«We expect this revision will certainly kick
some buyers out of the marketplace, and we're in ongoing efforts to quantify how extreme the impact will be,» Lisa Jackson, senior vice president of research at John Burns Real Estate Consulting, told HousingWire.
Colorado is pricing a lot of first - time
buyers out of the marketplace, and, really, the only salvation is low interest rates.»
Each $ 1,000 increase in the cost of a new median - priced home price forces 206,000 prospective
buyers out of the marketplace, according to a new study by the National Association of Home Builders (NAHB).
«We expect this revision will certainly kick
some buyers out of the marketplace, and we're in ongoing efforts to quantify how extreme the impact will be,» said Lisa Jackson, senior vice president of research at John Burns Real Estate Consulting.
Not exact matches
The result is that
buyers with poor credit will effectively be shut
out of the
marketplace.
«Lenders prefer to see that a home
buyer has two years
of stable employment in the same industry — unless the home
buyer is just
out of college, which carries special circumstances,» says Ginger Wilcox, chief industry officer at the mortgage
marketplace Sindeo.
Colin Rule: Well, it's interesting, we are building a new society
out in cyberspace, it's cross-border, I mean, any
of us can pull our phone
out of our pockets and swipe, swipe, swipe, we buy something from someone on the other side
of the planet and the justice systems that we have are tied to geography, if it's a dispute between a
buyer in Argentina and a seller in Paris based on an e-commerce
marketplace in the US and the item is drop - shipped
out of China, I mean, our current legal system really can't make heads or tails
out of that because it's the jurisdiction, it's just too confused.
In Maryann Vitale's St. Louis, Mo.,
marketplace, sales prices are up,
buyers are preapproved and ready to buy, but low inventory is taking the wind
out of the proverbial sails.
«The
Buyer Profile stats for our zone, Comox Valley, show the effect
of the Comox Airport since the arrival
of WestJet, and the huge increase in
out -
of - town
buyers, from 25 per cent to 50 per cent
of our
marketplace.»
In order to successfully amp up business and ride the progressive waves
of the
marketplace, it's imperative that agents capitalize on opportunities that further promote their listings and entice inquisitive
buyers to reach
out.
The flip side
of all this,
of course, is that if prices do decline, that will make purchasing a home more affordable — potentially good news for renters and move - up
buyers priced
out of the current
marketplace.
While it appeared to you and many others that real estate values would go up forever, the economy turned, most
of the
buyers dropped
out of the
marketplace, and home values ended up crashing.
Given that 92 %
of all
buyers use the internet to search for homes, utilizing the best digital marketing tools will ensure your home truly stands
out in a highly competitive
marketplace.