5 Intriguing Trends to Track in Multifamily Housing

Across the United States, multifamily housing is a popular choice for those who live in cities, are on a budget or don’t want to own a home. In fact, there are more renters now than at any point since 1965. With this rise in multifamily housing comes a host of trends previously unseen. 

If you’re in the market for an apartment, consider the intriguing developments below.

1. More Control With Technology

Today’s tenants want more than a standard unit — they want a space they can control with the touch of a button. Fortunately, home hubs and integrated smart technology make that dream a reality. Using a phone or other Wi-Fi enabled device, renters can lock doors, turn on the lights, control the vacuum, switch on outlets and much more.

Experts expect the smart home market to reach more than $53 billion in value by 2022, growing 14.5% annually. Apartment dwellers enjoy the control and convenience these gadgets offer, with more connected devices likely hitting the shelves in the coming years. According to one survey, renters even prefer smart features over amenities like video surveillance and on-site child care.

2. An Abundance of Amenities 

With an abundance of competitors, multifamily housing complexes look to attract new tenants with exciting amenities. Some sights are familiar, such as swimming pools, fitness rooms and laundry services. Doorkeepers and concierge services also cater to tenant needs, such as collecting packages and directing visitors.

More sophisticated amenities are surfacing, as well. For instance, some units offer outdoor dog parks for pet owners or indoor play areas for children. Beyond the standard gym, you may find buildings with NBA-regulated basketball courts or full-service spa and therapy rooms. 

3. A Look at Affordable Luxury

With rooftop decks and terraces being must-haves for apartments and sky rise buildings, multifamily units can elevate the space in other, more affordable ways, such as with decor. Bamboo, a sustainable resource, has become hot in recent years and can be used for several projects. Bamboo fencing, for instance, can provide a building with privacy, plus offer a secure space for kids and pets.

Many building managers are also switching to sustainable furniture, items made from renewable resources, reclaimed wood or repurposed objects. Pieces such as multipurpose chairs or recycled plastic tables often mimic modern art and can liven up any apartment or common area. 

4. Eco-Friendly Living Options

Today’s consumers understand the dire state of the planet. As a result, they’re looking for ways to minimize their carbon footprint — including with housing. Many multifamily units cater to this desire by opting for LEED certification, a green building program that emphasizes efficiency in every aspect of design.

These green dwellings comply with environmental laws, reduce waste, offer access to sunlight and focus on renewable resources. Plus, they’re highly attractive to tenants. LEED-certified buildings command the highest rents, and vacancy rates remain 4% lower than standard properties. 

5. Work and Play Common Areas 

Apartments, especially in cities, are becoming smaller. Many buildings incorporate common spaces that resemble the look and feel of hotels to combat the claustrophobia. Residents can gather socially, relax or complete work in these areas, many of which include furniture and carpeting.

Rooftop decks and terraces are trendy, especially ones equipped with comfy seating, sound systems, TVs, outdoor kitchens and barbecues. Some complexes also add in-house cafes and coffee shops that serve food and beverages, spots that often offer USB ports and Wi-Fi connectivity. 

Top Multifamily Housing Trends to Look for in 2020

With so many people renting rather than owning homes, apartment complexes look for new ways to appease their tenants. From technology to common areas, these trends point toward a desire for maximum convenience and quality. How will multifamily housing change further in the years to come?

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5 Reasons for Investors to Embrace Sustainable Apartments

Green building is one of the fastest-growing industries in the United States. From consumer demands for more energy-efficient options to the increasing availability of eco-friendly alternatives, sustainability is a critical factor in the future of building.

Sustainable properties tend to have a higher appraisal value than standard buildings. In Austin, Texas, for example, a home built to LEED standards can add up to $25,000 to its resale price — an increase of 8% compared to traditional construction. Plus, some states offer incentives, such as tax rebates, for living in a green dwelling.

