One of the top real estate trends for this year is going on behind the scenes. It is the education of real estate professionals in going around the foreclosure issue, which stifles both home prices as well as consumer confidence, and learning more about investment properties, short sales, and properties that are in distressed conditions. They are essentially learning how to think outside the box and be more inventive with what they have.
On the buyers side of the table there is a trend of buying smaller, more compact homes in urban areas. This is being done by the younger generation who sees home-buying in a completely different light than their parents. This trend is good for bringing life back into the urban areas on a residential level where everything is within walking distance to the shops and businesses that started investing in these areas earlier.
The trend that is probably going to realize the best long term benefits for the market is that of the mindset of current buyers. People are starting to view a house purchase less as an investment and more as buying, well, a home. A place to start and raise a family. What this means for the market is that more home-buyers will more than likely see out the length of their mortgage and end up owning their homes. If you want to know more about how these and other trends effect you, the buyer or seller, feel free to call me and I’ll be happy to answer your questions.