Tom Ferry is widely known for his expertise and success in the real estate market. Here's what he has to say about the current state of affairs in the realm of real estate.
Tom Ferry is a renowned motivation speaker, author, investor, and one of the leading voices in the real estate industry. Over the years he has helped jump start the careers of thousands of real estate professionals through his events and workshops. He recently sat down with us and shared some insights he had on the current state of the real estate market:
- Home Values are Appreciating: Home values are set to annually appreciate steady 3.2% over the next five years. In 2017, this number is greater as displayed below, so it is a good time to appraise and sell if you are looking to do so.
2. Know Your Market: Denver and the Boulder Colorado regions are one of the fastest selling housing markets in the US. Nearly a third of properties sell within a month of being listed. Seattle, Oakland, Charleston, Boise, and Portland are all markets that are booming right now for sellers. Much like the stock market, know when to buy when prices are low and know when to sell when prices are on the rise. Of course, there are also personal drivers that come into play, but speaking in economic terms, this makes perfect sense.
3. Take Advantage of Low Interest Rates: Interest rates have remained at record lows during the last few years, and buyers should take note. Many families and young couples are looking to rent before buying, and while I take into account all of my clients’ needs, I advise them to look into buying nine times out of ten . The market conditions are optimal for home buying, as rental appreciation rates have skyrocketed.
- Take this valuable insight from one of the leading industry’s think tanks and apply it to your decision-making. The market is still in great shape and is forecasted to continue being so for the foreseeable future. Comment below your thoughts.