Philadelphia Real Estate Market Update March 2021 скачать в хорошем качестве

Philadelphia Real Estate Market Update March 2021

Philadelphia Real Estate Market Update March 2021 In this video I talk all about what’s going on in the nationwide real estate market and the Philadelphia real estate market to provide you all some clarity with the low inventory crisis and whether or not I believe there will be a real estate market crash! Real Estate Express (Use this link to get up to 40% OFF!): https://trk.realestateexpress.com/?a=... ^This is the class I took. I personally went through Real Estate Express. I can honestly say that after going through all the material in the course, I was fully prepared to take the exam ► Get 2 Free Stocks on WeBull (valued up to $1650 when you deposit $100): https://act.webull.com/on/GtNd1ZolByG... Feel free to add me on socials: ► Follow Me on Instagram:   / flyhigh_lil.  . ► Follow Me on Twitter:   / flyhigh_lil   ► Follow Me on Facebook:   / lillianc1993   Message me and I'll follow back :) If you’re a real estate investor or an agent, unless you’ve been hiding under a rock, I’m sure you’ve become aware of the fact that there is extremely low inventory throughout the country. Houses are selling like hot cakes and demand is higher than ever. So what’s the reason for this? Well for one, there’s a lot of seller uncertainty. And what I mean by that is Covid led to a lot of fear and caution by sellers. People immediately began delaying the sale of their houses especially if they personally occupied the homes. Now typically when it comes to this type of housing market where there are a lot less people selling houses or low inventory, that automatically drives up demand and motivation of buyers. Also the Philadelphia region recovered 56 percent of the jobs initially lost in March, when the COVID lockdowns abruptly threw the economy into reverse. So people are preparing themselves to buy while the market is this active. Another that is fueling the demand for houses is the record low mortgage rates which are currently at 2.5% for a standard 30 year fixed rate mortgage. Just to give you an idea, last year’s interest rates were around 3.7%. And they aren’t expected to go past 3% in 2021. That’s a huge difference. So people are taking advantage of cheap debt. This is also amazing for those who know how to invest in real estate. If you know how to leverage OPM then this is the perfect time to do so! Millennials are getting their piece of the pie by purchasing homes. Apparently first time home buyers represented a 33% of sales in January 2021. So that’s more than a 3rd of the market are millennials purchasing their first home. Young adults typically fall in love with city life after graduating from college and move toward suburban houses with bigger yards as they turn from couples into families. And right about now, they’re at family-making age, and the COVID-driven desire for social distancing simply intensified that tendency to leave the city. Also it’s been very interesting that there’s been a huge wave of New Yorkers moving to Philly. People are moving away from the overly expensive sky high condos in NY to the Philadelphia market because when the Philadelphia Real Estate market is much more affordable than the New York Real Estate market. Now whether or not there will be a real estate crash, nobody knows for sure because we can’t see the future. However, we can go off of previous data and trends. And I personally feel the market will correct but it will not be how it was in the real estate market crash in 2008. The cause of that crash (sub prime lending/predatory loans) is a completely different reason than this potential crash which is an economy shut down to the a virus. So I think it will play out completely different. Other relevant videos: Should You Get Your Real Estate License As An Investor?    • Should You Get Your Real Estate License As...   The FASTEST Way To Get Your First Real Estate Wholesale Deal    • The FASTEST Way To Get Your First Real Est...   Email me: Lillian.chukwueze@exprealty.com If this helped shed some light, please LIKE the video, COMMENT your best takeaway, SHARE with others you believe it may help and SUBSCRIBE for more videos about Real Estate, Entrepreneurship and Personal Finance coming soon! #RealEstate #PhiladelphiaRealEstate #RealEstateMarketCrash