“Normal” Is Apparently Coming Back in Today’s Real Estate Market

What does a normal real estate trend look like? What does normal even mean these days?

Normal is the average, typical state or condition, the usual the expected. Hate to point out the tension in the room but…. Just a guess but if something feels one way for 15 years, that becomes the ‘new’ normal, but in systems with years of being – their typical state or condition has a much greater scope than even our lives, like the earth, like the economy.

For 15 Years The Real Estate Market Has Experienced Truly Abnormal Trends

In an article in Market Watch by Daniel Goldstein, personal finance reporter, there is some ho-hum news.

  • Home prices are predicted to rise by 3% nationally in 2016, compared to the 6% nationally in 2015.
  • Rent prices are expected to rise in 2015. Which will encourage people to buy, although it’s hard to save for a down payment if your rent just went up.
  • 1% increase Mortgage interest rates – expected to be 4.88% compared to the 3.86% at the end of 2015.
  • 15% of mortgages are underwater, that’s 7.9 million people, which is better than the 31% in 2012.
  • As more people stay in their homes more money is expected to be spent on home improvements this year.
  • New types of mortgage products. Maybe some that do not require as much down payment, or a steady, track-able income. Self employment has been a barrier to getting a home mortgage. Another change to restrictions would be to count boarders or renters for multi-generational home, or houses with roommates.

Ho-hum is what a normal market or a real state market or a sock market does. Inflation slowly raises prices and other things, like home investment, becomes less appealing and the market will correct its course with proper stabilization from the Federal Reserve System, banks themselves, wages employers pay, etc….real estate market

The economy is like an organism. It lives and changes, grows and reinvents itself with the demands of growing, earning and living people. The earth itself is an organism that shifts dirt and water over its surface and burns from the inside, and the layers of atmosphere that coordinate to the organisms living needs, as well as affecting consequences of organisms actions against the well-being of the earth.

The economy is going to live and we are limping a little and tired from hustling after that last housing bust. And we are thinking about what our desires do to the market and what that can do the earth. Millennials are getting ready to buy because the Eco-friendly, minimalist yet materialistic homes are working up from the dream – to the manufacturing phase.

The switch to more normal conditions is simple. There has been a shift from containing the risk to growing the market. Perhaps a shift to optimism, versus pessimism? It couldn’t hurt.

Click here to find some optimism – towards your more normal 2016…

4 Alarming Statistics About Millennials and Parent Support for Their Finances

Millennials are a difficult topic to talk about. Baby Boomers seem to hate them, others seem to love them, and the small generation in between just seems to be confused by them. I mean, you can’t please everybody, right? They are seen to be this new generation of kids who are independent, free-spirited, and have passion for everything. But did […]

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Generation X: Your Very Own Real Estate Mutant

In homage of the new X-Men movie coming out, this is a must to go into detail on one of the most interesting demographics in the real estate market: Generation X (also known as Gen-X, or a Gen-Xer, or a Gen-exer).

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Yeah, they’re cool. Gotta love the Gen-X crowd. But when it comes to real estate, there’s so much more to them than just fashion, fun and a pair of goggles. Check this out:

Four Things You Need to Keep in Mind When It Comes to Generation X

Of Course, Don’t Take It From Us: Take It From Quicksilver

Or Wolverine. Or Professor X. Time flies faster than Storm, and the real estate market’s no different. Stay abreast of the trends here, especially if you’re a gen-exer. You don’t want to get left behind when the Apocalypse hits.

NOW GET TO IT AND REGISTER TO BUY THAT HOME RIGHT NOW.

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Millennials: the Next Rage in Home Buying. What Kind of Homes, Though?

It’s hard to believe, but it’s true: millennials in our real estate demographic for home buying have already been putting their stamp in the market share, which is a good thing for the industry. We’re not going to see a real estate explosion quite yet, though, given the record low numbers of mortgage applications among millennials (and a consistent high growth for home renting) due to lack of job growth, student loan debt, and a later timeline for marriage and new families.

But It’s Coming. Some Say the Millennial Generation’s Already Here for Real Estate Home Buying

What you need to know, though, is what exactly they’ll be looking for in terms of a home…. Keep that in mind. Because of the inventory of available houses aren’t there; those millennials aching for a home to buy, well, won’t buy – which is bad for real estate business.

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Here’s what millennials will want in a home (and you certainly won’t need any Gray’s Sports Almanac to figure this one out):

This is getting heavy, Doc….

We’ve Got You, However, on This Real Estate Market

Preparation. That’s what it’s all about. Whether it’s home staging or a real estate agent who can access all the available homes, RTO or not, with all the correct features millennials are going to want. Because when they buy, people sell. Home improvements, renovations, maybe even new construction – the new millennial generation may drive this focus in.

So let’s align with it. And make the real estate market ready for the future (and flying DeLoreans). Sign up for more information with the HOPE Program today!