The Dias Team will help make buying a home or selling a home a stress free experience!
Purchasing a home is one of life’s biggest and most important financial decisions
So, how does the k-shaped recovery impact buying a home or selling a home? To understand more about this we turn to some of the leading economic advisers. But first, for those who don’t know the definition of k-shaped recovery here it is:
“The term “K-shaped” recovery rose to prominence in 2020 in the wake of the sharp recession in the U.S. that accompanied the COVID-19 pandemic, and was used to describe the uneven economic recovery across different sectors, industries, and groups of people in the economy.”
Forbes presents a three K-shaped recovery charts to illustrate the service sector and lower income groups. This addresses the retail, restaurant and service sectors greatly impacted by the pandemic. In contrast to industries such as technology and some segments of retail which have not just recovered but are doing even better than before the pandemic hit.
K-shaped Recovery and Home Buying
‘The people we sell houses to aren’t using their salary, they’re using their portfolios” MarketWatch
Keller Williams is taking advantage of technological changes and quickly responding to your needs. Home to the Tech-Enabled Agent, the KW business model equips agents with a technological edge and the ability to offer customers whatever they wish. Here is an excerpt of Gary Keller, CEO of KW, discussing the k-shaped recovery and real estate on inman:
“The people that make the most amount of money and make the most disposable income and the men and women who make the overwhelming majority of buying homes, the 35-and-up crowd, are the least affected by unemployment,” Keller said. “Their incomes have been affected the absolute least and their employment has been impacted the least of the major age groups.”
“That’s why housing has seen a rebound at this point,” Keller added.
But Keller sees things more as a series of dominoes, where the high unemployment rate among lower earners will eventually impact higher earners and thus, eventually impact the housing market.
What’s next for the housing market is coming in two stages, Keller believes. First, the owner-occupied housing market will continue to see strong demand, with low-interest rates and incomes for earners in the typical homebuying range, remaining stable. Sales may be somewhat limited by low inventory.
Dias Team Real Estate Meets The Challenge
Now we come to local real estate and how the Dias Team can help. For example, we have two new listings this week that went under contract very quickly. This, as you know, is the great and the challenging parts of real estate. For the home buyer, it takes patience and tenacity to stick with the journey to find the perfect home without rushing too quickly. To clarify, we would refer you to our earliest blog on the 8 steps to buying a home.
Particularly, step 2 shows 7 ways our agency can make it happen
- Check and double-check paper work and deadlines
- Inform and Discuss
Not only buyers will benefit but sellers will also need the proper advice on the value and updates needed before proceeding to place a home on the market. And that is what we provide! Our next blog will cover the 8 steps to selling a home.
SELLING A HOME
If you are ready to downsize or looking to move to another place in the areas we serve, then you will need to know the value of your home. Just fill out the form below:
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BUYING A HOME
If you are currently renting and looking to buy a home register with the Dias Team today!
And last but not least, in case you missed some of our earlier posts we have an opportunity for you to custom design a home yet To Be Built in Winsor Woods in Johnston! The blue-print is the same Colonial Style as 18 Carriage Way in the same development. Check out our properties page to see more.