Factors that Drive Real Estate Prices

Real estate is a key component in determining someone’s wealth. In the same instance, it is normally considered a solid investment. Before making the decision to invest and/or own your own property or even to sell, it’s important to evaluate how the real estate market is performing. The results could show you if it’s a good time and if you’ll be purchasing or selling for fair market value.
There are a few key factors that drive the real estate market that you should evaluate.
Interest rates. If you’re buying a property with a mortgage, start by researching interest rates using a mortgage calculator. Interest rates will vary week by week, but it will give you a good idea on the demand for real estate. The lower the interest rate, the lower the cost to get a mortgage will be. Lower interest rates create a higher demand, which increases real estate prices.
The economy and stock market. The overall health of the economy plays a big part on the real estate market. Indicators like employment data, the price of goods, the stock market, etc. typically measure the health of an economy. Most participate in the stock market in at least a small way so it impacts the majority of potential homeowners.
Ability to secure a loan. If the economy is weak, buyers who have a low cash flow and fair credit will find it difficult to get a loan. If the economy is strong, lenders will loosen standards and the real estate market will benefit.
Demographics. Things like age, race, gender, income and population growth can affect how property is priced and the types of properties that are in demand. Major shifts in demographics, like the baby boomers generation who were born between 1945 and 1964, can significantly influence the real estate market. Their retirement is being noticed now and will continue to be noticed for years to come.
If you have a goal to purchase a home or make a business investment in real estate, make sure you research and analyze these factors and the impact they are currently having on the real estate market.
United Country Real Estate is the nation’s largest integrated network of traditional and auction real estate professionals. Whether you’re looking for your next home or an investment property, we can help you from start to finish. Visit our website to find an agent near you at www.UnitedCountry.com.

Sources:
https://www.fortunebuilders.com/top-4-influential-housing-market-factors/
http://www.investopedia.com/articles/mortages-real-estate/11/factors-affecting-real-estate-market.asp

Rant about retirees moving here from California

Numerous times I go to planning and zoning meetings as well as Mohave County Board of Supervisors meetings in favor of anything that will help this town gain some positive traction and frankly I am sick and tired of all of the retirees who come here from California dictating the direction this town and valley should go.  They are absolutely destroying any future for this area.

I don’t understand why the people in this area and town fight every business unless it is medical or a restaurant that caters to them. Time and time again the retired residents who relocated here from California have chased off prospective employers instead of welcoming them with open arms.

What I take great offense to is these are the same people who have made a living their whole life in a blue collar jobs and then retire here and not allowing all of us who grew up here the same opportunities that were given to them. 

Everyone wonders why we see drastic increases in crime and drug use. You are not giving my generation the same opportunities you were given. I grew up here and there are very few people from my high school class that stayed. Simply for the fact there is a complete lack of career type jobs that a company like this will provide.  

This company already looked at the airport and felt it wasn’t the right place for obvious reasons like so many other companies before them that I have brought to the Airport.  They also looked out by the Griffith Interchange but felt it would be difficult to retain employees that far out of town.

Therefore without this rezone of this property  we will lose this employer who hires skilled workers. They will simply move on to the next town like so many before them. 

There is also the argument about the water usage of the plant which is minimal. I guarantee something will happen on this parcel and what a rezone is not needed at all to make it a farm like others we see in the valley. This entire parcel could be converted into alfalfa or permanent tree production without the approval of anyone in this room. 

It just goes to show that people who have relocated to our area will fight anything on any property here. The rezone is asking for a change on 10 acres in the middle 260 acres literally next to a shooting range. Furthermore this has long been an industrial area long before any of the homes came into this area. The property is right off of a large Interchange on I-40.  I don’t understand how anyone could be against this. 

I have had friends and family lose their homes in foreclosures in this area due to being laid off and not finding  work time and time again. We need to stabilize and diversify our economy with good paying industrial jobs like this. Please move forward on the rezone today to send a clear message to would be employers that our town welcomes innovative companies and the jobs they bring here! Please give people a place to work besides a prison or Wal Mart.