Latest Trends in Real Estate for 2008
In this time of unsettling economic news and talks of bailouts and stock losses, it’s time to focus on what new real estate trends are coming into play as we head into the final quarter of 2008. Here are a few for all you savvy investors:
· The market is returning to the traditional decent price with a qualified, approved buyer who has a down payment to put towards the purchase.
· Real Estate agents are spending more time developing quality leads in order to better sell the inventory they’re representing.
· Agents are also putting a realistic price on a property rather than playing games with numbers and pricing real estate with an unrealistic “value range.”
· Short sales are becoming a more common way for buyers to purchase a property.
· The market is changing and for the better with an increase in real sellers and a decrease in buyers who are serious about purchasing a property.
· No longer are real estate agents as concerned about what their commission is going to be and more concerned about truly representing their clients.
· Real Estate offices are cutting staff in an effort to reduce their own overhead. Smaller staffs to manage provide real estate agents with more time to work on generating leads, following up on client calls, more time to show properties, etc.
· The market is going from a fast market to a slower market which allows for more quality real estate deals getting done.
· The real estate agent pool is slimming down. Gone are the agents who were only interested in making a ‘buck’ and with a smaller real estate agent market, the true real estate professional is now back in demand.
· Strategy meetings in real estate offices are concentrating on getting back to the fundamentals of real estate where agents spend part of their day on lead generation, write tighter contracts and deal with fewer but more serious buyers.
These trends in the real estate industry are positive ones for buyers and sellers and should allow for stronger deals and quality transactions.
