The housing market in 2012 will vary widely from neighborhood to neighborhood with some doing much better and some doing much worse than the overall average. Thus, it’s hard to make general statements about housing across the country in 2012.
Some housing experts say that the yearly forecast shows continued growth for the market. This is especially true in the most desirable neighborhoods. Price stability also looks to be more stable. Condominiums and apartments will surge even with the construction and development of new subdivisions. They say that this could be the best year both for sellers and buyers since 2006; again, depending on the neighborhood. Housing has been flat for many years, but it will improve as developers begin to start new projects. Foreclosures will continue to be a problem, and will still affect many markets especially in the West. After a brief slowdown with foreclosure processing, they have begun to pick up once again. This looks to be the one issue that could potentially derail any uptick in housing.
However, some of the positive signs that the country’s housing market is improving are as follows: the jobs market is looking up, housing sales and construction have been showing recent signs of improvement, business sales and profits are rising, and many consumers are in better financial shape today than they’ve been in the past few years. The growth of the housing market is forecasted due in large part to the increasing number of newly-built homes, a slowly rebounding job market, and the rapid growth of population that needs housing. The latter being one of the reasons rental properties in high demand. Good news for the housing is that job layoffs have been steadily declining along with the unemployment rate. Most real estate analysts agree that the jobs and housing markets go hand in hand. As more people find work, they are better able to qualify for a mortgage, and are more likely to buy a home.
Home construction has finally begun a gradual comeback and should add to the nation’s economic growth, a turning point in the recovery from the recession that much of the world has suffered.
Congratulations to my ReMax team, who was ranked 8th among the Top 10 real estate teams, according to the Nashville Business Journal. ReMax is the only company with under 100 real estate agents to be listed by the Nashville Business Journal, and it’s an honor to be team members with 3 of the Top 10 real estate agents, Gwen Dowland (#1), Lindy Gaughan (#5), and Bernie Gallerani (#7).
Let’s keep up the great work, and make 2011 our greatest year yet!
Open houses are widely considered a great way to sell your home, because they are faster and more efficient than single showings. Rather than continuing to open your home up to viewers, you can set a specific day to show your home, and allow all interested parties to view it at the same time. Yet, many question if having an open house is truly the most effective way to sell your home.
Many people realize that an open house is open to the public, and so people who are just beginning their house search or are, “just looking” often attend these types of events. Because of this, you may not get many serious offers from every open house. Instead, you will get many people browsing your home to see what’s on the market. However, you can still learn a lot about how to sell and market your home from people who are just looking.
When you’re first scheduling an open house, make sure it’s at a convenient time, like on the weekend. Most people are working during weekdays, and won’t have time to stop by an open house. If you’re planning on having an open house, make sure your house is in the perfect shape to sell, and don’t let any repairs our outdated pieces of your home go untouched. Often when people have an open house, they find it helpful to hire a realtor. Having an open house by yourself can prove to be a lot more work, and a qualified real estate agent will be knowledgeable in all the facets of a successful open house.
During the actual showing, don’t hover over people viewing your home. In fact, some realtors suggest the homeowners are not present during the home showing. If you do choose to be present during the viewing, be sure to answer any questions openly, and to not hover over viewers. Combine all these tips to have a successful open house and to sell your home quickly and for a great price.
Living in Nashville is wonderful for so many reasons. From the unique architecture and variety of home styles, to the history and abundance of country music, Music City is a great place for families to call home. Now, there is another reason to live and work in Nashville.
A recent Forbes study has named Nashville the fifth most affordable city to live in the United States. The study compared the cost of living, housing costs, and the unemployment rate to reach this conclusion. Because of this, many businesses are able to thrive here, and many families have chosen to relocate to Nashville. The result is more business and a greater cultural richness that is hard to beat. Not only that, Nashville is a great place to invest in real estate, and to find a quality home for you and your family. With so many neighborhoods to choose from, the only difficult choice is which area of Nashville to settle in! We didn’t need another reason to love living in Nashville, but being an affordable place to live makes Nashville a great place to call home!
When you’re ready to sell your home, it’s important to properly showcase the property (interior and exterior) for homebuyers to get a clear picture of what is available. A bad picture of your home can make or break a potential sale.
