When it comes to real estate, every city and property type is different. What might happen in the San Francisco market is not necessarily the same in Atlanta. The forces acting on the office do not affect the industrial market. However, there are trends that are so big that they impact the entire industry, regardless of the market or property type. Such “metatrends” are so influential that they will likely change the real estate industry forever.

These big trends are forces of nature. And like nature, the complex interactions that make it up are not always easy to understand. “When someone tugs at a single thing in nature, they find that it is connected to the rest of the world,” John Muir once said.

But we have to stick to these trends. That’s why each year we challenge our writers to write an essay asking tough questions about what we think are the biggest and overarching trends. These questions and the answers to them can impact the entire industry and the rest of the world that connects to it.

decarbonization

PROPMODO METATRENDS 2023

Climate change caused by greenhouse gases is no longer a theory. We have already seen that the weather becomes more extreme as CO2 levels rise. However, although there is a general consensus among the world population about the need for CO2 reduction, this proves to be extremely complicated. One of the focal points of global decarbonization efforts are our buildings, which are of course among the largest energy consumers. Pressure from regulators, investors and tenants has already begun to push buildings in a more sustainable direction, but we can expect only limited action from building owners and operators. Because it is not the building itself that consumes energy, but the people in it.

Actually decarbonizing our buildings will require a team effort between the real estate industry, governments, utilities, financiers and occupiers. The task (and price) of reducing the carbon footprint of buildings around the world to the level we need to prevent climate catastrophe is monumental. There will be no path to our carbon targets without teamwork and sacrifice.

Accessibility

PROPMODO METATRENDS 2023

Creating a more inclusive environment is a hot topic right now. From protests to boycotts to corporate mandates, the inclusion movement has gripped every aspect of business. One aspect of inclusion where building plays a critical role is accessibility for people with disabilities. Disability rights may seem like a marginal idea until you learn that one in four Americans will be diagnosed with a disability at some point in their lives. The Americans with Disabilities Act is nearly 35 years old, but many say it’s not doing enough. We will likely see a renewed push to make buildings accessible to people with disabilities.

Offices are at the forefront of the shift towards a more accessible world. Getting people back into the office has proven difficult. Creating safe, accessible spaces will be paramount to the comeback of the office. What if offices could not only be accessible to people with disabilities, but could also serve them? Offices of the future must be designed for everyone, regardless of their physical or mental abilities.

office conversions

PROPMODO METATRENDS 2023

The return to the office is just around the corner, but even the most optimistic about the role of a physical workplace in our organizations will concede that some offices are likely to struggle with vacancy. Empty offices help nobody. The investors and drafters of the buildings are threatened with a loss. The areas surrounding them are losing valuable foot traffic. The municipalities that administer them lose out on tax revenue.

Many are proposing converting offices into apartments to reverse the trend of declining office occupancy. But these conversions are not as easy as many might think. In addition to the obvious obstacles such as plumbing and HVAC, office buildings have larger floor slabs and a lack of windows. We will certainly see a number of office buildings converted into residential buildings, but this will not solve some of the larger problems of unused space and empty inner cities.

Housing affordability

PROPMODO METATRENDS 2023

Housing costs have risen in most American cities. On the surface, it might appear to benefit the real estate industry; Higher rents and real estate prices create added value for real estate owners. But the reality is much more complicated. The strain that unaffordable housing places on our cities will create long-term problems that will eventually undermine the economies that need real estate to be valuable.

So how does the real estate industry relate to housing affordability? Is there a way for real estate owners and developers to use public opinion about affordable housing to transform our cities for the better?

The post Deciphering the Metatrends Shaping the Way forward for Business Actual Property appeared first on DAILY SAN FRANCISCO BAY NEWS.

HomeLight’s latest report confirms that the value of accessory homes (ADUs) has increased nearly 40% since pre-COVID, with 61% of agents agreeing that the most common use is to house homeowners’ parents; Meanwhile, golf community real estate has grown in value by 48%, driven by the increased interest shown by 30- and 40-year-olds in the game during the pandemic

SAN FRANCISCO (PRWEB) October 18, 2021

HomeLight, the real estate technology platform that is transforming the home buying and selling process for the top real estate agents and their clients, today released its Top Agent Insights 2021 Year-End Report, surveying over 1,000 top real estate agents on key drivers that will shape tomorrow’s living real estate market.

As the market settles into a quieter fall season – 62% of brokers report bidding wars have decreased compared to just 3% last quarter – new trends in multigenerational housing, the growing popularity of accessory housing (ADUs), and more and more young people, those who move to golf communities once known for retirees have emerged. The report paints a curious picture of how the pandemic has changed the meaning of “home” for retirees, their families and millennials after the housing craze.

