Real Estate Headlines: Top Search Terms and Foreclosures
With a constantly changing world it’s important to check in on the news. What are the latest headlines in real estate? How do they apply to the Triangle?
CNBC researched top real estate search trends and found some interesting information. What does Angie think about the top three? For instance, a lot of people are looking at refinancing while the interest rates are still low. How low will they go?
More and more first-time homebuyers are considering buying a house. The Triangle market has always been strong for first-timers. Renting can add up, so buying can make sense. The pandemic has definitely inspired more first-time homebuyers to start their search. But is using your 401(k) to buy a house a good idea? Be sure to consider your financial future and talk to your financial advisor about these as well.
What would the top search trends likely be in the Triangle? From looking into the suburbs or moving out of a downtown apartment or condo, people are looking to invest in properties. Is it worth finding a foreclosure? Or is that even an option in our market? What do you need to know ahead of time?
An economist from First American suggested that we shouldn’t worry as much about a rise in foreclosures due to coronavirus. This time is different than 2008 because instead of the home values being overvalued, home values are rising. So, if someone needs to move out due to not being able to pay the mortgage they will have a better chance of selling their home.
Finally, is the real estate photography profession going away or about to change? Are more agents taking their own photos or using an app? Angie disagrees with this and says we need a professional. You want to make sure your home is marketed well and this includes professional photography. Remember to ask: is the potential buyer interested in house based on the photos?
Listen to the entire episode or click on the timestamps below to skip to a specific headline.
0:38 - What does the market look like right now?
2:47 - What are the top searched real estate questions?
5:24 - Is first time homebuyer interest going up?
6:59 - What has gotten more popular in the Triangle?
9:44 - Is a rise in foreclosures coming?
11:42 - What should you know about buying a foreclosure?
12:57 - Are we seeing the end of real estate photography as we know it?
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