Mansions - 2 Real Estate Markets to Keep an Eye on in 2019

2 Real Estate Markets to Keep an Eye on in 2019

As 2018 was coming to an end, everyone had a different opinion about what the real estate field would be like in the following year. Some said that the market is going down.

Others cited the pricing spikes that usually hit the market, while some said that there were too many properties coming to the market. Some also indicate that the low number of buyers is worrying.

Thankfully, these people were wrong. Or rather, they weren’t totally right to be exact. The truth is that coming into 2019, there are a great number of markets that are heating up this year.

Let’s take a look at several markets that you should keep an eye on in2019.

Viva Las Vegas

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First and probably most surprising is the market of Las Vegas, Nevada. Several years ago, Vegas was the definition for having too much real estate to do anything with. It was the picture-perfect spot for what a housing crash looked like.

Thus, in the previous years, people could drive around Vegas and see the many foreclosed houses littering the area.

This year though, Vegas is rebounding at an unprecedented rate. This primarily has to do with the low mortgage rates that the past has bestowed on to Vegas. At the same time, the cost of living is much lower than other states.

There are other factors in play here as well that should be taken into consideration. For one, there is no income tax in Nevada. Tech companies are also helping to bring people to Nevada as younger professionals are seeking affordable places to live in.

One source says that houses that cost more than $300,000 are being bought up like they were on a buy 1 get 1 free special. The source indicates that there are multiple offers for these houses as well.

Flowing Down Grand Rapids

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Next up we have Grand Rapids, Michigan. This place is a classic example of the saying, “you never know what’ll happen” at work.

Initially, Grand Rapids was a town full of factories. However, when that industry went over the waterfall so to speak, the town continued to rely heavily on manufacturing for its main source of income.

At this point, the general assessment of the area was that it isn’t one that has a diverse job market that can help so many people.

However, something did happen due to how Grand Rapids was. Due to it state, cost of living went down. The prices for the houses followed downward as well.

All of this has caused the economy to surge. There are no signs pointing that the economy of Grand Rapids will be going down anytime soon. In fact, the opposite is true.

When other companies saw this, they began to flock to Grand Rapids to expand or even reposition their businesses there. Nearby is the Medical Mile. This is a massive area that is lauded for the quality research taking place there.

All of this has caused the economy to surge. There are no signs pointing that the economy of Grand Rapids will be going down anytime soon. In fact, the opposite is true.

Amazon will be building a massive facility nearby soon that is sure to bring a whole lot of jobs and opportunities to the area.

These are only a couple of markets that are heating up to be red hot in 2019. If you are chasing opportunities, keep these places in mind and keep your eyes open and ears peeled for more of them.

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ColorfulRealEstateBuildings - 2 Exciting Real Estate Tech Developments

2 Exciting Real Estate Tech Developments

There are some people who would argue that technological developments are responsible for pushing the world forward into what it is today, as well as what it will be turning into in the future.

It all started with fire. Then the wheel. Agriculture. Society’s necessities such as clothing and housing and cooking. And so on.

Today, technology continues to evolve, making our lives easier and more convenient. Smartphones get smaller and have more features. Driverless cars are zooming onto our streets. And in the same way, technological trends are coming in to help the real estate industry.

Here are two exciting real estate tech developments to look forward to.

Virtual and Augmented Reality

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The first tech development we’ll be taking a closer look at is virtual reality (VR) and augmented reality (AR). VR transports you to another world or setting while AR does the same but allows you to change and manipulate objects or your surroundings.

When people hear these terms, they usually think in the same vein as video games for instance.

Quite recently, some good virtual reality games have hit the market. These are great milestones and turning points for video games in general. It adds a new element where it feels like you are truly in the game.

These pieces of technology can be developed for real estate as well.

When prospective buyers are looking for a home, they usually look at the listings first and find a place and price they think is reasonable. Afterwards though, a whole lot of questions about the place pop in.

Does it have a garden? How big is kitchen? What does the bathroom look like? And so many more.

When VR and AR are fully and more easily developed, it can be made so that agents can show a simulated environment of the property to buyers. Through this, they can get a better look at the property that will allow them to visualize and make up their minds.

At the same time, AR will allow agents and buyers to place objects around the house. They can put pieces of furniture, curtains, appliances, and manipulate it to their liking. In this way, they can see how the house will look if they were to fix it up. 

Real Estate Blockchains

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Next up, let’s look at real estate blockchains. First, let us define what blockchain is.

Blockchain is actually a technology that was used for cryptocurrencies. This piece of technology is much like a digital ledger that records all the transactions that happen for certain things.

The good thing about this? First of all, the digital ledger is public. It is not hidden behind certain rules.

Next, this set up allows us to eliminate the need for someone from the bank to step in and record the transactions. It is essentially cutting out the middle man. In this way, certain legal fees are taken out altogether. It also means that things will move at a faster rate.

While these are only a couple of technological trends for real estate, we hope that this has excited you for the coming technologies that will change the way things work.

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