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Friday, March 29, 2013

The Housing Bubble is back in the midst of March Madness

What does March Madness mean to you?

If you’re a basketball fan, it probably means brackets, and guessing, and heartburn over which 5/12 upset to pick, and the hope for a whole lot of luck.

If you’re in real estate, March Madness might mean that time of the year the market begins picking up a bit more, as the (usually) warmer weather motivates consumers to start thinking about spring, cleaning, and their future plans.

This year, March Madness might have a different meaning entirely. It might mean the beginnings of the return of the U.S. housing bubble.

You might have been busy enough recently to not have paid attention to what the national market is doing. But some studies suggest it is increasing nationally due to a number of various factors.

According to economic factors analyzed by investment opinion and analysis website Seeking Alpha, the “U.S. housing bubble has effectively reignited, with a new inflation phase having taken hold since July 2012.”

The article went on to note they don’t know the reason why yet, but will look to address the performance indicators that led to this conclusion in coming posts.

"The reason for that analytical vagueness is that housing prices are not really a function of time, although they are often treated as if they are. 
"In reality, housing prices are a very strong function of income. Although other factors can and do affect them, their prices are primarily determined by the household income of those who live in them. What's more, housing prices are very linear functions of income - if you look athousing expenditures by income level, you'll find that it follows a very straight trajectory," the article states.

March is truly going mad. But unlike with their March Madness tournament brackets, real estate shoppers won’t base their buying decisions on rankings, colors, or even the cuteness of team mascots.

They will base them on location, price, value, and a number of other factors they’ll look to evaluate before making such an important decision.

Those factors are the difference between you leveraging the movement in the market or losing out when your business could be booming.

Like when making any important investment, a consumer wants to make sure she has the best information readily available. She wants to do the right homework, compare markets, and feel secure in her decision.

As her real estate agent, you’re no different. You want to make sure you can provide that info. You want to be where she is at, and cater to her needs the way she expects you to. You don’t want to lose her business to another agent, and you know none will work as hard for her business as you will.

She wants to search for market information from her mobile phone, so you make sure you’re covered there. Not only do you have a mobile real estate website, but it allows her to search for homes geo-located around where she’s at. She can click on them from the map, slide through a few pictures, and submit a lead right there. She can even click to call or text a message to you, and now you can track that data directly through Google Analytics.

Customers can save the info they’re researching in their My Portfolio system, and now they have more options to control and edit this info. When listings are no longer on the market, they can mass delete those. They can easily edit comments on listings they’ve saved. And, again, all from their mobile phones.

These are just a few of the many recent updates we've made to better improve the research abilities and user experience for your consumers. March Madness and the real estate market are both heating up, and your business will too with the right resources and care.

But you can save your frustrations for your tournament bracket, because those are the factors you don’t need to worry about when you work with Delta Media GroupContact us for more information.
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