If you’re planning on taking pictures of your real estate yourself, you must have a quality camera. Take advantage of the natural lighting in your home, and clear any clutter or occupied spaces to make your home look as large as possible. Don’t post pictures where there are people or pets in them, and make sure that all the photos are of the highest quality. Many people are hiring professional photographers to take pictures of their homes. A professional will be able to make your home look its absolute best, and the cost of hiring a professional may be worth it when you make a great sale. Your real estate agent will be able to guide you through this process, and ensure that your home listing looks professional, and showcases your home realistically and beautifully.
Real estate located in college towns contains many advantages, but it’s important to be realistic about purchasing real estate in a college town. There are pros and cons to every location, but a college town holds special considerations.
College towns, because of the likely inhabitants, are often home to unique restaurants and coffee houses, as well as shopping locales for college students to enjoy. These towns often provide interesting and engaging neighborhoods for the entire community to enjoy, as well as artistic vibes procured by college students and creative types. This often draws many people to live in college towns. Yet, towns with colleges are often the homes of exciting nightlife, and downtown neighborhoods that stay open well into the morning. Consider whether or not this is suitable for your family before purchasing real estate in the area. More and more college students are moving off campus, rather than staying in dorms, so your neighbors may be rowdy college students. Different neighborhoods in college towns hold different atmospheres so inquire about all the areas in a college town with your real estate agent before making a decision.
In the real estate business, trends are always changing and shifting, depending on the next big thing. While there are many real estate staples, there are certain phases of real estate design that come and go like fashion trends.
People are currently not afraid to remodel, and to this end, many older homes with potential are being sold to families who plan on tearing down walls and revitalizing bedrooms. Smaller kitchens are being combined with dining areas, so families can cook and entertain at the same time. Additionally, professional trends have many people working from home. To this extent, many families are looking for homes with an extra bedroom that can be turned into an in-home office. Blended families with multiple children often require larger homes too, so this is a current trend being seen in the real estate industry. Familial, technological, and fashion fads all affect real estate and allow trends to come and go in popularity. Real estate is an ever-changing industry with so many options, so no matter what the trend, your perfect home is waiting for you.
If you’re looking to improve the value of your home, because you hope to sell it in the near future, you must become familiar with curb appeal. Curb appeal is a term used to describe how the outside appearance of your home can potentially increase its value, and the desire to purchase it.
If you’re unfamiliar with curb appeal, think of it this way: if you were standing on the curb looking at your home, would it appeal to you? If the answer is less than enthusiastic, there are things you can do to improve the curb appeal of your home. As usual, keep your lawn tidy and groomed. Flowerpots and other decorations can improve the look of the outside of your home as well. Always repair loose shutters, gutters, and screens on the outside of your home, and be sure to keep your exterior paint in the best possible condition. Being fastidious in the exterior (as well as interior) of your home will improve its curb appeal and increase the chances of you promptly selling your home.
The real estate market is full of turbulence, causing those buying and selling homes stress. While the real estate market is not quite performing optimally, there is still plenty of hope for those entering it. Cities such as Atlanta, Georgia and Houston, Texas are experiencing lulls in the real estate market. However, Nashville (and surrounding areas) is still experiencing high rates of relocation, which is serving to boost real estate sales.
The cost of living is moderately low in Tennessee, further boosting real estate sales. While new construction is slowing, we are still not seeing a significant drop in the value of many properties in Tennessee. Unemployment is a significant issue in the state of Tennessee, but our statewide rates are improving compared to other states. Similarly, condominium sales in Nashville are gaining momentum, and have been since 2009. While many real estate trends are speculative at best, it is clear that Tennessee has a right to be hopeful for the future of its real estate market. Overall, the current real estate trends in Nashville, and the rest of Tennessee, give reason to be optimistic.
This last month more homes where bought than expected. While there are those that will say that’s not saying much, it does prove that people are still buying homes despite the end of the tax credit that was designed to get the housing market over a hump. Is the housing market booming like it was just a few years ago? We all know the answer to that is no. However, just like any other financial market, the housing market traditionally goes through much needed corrections from time to time.
Most experts believe there are some additional corrections that need to take place. But one has to remember that people have been and will continue to move from place to place as their lives change and families grow. This is the way of the world. There will always be a need for houses and the ebb and flow of the market will always be affected by the demand. Good, solid homes are still selling and good, solid people are buying and that’s the way it will always be.
