The Future of the Real Estate IndustryAug 17, 2022
It’s August 2022. The real estate market is still in demand however it has taken a decline slightly. Housing prices are still more expensive than they were five years ago. However, they are slightly less than they were five months ago. If someone would have predicted the future ten years and told everyone to purchase as much real estate as possible because in 2021-2022 they would be billionaires then the housing market would have been what it is now. The now low real estate inventory would have been extinct had this happened. Currently the real estate prices have become inflated but what holds true is the need for housing. Regardless of how expensive the housing prices get there will always be a need for housing. This holds true regardless of what demographic you are in. Will the prices in the south ever match up to the North? Most likely not. If I said today that in five years the Alabama housing market will reach the California demand for appreciation then there would be even less of what is on the market now. With more and more housing sales being off market, the demand for realtors has decreased. The reason being is that the general public has a now mentality verses let me wait and see what offer I’m going to get. There is a big financial benefit to an owner getting a cash offer vs listing your property on the MLS. The benefit is that the investors pay all closing costs and there are no real estate commissions. It is honestly a win win for everyone. This made the switch from being a realtor to an investor quite enticing. I found that I could get better deals for my clients and myself off market verses in the MLS. This real estate path gave me the advantage over Realtors selling traditional real estate that’s because I had the inside scoop and they did not know where to start. Right now the MLS serves one purpose to me and that’s to look up tax records and recent sales. When I think about my future in the real estate industry, I’m shining bright like a diamond. It’s so much potential and I don’t want to miss out on my blessing.
Stephanie J Ford AKA She-Vestor