What I Expect To See In 2017

By
Mortgage and Lending with George Souto NMLS #65149 FHA, CHFA, VA Mortgages NMLS #65149

This month Praful Thakkar  is hosting an ActiveRain contest,challenge titled "Get Out Your Crystal Balls: What is your prediction for 2017 Contest."  As I look into my crystal ball and look ahead, this is What I Expect To See In 2017

  • First, I think this is the year interest rates will start to increase again.
  • Second, An increase in jobs and income. 
  • Third, even with increasing interest rates home sales will increase due to the increase in jobs and income. 
  • Fourth, purchasing a home will continue to be cheaper then renting.  So renters would be wise to purchase a home now while home prices and interest rates are still affordable.
  • The Internet will continue to be king.  For several years now the Internet has been where Buyers begin their search for a new home.  This does not mean Realtors have been replaced by the Internet.  What it simply means is Buyers will begin their search on the Internet, so Realtors need to have a strong Internet presents to capture their business.  This one applies to Loan Originators as well.
  • This final one ties into the previous one.  Buyers, Sellers, and Borrowers will continue to overwhelmingly use Realtors and Loan Originators for the purchase and sale of homes.  The Internet is fine for the initial search, but Buyers, Seller, and Borrowers still want the personal touch, contact, and hand holding the Internet  cannot provide.  The  may be able to help a Buyer find a home, or apply for a mortgage.  But it cannot:
    • Help a Buyer negotiate a deal, help with the paperwork, or be there for the Buyer every step of the way. 
    • The Internet cannot market a home effectively for a Seller, cannot do Open Houses for them, and like with Buyers, the Internet cannot do the paper work, or the negotiating Sellers want and expect.
    • The Internet cannot provide the counseling a Loan Originator can give them to help them to determine what loan program is best for the Borrower.  Provide advice specific to the Borrower's credit situation and needs.  The Internet cannot guide and hand hold a Borrower through the loan application, and loan process like a Loan Originator can. While technology has made obtaining information easier and quicker, it has not made the human component obsolete.  In fact technology has actually made the human component even more valuable and necessary.  The human touch, expertise, and trust will continue to only be able to be obtained through direct personal contact with a breathing, living human-being.

The above is What I Expect To See In 2017. Now let's see if my crystal ball is working or in need of being replaced.

 

 

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 Info about the author:

George Souto NMLS# 65149 is a Loan Originator who can assist you with all your #FHA, #CHFA, and #Conventional #mortgage needs in Connecticut. George resides in Middlesex County which includes #Middletown, #Middlefield, #Durham, #Cromwell, #Portland, #Higganum, #Haddam, #East Haddam,# Chester, #Deep River, and #Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com

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 Info about the author:

George Souto NMLS# 65149 is a Loan Originator who can assist you with all your #FHA, #CHFA, and #Conventional #mortgage needs in Connecticut. George resides in Middlesex County which includes #Middletown, #Old Saybrook, #Middlefield, #Durham, #Cromwell, #Portland, #Higganum, #Haddam, #East Haddam, #Moodus, #Chester, #Deep River, and #Essex. George can be contacted at (860) 573-1308 or souto@snet.net

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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi George

I guess time will tell how accurate your crystal ball is but I agree with what you see coming in 2017. Now I need to do mine...

Jeff

Jan 05, 2017 05:34 PM #1
Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I am on board with most of these and it should be a great year.

Jan 05, 2017 05:51 PM #2
Rainer
349,832
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

I agree with you.  I think buyers still need information, want to won and I think this is the year I have been waiting for.

Jan 05, 2017 05:57 PM #3
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Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

I would like to see it happen as well with a broad sweep in our state

Jan 05, 2017 06:41 PM #4
Rainmaker
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Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

I think you are right, the internet is still king for those who are comfortable on it. Some folks don't use computers and will rely on print advertising.

Jan 05, 2017 07:09 PM #5
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

George Souto - love these predictions. The consumers will work more with the agents or loan officers is a good sign. Internet is good - however, it is people's business.

Jan 05, 2017 07:39 PM #6
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

And yes, thanks for your entry to this month's contest. I knew you have something special to share with us.

Jan 05, 2017 07:39 PM #7
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Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Great treatise on what the Internet can and cannot do.

  2017 will be a great year!

Jan 05, 2017 07:52 PM #8
Rainmaker
2,676,660
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

George your Crystal Ball seems to be on the same wave as mine:)) I agree with 100 of what your Crystal Ball sees. I also agree with your assessment of what the Internet can and can not do. Clearly it does not know how to manage the expectations and the emotional roller coaster that buyers and sellers experience...Endre

Jan 05, 2017 09:48 PM #9
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

George, I would add an increase in individuals becoming investors. I noticed in 2016 a return to people who want to use real estate as a primary asset class. I also don't think home ownership will be on the rise next year versus being a renter. The interest rates will add to that. It should also tame appreciation.

Jan 06, 2017 07:21 AM #10
Rainmaker
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Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond

George, a great market forecast for real estate and our professions...I see it as holding true but I am not sure about an increase in home buying...the next month will be telling.

Jan 06, 2017 07:49 AM #11
Rainmaker
1,696,478
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

George Souto - I believe you peered into your crystal ball with precision. Anyone who knows, understands, and has been in the Mortage business a long time is someone I would expect to give an honest opinion. When it comes to the Real Estate Industry I believe in you and I trust you.

Jan 06, 2017 11:02 AM #12
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

George Souto  I thing your predictions hit the mark i fact the bulls eye .  I too have a good feeling inside and think we are going to see an upswing in the RE market in 2017 .. I am with you

Jan 06, 2017 12:18 PM #13
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Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi George - Interesting predictions for the coming year, and I hope you're right. I'm going to play it safe with my post and just talk about my local market - I can see that future pretty clearly - especially if you're right.

Jan 06, 2017 01:21 PM #14
Rainmaker
2,137,654
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

I agree with your predictions, George.  However, I was surprised that mortgage rates dipped a little yesterday.

Jan 06, 2017 04:30 PM #15
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi George.  I hope that your predictions will come true as far as jobs and the economy go.

Jan 06, 2017 04:34 PM #16
Rainmaker
1,502,113
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Goof Evening George - I forsee the same predictions are yours with the economy and jobs.

Jan 06, 2017 07:40 PM #17
Rainmaker
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

We can safely predict that people will always buy and sell real estate and hopefully we, realtors, will not be kicked out by technologies any time soon. 

Jan 14, 2017 06:14 PM #18
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