When is the Best Time to Buy a House?

Best Time to Buy a House?

Whether it’s 2018, 2019, or 2020 that you hope to buy a home or invest in a rental income property, you might be comforted by the knowledge that real estate does well anytime you buy.

If you take great recessions and banking crises out of the timeframe you’re considering to buy, then your long term investment is sound. The historic price charts show rising home prices throughout the decades.

In every major city, the market forecast is good.  The Boston housing market, New York real estate market, Florida housing market, Houston housing market, SeattleSan Francisco, or Los Angeles housing market, the value of real estate has surpassed the stock markets, gold and of course your savings account.




An if you’re a first time buyer, paying a huge chunk of your income to rent, this whole matter of buying at the right time is important to your current and future well being.

Avoid the Peak Times to Buy a House

So you’re wondering what time of year is best to buy a house? Or, are you wondering if there’s a time of the month where more houses suddenly come on the market, where you might get first dibs? Sometimes selling after a major weather problem might be a good time too.

The floods in Houston and Miami, and the fires near Los Angeles and landslides near San Francisco, are events that trigger bargain home purchases.  If prices have fallen precipitously as they did in the Toronto housing market and the Vancouver housing market, then this bottoming out period might be a great time too.

Okay, for those without a strategic sense, buying in the fall months traditionally might be best to get lower prices. However, everyone pulls their house off the market during October, November and December. That can’t be good for a home search.

If you have a smart Realtor, and a real good home search strategy, you might be able to find those sitting on the fence and get a low ball offer in. You might get lucky and save tens of thousands of dollars and get a property that everyone else gave up on.

Is Spring the Best Time to Buy a House?

Spring 2018 is a great time to get started your house search. Home owners and buyers are arising from their winter dens and thinking about 2018. In many cities, the demand for homes has already started. Realtors are still talking multiple offers and bidding wars.

If homebuyers are actively listing to sell during January to March, then they are likely eager to sell their listed home.




They might be babyboomers sitting on the fence about selling (they’ve got nowhere to go) or they could be Generation X aged couples thinking about moving up to a larger property. A lot of buyers, perhaps you to want more space.

If you meet with these property owners you may be able to convince them to progress with their life plans. That means anytime time of year might be the best time to buy a home.

A report from Trulia shown below reveals fall prices drop by about 7% yet still remain 5% below for the months of January, March and February. You can find a bargain from January to April 1st. That means you should be looking right now for your next home or condo, before mortgage rates start to climb.

January, February and March might be the best time of year to purchase a property for real estate investors as well.

This might run counter to what people believe and have been told about the market. It might be harder to search for a home and get sellers to sell quickly. But remember, the actually possession date is off in the future.

People who might sell have more time on their hands in the Winter, especially if they live in Seattle, Chicago, Minneapolis, New York or Boston. It’ll be easier to get in touch with them and discuss your sincere, heart felt offer.

The best time to buy might be right now. If the economy improves and wages do rise, home prices will rise throughout the 2018 to 2020 period. Unless you’re very pessimistic and believe in catastropic events, demand for housing is unmet across the US and Canada. With more money in the picture, the longer you wait, the more it will cost.

It Doesn't Pay to Wait to Buy a Home

Launching your Research to Negotiation Strategy

So now, you need to discover the best way to reach them. Having a realtor who feels similarly about the winter search timeframe is good. If they don’t like, go with someone else. The compatible Realtor is likely not busy so they can put a better effort into finding homes, approaching the homeowner, and working with you to put out the best offer.

They may even take a lower commission, but don’t push that. The Realtor will likely be worth the 2.5% you pay them. If you wait till April, May or June to buy, you’re getting the highest prices, most competition, and your Realtor is too busy handling multiple clients and micromanaging negotiations. So that’s the worst time to buy — when everyone else is.

Another bad time to buy? During the Super Bowl Game.  Take a look at the Super Bowl predictions and put your money down, and then enjoy the game on Feb 4th, 2018.

When is the Absolute Best Time to Buy a House?

The very best, ideal time to buy a house in the winter, may be near or at the winter holidays such as Easter, spring break, or teacher professional developent days. Homeowners may be at home and may be most susceptible to the idea of selling and moving.

Late winter is a restless time for those in the cold, snowbound north, which is why a good number of people fly south for a vacation. Discontent, fatigue, boredom, and desire for something better is what gets them off the fence about letting go of their old house. Why do people sell in the spring? Because they’ve had enough after their winter of discontent. Catch them early.

Don’t worry about which days are best to buy a house. The key is to use your all channel accelerated home search strategy into action, and begin uncovering your dream house amidst winter’s gloom.

Good luck with your house search. You’ve found the best time to buy because it’s the best time for them to sell.




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New York Real Estate Market Forecast ⌂ Forecast 2018 Queens Bronx Manhattan Long Island Brooklyn

New York Real Estate Predictions 2018

There’s no shortage of doom and gloom talk about a US housing crash that would take NYC down with it. In fact the recent reports of high foreclosure rates in Queens, Bronx and Staten Island are a little alarming.

The 3rd quarter market performance was less than stellar, the worst in many years.

Yet the Trump tax bill may just rectify the foreclosure carnage even as it slowed sales and lowered property prices as investors and buyers waited it out. The wait might be over now.

Overall home prices rose above $1,000,000 and condo prices fell 11% to an average of $2,689,147. It’s the high end properties that got hit hardest. At the lower end, NYC has a full blown housing shortage.

With income averaging about $60,000 per year in New York City, it’s difficult for many to buy homes averaging $680,000.  It’s estimated that to buy a home in NYC, you need an income of $100,000. New York State’s economy was a sluggish underperformer in 2016, however in the last 12 months NYC has gained 68,000 jobs. In November alone, NY State grew 26,000 new jobs.




The US economy persistently grows and improves despite the terrible debt and trade deficits left by the Obama administration. The Trump Administration new Tax bill are being viewed as positive and have quietened talks of housing market and stock market crashes.

Bar any issues with trade relations, and President Trump’s recent visit to China is a good start, all should go nicely with the US housing scene and help New York recover further. It could be said that NY’s inability to create new housing has made it too expensive to live their. That scares away business and makes buyers suspicious of a NY housing crash.

This chart below from the Case Shiller Home price index shows NYC’s real estate is stable and optimistic.




NYSAR New York Real Estate Update December

Here’s the latest New York housing stats published by NYSAR, shows the typical US housing data, that supply of affordable homes has dropped 1%, sales are down 2.5%, and average prices are up 7% from last year.
 Screen Capture courtesy of NYSAR

You could say that just like the San Francisco market and  Los Angeles market, and all major city markets acorss North America, the New York housing market is under pressure.  The NYC forecast is for more of the same, but at least, the market here isn’t like it is in Seattle, the Bay Area, or Los Angeles county.

It’s pretty far fetched that New York’s real estate performance could deviate too much from the US national forecast. A crash isn’t favored by the stats.

Is 2018 the right year to invest in rental income property?  Contrast the stock market to investing in real estate.


Auto Insurance New York

Looking for a lower quote on New York  Car Insurance. Find out how you can save on auto insurance and save thousands of dollars on your next policy. It’s time to switch insurance companies to get the rate you deserve. The Best of NY Auto insurance companies want your business.

Some Experts are Talkin’ Crash while Others Aren’t

There are enough media and realty pundits talking about a real estate market crash in New York soon. CNBC called from one back in the spring, but it’s not happening. Prices in Manhattan, Brooklyn, Queens, have kept rising slowly.

A Tale of Two Markets?

It’s softening in the high end luxury sector where DOM is lengthening and prices have dropped almost 1% during 2016 according to one report. But demand at the lower end has stayed strong.




New York State Realtor Association is Optimistic

lawrenceyunNYSAR reiterated NAR Chief Economist Lawrence Yun’s keynote speech at the 2016 REALTORS® Conference & Expo in Orlando, Florida. Yun explained that younger buyers are likely to drive growth in residential markets in the years ahead as the economy stays on a positive track and interest rates stay relatively low.

