Real Estate Predictions For The New Year

The following is courtesy of RISMEDIA and was written for the United States in general.  Palos Verdes real estate is unique and all items may not apply.  My favorites are numbers 5, 8 and 10.  I condensed a very long article but you may read it in its entirety by clicking here.  Enjoy!

  1. Building is back – After a couple of very challenging years, the market for new construction housing is showing signs of life.
  2. Apartments continue to thrive – If there has been one bright spot over the past few years in the real estate industry, it has been the rental market.
  3. Opting for established – 2011 will see builders move toward smaller neighborhoods or pockets of homes in established communities.
  4. Make it modern – Traditional and warm-modern design will be prevalent in 2011.
  5. Buying for the long term – The idea of a home as a short-term moneymaker is essentially gone, so when people do buy, they’ll do it with the intention of staying put for closer to 10 years rather than two to three.
  6. Upping the ante on amenities – Buyers will also place a higher importance on outdoor space in the coming year, especially those who live in an urban area.
  7. High-tech takes over – We will get to a point where homeowners can leave work and by activating an app on their phone have all of the home electronics queued up when they walk in the door.
  8. Smaller homes stay the course – 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.
  9. Green and gorgeous – As the green movement continues to grow, high-end builders and developers have found ways to make homes both green and gorgeous.
  10. Healthy homes – Indoor air quality, low VOC paints and adhesives, and all-around healthier materials are becoming more and more of a concern for people building homes – especially for those with children.

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