Many people across the country have been waiting for a housing market crash, hoping to finally get the pricing relief that a historical U.S. housing market cycle usually provides. It’s been almost fourteen years since the last housing crisis and prices have been increasing for over a decade. The truth is, it may not be coming anytime soon and one of the reasons why, may be right in front of the computer screens and phones everyone looks at every day.
Technology and the connections that social media offer have created unprecedented opportunities for homeowners. Since the 2008 market crash, the proliferation of platforms like Airbnb and social media sites such as Facebook and Instagram have become a part of everyday life for a wide swath of American adults (a recent study estimated the revenue generated through Airbnb to be at $33B in the U.S. alone). But what does that mean for the average homeowner?
Savvy homeowners are primed to take advantage of a market that is short on inventory. With social media and other web platforms now providing direct access to renters, new revenue streams are available to homeowners who are ready to take advantage.
Airbnb, VRBO and other similar listing platforms ensure easy access to screened, qualified renters for those in search of short term revenue. They have also made it easier than ever to afford vacation homes. Renting those vacation homes out on these platforms provides reliable income and helps offset mortgages while offering the flexibility to still enjoy the home during vacation months. Social groups within Facebook and sites like Craigslist are being used for those that seek some financial assistance by reaching out and finding local people to rent out their bedrooms. What’s more, new apps are developed so frequently that even more opportunities are ahead. Some of the newest platforms, such as Swimply, allow homeowners to rent their pools by the hour and or with other apps rent out driveways.
Realtors Leo & Katherine with LK & Associates have been cleverly helping homebuyers assess the potential income producing options of each home tour and estimating how much extra income can potentially offset their mortgage payment. With so many options, homeowners can easily shave off half of their monthly mortgage payment, if not more, through these extra income earning opportunities. It’s also a strategy they offer their home sellers to attract the highest price possible for their home.
The reality is that social platforms and tech have created a transformational way for homeowners to buy and own a home even at record-breaking prices. So, homeowners who would normally need to cash out during hardship or are affected by steep inflation, now have the ability to cash in without having to sell. Although a housing market can adjust at anytime, Realtors Leo & Katherine with LK & Associates see tech as a way of alleviating fears and anxiety about the real estate housing market, while also planning for the long term.
Media Contact
Company Name: Leo & Katherine | LK & Associates REALTORS
Contact Person: Leo & Katherine, Realtors DRE 01827072
Email: Send Email
Phone: 951-898-9800
Country: United States
Website: https://mylkhomes.com/