Here’s the 3rd quarter market report from NYSAR. New listings are down from the previous quarter, avg/med prices are up and number of months supply has dropped 29%.



Here’s an exerpt from NYSAR’s latest new report:

“Looking ahead, the modest closed sales increases in September and the third quarter may signal that the continued decline in available homes is starting to impede closed sales growth,” MacKenzie said, noting the 20.7 % decline in homes on the market at the end of the third quarter compared to the same period in 2015. “Buyers, who are trying to take advantage of otherwise favorable market conditions, are finding fewer choices available to them causing them to delay the purchase of their next home.”

The year-to-date (Jan. 1 – Sept. 30) sales total of 95,453 was 11% above the same period last year. There were 38,629 closed sales in the 2016 third quarter, up 2.8% from the 2016 third quarter total of 37,575. September 2016 closed sales increased 2.1%compared to a year ago to reach 11,780.

newyork-housingstats-3rdquarter2016

 

The New York Building Congress Forecast 2017 to 2018

Calls for $127.5 Billion in Total Spending Through 2018. 2016 was a record year for housing sales and jumped past the $40 billion mark for the first time. NYBC also forecasts a total of 147,100 jobs in NY’s 5 boroughs in 2016, an increase of 8,900 jobs from 2015 but will fall a few percent to 142,600 jobs in 2017 and 138,100 in 2018.

These screen caps are from HUD’s Comprehensive Housing Market Analytis of New York City, NY. New York’s economy was rolling along nicely.

newyork-employment2015 newyork-payroll-growth2014-2015

Is that forecasted softening in employment enough to cause a crash?

The Building Congress’s outlook for new home construction is 27,000 new units and $13.1 billion of residential spending in 2017, and 25,000 units and $12.7 billion in spending in 2018. That’s down significantly from the 36,000 units built in 2015. With nowhere to live we can expect residents new and old to bid on resale stock and that should keep home prices level.

Donald Trump did make an election promise to cut government spending and tax the wealthy and that could make an impact, yet it appears private demand is what is driving the economy right now.



Removal of the Dodd Frank noose and easing of mortgage lending should create more demand for homes in New York, Los Angeles, Boston, SeattleHouston, SF Bay Area, Miami, and well, every US city. If land development regulations are eased, it will allow for more home construction and help to ease the auctions atmosphere that has rocketed them upward.

It’s a health forecast with strong demand, stable mortgage rates, looser rules on financing, and a government bent on creating jobs in 2018 to 2020. Full speed ahead.




Related posts: Housing Market Forecast | Florida Real Estate 2018Homes for Sale | San Francisco Housing Forecast | Real Estate Video | Massachusetts Housing Forecast | Texas Real Estate PredictionsStudent Housing REITS |  How to Improve Impact | How to Improve Engagement | Seattle Real Estate forecast | Boston Housing Market Forecast | Boston Homes for SaleRealtor BrandingBlockchain and Real EstateStock Market Crash DJ Nasdaq S&PLA Housing Market | Toronto Housing Market | San Diego Housing 2018 | Real Estate Agents | Sacramento Housing Market | Rental Income Housing | New York Auto Insurance | Rental Property Income Investment

Gord Collins —  I do cool marketing stuff like content reverse engineering, impact blogging, semantic SEO for realtors, and insurance companies in Los Angeles, Phoenix, San Diego, San FranciscoMiamiBoston, New York, Chicago, Toronto, Seattle, Denver, and Chicago.

Realtors: Are You Using the New RETS Technology?

Compare RETS vs FTP IDX Feeds

The first thing visiting homebuyers want to see on your real estate website are home listings.  But when they arrive, they may get a troublesome map widget to frustrate them, or mls listing pages with uninteresting and non-engaging pics and descriptions.

Add to that an ugly slow website with a poor unclear value proposition and wow, you’ve got a lead killing wonder.

What’s worse, is that your current listings aren’t indexable by Google so you’re getting no free Google referrals.  That old technology called ftp IDX is ruining your impact and engagement with your prospects and eliminating your Google search engine rankings and referrals.

Let them search quick, and then enjoy what they find. Oh and Google needs to find all the mls listings too!

What you Don’t Know Can Hurt You

The MLS Property Listings are a valuable Marketing asset — people love to view the homes. This blog post gives you a look at a resource you probably have little knowlege of — the new RETS IDX standard.  Realtors who are technical whizzes do know about the MLS database feed, and they like to keep it to themselves.

If you’re a professional Realtor hoping to keep pace in the digital era, you need to know about the new standard. You can leverage it for a serious advantage online.

Do you know another Realtor who has no website or one that’s ineffective? Please pass this on to them.




You may have heard some talk about the IDX feed at your meetings, conventions, or conversations with other agents. But there’s a distinction that’s rarely mentioned, because it’s technical and no one understands it. I want to make that clearer in this post. Not only does RETS make a technical difference, it also enables tremendous content creativity — and this is where Google traffic and improved content engagement can pull in prospects for you. Choosing the right IDX RETS provider is very important and I want to lead you to the right one.

One simple change could open the floodgates for traffic to your site.

Graphic Courtesy of cloutsoft.com

 

The Big Trend for Agents is RETS Adoption

It’s time to take a look at the RETS IDX framework and maybe decide to start using it.

What is your MLS’ IDX? IDX is the Internet Data Exchange. It’s simply a format that allows the visitor’s web browser to load the MLS listing info into the page for viewing. Yet FTP or file transfer protocol is an outdated technique which has some substantial setbacks. In today’s competitive marketplace (Google) using FTP could mean your SEO and content strategy may fail. RETS is the new solution.

Does your MLS support RETS? Find out here.

Does NAR and Realtor.com Promote RETS? Take a look at their pdf that elaborates on the many benefits of RETS.

Screen Capture Courtesy of Realtor.com

How Much Traffic can the RETS Framework Produce?

How much traffic could you expect by using the new RETS framework? With 10,000 home listings and more unique pages generated, you could have 15k to 20k pages indexed in Google.   One very successful agent I know of has 90,000 pages indexed in Google. That’s what you call a formidable Google presence.

This video from SEO RETS gives a good introduction and is one potential solution that can increase your visibility and leads using RETS.

Typical FTP based IDX data fed home listing on a Realtor’s Website

FTP IDX was the Standard

I’ve worked on quite a few Realtor web sites which used the FTP IDX standard. It required mental gymnastics to get the pages to perform in Google or Yahoo. There are hundreds of millions of MLS pages live online, but they’re barely visible, slow loading and not indexed by Google.

Sometimes Google can’t even reach them!  And I’ve worked with the iframe solution you may also be familiar with. That was the worst solution ever and agents are still using it.

While working with one client who was using the IDX FTP Framework with Real Estate Webmasters, I actually did some custom optimization, a workaround, that allowed me customize those pages. It was a powerful SEO technique, and one that Real Estate Webmasters began utilizing themselves.

But the FTP method doesn’t work well enough to compete today. The new RETS system I want to introduce you to has the full power you need to dominate the Google results and improve impact and engagement with your visitors.

Take a good look at your current content and assess whether it has awesome impact and engagement. Visitors love home listings, but they’re usually very dull.




Yes, you can use it with your WordPress site.  The end result could be career changing for any agent or broker just learning about this stuff. I’ve listed some RETS IDX site providers below. You can ask them your questions on cost and functionality.

There are web design and real estate site development companies that sell RETS based websites and this likely is the best route to go. However, don’t hire them to do your marketing. They’re programmers and web designers, not Internet content and SEO experts.

Open Up the Full Power of the MLS™ Listings

The MLS™ listings are extremely powerful if you use them right.  Combine them with blogs and your Facebook posts and you’re giving homebuyers precisely what they want.

RETS and FTP are the two formats of data that your IDX uses. FTP has no flexibility and is impossible to use creatively. RETS on the other hand offers flexibility to utilize whatever data you want to include from the MLS property listing feed.

