Recent trends within the real estate industry have taken a lot of power out of the hands of realtors and brokers. With such widespread influence of the internet and growing popularity, and ease of use, of real estate tools that are available on the internet, buyers and sellers are doing their own research and legwork that was once done exclusively by real estate professionals.
Real estate listings, valuations, and commentary are now widely available on the internet for the saavy buyer, seller, or investor to use at his or her convenience. Real estate blogs are one of the most popular forms of realty information on the internet today.
These blogs can contain a wealth of information about realty markets, mortgages, and trends that can help the average consumer become a much more informed business person. Previously, all this information was only in the hands of real estate professionals and they acted as the gate keeper of the information.
Now with an ever-increasing use of web tools and the aggregation of information into simple to use blogs, sites, and applications there is a new wealth of information that is very specific and real-time. Using such blogs and tools can help a potential buyer find out every little thing about a neighborhood he or she is thinking about buying in Bakersfield.
These new technological advances make the real estate market much more transparent for consumers who can gauge the prices in a market effectively, engage the most knowledgeable real estate professional available, and learn everything about specific towns and neighborhoods before they make any permanent moves.
With this new technology taking over, realtors will have to adapt because all the things people used to go to them for are now widely available on the internet. In order for a real estate professional to succeed in today’s market, they need to embrace this new technology and use it to their own advantage.
Real Estate prices in the United States have dipped a bit in the past year but many Americans still struggle to afford a median-priced home in Bakersfield. American workers are not closing the gap on affordability and have been so far behind as it is. Real estate prices have increased in value so much that they have far outpaced the growth in income.
In an attempt to afford decent housing many people are spending dangerous percentages of their salaries on a mortgage. They have to cut out other necessities like transportation costs or health insurance just to be able to afford a home. This is a major reason many Americans lack proper health care. Other ways people try to deal with the rising burden of housing is to work longer hours, work second jobs, or live with additional income earners.
This is also puting a strain on family relations and values. When primary earners of a houshold are forced to work longer hours or second jobs, they have less time to spend with their families. This will eventually erode the core of American culture’s family values.
The only way to help low to moderate income people is if builders build cheap, high density living spaces such as condos or townhomes. Small drops in home prices will not help most of these people and the resulting benefit is marginal at best.