The last few months have caused some major change in our economy. With a new president and many legislative matters in limbo, there has been a lot of uncertainty as to how the real estate industry, among others, will fare under this new administration. However, with a slowly increasing economy and stronger wages than previous years, there is much to be desired in the current real estate industry. In order to be well-prepared and successful this coming year, ensure your operation is protected by a comprehensive NM Real Estate Professional Liability insurance policy and consider the following insights.
Drone usage increase.
As the Federal Aviation Administration approved the use of drones for commercial purposes, we are expected to see a significant increase in them in 2017. In addition, while the use of drones to create those flyovers of properties for real-estate agents began to rise this year, home buyers and sellers will be able to use them as well by next year, as operators will no longer need a commercial pilot’s license to fly. However, some flights will need the FAA’s or local tower permission, along with a flight plan filed online, explains Market Watch.
All the benefits of living in an urban neighborhood are now being brought to suburban neighborhoods in 2017. The idea is that people can live where they have fun and work, rather than separating them all. In fact, these neighborhoods are being built to serve a wide range of incomes and housing types.
More than just a starter home.
As more millennials have been able to pay down student loan debt and build up cash savings, more homes are being purchased by this demographic. The NAR noted that in 2016, 17% of buyers under 35 were able to save enough for a down payment for a home within a year, compared with 14% of all age groups, explains the article.
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