2018 Real Estate Trends

Introduction

The one thing you need to know about real estate is that it is always changing. The trends of 2105 are no longer in vogue. The housing supply is finally beginning to catch up to the buyer’s demand, which puts them more in control this year.

Not every millennial is happy living at home with mom and dad. According to Realtor.com, there are a lot of millennials with the means to strike out on their own. They want to be on their own, which puts every real estate manager
in a position to help.

Millennials are not the only ones looking for a place to call their own. Various sellers are looking to capitalize on the buying demand. 2018 is already shaping up to be a good year to put their home on the market and make a nice profit with the sale.

We have an abundance of new homes and pre-existing homes waiting for a new owner. We asked the Real Estate Council their thoughts on the latest trends and what every real estate manager needs to keep an eye on.

Top Seven Trends

1) According to one real estate manager and member of the board, the coliving opportunities are increasing. A coliving home is where two or more people share a living space based on a shared connection and values. Coliving environments are very trendy right now with millennials.

You have a few 20-somethings, who are already friends, looking to get out of their parent’s house. There is the community-driven space, which offers essentially the same thing. Every real estate manager has a shared interest in this news. They have the listings and the interested parties have the need to buy.

2) Short-term rentals are on the rise. There are available everywhere from New York to Florida. Short-term rentals are perfect for someone looking for a quick fix for a few weeks or months. They come in, stay for a period, and then leave.
You can rent out your home for a few nights if you need the extra cash. You can find someone who needs to rent a room for a while.

My Story: Part One

I rented a room up north before I moved back home to Florida. I did like the landlord, but it helped serve a purpose. I did not need a real estate manager to help me. It served a purpose in the interim, and I left once my time was done.

There are a lot of people looking to do the same. I suggest doing research before going this route. I did not do any research. I sort of fell into it. You need to know what you are getting into because it does have its fair share of advantages and disadvantages. I wish I had done some more research before agreeing to the situation. You have the chance to learn from my mistakes and do better.

3) One of the latest trends is fractional living and looking for a smaller space. Housing prices will rise this year. Some of you may not be able to afford the price. Buying a smaller place for a fraction of the price is the perfect way to have your cake and eat it too.

There is a mortgage calculator
you can use to see how much can afford. You can also ask your real estate manager to help you.

4) The boomerang buyers are back, baby. A lot of buyers were forced to foreclose on their homes during the bubble. Every home in foreclosure goes through a 7-year time period. The seven-year period is over and they are back.

The good news is that sellers will profit with this trend. The bad news is that buyers will not.

5) Every place listed in the “hot markets” right now will get even hotter. Below is a list of the hot markets and their corresponding places.

Seattle, Washington

Austin, Texas

Salt Lake City, Utah

Raleigh/Durham, North Carolina

Dallas/Fort Worth, Texas

Fort Lauderdale, Florida

Los Angeles, California

San Jose, California

Nashville, Tennessee

Boston, Massachusetts

6) A lot of areas overcrowded, which leads to overpopulation. There are too many buyers and not enough spaces to accommodate. There is a good news for those facing this dilemma. You can opt for a small apartment with the same amenities or a mobile home.

My Story: Part Two

I lived in a mobile home for about a year after I moved back home to Florida. We did not have much, but it did the job. My time there has given me some great memories. We lived in a nice area and it was simple.

Mobile homes offer a nice living space you just need to look past the negative connotations. Not everyone who lives in one is considered “trailer park trash”. In fact, some pretty intelligent people live in mobile homes. They offer a great way to save money.

Buyers fall into different categories. Some like the country while others prefer the city. Why not compromise? Buy a mobile home or small apartment somewhere in the middle. That way you get the best of both worlds.

7) You need to be aware of the new bill in legislation, which I think passed already. You know about the higher costs for some homes. You may not be aware of the impact it will have on you. The higher costs will make it hard for some to do business, which is why saving up for a smaller place might be the answer.

Contact Bello Estate Management to find out about more real estate trends of 2018.