The Homebuying Process is Speeding Up

PTC-Computer-Solutions-Parker-Associates-blog-July-2019-home-buying-process

The Process of buying is faster

Kiplinger reports that the process of buying homes is speeding up as a host of start-up firms use sophisticated algorithms to identify promising investment properties and generate an instant offer made directly to the homeowner. If the owner accpts, closing can take place in as little as two weeks. The purchaser makes renovations and then tries to quickly resell the house at a premium. It might be thought of as the new version of “flipping.”

PTC-Computer-Solutions-Parker-Associates-blog-July-2019-Home-Buying-Process
PTC-Computer-Solutions-Parker-Associates-blog-July-2019-Home-Buying-Process

Among the firms driving the trend are Opendoor, Offerpad, Knock and Perch, among others. The biggest of them, Opendoor, aims to buy and sell homes in 50 markets soon. It is a trend that is likely going to continue as the process of home buying continues to be simplified.

Inflation Ticking Up

Look for inflation to play a role in all buying and selling. As tariffs on Chinese imports take effect in the coming months, look for inflation to tick a bit higher. The initial, relatively modest duties on certain goods have had a minimal effect on overall U.S. prices. But, with rates going from 10% to 25% on many imports, consumers will start to notice the difference. By year-end, the effect should add from 0.2 to 0.3 percentage points to the headline inflation rate, lifting it to 2.4%.

PTC-Computer-Solutions-Parker-Associates-blog-July-2019-home-buying-process
PTC-Computer-Solutions-Parker-Associates-blog-July-2019-home-buying-process

If Washington goes ahead with further duties, watch out. The White House is mulling the option of levying a 25% duty on an additional $300 Billion in imports from China…virtually everything not currently subject to tariffs. Most of those goods are items consumers buy, rather than businesses. Across-the-board import taxes could push up the rate of inflation to more than 3%…a headwind for the economy.

Contact us here at PTC Computer Solutions to help understand the retail market and business technology of today.  For more on the ever evolving Retail market and how to stay involved and relevant, contact us today.  We work hard to stay ahead of the cutting edge and can assist your projects in understanding where you should be putting your efforts.

David WB Parker is a principal of Parker Associates of Jacksonville, Florida, marketing consultants to the real estate industry; President of PTC Computer Solutions, IT Specialist, and an active real estate sales professional with Barclay’s Real Estate Group based in Jacksonville, FL.  He can be reached at 904-607-8763 or via email davidp@ptccomputersolutions.com.

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