Real Estate News with Terri Taydus, GRI, CNA

Housing Predictions for 2014

January 2nd, 2014 12:38 PM by Taydus Taydus

The below information is courtesy of Keeping Current Matters - an industry resource for the general public and Real Estate professionals alike.  You can find Keeping Current Matters at  www.keepingcurrentmatters.com

I have inserted my own thoughts and comments followed by an "*" in bold print :)



Making predictions in what is still a somewhat volatile housing market can be tricky. That being said, we are going to give you what we believe will be the five biggest headlines for housing in 2014.

Home Sales Will Surge

Many housing pundits are calling for home sales to do slightly better in 2014 than they did in 2013. To the contrary, we strongly believe that home sales will skyrocket with increases of 10-15% in 2014.
* What does this mean to you? It means that this is a GREAT time to list your home! There are a LOT of buyers out there.  Please contact me for a free, no obligation Market Analysis of your home.

Supply Will Struggle to Keep Up with Demand

With a dramatic increase in demand, it will be up to real estate professionals and builders to make sure there is the necessary inventory to satisfy this demand. This will be a challenge for much of the year.
* Sellers - this puts you in the driver's seat.  Make sure you use a qualified Realtor to list you home so you can sell quickly for your home's maximum market value!  Buyers - BE PREPARED! Get pre-qualified and ready to make a strong offer when you find the right home.  Haste makes waste and you do not want to lose the home of your dreams to another buyer that was "ready to go!"  Also, having a good Buyer's Agent on your side is invaluable.  You want someone there to advocate and negotiate for YOU.  Remember, the seller typically pays the Buyer's Agent's commission.  Buying directly from the Listing Agent typically does not save you any money as the seller is now paying a "Transaction Broker" fee to the Listing Agent.  You run the risk of losing the home you want, or $$$ because you will have no one in your corner advocating just for you.

Interest Rates Will Increase Significantly

Most experts are calling for an increase in mortgage interest rates in 2014. However, we believe the increase will be more dramatic than is being projected. We believe rates will be closer to 6% than 5% by year’s end.
* I have not heard anything about 6% however I have been hearing rumblings about the rates potentially hitting 5%.  This is still low, however if you have been considering buying or selling NOW is the time to do so before the rates go up ;)

Consumers Will Demand More from Real Estate Professionals

Home search will become a given to the real estate consumer in 2014. In order to differentiate themselves from other agents, real estate professionals will need to bring strong, meaningful content to the table in all their offerings
* "Strong, meaningful content" You want at Realtor that knows how to write and present a strong offer.  You need to stand out above any other offers the seller may receive in a multiple offer situation!  Personalized service from your Realtor will be more important than ever.  Don't get duped into hiring a Realtor for their reputation only to discover he / she is not the one handling your file (i.e. that your file is turned over to a less experienced agent that is on their "team").  My strengths are personalized service - I personally handle all of my client's files - and negotiations - I hold my Certified Negotiations Expert (CNE) designation and have a firm understanding about what it takes to get your offer noticed and accepted!

Go Mobile or Go Home

Any content strategy the industry contemplates must have a mobile component. All information will be accessed 24/7 in every conceivable environment. The professionals who understand and act on this will dominate 2014.
* I agree with this 100%. So many Realtors underestimate how tech savvy today's clients are ;)  We have all become accustom to instant information.  That said, buyers and sellers need a Realtor that is competitive in this area and can provide the information to their client - or provide a way for their client to access information - 24/7.  It is important as a buyer or seller to be on top of your game and to have a Realtor that can provide the tools you need in order to do so. That is why I personally search the MLS every day for my buyers (vs. setting up an "auto-search" that does not screen the listings that are sent to your inbox), and I have a fabulous mobile app that can keep you updated on the run (please see my homepage for a quick and easy way to download my FREE mobile home search app...and don't forget to leave a review for me in your app store :)

LET'S MAKE 2014 YOUR YEAR TO BUY OR SELL YOUR HOME!


 

Posted by Taydus Taydus on January 2nd, 2014 12:38 PM

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