A real estate trend is any consistent
pattern or change in the general direction of the real estate industry which,
over the course of time, causes a statistically noticeable change. This
phenomenon can be a result of the wealth, a change in mortgage rates, consumer
speculations, or other basic and non-fundamental reasons.
One secret to success in real estate is this: get to know
your customers best interest and always keep it in your heart. That fact has
led me to make my own quote I know is true: People don't care what you know
until they know you care.
The more you engage with clients, the clearer things become
and the easier it is to decide what you should be doing. If this isn't previously
your modus operandi, please add it to your list of New Year's resolutions.
Right now, national housing inventory is at about five
months, a healthy marketplace. Less than five months, and you'll see a buyers'
market; more than five and you get a sellers' market.
And on the topic of buyers, we know many buyers got a taste
of homeownership from 2002 to 2007 when the mortgage rules were so loose anyone
and her third cousin could qualify. We know how that ended in 2008 with a near
economic meltdown. But I believe those buyers still have that taste for
homeownership - it's still the American dream.
Those buyers will see qualified residential mortgages (QRMs)
that go into effect in 2014 where lenders will be required to keep a 5 percent
stake in loans that don't meet QRM standards. But I also feel we'll see some
alternative financing or some sub-prime products in 2014 so buyers. Go out and
start making some contacts for 2014 and put their best interest in your heart.
More Real estate News: Jeff Adams Scam