The real estate market and its many components are constantly changing. Obviously, someone involved in the real estate industry as a professional, should have a keen understanding of these shifts. However, it is a good idea for any potential buyers or sellers to know the market they're about to jump into. Below, is an infographic chart provided by The National Association of Realtors that gives us the latest information on who's buying and who's selling, as well as their methods for doing so.
The National Association of Realtors also released a study earlier this month, the 2015 Profile of Home Buyers and Sellers, that offers some new and exciting statistics. All of which pointed to one overall trend- an older, wealthier population of buyers and sellers. In this video, Jessica Lautz, NAR's director of survey research and communications, highlights and explains these findings. Follow the link below to view the video on YouTube.
We all know the demand for housing and popularity of new, trendy neighborhoods in Philadelphia is surging. A great deal of properties in these neighborhoods are being bought up for the purpose of renting. Now is a key time for any new investors, looking to earn extra income, to grab what is still available. However, once you've found the property you want to fill it with honest, dependable tenants. This is where things can get tricky. Because every prospective rentee is a new tenant to you, it can be difficult to predict your relationship with them. Are they reliable? Are they financially stable? Will they be trustworthy, and respectful of your property? For all these reasons, it is important to screen every prospect carefully. Below is a link to an article outlining the 4 major steps to screening potential tenants.
We hope this helps any new renters/landlords in their search for a desirable tenant. We at the Donna Santore team are always here to answer your questions about buying, renting, or selling in Philly.