The MLS feed is just a big spreadsheet database and you pluck whatever you like out of it into your pages. So your pages don’t have to be copies of 4000 other realtors using the same data. Your site must be unique. Google loves unique and so do your human prospects.

Most agent IDX platforms use FTP to access the listing IDX feed. This feed as it’s called is actually a simple spreadsheet or .csv file with all the listing details of the homes for sale. The data is held on your MLS server. When a visitor views a page of mls listings on your site, the page data comes from the csv file on the mls server (and you can have a copy of this file located on your server).

Pass this post on to other agents in your office.

With ftp feeds, the whole listing is downloaded rather than the bits and pieces that have been updated.  Considering the MLS feed is many hundreds of gigagbytes, the servers get bogged down. That slowness is not appreciated by your visitors who might be viewing on a mobile device. And Google and Bing don’t like the slowness either, so they’ll lower your search engine rankings.

Your MLS server too, may actually be very slow, something you can’t control, unless you get the idx feed placed on your own hosting platform.  Then you can get superfast hosting and be Google friendly!

Test Your Page Speed and Mobile Friendliness

You can check your listings mobile friendliness and load speed here: First, cut out the url of one of the mls home listings on your site. It will likely be very long. Make sure you get it all, and then paste in the PageSpeed Insights box:

Duplicate Content is Considered Spam By Google

Your MLS listing page is the same as thousands of other agent’s listing pages Google has indexed. So Google’s spam team and anti-spam filters will seek to reduce that glut of duplicate pages (duplicate content) in the search results by focusing on the top real estate domains.

Thousands of other agents may have the same listing on their site, but Google’s not going to show their pages in the search results. If they did rank at all, it might be ranked 945th. Most often now, Google won’t let searchers go down that far into the results. They’ll force the searcher to do another search using different keywords.

Duplicate content isn’t subject to a penalty, unless there’s lots of it. Most times, Google will just ignore your duplicate content and only show the top 20 or so sites with that particular “syndicated” content. Your site needs to be optimized so it’s considered the premium website by everyone.

Remember too, that with social media sharing, people won’t share something that’s not valuable and unique, looks good, and loads fast.

Does Your Site Use the FTP IDX Feed?

It almost certainly does. And worse, it does it in a plain, mediocre way that loads all the MLS data into your page. Sort of like getting your food at the mess hall kitchen. It’s slopped onto your plate, good or bad, same as all the others. It is what it is.

Why is This RETS Stuff Getting So Much Attention?

RETS has so many advantages: customization, speed, fast updates and more.

  • For developers, RETS is written in XML which provides more standardization so it can be used in endless applications.
  • RETS data can be loaded in pieces which allows you to present what you want about the listing in the way you want. The result is a listing page that reads better, is more interesting and engaging (please note that your MLS compliance board will want to approve your pages according to their compliance standards).
  • RETS data updates only the changes in the listing, not the whole database over again which saves time
  • RETS fits nicely with a customized content strategy where you can place your own optimized content into the page.

Realtyna Organic MLS Listings Optimization

RETS and SEO

Besides the page load time advantage, we can creatively select the listing information and create more pages using that data. And we can bring in unique, well optimized engaging content into the page. This increases the page’s uniqueness, something Google likes and generates more impact and user engagement.

If people stay on that listing page longer, Google sees this. Google will raise the ranking of pages that people are engaged with and return to again.

This only makes sense. Google wants good content, not duplicate content. When I optimize pages, Google considers them unique and will give the page a shot at a high ranking.

More Experty Optimized Pages! — This Just Isn’t Fair

I can create more pages and much more well-optimized pages. Some agents have as many as 90,000 pages indexed in Google. How about that army of pages competing to gather as many homebuyers as possible via Google or via social media shares?

Because RETS data can be sliced and diced to a certain degree, you can create a much more engaging and persuasive experience for visitors. You’ve worked hard or spent a lot of money on Facebook or Adwords ads so you need to increase your visitors to subscriptions and phone calls rate.

RETS gives us Content/SEO Strategists a lot of tools and flexibility to win the ranking wars, and to maximize visitor engagement. Those are 2 key goals in our quest to build Realtor leads and commissions.

If you’re still using the framed IDX solution or the standard FTP service, you should look into the RETS solution. Your website is an asset if you treat it like one.

What are the Issues you’ll face when Examining RETS IDX solutions?

  1. is the solution hosted on your website (not theirs)?
  2. who will help you customize the layout and content of your pages?
  3. do they include a high converting CRM system with it?
  4. is it WordPress compatible?
  5. can you use any WordPress template or only theirs?
  6. what limitations does their system create?

There are issues to face when you’re shopping for the best solution. Of course, you want it all and you want it right now, but I know the choices are tough and you’ll need to compare a lot and make decisions. It’s never easy to be the best!

RETS IDX Resources:

RETS Programmers/Websites: (I have one more that’s excellent, but you’ll have to become my client to find out).

Simply RETS:  https://simplyrets.com/services – WordPress plug-in and a marketing analytics add on.

Agent Evolution/IDX Broker:  https://www.idxbroker.com/compare-idx  — Geo-specific content delivery add on

RetsPro:  http://retspro.com

SEO Rets:  http://seorets.com

Ultimate IDX:   https://www.ultimateidx.com/agent/

Ultimate IDX Rets Solution — The CRM is Important Too

There’s a lot to learn about RETS IDX and how to plan, otpimize and implement.

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Seattle Real Estate Forecast 2018 Housing Price Predictions Condo Rental Prices

Seattle Real Estate Forecast 2018

Seattle Washington was rated the hottest city in America for real estate.  Migration (90,000 during a recent 12 month period), great jobs, and low availability of properties, is driving home and condo prices skyward.

Home prices were rising faster than San Francisco and the Bay Area and there’s plenty of talk of a housing crash in Seattle. With the new federal tax changes, some believe house prices will fall across the country.  So the question buyers and investors, and sellers too, is whether Seattle will be any different than the national housing trends through to 2020.

Being the home of Amazon, Microsoft, Boeing, Starbucks, Joint Base Lewis-McChord, Weyerhaueser, the Seattle region is a compelling place for business. and jobs.  The city is so prosperous and optimistic, buyers are certain to buy in the city.

An exodus of Asian and other International buyers from the Vancouver Real Estate Market has brought in an additional source of investors into the Seattle area. The forecast is for more foreign buyers taxes in Vancouver BC, so Asian buyers will Seattle, Redmond, Spokane, Tacoma and Bellevue alternatives.

Extra demand may come from Asian student housing buyers.

For rental property buyers, some are suggesting that there are still homes available in some Seattle neighorhoods. Those who know how to search for homes for sale might find that bargain.



The specter of a bubble crash is real however, so home owners would be wise to get a home evaluation and prepare to sell home for the highest price. If you’re considering selling, take a look at the best renovations to consider to generate more interest in your property.

Seattle’s job market is brisk and high paying.  The jobless rate is still 3.7% currently (up lately from 2.7%) and the $15 minimum wage rate isn’t enough to pay the rent. 50% of renters are feeling burdened by the rent they pay which may raise issues for landlords and property managers.

Seattle housing photo courtesy of flickr.com/photos/wonderlane/ Beautiful Seattle Home Seattle housing photo courtesy of flickr.com/photos/wonderlane

Strong population growth, a strong tech sector, diverse economy, educated workforce, enticing geography and diverse recreation opportunities are drawing more new residents at twice the national average. Seattle is consistently named as one of the best cities in America.

Festivities on Lake Washington

For property investors, rental income suites will be in continuous demand throughout 2018 and 2019.  For homebuyers however, the day may have passed to find an affordable home in Seattle. If that’s the case, you may want o investigation the Boston real estate market, New York Real Estate market, Vancouver Real estate market, Houston real estate market, or the Miami real estate markets.




Sizzling High Home Prices Continues

The demand in 2018 will push up sizzling high housing and condo prices and it’s raising talk of a housing bubble and crash. Experts are calling for futher growth from 2018 through 2021.

Yet is this any different than national housing forecasts for cities like Los Angeles, San Francisco, Miami, Boston, Houston, or New York?

