2017 Real Estate Trends to Watch Out For Jan13

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2017 Real Estate Trends to Watch Out For

Many recent articles propose their predictions and trends for the coming year for real estate investors to read and investigate. It is very subjective and the reader should make note of the trends that fit into their individual plans. A recent article in the Huffington Post by Than Merrill of Fortunebuilders discusses 3 Trends in the Real Estate Market for 2017.

Construction One notable trend is that the construction of new homes could ease the strain on inventory as people shift from renting to home purchasing. There are many factors that affect this. As millennials are growing in their careers and earning more money, they may make lifestyle choices such as marriage, family and home ownership to round out their futures. They are bringing new money to the market and there will be a variety of new buyers. Some will want homes in brand new modern communities while others may prefer traditional established neighborhoods and school districts. It will depend on the area of the country and individual states. Older established home owners may be reaching retirement age and consider downsizing and moving or renting rather than be burdened with the maintenance of a home. This will free up established housing inventory. Talk to the real estate professionals in your area and gauge the current trends from other investors, builders and agents. Where will you place your investments?

Other trends for the new year will include some of the following according to Market Watch http://www.marketwatch.com/story/5-real-estate-trends-to-watch-in-2017-2016-11-15.
The Trump Effect Many people are trying to predict what the election of a real estate mogul and expert such as President Elect Donald Trump will do to the market. Will he simplify and enforce the regulations for the financial industry? Will interest rates rise? Will the US government budget affect our housing market? There are so many unknowns and possibilities that people are just going to have to wait and see. So pay attention as you weigh your choices.

Drones Also known as UAVs (Unmanned Aerial Vehicles) will make searching for properties, aerial photography and access to world wide clients to view listings in a new way. It is still about Location, but allows prospective buyers to inspect the home in a new way to view the entire property line or determine if the roof is in good shape.

Surban Formerly known as Mixed Use projects that incorporated the live, work, play concept new projects are now blending the suburban lifestyle with urban amenities to combine town homes, condominiums and single family housing with shopping conveniences and entertainment. Take a look at the city of San Jose, California right in the middle of Silicon Valley, where they are already using this model for millennials and future Gen Z-ers.

Gen Z-ers This generation will turn 18 in 2017 and they are future home buyers and consumers. We need to start paying attention to what they will want and need. They will potentially have higher wages and earning power, lower debt, better job opportunities and lower interest rates. They have grown up in neighborhoods and many want the same and more for themselves.

This overview gives you some ideas and resources for consideration in the new year.