There are shifts occurring in the real estate industry each year, and these trends can help you to get a better understanding of what is out there and how it affects you and your family. Charleston SC real estate is a competitive market and the folks at Premier One understand this and bring there home buyers and sellers the information they need to make the best decisions.
Here are the top 5 important trends in real estate happening this year and how they will impact you.
1. Lending Troubles – The lending world has learned painful lessons in the past years when t comes to giving out their money to potential home buyers. This means that you better have your credit and your finances in order if you expect these lending institutions to come forward and take a chance on your. Getting your credit in order before you go house hunting will surely make the process much smoother.
2. Shifting Demographics – In one alarming statistic that is trending today, each day 10,000 baby boomers are retiring. These folks are moving many regions are changing to accommodate the influx of new buyers. Study your area and know if your area appeals to the baby boomers, it can affect both selling prices and inventory.
3. Affordable Housing – One trend that is attracting an entirely new audience are the construction of more affordable housing. These houses are being built in record numbers at more reasonable prices to fill a need to get low-income families into their first homes. This means the market in these areas is taking a ht because fair market analysis for an area with these homes brings house values down instead of up.
4. Energy Efficient Houses – As the push to be more green moves forward, more construction companies are employing the efforts of bringing green features into these homes. From the installation of solar panels, tankless water heaters, and storm resistant windows, a buyer can now make their new home more energy-efficient during the construction process.
5 Social Buying and Selling – As more people are becoming comfortable with social media, the realtors have found a new way to market and sell to their customers. Mobile apps are doing the leg work that used to fall on the realtors, allowing potential buyers to see the entire inside of a home in a video or streaming pics that gives them the chance to make decisions without having to even step foot inside these homes. This saves time for the buyers, sellers, and realtors, a win for everyone in the real estate industry.
These 5 important trends in real estate are constantly evolving, but knowing they are taking place keeps you on pace with this ever-changing space.