The HappyHome Team Gives their Outlook on the market

Seattle Realtor Christie Kinneard provides a quick update of the Seattle market, and condos, and where there are opportunities. She is changing her price points on the market because luxury homes are getting expensive and it’s all scarce.

In fact, experts called for growth under 3% but Seattle has outpaced that by far.  This trend to underestimation might continue as experts aren’t getting the national trends or the demand from property investors.

Although new housing construction is growing nationwide, availability is squeezed, even in Washington State. And with a lack of construction workers, there won’t be any easing of detached home prices or rental housing here. And with some Asian and other foreign buyers being locked out of the Vancouver housing market, they’re finding Seattle is a great place to park their money.

Zillow’s Predictions

Zillow predicts home prices in Seattle will rise by 6.2% in 2018 and average home prices will hit a lofty $702,000 by the end of the year. With multiple offers the norm, sellers won’t need bidding war strategies to get a record offer on the table or worry about the best home renovations to grow ROI.

Seattle Neighborhoods Average Home Price
East Queen Anne $821,600
Downtown Seattle $676,500
Denny Triangle $551,600
Eastlake $549,500
Capitol Hill $543,300
Westlake $513,500
Belltown $443,400
Uptown $382,800
First Hill $364,600

Metro Seattle Cities Average Home Price
Bellevue $730,000
Redmond $675,400
Seattle $592,200
Lynnwood $392,900
Renton $391,800
Kent $327,200
Federal Way $308,400
Everett $292,000
Tacoma $230,600

Seattle Home Prices fastest Rising in the US

According to a report in the Seattle Times, Seattle’s home prices have been on a scorching pace in the last 12 months.

1. Seattle +13.2%
2. Las Vegas +8.6%
3. San Diego +7.8%
4. Detroit +7.2%
5. Denver +7.2%
6. Portland +7.2%

The Seattle market is hot so the question is whether you should be buying a house or renting an apartment? And is the right time for property investment?  Zillow reports that nationwide, there are 12% fewer homes available than last year.  And this past summer, homes for sale fell 21% from 2016.

Rents have skyrocketed accordingly. The current average rent price in Seattle is over $2600.

Housing 2018: Boston Real Estate 2018 | Miami Real Estate 2018Homes for Sale | Apartment Rentals Bay Area | Toronto Real Estate 2018 | Houston Real Estate 2018Los Angeles Real Estate 2018 | San Diego Real Estate 2018 | New York Real Estate 2018 | 2018 Housing Market Forecast | Will the Stock Market Crash 2018?Lead Generation | Lead Pospecting Tips | MLS | How to Hire A Real Estate Agent | Real Estate Lead Generation | Auto Insurance | Realtor Branding | Blockchain Real Estate News | Luxury Vehicle Insurance | Mortgage Calculator | Best Investments 2018 | Palm Beach Homes for Sale | Should I Sell My House? | Best House Renovations 

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Real Estate Leads & Lead Generation

Spring will be here soon and you’re on the hunt for high quality buyer and seller leads looking for houses for sale. They’re online and if you don’t have a great web presence, you might still be able to leverage lead generation services or advertise on good real estate sites.

Contact me about advertising on my site. I have high volume pages that might work for you including city specific markets in New York, Boston, Los Angeles, Seattle, San Diego, San Francisco and the Bay Area, Toronto, Calgary, Vancouver, Miami, and Florida, Houston. (1 million visitors per year)

Good Exposure for $200/month for Realtors on the Move.

 




Companies which specialize in attracting real estate leads are known as lead generation companies. They advertise houses for sale and other remarketing advertising on Facebook and Google Adwords along with blogs and news sites to cull leads. They promise to rid you of the advertising and prospecting work and accelerate the lead generation process.

Unfortunately, when scraping for leads this way, a lot of poor quality leads are served up to participating Realtors. And the terms of the arrangement may not be attractive.

If it worked, who wouldn’t sign up? Well, nothing’s ever that easy. So let’s take a closer look.

Realtors from BostonMiamiLos Angeles, Houston, San Diego, SeattleNew York,  Vancouver and Toronto are wanting something better. Is it too good to be true?

Buyer sand Sellers. Find Good Real Estate Leads Fast!

There’s nothing wrong with fast, if it’s real. It can happen, and you shouldn’t be afraid to spend. Here’s 20 top lead generation services with a look at their strengths and limitations.



 

Leads Generated Still Need to Be Converted

This post is an exploration of 18 of the top online real estate lead generation companies in the US and Canada. And 2 more including Zillow Leads.  There’s more new lead generation startups arriving every week.

Acquiring leads this way won’t hurt, however converting leads has a lot to do with brand image. Even if they agree to work with you right away on the phone call, they will Google you online and visit your website. Who wouldn’t? Trust, transparency, responsiveness, and proven competence are what motivate them.

There’s no doubt you can sign a client right away, however you probably need to take a hard look at your online presence and ask yourself whether you like what you see. Would you hire you?




Real Estate Leads Fact Number 1  — 90% of Home Buyers Go Online

90% of home buyers go online, and you need to be in front of them and number one in your Zip Code.  Home sellers are there too checking out comps and searching using keyword phrases such as home selling tips, best return on home renovations to homes for sale + cityname, to bidding wars and best real estate agents. They’re doing hundreds of millions of searches using Google, Zillow, Realtor.org, Yahoo, and thousands of other websites.

Make sure you’re highly visible on Google for all of them. Set up an amazing new mobile friendly  IDX website, with outstanding, professionally optimized content, use some real estate videos, and do a little pay per click advertising.  Build a strategic plan, then work the plan.

With spring markets so inviting in Los Angeles, San Diego, Toronto, BostonHouston, New York, San Francisco, Seattle Phoenix, Charlotte, and Miami, you’ll want to maximize your presence now.

Sharing is Good for your Social Health 

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Who are Lead Generation Companies? 

These are firms who provide buyer (or sometimes seller) leads for realtors, using methods of aggregating online prospects (most often via Google Adwords or cheap ad networks) which they then sell to realtors. 3 drivers promote the growth: a lot of prospects are online, home buying is in a frenzied state right now, and the fact there is only one home sold for each realtor in North America — there are too many realtors and most have few quality leads.

agents-6 deals or less
Realty agents in the hot Toronto market face the same challenge as those in other US and Canadian cities

 




 

Questions: Let’s assume they can generate solid leads.

  1. do you have the patience and skill to nurture and close these types of leads?
  2. do you have a website that can help convert them?
  3. what is the real cost of doing business with them?
  4. would a luxury home owner from your target community use their websites?
  5. can you respond to these cold leads fast?

Here’s Some Leads, but Let’s See You Try to Convert Them

The way these lead generators collect leads may be why they could be of poor quality. Ad campaigns, auto-dialers, and sketchy email lists of people make for testy, suspicious prospects. And these are someone else’s leads — they initiated them, which takes the warm and fuzzy out of it. Anything transferred from one person/company to another loses something in the process – the problem is lead quality and lead conversion.

Some realtors say these leads are hard to close while others treat them like flies at a picnic.  They’re basically cold calls and the prospect knows nothing about realtor’s brand image or honesty. And how do real agents and brokers feel about lead generators?

I’ve never found an online lead generation system worth the investment. Better to cut out the middle man (Internet) and just get out there and meet… people! — John Souerbry, Agent, Fairfield, CA —

I have never bought a lead. I don’t think that is the way to be successful in this business.  You need to spend your money developing a strong internet presence. — Carmen Brode, Agent, Scottsdale, AZ

It’s very expensive to purchase online leads. I’ve paid as much as $4,000 per month, but today I spend about $500 monthly. — Brian Talley, broker-owner, Austin, TX

Here’s 18 of the most visible lead generation companies onlinealthough new ones are coming. I’m leaving out realtor.com, and Zillow Leads because they’re more like Google or Facebook advertising programs. Some are well known while others are regional or startups. They all seem to be missing the vital component that creates genuinely good deals (in your target Zip Code) – the ideal customer experience from beginning to end.

