The expert realtors at EXIT Realty of the Carolinas in Mount Pleasant, SC, know the real estate market inside and out, and they’ve seen some big changes over the past 10 years. If you’re not familiar with the real estate industry and are planning to buy or sell a house in the near future, it’s important to understand what’s going on.
Here’s what you need to know about how the real estate market has changed over the past decade:
- Online Tools: It’s no secret that everything today seems to be done online, and navigating the real estate market is no different. Before, home buyers needed to call their realtor to preview a house for sale, but today, websites like Trulia.com are changing the way buyers house hunt. There are also real estate apps that allow buyers to go on virtual tours of homes for sale.
- Bidding Wars: Since the housing market crash nearly a decade ago, the industry has seen an upturn and buyers are more active than ever. However, real estate agents say while the number of people interested in buying has skyrocketed, inventory is limited and sellers are gaining top dollar for their homes through bidding wars.
- Mixed-Use Communities: Home buyers these days are after what’s known in the industry as “walkable communities”. These are mixed-use neighborhoods that offer housing, shops, restaurants, schools, and parks nearby. In past years, it seemed that home buyers either wanted to live in the city or the suburbs, but many today are after mixed-use communities that offer the perfect combination of urban life with the charm of a quiet family neighborhood.
- Investors Are Hungry: Since the improvement in the housing market, it seems as if real estate investors are crawling out of the woodwork. Flipping houses is currently a trend, especially in hot markets like San Francisco, Portland, and many cities in the South Carolina. Investors are purchasing foreclosed homes, fixing them up, and turning them for a big profit. The rate at which multi-family communities and shopping centers are being built has also increased in the past 10 years.
Want more details about current trends in today’s real estate market? Reach out to the realtors at EXIT Realty of the Carolinas. You can call their office at (843) 343-3947 or visit their website for more information, including how you can begin your own career in real estate.