Everyone has heard the horror stories about the collapse of the housing market, and there were many who predicted that the real estate industry would never fully recover from that massive event. Well, the experts have been wrong before and the numbers are suggesting that they’re wrong again.
Growth with challenges
According to a recent article in “The Voice of the Valley,” a community newspaper east of Seattle, there has been growth, but it has come with some challenges. One is that there are not enough homes on the market.
This assertion is coming primarily from real estate brokers who are looking for potential deals for their clients. But the thing to remember in evaluating their claim is that most brokers normally specialize in certain types of homes, and deal with a specific kind of client.
The shortage that’s upsetting them is more than likely range- or area-specific, because all of the national numbers reflect growth. Currently, there’s roughly 4.5 months worth of inventory, which is characteristic of a balanced market.
Finding the right agent or broker
A great deal of your ability to identify the right home in a relatively short period of time has to do with having the right agent in your corner. One of the quickest ways to select an agent who will be dependable and productive is to go with a larger, more well-known brokerage.
These agencies normally monitor their agents very closely to protect their brand. That doesn’t mean that you can’t find a great agent that works for a small, independent broker.
Some of the top performers in the country work for small firms such as Maxine and Marti Gellens in the San Diego area. The key is to take your time to do your research, especially with regard to the smaller firms. You may find that often, the agents from the smaller firms are more committed to doing the best job for you.
According to Realtor.com, the value of choosing the right agent cannot be underestimated. A real estate agent plays a major role in a number of important tasks, such as:
Home locating: The first task at hand is to find a home that meets your qualifications.
Helping you make the right selection: The agent will have the experience necessary to point out certain nuances that might otherwise go unnoticed.
Helping you negotiate the final deal: Negotiating the final price on a property can be intimidating, but a good agent will advise you while representing your interests with the selling agent.
Moving into 2014
As 2013 came to a close, there were plenty of strong signals that gave market analysts cause for optimism. Their reports have set high expectations for 2014.
According to the U.S. Department of Housing and Urban Development, new home sales for single-family dwellings were up by 14.1 percent over the same period a year ago. One of the reasons for the increase is the fact that a formerly steady increase in sales prices began to taper off.
When due diligence is performed and the right connections and partnerships are made, buyers can find some exceptional opportunities to purchase an ideal home.