It’s more of a buyer’s market in 2016 than it has been in a long time. The housing market is bouncing back in a very real way in 2016, which will make all the difference for the people who are trying to buy a house now finally. Millennials who have been putting off home ownership might still have a hard time when it comes to purchasing a home, but this is due in large part to their difficult finances. Buyers have the advantage in real estate today, and they should use it.
Younger Buyers Are Becoming More Active
Lots of Millennials might still be struggling financially, but they understand the value of an investment. Few investments are as safe as real estate, and renting property often involves throwing money down a hole. Millennials, with their high college debt and the difficulties that they’ve experienced with finding jobs, understand the value of solid investments even more than a good portion of younger members from previous generations. It should be noted that Millennials often don’t intend to stay in their houses for as long as members of previous generations once did, which might manage to improve the housing market as more young buyers purchase and then sell their homes. Overall, the Millennial generation is happy to invest.
A combination of lower oil prices and problems abroad are going to keep housing interest rates much lower than many people might anticipate, given the fact that the real estate market is on the rise. However, the low-interest rates are ultimately going to help the housing market, since the low-interest rates are going to attract more buyers. Younger buyers, in particular, are being drawn in by the low-interest rates in the housing market at present.
Social Media Leads
Real estate agents are going to have to use social media to get the leads that they need. In the twenty-first century, this is just a much more widespread practice. More people are finding out about great houses through a friend of a friend, and they’re not doing that over the phone. A real estate agent, in general, is going to need to get creative in a market like this, using all of the tools at their disposal and trying to find new ways to sell homes in a market where buyers expect low-interest rates and lots of other advantages. Many MLS listings will make it easier for realtors to find houses to buy and sell. Other places to consider with be to advertise on Facebook and other sites that will target ads to the pertinent demographic.
The has always been important in real estate, to the point where some real estate agents say that where a house is located is more important than the quality of the house itself. However, people, these days are going to be more concerned with whether or not a home is located near their places of employment. Some people are even going to care more about whether a home is located near a Starbucks or a grocery store. Even as the economy is recovering, people have the sort of instincts and concerns that have been seasoned by the Great Recession, which can potentially help some individuals in the real estate market in some unexpected ways.