5 Housing Trends You Can Turn Into Cash in 2013
Growth, increase, jump – These and many other positive terms are being attached with the 2013 housing climate. And while conversations about the good “vibes” in the market are great, the more meaningful chatter is about how to capitalize on this long awaited opportunity and turn the upward trends into real cash.
Taken straight from the headlines (and a few other sources), here are five trends you can ride all the way to the bank this year.
1. More Relocaters
Recent news from the Wall Street Journal showed that one of the major fallouts of the recovery has been a serious surge in relocating consumers around the country. While still at a low, for the fourth year in a row the number of citizens moving is up according to the most recent Census data.
How to cash in:
First, you need to figure out where your locality or region falls on the relocation spectrum.
Next, start positioning yourself as the local expert online. That includes not only targeted real estate ads, but also answering real estate questions that are asked in your area on online forums.
2. More jobs for 25 – 34 year-olds
The sharpest agents I know are always looking for the next stream of revenue and wave of clients. That said, one trend I don’t think any agent should ignore is the growing wave of 25 to 34 year-olds that are inching (and sometimes running) closer to the goal of homeownership.
Recent employment numbers showed that increasingly, more 25 to 34 year-olds are working. This group saw a year-over-year of employment rise almost 2 percent according to the most recent jobs report.
How to cash in:
There are two things every agent needs to know about this group. First, this age bracket is one demographic that should never drop off our radar, as they are prime age for making housing purchases. Marketing to this demographic should never stop.
The second fact to act on is this generation’s preferences. In a world where Yelp rules, marketing effectively to this group means using online recommendations and real data. So, as an agent, that means you need to make getting and adding recommendations a part of your marketing strategy.
3. Real estate will never be boring
The next 2013 trend isn’t seasonal, but it’s critically important.
How to cash in:
The chain from a web visitor or online “liker” to client isn’t always a direct one. That’s why, this year you should capitalize the real estate trends and hot headlines to grow your exposure in front of potential real estate leads.
Share the headlines in your blogs, tweets, and e-newsletters with your own local spin. This is a great way to reinforce that you’re an expert.
4. Mortgage approval rates are up
The top worry of most buyers is the mortgage process and many qualified potential clients decide to sit out of the housing game over lending anxiety.
One great trend you can communicate that will help ease and encourage your buyer-clients is that mortgage approvals are up 11 percent.
According to mortgage expert Dan Green, “New loan programs with looser, simpler rules have been introduced and, in many cases, the steps required for a home loan approval are more simple for today’s mortgage applicants as compared to just two years ago.”
How to cash in:
Not only are approval rates up, the U.S. government has taken major steps to clear up the ambiguity surrounding the lending process. If you’re an agent who is targeting and counseling buyer-hopefuls, you need to bone up on the new mortgage guidelines released last week and connect with a local lender who can help you qualify your leads quickly.
5. New homes are hot
What’s new is well…new again. According to a late December Census Bureau report, new home sales are growing at their fastest pace in two years.
The report showed new home sales are up 15 percent from 2011. This shows that as the market recovers, more consumers are using the opportunity to go after the home of dreams.
How to cash in:
To make the most of the new home surge and generate leads, make sure you are sharing your “dreamiest” listings and content to catch the attention of these buyers.
2013 could be your best year yet, but that won’t happen unless you have a plan that includes capitalizing on the market’s hottest trends.
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