It was just a few years ago that the US was in the midst of the worst inventory shortage in history, creating fierce competition for available properties—and driving up prices in the process. And while the market has become more buyer friendly in recent months, some experts predict another inventory shortage may be on the horizon.
According to a recent article from realtor.com, new home listings are either declining or staying the same in markets across the country. If that trend continues, it could mean another historic inventory shortage. “It was only 18 months ago that the number of homes for sale hit its lowest level in recorded history and sparked the fiercest competition among buyers we’ve ever seen,” said Danielle Hale, realtor.com’s chief economist, in the article. “If the trend we’re...
In generations past, many young people have waited to purchase real estate—but Gen Z is having none of that.
According to the 2019 Spring Homebuyers Insight Report from Bank of America, 59% of people surveyed between the ages of 18 and 23 (also known as Gen Z) said they plan to buy a home within the next five years, which would make them homeowners before the age of 30. And while many Gen Z-ers will rely at least in part on financial support from their families (36% said their parents or other family members would provide financial health), more than half have already started saving for their home.
Generation Z is poised to become one of the youngest generation of homeowners in history. So whether you just graduated from college (or high school!), it’s never too early to start saving to make your dream of homeownership a reality....
Do You Need A Real Estate Agent When Buying New Construction?
If you consider buying a new construction home, there’s a good chance you’ll question whether or not you even need to use a real estate agent.
You might even wonder if there’s an advantage to not using a real estate agent…perhaps thinking you can get a lower price, or more upgrades thrown in, if the builder isn’t paying a real estate agent their commission.
Or, you just might not give it any thought whatsoever, and stumble into buying your new construction home, without having your own real estate agent to represent you.
So, do you need to use a real estate agent when buying new construction?
Should you? Yes.
Beyond Just Signing A Little Paperwork
One reason people question whether an agent is necessary, is because many tend to see it as an agent just signing some paperwork so they can get a commission....