Don’t Get Blindsided in 2017
Don’t Get Blindsided in 2017. A surprising twist toward the end of 2016 with the election of real estate magnate Donald Trump as president is likely to presage some dramatic changes in 2017 for the housing industry, which saw healthy increases in values this year, thanks to factors including low interest rates, lower gas prices, stronger wage growth and millennials getting off the fence and entering the market.
Still, as demonstrated by the Nov. 8 presidential election, anything can happen. Here are five things to watch for in real estate in 2017 — don’t get blindsided
ATTACK OF THE DRONES
Commercial use of unmanned aerial vehicles (UAVs) has been cleared by the Federal Aviation Administration and the use of drones by the real estate industry is likely to expand dramatically. If you have a property to sell with more than an acre of land or a unique perspective, then use a drone.
TEAM VERSUS SOLO AGENTS
As new real estate Millenniums enter the real estate profession, the creation of teams will increase. When interviewing for a listing, a home seller will pick a team versus a solo agent that has to do everything. Consider joining or forming a real estate team to have the advantage.
FORGET THE STARTER HOME, MILLENIUMS WANT TO MOVE-UP PROPERTY
More millennials – those born between 1980 and the late 1990 are expected to buy a first home in 2017. They saved enough money to go with something more than a condo unit or a starter home. Remember that in 2016, 17% of buyers under 35 were able to save enough for a down payment for a home within a year. Expect these numbers to increase.
TRUMP’S SHOCKING WIN COULD CHANGE REAL ESTATE
We don’t believe that there will be any significant change in interest rates, at least in the next term, since Trump’s underlying fundamentals is to grow the US economy and home ownership. He seems committed to bringing regulatory relief especially to the financial services industry, which should make more credit available to average home buyers who have been locked out of the market.
START THINKING ABOUT GENERATION Z
It won’t be long before Gen Z reaches the market. They’re teenagers now, Generation Z is almost reaching their 18th birthday in 2017. This generation is different and came of age in the midst of recession, war, terrorism and a stock-market collapse, and was burned by the housing downturn and crushing student-loan burdens,
Gen Z will come of age with low interest rates, better job prospects and higher wages to help cushion the high cost of college education.
The Al & Dee Real Estate Group can be reached at 228.374.0002 or via email at firstname.lastname@example.org. They are located at 10311 Boney Avenue, Suite B, D’iberville, MS 39540. To see the latest real estate listings and properties soon to be listed, visit our web site at www.alndee.com. Questions about this article, contact Al Allegue at email@example.com. Thinking about selling your home? Contact Dee at firstname.lastname@example.org or directly at 228.374.0002.