The Good and the Bad about Paid Lead Generation

With some of them, the fees are low, sometimes only $20 a month and other times a little high, but almost never outrageous. For most, it’s like playing the penny slot machines at the casino. There’s a chance you could win, but is the payout worth it?

A few of the companies you’ll see below actually have you set up an account to be available for leads. Sort of like realtors sitting around a poker table. If you don’t respond fast, the lead is sent to someone else. In other cases, you will have to “buy your territory.”  The lead gen firms will push you in that direction once they have you on the hook.

Before you hire a lead generation company, consider how home buyers and home sellers themselves buy and sell a condo, home or property. They likely already know a local realtor or they’ll go to Google to search.  So online is a great place to be to lure the prospect away from his/her familiar agent.

Real Estate Search: Prospects begin with Google even though they could go directly to realtor.com or realtor.ca for MLS listings in their Zip code, or a major brokerage website such as remax.com, sothebys.com or kellerwilliams.com. Google has a better brand, a better search experience, and it leads to realtor’s websites or phone numbers where they can begin a trusting relationship with that agent.

Few condo or home sellers would type their personal details into the text box of an unknown website. And buyers are normally pretty cautious too. They want to get to know the realtor, so they’ll Google his or her name and if that discovery experience is unsatisfying, it dampens their spirit. That’s why it’s a good idea to be online in a good way – i.e., a great realtor brand image — an image built on prospects needs and preferences.

Google Adwords is the Lead Generator’s “Go to Source”

Google Adwords and remarketing programs could capture some good leads online.  The highest quality leads will often originate from Google.  However, most realtors could do this advertising themselves assuming they have a website with lead converting webpages. These programs are just a normal part of what a real estate digital marketer would offer along with lasting, sustainable, marketing assets.

Would I recommend using the lead generation companies? If they’re very cheap you probably don’t have much to lose other than your time, yet you could get distracted and fail to put 100% into your career. If you’re bright, you may learn a little about how they generate and convert leads.

Top Real Estate Lead Generation Websites

1.     Bold Leads – Bold leads advertises on unspecified networks to capture leads and direct them to you. If the lead doesn’t give away info, boldleads will continue to nuture the lead for you. You are given your own landing page on the boldleads site.

Bold Leads
Bold Leads

2.   Agent Locator – tells you straight they’ll conduct your ppc advertising and generate 480 leads for $6000. I like how they’re open about it. It may be worth gambling $6000 to try it out.
realtyleads3

 

3.   Market Leader – Aggregates leads from their own site called homevalues.com, Trulia.com, and via ppc advertising. Market Leader guarantees they won’t sell the lead to another agent. You get to manage it all from your “Pro” account.
realtyleads18

4.    Point2Homes Leads – offers low priced straight forward advertising options on its website where prospects arrive to search for a home. They also provide you with a webpage on their site.

5.    Real Estate Pipeline Leads – Real Estate Pipeline Leads says it has a network of real estate sites where it draws leads, and it gives realtors full ownership of their territory, although the size of that territory isn’t explained. Drip email campaigns are a big part of their service. Their basic package is $1164 for 12 leads.

 

6.   Agent Pronto Leads – Agent Pronto is different. There’s no upfront charge for leads! You will only be matched to referrals who have specifically requested to speak with an agent. They match each referral with a single agent that they believe is the best fit for their needs. Once you accept the referral, they provide your with the prospect’s full information and the details from their conversation with them. Sounds good. Their site looks a little lacklustre, but give them a good look.

7.   South Florida Real Estate Leads – This firms specializes in south Florida leads. They say they have a variety of sources of leads. It appears to be owned by Lex Levinrad who is a real estate coach and owner of the Distressed Real Estate Institute™

offrs-territory8.   Offrs –  Offrs uses vague sounding smart technology to find homeowners who are going to put their house on the market. It’s based on predictive algorithms or just social listening perhaps. If it works, it would be very exciting technology.

Combine that with communications that encourage homeowners to actually sell the property and that could be very powerful, particularly right now in places such as San Francisco, Los Angeles, Miami, Toronto and Vancouver where prices are very high.  They list by territory, but sadly your territory or Zip Code may be taken.
realtyleads7

9.  Trulia – Offers a service for seller leads with Market Leader, a company that was in severe trouble before the purchase. Trulia is no Zillow, but it does have some traffic.

10.   Prime Seller Leads – Prime Seller leads creates a bunch of pages on their site for you. The CMS offers the ability to send epostcards and eflyers and their system integrates with many broker CMS.
11.   eRealting – eRealting doesn’t sell leads, they give you a website to send all your traffic to! It’s kind of a CMS for rent. They state that it costs about $300 to create a client in their solution.

 

12. Lead Galaxy – Lead Gives you a home for your leads and uses the usual combo of Adwords, Facebook ads and telephone prospecting to create leads.

 

13.   Experian – Experian is a research and statistics business who have mailing lists of potential buyers and sellers. You can build your list online.

14.    Exact Data – Exact Data gets its lead list from telemarketing, opt in emails, and lists of prospective buyers and sellers. They claim superior data hygiene, however most list companies promise that.

15.    Commissions Inc. Lead Platform – Commissionsinc claims they are the #1 Real Estate Tech Solution. They offer a platform and an app to manage your leads.  They will run your Adwords and Facebook advertising campaigns for you. Sounds like a lot of noise. The value proposition is a little flaky.

 

16.   Firepoint Realty Leads – Firepoint says they deliver scalable lead generation with intelligent routing, to automated lead follow-up and task scheduling, to ROI and conversion reporting for all of your lead sources. The price is $350/month and you set you PPC budget which they manage. Is this better than a self-directed digital marketing program?


17.   Home Value Leads – Home Value Leads offers a CMS system for $59/month.
realtyleads16

 

18.   Refindly Seller Leads – REfindly helps you generate, engage, and convert leads using one convenient system. They claim that historically, their agents receive between 5 and 8 leads per $100 spent in advertising. You can spend as much as you like on ppc advertising and they give you a lead management system to use.

 

At the end of the day, it all comes down to leads and sales, dollars and time. I must say, I like Agent Pronto, and Offrs best.

Even the best lead generation sources and sites can be a negative if you neglect to build your own Internet presence and realtor brand image. People want to do business with those they know and trust.

Should getting known and trusted be your Job #1 in 2018?

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Real Estate Lead Generation Company in Los Angeles, Phoenix, Denver, Seattle, Chicago, Boston, New York, Dallas, Houston, San Antonio, Austin, St Louis, Minneapolis, Green Bay, Charlotte, Tampa, Miami, Orlando, Toronto, Vancouver, Montreal, Ottawa, Oshawa, Hamilton, Newmarket, Richmond Hill, Oakville, Calgary, Kelowna, Mississauga, Anaheim, Beverly Hills, Malibu, San Diego, San Francisco, San Jose, Fresno, Santa Clara, Sacramento, Mountainview, Palo Alto, Portland, Washington, Atlanta, Irvine, Nashville, Sunnyvale, Salt Lake City, Riverside, Rancho Cucamonga, Costa Mesa, Thousand Oaks, Simi Valley, Raleigh, Albuquerque, Glendale, Oceanside, Long Beach, Huntington Beach, Carlsbad, Santa Clarita,  Henderson, Mesa, Temecula, Kirkland, Redmond, Kansas City, St Louis, Stockton, Scottsdale, Palm Springs, Indianapolis, Columbus, Colorado Springs, Fort Worth, Chula Vista, Escondido, Santa Monica, Miami Beach, and Honolulu. Find a Los Angeles Real Estate Agent who  has the very best real estate marketing wizard to help you sell your home for more.

Houston Real Estate Market Forecast 2018 – Texas Housing Predictions Woodlands Pasadena Baytown Bellaire Sugar Land Pearland TX

Houston Real Estate Market Forecast 2018

Homes sales normally recede as late summer and fall approach but the devastation of Hurricane Harvey plunged the Houston Real Estate market in 2017 much deeper than normal.

