Home sellers have lots of options when is time to sell their properties, however there is no magic formula that will guarantee in achieving the best and highest price possible for their homes. This is why I like to partner with my clients to guide them through the complexities of selling their homes. I assembled a team of true professionals with experience, dedication and strong communication skills to help ensure a successful and profitable sale of your home. 

 

Today, we'll talk about Should You Rely on Real Estate Predictions to Buy or Sell Real Estate?

 

A conversation with one of my clients made me realize that real estate market predictions are notoriously unreliable. Nobody can predict what is going to happen with 100% accuracy. But we can check out what real estate experts are saying and make some guesses about the future from there.

 

A housing forecast is a prediction of future housing prices. It is only a rough guide but can be a good starting point for your personal situation and finances.

 

Know that the local area, business opportunities market growth and local economy have more say about real estate prices in general from a national level.

 

Some of the most notorious predictions that I’ve personally followed many years ago: 

 

Both Zillow and CoreLogic published economic models predicting that U.S. home prices would fall by spring 2021. That price drop never came. Instead, the housing market went on a historic run that continues to today.

 

 

 

Our current real estate position is still a seller’s market. This is not good news for homebuyers, as homebuyers will still be competing with the current low inventory as, sellers will be able to sell at a higher price due to less competition.

 

Another question I heard from many of my clients lately,

 

Will There be a Foreclosure Crisis in 2022 and beyond?

The number of foreclosures hit a record low in 2019. The number of foreclosures in the US dropped by nearly 30% from the year before.

Compounding to this,

The United States government had a moratorium on foreclosures during the crisis of COVID1 19. Now that the moratorium has been lifted the foreclosures market remain low and quiet.

 

Why?

“Foreclosures are about the value of the properties being less than what is owed to the lender”

With the record equity gains in the last 2 years, there aren’t many homeowners with equities below of what they owe to the bank.

 

Why foreclose a property when they can easily sell it (immediately) for more what they owe to their lenders?

I predict,

Take this prediction with a grain of salt,

That the number of foreclosures will be moderate for the rest of 2022 and about the same (as in a normal housing market) in 2023

 

Then again,

 

I’ve been wrong before…

 

Always consult with your real estate agent about your home inspection results and the options you have inside the sales contract that you've signed. 

 

To purchase your dream home or a great foreclosure property, is about being educated, thorough and patient with the process. The most important aspect of finding the perfect home is working with a real estate agent who is highly skilled in negotiation and understanding of your expectations!  

For more information or assistance to help you find a home in the Las Vegas and Henderson area please call us at 702–845–8540