Home Seller Predictions 2018
Home Seller Predictions 2018 brought to you by Sally English, Associate Broker, Realty Associates of Atlanta. Sally English and the English Team specialize in homes and neighborhoods convenient to Emory University, The CDC and CHOA.
Home sellers are about to enter another strong seller market. Demand for housing continues to be strong as we enter 2018. I have my home seller predictions 2018 listed below. But first let’s grade my home seller predictions for 2017:
- There will be an increase in the value of existing homes in the first half of 2017. NAILED IT
- Home sellers who list their homes for sale in January through March will face less competition from other home sellers. Inventory is low as of December of 2017 and pent up demand for housing will snap up listings almost as soon as they hit the market in the first quarter of 2017. TOSS UP as inventory levels remained about the same all year long. Slight rise for second half.
- Home sellers who list their homes for sale in April through June will find increased competition from other home sellers. As home owners see neighboring homes get snapped up in the marketplace by quick sales they will want to get in on the action. MISSED IT potential home sellers could not find a place to move so they stayed put.
- Home values will continue to increase in the first half of 2017. Low market inventory in combination with increased buyer demand will result in inflation of values for home owners. Home prices are going up! NAILED IT
- The housing market in the second half of 2017 is largely dependent on the economic policies of the Trump administration. If mortgage interest rates continue to rise that could dampen the housing market in the second half of 2017. The Federal Reserve Bank will continue to walk a tightrope as they try to control an overheating National economy. NAILED IT but not in a way I expected. Stock market and housing market stayed strong despite a bungling Congress and President.
- Home sellers who have renovated their homes originally built in the 1960s-1980s will get top dollar for their homes. New kitchens and new baths – maxing out market value. NAILED IT and still strue in 2018.
- It is going to be tough to find a good remodeling contractor in 2017. Heck it may be tough to find a handyman in 2017. Everybody will want to do some home improvement in 2017 as they have a few extra dollars in their pocket from an improving economy. MISSED IT as there was a deeper contractor bench than I predicted.
- Home sellers with savvy real estate agents will max out the top end of the market as marketing will rule when Millenials (born 1980s-1990s) go house hunting. Millenials are buying the “perception” of a new home even if the home was originally built in the 1960s. Listen to your real estate agent if they suggest some cosmetic changes. Millenials are not looking under the hood. They don’t see your 15 year old furnace – they see your Nest thermostat. NAILED IT Got to have the cosmetics looking good for the Millenials.
- If President Trump successfully reduces the capital gains tax then all H*LL will break loose on the investment side of real estate. Any home under $250,000 in my market will be subject to purchase by an investor (look for my buyer predictions in the next post). NAILED IT
- Predictive analysis will help savvy real estate agents target home sellers through social media. NAILED IT
- Predictive analysis will help the same savvy real estate agents find a buyer for the same home seller the agent found through predictive analysis. This means many of the best homes will never be listed in the MLS before they are bought and sold. You have to work with local agents who know your real estate market for this to work to your advantage if you are a home seller. NAILED IT
Home Seller Predictions 2018
- Real Estate agents who have a comprehensive marketing plan will continue to dominate the listing of homes for sale. Fewer sellers will be willing to trust their home listing to rookie or small producing agents. Home sellers will gravitate towards the best listing agents in their market.
- Discount brokers will start to lose market share as home sellers realize it is a lot of work than they expected to sell your own home.
- Knock and other “I’ll buy yours if you will buy mine” brokers will not make a big impact in the Atlanta market. They charge huge fees and savvy sellers know they can get more money from their home sale by listing with either a traditional or discount broker.
- AMAZON, FACEBOOK or GOOGLE may enter the market as real estate brokers. This would be a game changer and all H*LL will break loose in the real estate market if it happens.
- Multiple offers will be common for homes that have been updated for the market. Stainless steel appliances, granite countertops, updated bathrooms, walls knocked out to open up views and hardwood flooring (or “new” technology flooring) will make homes built in the 60s attractive to Millenial home buyers.
- The new Tax legislation will not be a factor for home sellers in 2018.
- Social media is the place home sellers need to be when marketing their home for sale.
Call or text Sally English, 404-229-2995 if you want to be a home seller in 2017.