Meet and greet with Kunal Patel of Coldwell Banker Heritage

Q Where do you see real estate sales going in 2020? Do you see home prices dropping or increasing? Do you see inventory changing?

A I think 2020 will be another interesting year for Dayton residential real estate. I do not foresee home prices dropping but I do believe they will stay mostly consistent with 2019. Last year, we had an inventory level that was lower than normal, which led to higher than normal sale prices of existing homes. I believe 2020 may see a small increase in inventory from previous years but again, prices should be similar to what we saw in 2019.

Q As fears of a recession ramp up, what are your thoughts on how this could affect the housing market? Should potential buyers or sellers be worried about a repeat of the Great Recession of 2008?

A Well first, a recession does not necessarily equate to a housing crisis. 2008 was a result of very specific and distinct circumstances. I’m not saying it should be ignored or forgotten, but CoreLogic shows that typically, home prices actually hold fairly steady or even appreciate during three of the last five recessions. In 1980, home prices increased 6.1%, 1981 3.5%, 1991 -1.9% and in 2001 6.6%. Only in 2008 did we have the large depreciation of -19.7%. There are many variables that affect the real estate landscape, but with lower rates and an uptick in housing supply as we approach 2020, I’m feeling good that it should be another positive year for home sales.

Q What are some of the services you offer to clients who are either buying or selling a home?

A What sets our team apart is our ‘concierge-style’ approach to real estate. We know that our clients have other things going on in their daily lives’, so we like to make everything as seamless as possible. We have a specific concierge list that each of our clients have access to, which includes all local utility company numbers, handyman services, cleaning companies, etc. Our clients also enjoy allowing us to provide tips and tricks on renovations to their home that will help them sell. We also like making it easy on them by providing access to our moving trucks or partnering with our moving companies. Our team is able to schedule all their appointments so they can sit back and relax.

Q What communities are hot in Dayton right now?

A Truthfully, the Dayton market is hot everywhere! Currently, the downtown Dayton market has a lot of activity. We’ve seen many people moving downtown because of the real rejuvenation we’ve seen in that area. Folks are really enjoying the fresh scene of restaurants, nightlife and metro parks.

I also see the suburbs of Oakwood, Bellbrook, Beavercreek and Centerville moving faster than normal. Personally, I believe many of the buyers in these areas are moving there because of the location to the highway for work, as well as the closeness to the different restaurants and metro parks.

Q What do you love about Dayton?

A What don’t I love about Dayton?! Having moved to the area when I was young, I have grown up here, learning the city and meeting so many amazing people who live here. The rich history and tradition that Dayton has impresses me every day! I love having the ability to walk through our metro parks or trying out some of the new restaurants all over our city. One of my favorite hobbies is to jump on my road bike and ride over to Yellow Springs from Downtown! Our city is connected in so many ways we can always find a new adventure.