As the 2016 presidential election has proven, anything can happen – even in real estate selling. Don’t get blindsided this coming year; circumvent surprises by staying aware of changing trends.
Be on the lookout for dramatic changes in 2017:
For everything from seller listing photos to fly-by home inspections for overeager buyers, the FAA’s decision to clear drones for commercial use pending flight certification (not the ejector-seat kind) will likely lead to the dramatic (overuse) of drones in 2017.
• ‘Surban’ settings
Bye-bye ‘Brangelina’ and ‘mixed-use…’ Hello ‘surban.’ Dense communities of varied housing types (apartments, townhomes, single-family) alongside urban amenities allowing residents to live, work and play within walking distance of their residences are now a popular and affordable alternative for the working class, especially compared to the ultra-exclusive nature –and price tag – of comparative urban settings.
• Money-backed millennials
Millennial home purchases will continue to be a driving trend, however all those years staying in mom’s basement are leading to purchases over-and-above the typical starter home milieu. Those not buried in student loan debt may be on the lookout to buy more house than you think.
• Gen Z
Gen Z, on the cusp of home buying, will be coming of age with less student loan debt, higher wages, and lower interest rates. Growing up amidst recession, war, terrorism, and stock market collapse, they value home ownership. Over 97% want to own a home – and they’re looking for space.
• Post-election shenanigans
Just before voters went to the polls, Dennis Lockhart, Federal Reserve Bank of Atlanta president, stated only election turmoil could forestall December interest rate hikes. Then Trump literally trumped election expectations, tossing a wildcard on the table which is expected forestall interest rates at least another season. The future, however, is anyone’s guess.
Do you have the information you need to protect yourself against unforeseen obstacles? Properties Online can help you secure your real estate selling future.