Re: Three Trends in 2018
There are three macro trends coming together in 2018 that are likely to make this year one of the best of your career.
Let’s get to it.
1. Millennials – reports are that Millennials will make up as much as 40 percent or more of the buyer pool by the end of the year. Their paychecks are getting bigger and they are starting to look for larger homes. They are also starting to look into the suburbs vs. their downtown living to date.
2. Born between the 1995 and 2001, Gen Z’s are starting to exit college and they are entering the market. These folks have highly individualized tastes, so don’t be surprised when you start to see “different” trends enter the housing market. Tiny Homes for instance? Or how about highly automated homes? This market is packed with early adopters who have grown up around technology their entire lives.
3. The foreclosure crowd from 2008-2012 is re-entering the market. They may be taking a step back, but with their strong desire to be homeowners again, they are going to be cautious and will value getting a good deal.
We are already in a tight real estate market with slower volume and higher prices. It’s competitive for sure, but it’s also time to be realistic. Each of these market makers listed above brings a very different need to the market.
When you are considering buying a house to flip, or rent, keep in mind who the end user will be. If the house needs renovation, considering spending a few extra dollars on some automated or smart lighting. You can find an extensive list of smart bulbs that are available to use with the Amazon Alexa and a short list of switches at this link.
Oh, and don’t forget – the first WREIA meeting of 2018 is kicking off on Monday, January 15th, in Bethesda.
Join us as we talk about the “Top 10 Tips for Real Estate Investing Success in 2018”. Whether you need an extra 2k a month, or a blast of 30k from a flip, you are going to find gold at our 2018 January WREIA Kickoff meeting.
Reserve your seat at this link.
Enjoy the snow days while we have ’em! It’s a great time to get caught up on paperwork, taxes, planning and goal setting or just some good old-fashioned relaxing with a cup of hot chocolate.
Founder, Washington Real Estate Investors Association