This trend is more than a shift in the consumer mindset. While green buildings come with a certain aesthetic, such as light-filled spaces and eco-friendly materials, the impetus for a new kind of construction is more significant. The built environment, including a structure's lifecycle — from development to demolition — accounts for 39% of CO2 emissions across the globe. 

Considering the current market, the best time to invest in sustainable design is right now. Eco-conscious apartments will save you money, increase the future value of your property and boost your brand reputation. 

1. Reduce Construction Costs

Green buildings can reduce the cost of construction by requiring fewer materials and producing less waste. One case of sustainable design includes zero-net-energy buildings, those that consume the same amount of renewable power as they generate on-site. 

Other examples include passive design, water conservation and the use of alternative building materials. One global survey found that 63% of construction firms have green commercial project plans in place. Integrated design from the ground up will save you money in the future by creating highly efficient spaces. 

2. Boost Resale Value

Sustainable features in apartments increase resale value. Renters seek out properties that offer components such as smart thermostats, renewable energy sources, water harvesting systems, daylighting options, occupancy sensors and more. 

From an investment standpoint, green initiatives increase new building values by 10.9% and existing structure worth by 6.8%. Especially in areas with tax incentives for sustainable construction, green assets pay off substantially in the long run. 

3. Save Money on Utilities

Green buildings not only save you money, but they also assist tenants in cutting costs. Utilizing Energy Star-approved fixtures and appliances, integrating renewable energy for electricity and reducing water consumption make a substantial impact on overall utility fees and lowers infrastructure costs. 

For example, green roofs can reduce the power required to cool a one-story building, though taller buildings can also see efficiency impacts. Green design creates long-term gains for investors and tenants alike, helping you monitor their energy spending and market the apartments as a smart rental option.

4. Improve Brand Reputation

Millennials and Generation Z hold the largest share of the target audience for apartments and other multifamily buildings. The majority of this demographic — nearly 75% of Millennials and 72% of Gen Zers — take sustainability into account when making a purchase, and are even willing to pay more. By utilizing green practices, you can advertise your building as a more eco-friendly option than your competition.

5. Raise Your Rates

Sustainable buildings are a step above the standard. Higher quality living space costs more, making it easy to charge higher rates for green apartments. People who live in eco-friendly buildings experience fewer health problems and a higher quality of life — including increased productivity, decreased absenteeism and fewer healthcare claims — making the higher cost worth the investment.  

According to one survey of green home dwellers, 42% choose their property for the health benefits, even above economic and environmental reasons. With sustainable apartments that meet buyer expectations, you can ensure you're ahead of the curve in offering the best value.

Investing in Sustainable Apartments 

When it comes to multifamily residential development, the building industry is looking for more sustainable alternatives. Apartment complexes, both old and new, can easily adapt to reduce their carbon footprint. Making simple changes, like installing energy-efficient appliances, using sustainable building materials and taking advantage of natural lighting, all make a difference. 

With population growth and the rising cost of housing, urban areas are seeing rampant expansion. Apartment construction has experienced a 34% growth rate in the past decade. Whether you are hoping to reduce construction costs or boost resale value, implementing sustainable practices is worth the investment. 

A look toward an eco-friendly future can also enhance your relationship with consumers. By taking an interest in infrastructures that benefit the environment, you seek to maintain the wellbeing of your tenants. 

Holly Welles is a real estate blogger covering design, finance and market trends for apartment dwellers. You can find more of her work on her blog, The Estate Update.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

How To Put Your Property’s Best Foot Forward

While in-person showings have temporarily turned to virtual ones, there are still certain steps one can take to ensure their property is in order for presenting to potential buyers. The following are five tips on how to put your property’s best foot forward as you only have one chance to make a good first impression.

