If you plan to invest in real estate any time soon, or you already have, Clay Hutson advise to study the trends in the industry. There are plenty factors to consider, including interest rates, gas prices, wage growth, market strength, among others. Even the presidential election of real estate magnate Donald Trump can impact the industry, although we do not know in what way.
This 2017, the following are a few of the trends that will affect real estate:
While unmanned aerial vehicles have already largely been in use, commercial applications had been banned – until this year, that is. The Federal Aviation Administration (FAA) approved the use of drones commercially late last year, which opens a plethora of opportunities in the real estate industry.
Video feeds captured by a drone can provide a view of properties that had never been before seen. Fresh perspectives and more in-depth inspections can give more essential information to developers, agents, and buyers.
Optionality is the creation of multiple values or streams of income from a single investment. The trend is seen to pick up even more as millennials tend to avoid committing to owning a home and find cheaper alternatives when they travel or find lodging.
This has led to the emergence of sharing economy, specifically vacation rentals, co-living, and multifamily tenants. Both Urban Land Institute and PricewaterhouseCoopers forecast that optionality will change the landscape of real estate this year.
Hi there, Clay Hutson here, a real estate agent working in and around Seattle, Washington. I am always on the lookout for trends and opportunities in the industry. To read more insights, subscribe to this Clay Hutson blog site.