You probably remember last year as one characterized by crazy up-and-downs in the stock market, political problems, and monetary madness. Also, you most likely realize these “underlying” trends aren’t exactly on the “back burner” in 2019. But, hope remains while companies are true. Despite last year’s trials and tribulations wreaking havoc on the housing market, businesses like iMaxCRM can give you the competitive advantage needed to sell real estate successfully. We realize that 2018 may have been a bust for many agents and brokers in the US. However, there is a silver lining when it comes to the housing market in the new year. Expressly, home-sellers are likely to observe noteworthy development booms, vast improvements surrounding smart-home innovations, and different amenities. Alongside broader trends appearing in the seller’s market this year, you must also realize how buyers perceive the current market. Equally important, you need to understand the obstacles in front of sellers. OK. I know what you’re thinking. How did iMaxCRM get a hold of a crystal ball? Well, we know perfectly well predicting the future isn’t possible. We also know that accounting for market trends and assessing increasing consumer demands teaches us a great deal about market possibilities. At the end of the day, it’s not about prediction. Instead, it’s much more about preparation. Much less, speculation of future market movements allows sellers to gain a competitive advantage.
Is luxury real estate cut from a different cloth?
Deep down you know it’s true. Luxury real estate draws a different crowd than your average home sale. Regardless of this difference, there are similarities between high-end housing markets and every day “estates.” Together we’ll look at some factors likely to affect how things unfold for those of us in the real estate industry.
Sometimes, more is less
In light of the rising mortgage rates experienced over the past couple of years, housing inventories are through the roof. Yes, it’s true. Prices are slowly pulling back in 2019. However, mortgage costs remain significantly out-of-reach for many Americans. High-priced mortgages, coupled with the resulting lowered asking prices and higher interest rates can make affording a home hopeless. So what? What does that have to do with sellers, you ask? For starters, players on both sides of the field are likely to feel financial frustration throughout 2019. Even though, in theory, a sharp increase in inventory should help both buyers and sellers, this notion is quickly losing steam. Not only do we see inventory expansion negatively affecting price gains, but it’s also scaring sellers into submission. At iMaxCRM we understand housing markets are defined locally. For example, the New York Times proffers the “already soft market” can expect to see much more activity in the greater New York City area. By the same token, Florida Trend, a reputable real estate publication in South Florida, states: “Florida’s housing market is projected to do very well next year.” Furthermore, tendencies toward decelerating prices are gaining traction in high-demand areas like New Jersey and New York.
Uncertainty Lingers
Still, real estate markets across the country exhibit uncertainty pending possible price fluctuations, political unrest, and large-scale economic issues. Though disconcerting, the realities of skyrocketing mortgage prices, tumultuous tax changes, and a volatile stock market are very real for many invested in real estate ventures. At the same time, chief economist staffed by Realtor.com, Danielle Hale, says, “it’s a different world at the end of the year than it was at the start of 2018.”
Whatever the case may be
No one can be certain how 2019 will play out in the housing market. Bearing this in mind, it’s always best to be prepared. If you had a less-than-stellar performance last year, you probably want to make more sales in 2019. Relying on aggressive marketing techniques and innovative technologies, like iMaxCRM ensures you’ll profit as much as possible.