Declutter

As people tend to move for space, it’s important to remove as much extra stuff as you can. From personal photos to travel mementos and certain books, they can be distracting to a potential buyer. The goal is to depersonalize the space so someone can envision themselves in it and not be distracted. Seeing large items such as suitcases and golf clubs make people wonder where they would put their own. One trick is to utilize under bed storage but if you are very short on space, there are services that will come and pick up your storage to temporarily store. 

Storage

In regard to storing items, this isn’t a time you can throw it all in the closet as those will be closely examined. Within closets, remove anything off the floors to show extra space making it look larger. Have similar hangers all in the same direction, with nothing falling off. You’ve got that one second when someone opens the door. For toys, gym equipment and the laundry room, ensure everything is displayed in an organized way such as color coordination for towels and consistent toy bins. It’s always better to have dedicated rooms for these things. 

Freshen up

Adding a fresh coat of paint to an apartment can help reinvigorate the space. We always advise a neutral color and using it throughout to present a clean, continuous feel that really opens the space. Decorating in the same neutral color palette helps to not distract from the space. While staging doesn’t always make sense from a price point, it is a nice touch if the apartment is empty as it will help highlight the space and its potential. If you have decorated in a specific style, staging can help depersonalize the space to appeal to a greater audience. As a buyer, it can be hard to see past someone else’s taste and this is where staging is helpful. 

Touch-up cracks and grouting

In New York City, most bathrooms are windowless causing them to seem dimmer and drabber. Regrouting and touching up cracks is a small investment that goes a long way to brighten up a space and seem infinitely cleaner. If there is a crack or leak from years ago that was never repaired, it will raise questions for a buyer. Be thorough in identifying spots that need a touch up from the bathroom to kitchen backsplash. Installing new vents if yours are rusted is also a nice touch. 

Check all electrical

Are all your lights working? It’s a small thing that you aren’t aware of except when they aren’t working. There is no particular lighting that will help you sale the home faster but it should be consistent and there is a thing as too much lighting. If you have electric blinds ensure these work and make sure all appliances are clean and running. If the AC or refrigerator have dirty vents and filters, they tend to cause a noisy distraction. 

Brown Harris Stevens’ top producing team of Nada Rizk and Joanne Greene boast more than 40 years of experience of helping sellers and buyers alike successfully navigate the sales process. 

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

How Fintech Is Changing New York Real Estate

The real estate industry undergoes frequent change, whether it comes to renting or buying. Technology is often a big part of these improvements. It has a place in every major industry, and handling property is no different. One major concept that's swept the market is fintech. 

This technology is taking over — especially among New York properties — and it's brought a wealth of gains with it. Learn about it while it's rolling strong, and you can benefit from a smoother way to invest in property.

What Is Fintech?

Fintech stands for financial technology, which aims to streamline financial services for businesses and consumers. This tech offshoot applies to numerous industries besides real estate — any company that carries out transactions can employ it.

Fintech is a segment of proptech, a portion of the real estate industry that uses technological resources to solve problems and complete tasks. Proptech involves innovations such as artificial intelligence and automation, as well as data collection and sustainability.

People often choose the newest and best methods when they want to accomplish a task. If you could streamline a tedious process that usually takes forever to complete, you'd likely pick relevant technologies. That's why buyers and renters often go to property dealers who use fintech — they offer shiny new alternatives to old systems.

The Expansion of Fintech

This efficient method of managing real estate has gained popularity within recent years. Companies are integrating principles of fintech by using blockchain technologies, digitizing their transactions and much more. The Jumpstart Our Business Startups Act, or JOBS Act, spurred the rise of fintech in the early 2010s. This law reduced some of the small-business regulations created by the Securities and Exchange Commission, which helped them secure higher funds.

Businesspeople viewed this law as an opening for new ways to earn money. They began brainstorming improved methods of managing finances and bringing in revenue. Fintech soon developed as a viable option, and it has grown ever since. Some real estate companies remain mostly traditional while incorporating technological advancements here and there. Others have fully leaned into this new sector to appeal to consumers and make their operations more productive.

