Wednesday, December 22, 2010
EIGHT NEW REAL ESTATE PREDICTIONS FOR 2011
1.) New construction is back:
Three years of little or no new development is now showing slow signs of activity. A uptick is expected over 2010.
2.) Rental market will stay strong:
Demand will be greater than supply with nearly 95 % occupancy rate.
3.) Extablished neighborhoods:
Folks will look for communities that have mature landscaping while being closer to the city.
5.) Longer term buying:
Flipping as a moneymaker is not in the cards. Staying 10 years or longer are the thoughts when selecting property to live in and will result in a more careful decision making process. Reviewing floor plans and the ability to add on as the family grows will be on top of the list.
6.) More amenities:
Developers will be marketing more amenities to attract the new buyers. Outdoor space for grilling and fenced in yards for pets are a few on the list. A smaller footprint and a better design of the floor plan is also on top of the list.
7.) Technology:
Wired for the internet for entertainment systems and the ability to control lights, air conditioning, heat and monitor for security remotely will become in more demand.
8.) Smaller green/healthy homes:
The average size of a new home decreased for the first time in decades from 2008 to 2009, and that trend will continue into 2011. Folks will not be buying more than they need. Using products from recycled or sustainable building material are strong considerations by people with allergies and young children.
1.) New construction is back:
Three years of little or no new development is now showing slow signs of activity. A uptick is expected over 2010.
2.) Rental market will stay strong:
Demand will be greater than supply with nearly 95 % occupancy rate.
3.) Extablished neighborhoods:
Folks will look for communities that have mature landscaping while being closer to the city.
5.) Longer term buying:
Flipping as a moneymaker is not in the cards. Staying 10 years or longer are the thoughts when selecting property to live in and will result in a more careful decision making process. Reviewing floor plans and the ability to add on as the family grows will be on top of the list.
6.) More amenities:
Developers will be marketing more amenities to attract the new buyers. Outdoor space for grilling and fenced in yards for pets are a few on the list. A smaller footprint and a better design of the floor plan is also on top of the list.
7.) Technology:
Wired for the internet for entertainment systems and the ability to control lights, air conditioning, heat and monitor for security remotely will become in more demand.
8.) Smaller green/healthy homes:
The average size of a new home decreased for the first time in decades from 2008 to 2009, and that trend will continue into 2011. Folks will not be buying more than they need. Using products from recycled or sustainable building material are strong considerations by people with allergies and young children.