More than a third of real estate agents saw an increase in ADUs in the past year, according to HomeLight. The value of ADUs has increased nationwide by 38% since pre-COVID times, from $ 47,597 to $ 65,908.

• This trend is more pronounced in the Pacific and mountain regions, where ADUs have historically been used as an affordable housing solution and 64% and 47% of agents, respectively, have seen an increase in these units since March 2020. The value of an ADU is highest in the Pacific region, adding an average of $ 116,931 to properties.
• Surprisingly, ADUs are also gaining in importance in regions where they have not always been so popular, such as the Midwest. The ADU value rose the most in the Midwest of any region nationwide, showing an average increase of 54% compared to 38% nationwide.
• The two most common uses of an ADU in Germany are to accommodate the owner’s parents living there (a trend cited by 61% of agents) or to support adult children who need temporary accommodation for financial reasons (35%). In third place are short-term tenants (tourists or vacationers). 32% of brokers state that these guests are likely to have ADUs in their market.
• Parent living is by far the most common use. This applies to all regions, although it’s a particularly prominent trend in the southern part of the US, where 67% of agents report that local homeowners often have parents who live in their ADU.

“We’re not seeing an influx of ADUs being used for short-term rentals, but we do have many buyers wanting an ADU for their aging parents,” said poll participant Aaron Kinn, a top real estate agent on the HomeLight network that serves the Dallas Fort Worth Metroplex in Texas. “This has been a common concern of many of our buyers since the outbreak of the pandemic in early 2020. They assume the room will be perfect for in-laws, and if not – it would be perfect for a second office location away from the others “of the house.”

As the report shows, an increasing number of near-retirees are withdrawing with their children in an effort to increase the popularity of multi-generational homes exclusively for older adults.

• The value of a property in a golf community has increased nationwide by 48% since March 2020, from $ 16,174 to $ 24,002.
• The Northeast and Midwest saw the highest increases in value that a Gulf community location adds to a property at 57% and 55%, respectively.
• Nearly a third of agents in the Pacific and mountain regions also say that in the past year, people in their thirties and forties were more likely to adopt the country club lifestyle than they did before COVID. Around a fifth of brokers in the Midwest have also noticed this unexpected trend – and how buyer preferences in their market have changed.

“There is a growing interest among younger people to settle near a golf course or golfing community,” said survey participant Kim Batterman, a top real estate agent on the HomeLight network in Appleton, Wisconsin. “In the past few years it was mainly people in partial retirement or retirement who wanted this type of property.”

Other important findings from the HomeLight Top Agent Insights annual report 2021:

• 85% of real estate agents say they are optimistic about the state of the real estate market.
• 95% of agents nationwide report the seller’s market conditions.
• The proportion of brokers who say property prices are rising in their market fell from 95% to 53%.
• Almost 50% of agents say price cuts are now more common in their market.
• In the past year, 51% of real estate agents saw that more properties were listed in their market on platforms such as Airbnb, VRBO or Homeaway.
• The value of outdoor fireplaces has increased 72% from $ 3,337 to $ 5,753 since March 2020. The Pacific region saw by far the most dramatic increase in the value of outdoor fireplaces, from $ 4,254 to $ 9,497, a whopping 123% increase.

For all results, download the full report.

Survey methodology

HomeLight’s Top Agent Insights 2021 full year report was released between September 1st and September 1st. January 2021 through an online survey of 1,029 top real estate agents across the country. Realtors were selected to participate in the survey based on the same performance data HomeLight uses to identify top real estate agents for over a million home buyers and sellers across the country.

About HomeLight

HomeLight is building the future of real estate – today. Our vision is a world where every real estate transaction is easy, safe and satisfactory for everyone.

The best real estate agents rely on HomeLight’s platform to deliver better results to home buyers and sellers at every step of the real estate journey, whether it be to enable a cash-only offer to free up the liquidity of their existing home to buy a new one, or to create security through a modern locking process. Every year, HomeLight enables thousands of brokers to sell billions of dollars in residential real estate on its platform.

Founded in 2012, HomeLight is a privately held company with offices in Scottsdale, San Francisco, New York, Tampa and Seattle, backed by prominent investors including Zeev Ventures, Menlo Ventures, Group 11, Crosslink Capital, Bullpen Capital, Montage Ventures , STCAP, Citi Ventures, Google Ventures and others.

Further information and images: homelight.com/press

You can find the original version on PRWeb at: https://www.prweb.com/releases/two_surprising_forces_shaping_todays_retirement_plans_young_people_moving_to_golf_communities_and_homeowners_building_adus_for_their_parents_according_to_homelight/pr .18

The post Two Stunning Forces Shaping At this time’s Retirement Plans: Younger Individuals Transferring to Golf Communities and Householders Constructing ADUs for Their Mother and father, In keeping with HomeLight appeared first on DAILY SAN FRANCISCO BAY NEWS.