|We have plenty of clients who are constantly searching for the perfect fixer upper. If you’re looking to get the most bang for your buck, here are five tips that realtor.com expects to shape 2016.
1. Expect normal sales
While real estate is still expected to be on the rise, it will not be at the same pace as 2015. This isn’t a problem, just a return to more “normal” real estate environments.
2. Millenials are buying
They bought over 2 million properties last year and will continue to buy, buy, buy in 2016. Those shoppers in the 25-34 range need to be the focus of your marketing plan. Forget newspapers, radio and TV, you need to focus on social media and viral marketing.
3. Builders will be affordable again
For the past few years, builders have been able to charge more for the rising demand in luxury constructions. This is going to change in 2016. New home price points are falling and with that so will the cost of new builds.
4. Interest rates will continue to fluctuate
This means that higher cost housing will be affected when rates go up. Buyers won’t be able to afford the payments with higher interest rates. But, rates are expected to ebb and flow similar to 2015.
5. Rent is still booming
Rentals have been inflated so much in the past few years but they will continue to grow in 2016. Home purchases are the lowest they have been in years which means the rental market is starved for more properties.