2017 was a year of big weather events including the California wildfires and the Miami Florida Keys Hurricanes.

Hurricane Harvey Flooding. Courtesy of PBS.org

Harvey reportedly flooded about 114,000 homes totalling $29 billion in real estate. That is 6.7% of the local market, and may have affected as much as 14.2% of the housing stock in the Houston area, according to Ralph McLaughlin, chief economist at Trulia.com.



Fortunately, the worst is over and the Greater Houston Area is recovering fast and the forecast for 2018 is positive for more growth (estimated 2.8%).

It can take months to a year to recover from the damage typical in hurricane and flood ravaged areas. Houston seems to be very resilient.




In fact, Houston is one of the healthiest housing markets in the US now, with damaged homes coming back on the market and all housing related personnel and resources back in action. The average price for a detached house rose 2.7 % to $285,858 which is a new record for the month of October.




October sales of all property types in Houston totaled 7,614, an increase of 6.6% more than October 2016. Total dollar volume climbed 10.8 % to $2.1 billion.

Houston Not Like Other Housing Markets

What’s unusual about the Houston housing market is how low priced homes have not sold well, yet high priced homes $750,000 are in demand. That contrasts with  New York, Miami, Los Angeles, San Francisco Bay Area, and Boston and the housing market in Florida 2018 where high priced homes have waned. In fact, luxury homes have dropped in Calgary, Toronto and Vancouver up in Canada as well.

Hurricane Harvey has stimulated the construction and home rehabiliation sectors and has generated heightened demand for leased properties and property management companies in the Houston area. The Hurricane flooded homes and displaced thousands of home owners and renters.

Cindy Hamann HAR Chair Person describes the Houston market

Leased Property

Demand for lease properties in Houston stayed strong in October. Single-family home leases rose 13.6% while townhome/condominium leases rocketed 34.8%. The average rent for single-family homes rose 2.8% to $1,776 while the average rent for townhomes/condominiums increased 2.9% to $1,533.



Houston’s market rebounded in September and it’s continued into October

Infographic courtesy of communityimpact.com

In Woodlands TX, the recovery continues as well. Enjoy this infographic report from communityimpact.com about the Woodlands market in November.

 




What’s the Forecast for the Houston Housing Market for 2018 and beyond?

A bloomberg reports says it well: “Far from declining, prices and rents are expected to rise given the sudden housing shortage. Out-of-state investors have even started to swoop in to acquire damaged homes to repair and sell or rent.”  “It’s one of the few cities that’s been fast-growing and relatively affordable. That’s going to change now,” said Nela Richardson, chief economist for Redfin.

The new economics of Houston will take hold. Research reveals that  hurricanes typically raise home values for 3 to 4 years, so there’s no reason to expect any change. In addition, Houston has been home to immense sprawl creating very cheap housing but that access to cheap land may change.

Pre Harvey forecasts were of growth, and post-Harvey, Houston may have one of the strongest markets going into 2018 and 2019.

The Houston-The Woodlands-Sugar Land metro area reportedly created 43,200 jobs in October, according to the Texas Workforce Commission – the largest singlemonth job gain on record.  This job and economic strength will drive home sales and draw in more workers from other states and cities.

With the price of oil rising slightly, the Houston economy looks poised to excel in 2018.  Rents andhome prices will rise. And if billions were knocked off Houston property values, that’s about to get recovered in 2018.  The situation might well be the same for Los Angeles real estate as the fires go out and rebuilding begins in LA County.



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Boston Real Estate Market 2018 ⌂ Home Price Forecasts Boston MA Metro Newton Cambridge Quincy

Boston Real Estate Market 2018

The housing market in Metro Boston is back on track and looking healthy for 2018.  A number of factors are driving this recent growth. The prediction is that prices will rise in 2018 as they will in most of the US housing market.

The reason for the unusual late season surge is due to a big pent up demand from homebuyers and plenty of foreign real estate investors. Low mortgage rates, a strong economy, and the inventory of homes for sale is bolstering sales.

The 1,101 single-family detached homes sold in October 2017 was the fourth highest sales total on record for the month and was a 14.3 percent increase on the 963 homes sold in October 2016 – GBAR report.

Home prices in Boston in October according to GBAR rose 8.2% and condos rose 6.6%. According to Zillow, home prices are forecasted to climb another 5% in 2018.



Home prices grew 3.1% over the last 12 months in Metro Boston and 7% in the city of Boston itself. NAR reports the average home price was $633,000. Zillow has the average detached house price at $544,000.

As the graphic below shows, prices have been rising fast since 2013. The trend looks the same for the next 12 months based on housing constraints, demographics, and a positive economic forecast.




This chart below courtesy of Realtor.com shows home price growth in Boston’s largest communities.

Town Avg Home Prices Average Home Price 2014 Forecast Price end of 2108
Newton $895,200 $723,000 $978,000
Cambridge $669,200 $515,000 $746,000
Somerville $559,200 $427,000 $622,000
Boston $504,200 $406,000 $584,000
Quincy $393,600 $330,000 $431,000
Lynn $276,900 $227,000 $335,000
Lowell $240,800 $200,000 $267,000
Brockton $232,600 $186,000 $272,000
Lawrence $218,000 $176,000 $254,000





Take a good look at this heatmap of rental prices, and it might give you a good idea of home prices as well. The further you go from Downtown Boston, the more likely you are to find affordable homes. Be forwarned of Boston’s congested, time consuming commutes to which I can attest are as bad as any.

Boston Home Prices Not all That Severe Compared to California

Too many reports have it that Boston’s real estate is extremely unaffordable, but take a look at prices in Los Angeles, Washington DC, and New York. Compared to the Bay Area and LA Home prices, Boston’s real estate looks very good, even for buyers.

See what’s happening in southen US cities: Miami Real Estate forecast , San Diego Housing forecast, and the Houston Real Estate forecast for 2018. And compare to the super hot city of Seattle Wa. Who is going to win SB52? SuperBowl 2018 Predictions.

Investors might want to review properties outside of Boston city such as Easton, Lawrence, Worcester, Lynn, Salem, Stoughton, Framingham, Brockton, and Dedham. They’re nice communities and there’s plenty of property to build on.




However, it looks as though home prices are about to rise in Boston. So the questions: “should I buy a house?” or “should I sell my house” in Boston aren’t easy to answer. To help with a sell decision, see the post on selling tips and on best renovation for ROI.

What Supports the Boston area Economy?

Boston has a strong regional economy bolstered by transportation, tourism, financial services, and increasingly venture capital. Boston is becoming the Silicon Valley of the north with major influx of funding for startups in FinTech, MedTech and EduTech. Ultimately, all decisions to buy a home in Boston relate back to the US economy, US housing market, and the Massachusetts economy.

Boston’s Powerful Economic Engine

Boston’s economy is a power house yet restrictions on immigration will retard its output. Retiring babyboomers (although many are continuing to work) and a full employment situation mean growth will be constrained by a lack of workers, including skilled workers from other countries.

It’s good news for workers in other cities and states who need jobs. If you can find somewhere to live in Boston, you should have little trouble finding a great job.

Employment and Wages in Massachusetts Will Rise in 2018

Good news for workers is that wages are expected to grow 4% which will result in higher home prices. The unemployment rate will fall to 3.7%. Higher costs for wood will push home prices up further. A good strategy might be to buy soon because all factors point upward.

The real estate market et al, is expected to grow 2.2%. All of this will heat up the Boston market making housing more unaffordable. And just like California, workers will be willing to relocate further from the city to buy what they can afford. And Millennials do want to buy homes or condos with their growing wages.

