Cartus continually reviews best practices for home sale and marketing, which we compile into our periodic United States Property Market Watches. For the latest 14-page United States Property Market Watch, the Cartus Supply Chain Management team surveyed its high-performance network of appraisers, brokers and inspectors to gather insights on what they’re seeing in the market.
The Inspectors’ Viewpoint on United States Property Trends
There’s an increase in the percentage of homes being inspected, as buyers are seeking to maximize their leverage in a buyer’s market. Sellers with homes not inspected during the relocation process may find they have to make excessive repair concessions at closing.
The Brokers’ Viewpoint on United States Property Trends
It’s location, location, location. Corporations and their assignees should be prepared for varying market conditions based on destination and departure location. Some markets like Dallas/Fort Worth are seeing multiple offers due to a shortage of listings, while prices in other markets are under strong downward pressure due to a high volume of short sales and foreclosures. Transferees moving from a soft market to a more active one can become confused. It is very important to help the people we move understand the dynamics of the market.
The Appraisers’ Viewpoint on United States Property Trends
Appraisers continue to analyze an unstable market with no clear-cut trends. Single marketplaces can have sub-markets, each with its own set of price ranges and challenges. In most markets, higher priced homes are experiencing the sharpest declines in activity, and the condominium market is also increasingly difficult to evaluate. Appraisers are doing their best to stay on top of trends and shifts in each marketplace, while trying to forecast as accurately as possible.
For more information on United States Property Trends, including price changes by state and a profile of 14 cities that illustrate how local real estate scenes are shifting, read the full Cartus Market Watch.
You may also listen to a recording of a Worldwide ERC® SpeedSession on real estate conditions that I recently presented with Kevin Russell, senior vice president of Cartus Home Loans.
Email this contributor at pat.dedonato@cartus.com.
