Historically, real estate values have gone through cycles. RIS Media has a quick reference guide to some of the factors involved and advice on how to spot a turning point in the market. Things that you should consider include:
1. A spike in local sales activity
2. Higher asking and selling prices vs. appraisal value opinions for residential properties
3. More activity at open houses
4. Shorter marketing times
5. Reduced number of foreclosures and short sales
6. Stabilized employment
7. Fewer buyer incentives and seller concessions
8. New construction starts
9. “Move-up” buyers entering the market
10. Apartments advertising renter specials
Do you think we have already reached a turning point in the market?
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. How to Spot a Turning Point in the Real Estate Market is brought to you by SimplifyEm Pay Rent Online and Property Management Software
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