Finding a Home In Boston’s Many Neighborhoods

If you’re thinking of a move to Boston, you’ll want to scout out the most affordable neighborhood for you and your family. Prices vary a great deal. NAR reports these recent prices:

Area Units For Sale Units For Rent Median
Listing Price
Back Bay 172 324 $1,499,000
Beacon Hill 70 98 $1,200,000
South End 186 226 $1,295,000
Back Bay East 85 148 $1,550,000
Downtown Boston 100 165 $1,125,000
Brook Farm 64 31 $619,000
Back Bay West 52 118 $1,399,000
North End 59 104 $849,000
Telegraph Hill 61 105 $679,000
Columbus 74 82 $1,380,000
Washington Park 26 23 $549,000
City Point 60 74 $839,000
Columbia Point 56 89 $569,900
Shawmut 70 79 $1,399,000





With the Boston housing market looking so good for 2018, and with employment/and economic strength so positive, it might be a no brainer to move to Massachusetts in 2018.

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Miami Real Estate Forecast – South Florida Housing Market Spring 2018 2019 Predictions Sales MLS Listing Data

Miami Real Estate Forecast 2018 2019

The spring 2018 forecast for Miami and most of South Florida is very good.  According to the Miamirealtor.org, the spring outlook is bolstered by a strong US economy, growing tourism,  and strong employment.

Hurricane Irma is history and the rebuild is still underway and after the current lull, the growth will continue. And given a strong economy, rising wages, and that Florida’s no tax status is still alive, buyers and investors will find value in buying Florida real estate. See the Housing Market in Florida 2018 report.

According to Zillow, the average price of a home in Florida should rise to $221k by end of 2018 and the average price of a detached house will be $230k. Condos are forecasted to rise to another price to $169k. Compare these to home prices in Houston, home prices in Los Angeles, home prices in San Francisco, and home prices in Seattle, and you can see homes in Florida are a relative bargain.

After this winter and spring’s price dip, luxury home prices should rise back to an average of $392k.  In December, the market for condos and homes in the Miami Dade & Broward County region remained a little flat, although house prices have risen 7%.



October Sales: Miami existing condo sales increased in October and luxury home transactions posted double-digit gains as Miami real estate returned to normalcy after Hurricane Irma-related tree debris and power outages delayed inspections, appraisals and closings the past two months, according to a PR report from Miami Realtors.

The number of single-family houses listed fell 4.8 % (307 units) in October to 6,152 homes last month. New house listings fell 9.3% and those offered at less thatn $250,00o dropped severely.  That spells a housing shortage.

The number of condos for sale rose 5.6% to 15,222 listings during the same period in 2016.



Rental prices have been falling, so real estate investors will have to look harder to find good performing properties in Miami. The market for high priced luxury condos in Miami is suspect, just like it is in many luxury markets.  Moderately priced properties continue to be in high demand.

It looks like a buyers market for condos in Miami Dade County. This graphic below might tell you a lot about condo availability here in Miami.  This might be the time to invest in a Miami property.




The trend nationwide of course is to rising house prices due to constrained availability. The latest US housing report shows consistent strength in all major housing markets. San Francisco, the Bay Area and New York have lead the way with strong rises. Miami, Florida placed 9th in prices in the US, according to a report from Zillow.




The Miami housing market for 2018 and 2019 buyer profile are very similar to what you’ll see in the Boca Raton South Florida real estate market forecast.  Recent events have affected foreign interest.

The biggest event here to affect buyers, and therefore prices, is Hurricane Irma, and several other hurricanes that passed through.  If we’ve seen the worst of the impact, then housing is likely in for a good period from 2018 to 2019.

There was a lot of doom and gloom talk about the hurricane’s wiping out the South Florida economy, but it looks like they’ve already been a boon to it.  Perhaps money has been diverted from buying new and resale condos to reconstruction of homes in the greater Miami area?

Worried about the jobs outlook?

“After analyzing 52,866 job postings from Miami, Tampa, Orlando, etc., we found that not only has hiring rebounded it is actually surging dramatically beyond normal 2017 demand for at least 13 kinds of jobs,” said Kushal Chakrabarti, co-founder and CEO at TalentWorks of Berkley California. – from report floridapolitics.com.

Home Sales Prices Levelling Off

Home prices have consistently risen over the past year. The momentum look strong. Screen capture courtesy of Miamirealtors.com

On the other hand, a big decrease in cash sales show a traditional type of buyer is missing from the market right now.



Miami – Good Time to Buy?

Is this a buyers market?  2+ bedroom condos are decreasing in price and rents have fallen 1.5% in Miami. Contrast this with condo price increases of 8% to 9% in Washington DC, San Jose, and 13% in Denver Colorado and you have some perspective. Prices in Honolulu, Houston, and Chicago have plunged in comparison.

The real estate district of Miami includes the communties of Coral Gable, Cutler Bay, Doral, Homestead, Brickell, Medley, Miami Springs, Palmetto Bay, Pinecrsst, and Sweetwater. It doesn’t not include Fort Lauderdale which is a separate MLS board.

Check out the neighborhood profiles on Neighborhood Scout. They include price appreciation, demographics, and more for Miami’s best neighborhoods and all the districts.  Very helpful.

Looking to buy a condo or house in the Miami area? The typical buyer of homes in this region come from around the world, from New York and Toronto, to Dallas and Houston, to Dubai, Singapore, Beijing, Hong Kong, Sao Palo, Rio De Janeiro, to London UK. A good portion of buyers emanate from Venezuela, Columbia, Argentina, Brazil and Canada. Colombia consumers are mosted interested in Miami real estate this fall.

According to Miami Realtors.com, interest in Miami is strongest from buyers in

  1. Charlotte, NC
  2. New York City, NY
  3. Atlanta, GA
  4. Chicago, IL
  5. Los Angeles, CA
  6. Houston, TX
  7. Dallas, TX
  8. Auburn, VA
  9. Boston, MA
  10. Simi Valley, CA




NAR reports that almost 40% of residential property is purchased by foreign buyers.

Buyers Forecast 2018: The Miami’s Herald’s buyer survey revealed the buyers forecast that residential home values will fare over the next 12 months, 36% believe they’ll rise, a third think prices will remain flat while 21% believe they will depreciate.

You can discover more about Buying in Miami via the Buyer’s Survey from Miami Herald

Graphic courtesy of the Miami Herald

The Miami Herald undertook an informative survey of buyer attitudes and the opinions definitely point to the buy side.

Miami’s beauty, incredible climate, business opportunities and proximity to Europe and the Caribbean make it a key position in International business and trade. With condo prices subdued currently, now may be the time to pick up a bargain before prices rocket again.

Book mark this post and return next month for another update.



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Federal Court Rules Against Toronto Real Estate Board – Toronto Mississauga York Region Durham Peel

Federal Courts Rule in Favour of Anti Trust Legislators

The Federal Court of Appeal has upheld an April, 2016 decision made by Canada’s Competition Tribunal. It has ordered the Toronto Real Estate Board to allow its members to share the sales histories of listed properties online.

This ruling relates as well to the incoming opportunities of Blockchain technology in real estate. What’s at stake is the all important client and property databases.

TREB has always contended that its first priority is to protect homebuyers data and privacy. It seems the courts didn’t buy that argument. This isn’t an isolated war in Canadian markets and courts. REBGV in Vancouver is fighting to hang onto its data too.

From the ruling: “The tribunal made no error in finding that TREB engaged in an anti-competitive practice and that this practice had and will likely continue to have the effect of preventing or lessening competition substantially in the (Greater Toronto Area).”





Whether this is good news or not so good news depends on who you are. It’s certainly good news for online real estate service businesses. They can improve their services with this open data source. TREB’s 45,000 realtor members may feel this is a threat to their own businesses who benefited from stifled competition.

It will create a further evolution in professional real estate sales. Agents and brokers will have to be smarter, more effective, and create a better presence online. The new market will move from Realtor intranets to the Internet and smartphones.

TREB is appealing the ruling and hoping to stay the order that allows immediate release of the home sales information. It’s a small win for some, but eyes are on the future, where more of the TREB data can be released and reported on.

Without accurate, up to date housing data, it is very difficult for service companies to do business in Toronto Real Estate. TREB has almost monopolistic power in an era that is demanding access to market data.




In a Toronto Star Report,  the governments’s commissioner of Competition, John Pecman says Friday’s ruling is an important win for competition and consumers.

