4 Real Estate Trends to Watch in 201817 Jan Chance Casey
2018 is in full swing. While you're still holding to your new year’s resolutions and looking to make 2018 your year, let's talk big picture and look at 4 real estate trends you should be keeping an eye out for this year.
Fractional Investing has become very popular in recent years. There are more and more services providing crowdsourced and social funding for investment properties. This method of real estate investing presents less risk making it far more attractive to those new to real estate investing or those who have had a bad experience in the past. With the market doing well expect to see investors and newbies alike looking to diversify their portfolio with crowdfunded investment properties.
Typically auctions are reserved for foreclosures. But now-a-days more and more luxury homes are being sold this way. Luxury home owners are choosing to bypass the list and wait method and auction their home off like a fine piece of art. It makes sense too. Much like a fine pieces of art many of these homes are one of a kind so pricing the home can be a bit of a challenge. With the auction, homes begin low, peeking the interest of more potential buyers, thus driving the price up and putting more money in the sellers pocket.
As seen on HGTV little homes are really starting to gain some momentum. Home owners are giving down sizing a new meaning. What makes living in a tiny home so attractive is the ability to enjoy a more flexible lifestyle. The affordability of tiny homes is a big plus for those who are looking to spend less on housing, especially here in Austin where the pricing has sky rocketed over the last few years. Tiny home communities have already began popping up around Austin. Don't be surprised to see this trend continue.
Short term rentals
With the advent of services like Airbnb and Home Away, short term rentals have been a nice source of income for those who own a home, or have an extra room to spare. While there have been new laws passed, even at the HOA level, to regulate these rentals, it remains a viable option for those with a little extra space on their hands. Austin, in particular plays host to events like SXSW and F1 where the city is filled with visitors looking for alternatives to a hotel. This creates a high demand for a short term rental market place that should continue to trend upward.