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Top 10 list details issues in real estate

Every year, realtors in Florida and across the country look to Chicago where a report listing some of the top issues that are predicted to have an effect on real estate is produced. This report emerges around the end of the second quarter, and it is used by individuals and businesses to anticipate potential challenges that may arise in the next 12 months.

According to the Counselors of Real Estate, the biggest impact on residential real estate over the coming year will be the demographics of buyers and sellers. More baby boomers will be selling and downsizing their homes. Meanwhile, more millennials will be in the position to buy or postpone buying property. These buyers look for more amenities and communities they enjoy. Another big influence on the market is expected to be rising interest rates. For the last several years, buyers have enjoyed some of the lowest interest rates in history. However, investors and buyers are preparing for interest rates to finally go back up. This could cause some buyers to postpone buying due to higher mortgage payments. However, other individuals may choose to buy now before the rates go up.

Another issue predicted to affect real estate transactions is the amount of excess capital flooding the American real estate market. Foreign investors are looking for safe investments, causing many to choose to invest in real estate in this country. This influence is most noted in large cities. However, some smaller cities have also reported receiving increased amounts of investments from foreign investors. Multi-family units are particularly popular. The report also included discussions on currency instability, changing real estate models and crowdfunding.

Those who are considering purchasing or selling real estate may choose to discuss their options with a real estate lawyer. Legal counsel may be able to inform them of effects in the marketplace and their impact.

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