Help NAR recognize Fair Housing Month, REALTOR® Safety Month, and Designation Awareness Month by sharing information and providing resources to members of your association.
The Real Estate World Has a New Look As the Economy Recovers
The black cloud that’s rained bad news on the real estate market for the past four years only seems like it will last forever. Sooner or later, the sky will clear.
The long-range forecast: increasing sun but with a 100 percent chance of change.
Since the great decline in real estate values and sales began in 2006 and 2007, real estate experts and commentators have been trying to predict just what a full recovery might look like. There is general agreement that the number of sales and the values of all types of real estate are not headed back to the peak levels of 2005 at any time in the near future, even after the economy improves and the unemployment rate declines. Forecasting what “The New Normal” will look like has become a popular activity in real estate circles.
Many cities and towns across the U.S. have rules in place today that mandate that their teachers, police officers and other personnel performing core functions actually live in the communities they serve. But homeownership within city limits can be out of reach for many of the people in these positions, especially if they’re at entry level.
Some of those very same towns also have homes that were once filled with families but now sit vacant due to back taxes or other payment problems.
Thirty-two firefighters, police officers and U.S. Coast Guard members tapped into a placemaking program offered by the Michigan Association of REALTORS® (MAR) and the Traverse Area Association of REALTORS® (TAAR) that allows emergency medical providers and other first responders to live where they work.
A retrospective on the last four decades
To say that today’s housing market is marked by turbulence and uncertainty would be one of the great understatements of the past several years. Almost weekly, news about home prices, home sales or foreclosures add to the angst and uncertainty that many homeowners feel about their investment in real estate.