Top 10 Real Estate Trends for 2014

Top 10 Real Estate Trends for 2014
The housing market has undergone significant changes over the last several years. Now, with the economy on the rise, properties are beginning to move as buyers and sellers enjoy the benefits of an active market. Here are the top real estate trends for 2014 that will play a major role in the types of property that are available as well as their value.

1. Millennials are Influencing the Market
Whether they buy or rent, millennials have a reputation for being willing to relocate if that is what it takes to reach their goals. Over the next five years, over half of all millennials plan to be in the market for housing, and developers are building in urban areas to meet their demand.

2. Second-Tier Cities are Gaining Leadership
Cities that were on the hot list for development are now being passed over for more lucrative options in areas that were once considered second-tier cities. Areas such as San Francisco, Austin and Orange County are now moving up to the top tier, and buyers can expect to have more options here.

3. Job Growth Impacts Market Recovery
Developers are now focusing on areas where new jobs are being created. The sudden increase in new job opportunities is also encouraging more buyers to relocate to upward-moving cities with plenty of room to grow.

4. Interest in Multi-Family Apartments Is Waning
Now that the economy is stabilizing, buyers are more willing to make a long-term investment in their home. The decline in potential renters is also influencing builders to hold off on multi-family apartment development.

5. The Smile Philosophy is Making a Comeback
As the housing market makes its recovery, the smile philosophy is also making a comeback. Those interested in building or buying homes can expect to see more opportunities in the states that fall in a smile line from Florida down to Texas and back up to California.

6. The Buyer/Seller Market Ideology is Shifting
In the past, the real estate market would generally be tipped in either the buyer’s or the seller’s favor. For 2014, both groups have an optimistic outlook that comes from renewed development, lower interest rates and the increasing willingness for lenders to take risks.

7. Developers Are Taking the Dual Track Option
Developers are aiming to capitalize on the current trends by building multi-family apartments that can be shifted over into condos as more buyers arrive on the market with a preference to own their property. This dual track option holds the power to transform entire communities over the next several years.

8. Senior and Single-Family Housing is on the Rise
Millennials may be leading the way; however, senior adults make up a large portion of buyers who are seeking single-family homes for their retirement. Like millennials, seniors are also seeking out homes that offer easy access to neighborhood amenities.

9. Smaller Personal Spaces and Larger Communal Areas
The super-sized master bedroom is now on its way out. Instead, developers are picking up on the interest in larger communal areas and building bigger kitchens, backyard spaces and living rooms where buyers can gather with family and friends when entertaining.

10. Location Plays a Stronger Role in Future Property Value
Buyers with an interest on increasing their property’s value will need to keep their focus on the outlook for its location. Over the next several years, the market will continue to shift toward increased interest in urban homes located within walking distance of public transportation and local businesses. Shopping for a home with an eye on the future is the best way to maximize on the investment.

The Ultimate Concierge Real Estate Experience

Tanya Dzhibrailova, Realtor, #1 TOP PRODUCER Company Wide 2013 – Zephyr Real Estate
TOP PRODUCER Company Wide 2004-2012 – Zephyr Real Estate
M:415.531.6779 E:[email protected]
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