Want to buy a home? You may want to wait!
Economists predict that a buyer’s market will soon return
Home buyers who exercise patience over the next couple years may be handsomely rewarded.
In a survey of 100 real-estate economists and experts conducted by real-estate website Zillow ZG, -0.13% and research firm Pulsenomics, a 43% plurality said that they believe the U.S. housing market will become a buyer’s market in 2020.
By then, the number of homes available for sale could finally outpace demand, allowing home buyers the chance to negotiate a lower and more affordable price on a property. The researchers didn’t give estimates on what kind of discounts buyers could expect.
They did, however, say that some markets will see the tide change sooner than others. The panel of experts predicted that the Midwest will be first to experience the shift into a buyer’s market as early as 2019, followed by the rest of the country in 2020.
It’s the latest indication that experts in the real-estate industry are starting to grow bearish on housing. Back in May, a separate Zillow and Pulsenomics survey found that more than half of economists polled believed the U.S. economy would fall into a recession sometime in 2020.Recent data have shown signs of trouble in the housing market. Although home prices are still rising at a faster pace in 2018 than the year before, the rate of price appreciation in some of the country’s hottest housing markets has slowed considerably.
Additionally, more home sellers are having to cut their listing prices. At the same time, mortgage rates have fallen in recent weeks as more buyers choose to stay on the sidelines because of the high cost of buying a home.
But those selling their homes now need not worry too much. While the future isn’t looking swell, the historically low inventory of homes for sale should help owners get the price they want when they take their property to market.
“Conditions are starting to show signs of easing up, but the effects of years of limited construction still linger,” said Zillow senior economist Aaron Terrazas. “Inventory is still falling on an annual basis, and home values are growing well above their historic pace.”
He says those selling their homes still have the edge in most markets in 2018. “Although these trends are starting to lose their edge, it is far too soon to call it a buyer’s market,” Terrazas added.
READY TO BUY A PROPERTY?
Are you searching to buy a home but debating and thinking..."Everyone’s telling me it’s a Seller’s market, so is now a good time to buy? With the Fed's "normalization" policy in full swing and interest rates rising should I wait?"
What are the unique decision making factors and numbers I need to crunch for me to consider tailored to my situation? How much should I offer? What is the offering price based on? What is the detailed condition of the home? Where is the location and in what direction is the local market trending? How much did the seller pay? How much does the seller owe? How much have similar homes sold for in the neighborhood? How many offers has the seller received? How long has the home been on the market? How old is the roof? Can I negotiate with the Seller to pay for repairs before closing? What is the type of foundation? Are there nuisance factors? Traffic? Noise?
Your situation is completely different then anyone else's. Are you a long term first time buyer looking at an LTV of 90 or 95% and building a lifetime investment and treasure and castle for you and your family? Or are you an investor with cash looking for at least a 10% capitalization rate, good positive cash flow, positive depreciation and flipping in 2 years for a healthy rate of return?. Consider that as rates rise... every .5% (one-half) percent increase in the interest rate makes your purchasing power decrease by 4 to 5 percent (the percentage is smaller for lower loan amounts and much larger for larger loans as it is graduated due to amortization).
This is my world, as an economics major and prior investment Banker proficient in Corporate Finance and handling multi-million dollar deals, now as a Realtor I am uniquely qualified to help you crunch the numbers and show you where the leverage is for your unique situation. Whether you're a first time home buyer, a long term homeowner looking to sell and downsize or an investor, come to my web-site (www.JohnTheBeachRealtor.com), call or text me (727-543-2336) or hit the appointment button on my FaceBook page (https://www.facebook.com/johnthebeachrealtor/?modal=admin_todo_tour) and I'll sit down with you with our powerful proprietary Coldwell Banker Tools and decision matrix that will help you make the confident financial and timing decisions you need before buying, selling or investing. Best---John (John Suleiman) www.facebook.com/johnanversuleiman
CONSIDERING SELLING YOUR PROPERTY? (CLICK HERE for a FREE PROPERTY ESTIMATE OF ANY PROPERTY IN THE U.S.)
I know your property might be your home where you raised your children, where you’ve lived with your loved ones and where many joyful memories were made and cherished. Or maybe you were an investor that bought it for a healthy capitalization rate and it has blessed you over the years with a substantial profitable rate of return. Either way, I am uniquely qualified to get you the maximum return on your home or investment property.
My name is John (most know me as "John The Beach Realtor") and I am a 3rd generation real estate Pro in this area. My family originally settled here in Pinellas county, Florida 80 years ago and I've known this area intimately and for over 40 years have dedicated my professional life to customer service, marketing, advertising, copywriting, investment banking (negotiating multi-million dollar deals for Sellers) and to the remodeling industry. Call, text (727-543-2336), email (email@example.com), or visit my site (www.JohnTheBeachRealtor.com) or Facebook (https://www.facebook.com/johnanversuleiman) and I'll show you in great detail how I'll get you top dollar and give you the unique benefits and special features you'll receive when you give me the opportunity to help you.
I am a full service Realtor which means I will give you comprehensive market analysis, remodeling and repair tips, well positioned successful open houses, be available for all showings (including those given by buyers' agents when helpful!). I will customize promotions for your unique property, creatively negotiate on your behalf, handle all transaction management thoroughly and consistently and be there every step of the way from listing to closing and afterwards (when you contact me 24/7 if ever you need me or ever have a question!).
1) I was previously a Colorado Realtor back in 2003...Century 21 Colorado Springs
2) I was an Investment Banker (mergers and acquisitions) for Luntz, Suleiman and Associates representing Sellers in multi million dollar deals in the Seminar, Conference and Trade-show areas.
3) I built a successful Direct Mail List Brokerage and Management Service and eventually sold it to Lewis Direct in Denver, Colorado
4) I ran an International company called The Marketing Federation, and have over 35 years continuous, comprehensive, successful experience in marketing, database marketing, advertising, public relations, copy-writing and customer service and 6 years in psychology and counseling and helping people!
For a free property estimate and the 3 best positioning strategies you need to be doing now to get top dollar for your property, call or text me at 727-543-2336...or CLICK HERE and I'll send it to you right away...no obligation whatsoever! I look forward to helping you soon! Thank you for the opportunity Best---John