New Developments in Renting and Buying

New innovations in fintech are developing fast in New York. Though California was once the capital of finance-based technology, New York City is edging in to take that title.

These advancements can make renting an apartment or buying a home more accessible to residents, especially considering the high cost of living. Here are a few areas of real estate that have benefitted:

1. Digital Mortgage Processes

Blockchain technology is a major component of cryptocurrency. Naturally, it also has its place within fintech. Blockchains decentralize money transactions by sharing them among a network rather than operating around a bank.

This technology eliminates double-spend issues and removes third parties, which lessens the costs of conventional mortgage processes. It also boosts the efficiency of property title searches and allows you to insure your place for less.

Related article: https://www.offthemrkt.com/blogs/must-have-apps-for-food-in-nyc?

2. Software and Algorithms

The platform Built enables banks to process their loans online, especially lenders who are overseeing construction projects. Loan lenders upload data from their construction project onto the site and quickly communicate with their hired contractors.

Collecting all their information in once place allows them to approve and manage more loans without spreading themselves thin. They can see their entire loan portfolio at a glance and make financial decisions as necessary.

3. Crowdfunding

Investors have turned to crowdfunding — also known as peer-to-peer lending — to gain direct access to the real estate market. This strategy is primarily popular among wealthy investors who meet the income and credit requirements that platforms establish. Investors lessen their risk by collaborating with developers on properties, and they also get to choose which projects to invest in.

4. Online Marketplaces

The fintech company Roofstock allows you to receive greater access to single-family housing investments. It offers numerous resources for people planning to invest in rentals, including property management tools.

You can analyze a listing's details, such as the payment history and title report, and make an offer to buy. You'll be able to remotely check in on your investment while a property manager handles the on-site tasks. Marketplaces like these allow for flexible, affordable ownership from any city.

FinTech Makes Properties More Accessible

These developments give you an idea of what to expect the next time you rent a new apartment or move to a new home. The New York real estate market is transforming to provide more access and remove the middleman.

Barriers to renting and owning can dissolve with time, but it will take broader acknowledgment and adoption of fintech. A revolution in modern housing could be on the horizon.

Holly Welles is a real estate blogger covering design, finance and market trends for apartment dwellers. You can find more of her work on her blog, The Estate Update.

Related article: https://www.offthemrkt.com/blogs/5-tech-innovations-set-to-change-real-estate-in-2019

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

The Top Luxury Finishes to Expect in 2020

Apartment and home trends are ever-changing in the world of interior design. Both buyers and renters desire spaces that embody function and beauty, no matter how costly they may be. After all, higher prices typically mean better quality.

High-end finishes have captured the attention of many residents looking for beautiful spaces. Beauty, practicality and durability are hard to pass up, especially when choosing your floors, countertops and other essentials.

As the new year comes closer, you can expect to see a rising preference for high-end finishes through 2020 and beyond. You may even find inspiration for your next rental or future home by watching the market. Here are a few things to look for in the luxury rental market for 2020.

1. Glass and Steel

Glass and steel are abundant in high-end apartments and homes around the world. Something about these two materials boasts extravagance — and when put together, they're unstoppable.

Australian architects, for example, have taken cues from American "starchitects" to create homes consisting almost entirely of steel and glass. Imagine the light, airy characteristics of floor-to-ceiling glass windows combined with the solidity of steel exteriors.

This style remains a favorite for a reason — less is more.

2. Wood Flooring

There’s no question that wood flooring has always been a beloved style choice for trend-focused residents. Hardwood flooring is undeniably handsome and lasts decades with proper care. It’s a luxury finish that is becoming even hotter thanks to advancements in sustainable production.

Newer reclaimed and recycled woods have come a long way from the styles of the past. Manufacturers often use reclaimed timber to create finished flooring indiscernible from newly created wood. Bamboo puts an attention-grabbing spin on a familiar concept — it looks and functions like wood but grows much faster.

