In a recent episode of UHQ Talk Podcast: Construction, Community, and Conversations, Cory Getz of UHQ Construction sat down with Eric Huer, principal broker at Remax Edge, to discuss real estate trends, market challenges, and investment strategies. With over 20 years in the real estate industry, Eric shared valuable insights into home buying, selling, investment strategies, and the evolving housing market.
The Evolution of a Real Estate Career
Eric’s journey began in the home-building industry before transitioning into real estate sales. He partnered with his brother in home building and real estate development, gaining hands-on experience in land purchases, home sales, and construction. His story includes a pivotal moment in 2008 when he and his brother moved to Florida during the real estate market collapse to pursue investment opportunities. They learned firsthand the challenges of navigating market downturns, eventually moving back to Indiana and establishing a successful real estate and home-building business.
Challenges in Today’s Market
The real estate industry has shifted significantly over the past few years. With rising home values, interest rate fluctuations, and increased corporate investment in residential properties, the housing market has become more competitive and complex.
Some key takeaways from Eric’s perspective on today’s real estate landscape:
- Housing Shortages: The U.S. is still playing catch-up after a decade of reduced new home builds. From 2010 to 2019, only 5.8 million homes were built nationwide, compared to 25-27 million homes per decade before that. This shortage continues to drive home prices up and inventory down.
- Interest Rates & Market Activity: Higher mortgage rates have slowed sales, with many homeowners reluctant to sell and lose their low-interest rates. However, market trends indicate a potential rebound in the next year.
- Institutional Investors & Affordability Issues: Large investment firms have purchased a significant share of entry-level homes, turning them into rental properties. This has limited home-buying opportunities for first-time buyers.
Selling a Home? Preparation is Key
For homeowners considering selling, Eric emphasizes early preparation to maximize home value. His top recommendations:
- Start early—Prepping a home can take 3-6 months.
- Declutter and depersonalize—Buyers want to envision themselves in the space.
- Small improvements make a big difference—Updating windows, siding, and roofing can enhance value and curb appeal.
- Consider a pre-listing inspection—This helps identify and address any potential deal-breaking issues before they arise.
Buying a Home? Know Your Numbers
For home buyers, Eric’s advice is clear:
- Get pre-approved early to understand your budget and loan options.
- Research the market—Understanding different neighborhoods and price points helps make informed decisions.
- Don’t let emotions dictate decisions—It’s easy to fall in love with a home, but ensuring it’s a smart financial investment is key.
Red Flags When Choosing a Real Estate Agent
Not all real estate agents are created equal. According to Eric, here are some warning signs to watch out for:
- Agents who talk more about themselves than your needs.
- Lack of market knowledge or experience with current trends.
- Part-time agents who may not be fully committed to the process.
A great agent should listen, educate, and guide their clients—not just push them into a transaction.
The Future of the Housing Market
Looking ahead, Eric believes that home prices will continue to appreciate, though at a more sustainable rate than the rapid spikes of the past few years. He also highlights the importance of understanding financing options, including government-backed programs like USDA’s 502 Direct Loan for rural homebuyers.
Final Thoughts
This podcast conversation offered a deep dive into the real estate market, covering everything from buying and selling strategies to industry challenges and future trends. Whether you’re a first-time buyer, seller, or investor, understanding these market dynamics can help you make smarter, more informed decisions.
