet Marketing (Syndication)
In addition to the local MLS, your property will appear on hundreds of the leading real estate websites and portals around the world. No matter the country or continent, if a buyer is looking for a home online, they can find your property. Every week we show how many buyers from around the world visited your property website.
Key areas around the world
The National Association of Realtors reports that 97% of all home buyers first view the home they purchase online. The Cascade Team represents the most comprehensive online presence in the Real Estate industry!
In addition to the local MLS, your property will appear on hundreds of the leading real estate websites and portals around the world.
We offer full international listing syndication to over 400 websites, 55 countries and 21 different languages.
Other things include, social media campaign, weekly performance report - real-time advertising feedback, permanent smart flyer, open house etc.
With The Cascade Team, you get simply outrageous service! not outrageous commissions!
* 1% Listing fee + Buyer agent commission.
For more information, contact Liza Alley by using the form below.
Related Link: Are we seeing the beginnings of a change in the housing market?
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