Major Changes in Real Estate Over the Past 10 Years

The real estate industry has really changed over the past 10 years.

When I started my radio show 10 years ago, we were definitely in a buyer’s market. You could hardly sell a house back then! Now, we are in a strong seller’s market. That said, markets come and go every seven to nine years. It’s about time to see another change in the market, and we are starting to see a slight shift towards a more balanced market.

Financing has really changed as well. In 2006, if you were able to fog a mirror, you could get a mortgage. Then we went through a period where no one could get a mortgage. Today, it is much easier than you think to get a mortgage. You do need a good credit score and you have to meet certain criteria, but you can get a mortgage in today’s market.

Another major change that I’ve seen is that people no longer want to live in the suburbs. These days, everyone wants to live downtown or close to town. That demand is what’s driving the construction in the North Shore and even on the Southside. That said, homes in the suburbs are still selling well.

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The Internet has completely changed
 real estate marketing.

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Finally, real estate marketing has completely changed, thanks to the Internet. It used to be that we could get calls from print ads in magazines or newspapers. Now, the Internet absolutely drives marketing, and smartphones allow us to market directly to you.

The real estate market can change drastically in 10 years or 10 minutes. We work hard to stay up to date on all of the latest marketing technology and market trends. If you have any questions, please give us a call or send us an email. My team and I would be happy to help you!