of how we’ll see technology further expand into real estate.
NEW AMENITIES EMERGING Just 20 years ago, many apartments didn’t have access to washers, dryers, dishwashers, and other basic amenities. Now, these appliances are expected. Heading into 2023, expect property owners, landlords, and builders to differentiate themselves with even better amenities to attract quality tenants. Some of these amenities may include a movie theater, terrace, pet grooming facility, or dry cleaning services. The market is extremely competitive; expect owners to go above and beyond to attract businesses and individuals. In summary, 2023 is shaping up to be a remarkable year for real estate owners and investors. Prices will likely move higher as interest rates decrease, millennials will likely continue to move out of first-tier cities and into second-tier cities, and technology is becoming more intimately connected to the industry. Keep in mind this is , not an exhaustive list. Expect capital to continue to flow into the space and traction within the industry to continue to grow. •
of homebuyers today do not have the capital to purchase in these areas. Instead, they are opting for up-and- coming cities with more affordable pricing and a younger population. Second, the infrastructure has improved greatly in tier-two cities. In the 1990s and early 2000s, only major cities had the infrastructure
due to the state’s favorable laws and infrastructure. Tampa has grown as well because Florida has no state income tax and a favorable work-life balance atmosphere. Look out for this migration to pick up steam in 2023. NEW TECHNOLOGY CONTINUES TO EXPAND Technology has been a force to be reckoned with over the past 20 years, disrupting and advancing many industries. However, real estate has been slow to adapt. As new money comes in and younger people discover the industry, expect that trend to reverse course. New workflow tech management companies, tech-enabled smart home applications, and the internet of things are just a few examples
to withstand large groups of city-goers. That has changed
drastically and will only get better heading into 2023. Now, most cities in America have access to public transportation, a nearby airport, and a strong city center. Third, local governments have reduced taxes and created incentive programs to encourage new residents and businesses to move into their states. Austin, for example, has become a new hub for major corporations such as Tesla and Dell
Ryan Zomorodi is the co-founder and COO of www.RealEstateSkills.com, a real estate investing education platform that has trained thousands of students across
the nation to start and grow real estate investing businesses. Zomorodi is the managing editor of the Real Estate Skills blog, which has been ranked as the #1 real estate wholesaling blog on the web. He has more than 10 years of real estate investment and management experience, including acquiring more than 100 homes for flip, wholesale, and rental across a dozen states.
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