Our estate managers at Black Diamond would not have been able to achieve this level of success without remembering to do one thing: listen. Whether or not we agree with other’s opinions is not the point. The point is being open to the impossible. Because some times, the same things we initially doubt end up actually happening. Black Diamond Property Management listens to the insight of experienced specialists regardless of how seasoned we become in our profession. We strongly suggest that each and every one of our contacts do the same! Here are the most significant factors that experts have predicted for the national market. 1. Affordability will Decrease Prices of properties will continue to rise. The asking rates will most likely increase quicker than incomes. The same thing applies to mortgage rates which will also interfere with affordability. 2. The Buying Trend will Slow Down All things must come to an end in order for something new to start. In this case, real estate will do away with its excessive buying and decrease the frequency. Relieved credit and inventory is causing this. Another reason is due to its reduction of stakeholders. Black Diamond urgently suggest property owners to take advantage of this “pocket of prosperity” before it’s too late. Whether you are trying to make a short sale or have a home for sale in Oakland; take action now! 3. Out with the Old in with the Young? The younger demographic known as the millennials (25-34 in age) are going to become the largest real estate consumers within the next few years. Many of them will choose to rent due to financial and social factors. Renting rates are expected to rise which also boosts the demand for multi-family housing. At the same time, this generation of adults will turn into the most influential home buying force in the market. Source: Forbes