It paves the way for much needed innovation in the real estate industry,” he said in a statement about the case has been going on for six years.” – from Torstar new report.

Realtors can now post home sales data on their websites for buyers and sellers to see.  The tribunal also said TREB must provide data such as sales figures, pending sales and broker commissions, which might be embarassing situation for some.



It’s All About the Housing Data

Although the argument seems to be about the release of the actual sales price history of homes, it may actually be more about control and the rest of the data in TREB’s gargantuan database.  Although TREB wants control of the data, which could mined for incredibly business value, it looks like they are losing the battle.

Perhaps TREB should go with the flow on this one and charge a fee for it? Even if the data is the property of TREB, the ruling shouldn’t prevent TREB from selling their data. If there are privacy issues regarding the data, then the Federal Government may be held liable for releasing it.  Homeowners themselves were likely lead to believe their property and personal information would be protected and private.

Sounds like a legal can of worms.

Some wonder if it’s a sad state of affairs if a Realtor’s only value proposition is as a gatekeeper to the data. That data has immense valuable to a lot of investors and home buyers. Previously, only Zillow had this type of housing sales data. The release of TREB mls data may be a nail in the coffin for Zillow.



It is likely new businesses and business models will evolve as a result of the ruling. Smaller businesses can jump on it right away to offer enhanced services online, but other large scale, Zillow, Zolo or Zoocasa enterprise level businesses will likely have to wait until the matter is fully settled in the Supreme court.

We’re in a data driven business world, and until now, the housing data was contained. Now with that dam bursting, it opens up many possibilities for entrepreneurial startups in the real estate sphere.

For real estate agents, the news is likely not a good one. Agents will now have to work much more effectively at building new real estate leads, holding onto old clients, and revamping the power of their own realtor brand image.

The release of this immense database will open up all sorts of entrepreneurial opportunities and range of services by real estate marketers of all types.  The Canadian markets are opening up open market models you see in the US.




Are you looking for the latest Toronto real estate market outlook, Mississauga real estate forecast, Vancouver real estate forecast, or the Calgary real estate predictions?  See also the Toronto condo market forecast and Vancouver condo market forecast.

 

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Apartment Rentals in Toronto ⌂ Toronto Rental Market Prices Rise Fast – Toronto Mississauga Brampton North York GTA

Toronto Apartment Rental Prices Haven’t Dropped

While housing prices rise and hopeful homebuyers in Toronto and Vancouver complain about the housing crisis apartment rental prices in Toronto.

And then there are those who don’t have the strength to get up off their sidewalk grates and jump for joy about the latest government program announced. What really is ridiculous about this is that our government is squeezing housing supply raising housing and apartment rental prices and then dressing themselves up as some kind of superhero.

Federal Government’s view of Millennial homelessness? Comfortable and hydrated

Amost on cue, jumping on the housing crisis easy button is our Prime Minister Justin Trudeau. With tired, worn out solutions pulled from history books, Trudeau is planning to spend $40 billion over ten years. He made the announcement during a recent photo shoot for media.



The forecast is for higher rents, more homeless people, more social problems, and stressed low wage Canadians occupied more with staying alive than helping boost Canada’s GDP. And our growing numbers of foreign students will wondering whether Canada’s lack of student housing should make them choose the US instead.

According to Covenant House, “over the course of the year, the number of young people who spend some time homeless in Canada is as many as 40,000, and on any given night, there may be up to 7,000[1] homeless youth.”

Toronto Apartment and Condo Prices Rise

Prices for apartment rentals in Toronto are heading toward heights you’d normally associate with New York, Los Angeles or the Bay Area of California. Yet, they have much higher wages.  The CMHC’s report on rental properties shows a drop to a 1.1% vacancy rate, and it’s likely a good portion of those available units are high priced. The average rental price has risen to $1,296 per month, up 4.5 %.

“The Toronto rental market is out of control,,,And because of that, rents are shooting through the roof. You go to a showing in some parts of town, you’re going to have a lineup around the block,” said Geordie Dent, executive director of the Federation of Metro Tenants Associations  (from CBC news report).

According to TREB, the average rent for one-bedroom condominium apartments in the TREB market area was up by
11.2% to $1,976 in Q3 2017 over the same period last year. The average two-bedroom condominium apartment rent was up by 7.7% over the same period to $2,607. You can view TREB’s chart below.




As a CBC report suggests, the big issue of 2018, 2019, 2020 elections could be housing affordability, particularly rent prices.  The CBC coverage is very good actually and acknowledges the good and the bad, however not much is said about how we got in this hot water.

 

Please Share this Post about our housing crisis. It’s a serious matter.

 

A lot of voters rent. This isn’t something Prime Minister Trudeau has addressed seriously during his whirlwind, jet setting, global tours, but it’s an issue that will be waiting for him every day he arrives at his office until the election. The forecast is for a very tight election race because the only ones who might vote for Trudeau are the status quo crowd. It’ll be an interesting year coming up in Canadian politics.



Screen Capture courtesy of CBC

It’s housing, immigration, political pandering, and economic incompetence that will see Justin Trudeau leave office. Support for wages, housing and homelessness will not be coming rom foreign multinationals doing business here.

Seriously, Landlords are the Cause of Low Vacancy and Homelessness?

Incredibly, the CMHC is blaming rental increases on rogue, profiteering landlords. That seems to completely discount their brand new report of record low vacancies.  Does CMHC read its own PR??

Landlords are not government agencies the last time we asked, and they are allowed to make a profit like the Canadian banks, Ontario Hydro, etc.

According to a CBC report, Trudeau’s national housing program will focus on chronic homelessness. The government says they will manage this professionally and reduce the number of homeless by 50% within the next 10 years. Of course, half of them will be dead within 10 years, so in theory, Trudeau’s vision is sound. Mark 1 for the PM.

Tip of the Iceberg: What Might Really be Coming in the Next Ten Years





The new Federal housing program plans to spend $2.2-billion on homelessness but will delay that until the spring of 2019. That means 2 more freezing cold winters for the homeless.

To understand the issue better, let’s remember that we’re in boom times right now. If the economy falls back into recession, the number of homeless and poverty level people falling through the cracks will rise. Will billions of tax dollars earmarked be enough to deal with a recession?

What have the governments of Ontario and Canada been doing to the housing industry?  Strangling it. Only by freeing up developers and land, and creating big tax incentives will the problem be eased.

Canada’s New Housing Plan?

The new national housing plan announced by Trudeau has these objectives:

  • Building 100,000 new affordable housing units
  • Repairing 300,000 affordable housing units
  • Cutting chronic homelessness by 50 per cent
  • Protecting 385,000 households from losing an affordable home
  • Providing 300,000 households with financial assistance through the Canada Housing Benefit
  • Removing 530,000 households from housing need

The proposed housing would built over 10 years likely won’t accommodate the homeless now, let alone those who will be entering that world over the next decade.

Housing is just one aspect of a miserable problem brought on by Free Trade and globablism. Even when housed, millions of Canadians still need food, medical services, and jobs. As more Canadians plunge into minimum wages, pushed out of the workforce by retirement, foreign competitiveness, factory automation and artificial intelligence software, the picture is not so nice.



If the Liberal governments had focused on building new houses, condos and multi-tenant buildings, the pro-housing response wouldn’t have been needed. Now Trudeau’s going to plow $40 billion tax payers dollars into another band aid solution.

Screen Capture courtesy of TREBhome.com

It’s another sad act from a government that thinks it’s still 1980. Every decade, including the era of his father, we’ve had the same “government administration and red tape” programs that create crises and then pretend to solve them with expensive government programs.

Having no government at all would be cheaper and more effective. Not that we’re ungrateful for marijuana legalization and methadone clinics.

If government was out of the way, the Toronto housing market would heal and thrive. So would the real estate markets in Vancouver and Calgary.

Check out TREB’s 3rd Quarter Rental market report.

TREB REntal Market Report 3rd Quarter 2017 TREB 3rd Quarter 2017 Rental market report courtesy of Trebhome.com




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