Flooring manufacturers are increasingly looking to source local or sustainably harvested materials. Now, contractors can create fabulous floors without contributing to air pollution or deforestation. In 2020, expect more sustainable high-end floors to make a splash.

3. Quartz Countertops

Quartz countertops and floors are becoming a popular alternative to granite because of their beauty and increased durability. They provide a versatile finish that never compromises on style, creating a high-end look with practical value for homeowners or real estate investors.

Like granite, this material comes in a range of trending colors to suit modern design needs. Its remarkable resistance to stains is another plus, eliminating the worry of constant upkeep or resealing. As more renters and homebuyers seek longevity from their living spaces, quartz will continue increasing in the ranks for 2020.

4. Gold Fixtures

Make your kitchen or bathroom stand out from the crowd with gold fixtures. These add a pop of color to minimalist designs and fit seamlessly into more colorful apartment themes. The vibrant hue adds warmth to any room, creating a pleasant change of pace from the colder quality of steel.

A few well-placed gold accents can turn an apartment or home into an indisputable hub of opulence and taste. Gold accents come in finishes such as satin and matte to fit any style. Many residents use them as additional decor pieces, but more ambitious investors can build an entire room theme around this luxury look.

Gold fixtures are an easy way to add style to a minimal space. Look out for more rentals on the market with faucets, light fixtures and showerheads consisting of this metal.

5. Concrete

Concrete is becoming prevalent both for its look and its eco-friendly properties. Many consider cast concrete to be sustainable because of its low-energy manufacturing, and it can transform to fit numerous residential styles.

The sturdy material is also excellent for blocking out noise, which is a must-have for renters living among many other tenants. While apartment complexes made entirely from concrete may look industrial on the outside, the interiors show an elegance unique to high-end apartments.

Not convinced of concrete’s style potential? In one example, Swiss architect Gus Wüstermann's concrete creation combines affordability with luxury to create a high-quality place for a lower price.

Quality and Modernity Remain Supreme for Luxury Renters

Whether you're looking for a new place or exploring the market, there's much to see in luxury rentals for 2020. Property managers and real estate experts will be on the leading edge of modern design.

In a sea of options, you can stand apart from the crowd by prioritizing authenticity and uniqueness in your search for luxury properties.

Holly Welles is a real estate blogger covering design, finance and market trends for apartment dwellers. You can find more of her work on her blog, The Estate Update.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

10 Real Estate SEO Tips and Strategies for 2020

By Peter Minkoff

People rarely look at print ads when they are looking for real estate to rent or buy nowadays. Just like with all other stuff they are considering putting money into, they begin their search online, informing and educating themselves, and afterward analyzing the offer.

If you want your real-estate business to succeed, you need to make all of the content you put online easy for them to find. Statistics saying that 75% of internet users never scroll past the first page while about 30% of them just click the first result that comes up in their searches means there is some serious SEO business ahead of you.

Here are the 10 most relevant tips to make your real estate business flourish in 2020.

1. Find the right keywords

Keywords are the starting point of every SEO strategy, so it’s crucial that you use the right ones on your website and the other content that you publish. There are many tools available online that can help you find these keywords, and some of the most popular ones are Ahrefs Keyword Explorer, SEM Rush, and Google Keyword Planner.

Your goal is to find out the words your clients most often use when they’re looking for a piece of real estate to buy, sell or rent. To reach your target audience, it is very important for your real estate property to rank well in local searches too, so you need to find the right local keywords based on the areas of your service.

Besides your content, you should include keywords in the URL, page title, meta descriptions, and image alt tags. Still, you don’t want to overstuff your page with keywords, so make sure they don’t take more than 1-2% of the page.

2. Use relevant links

Google will reward you with better rankings if other relevant websites are talking about your real estate business so you need to create backlinks. In other words, authority sources should contain links pointing to your website. To be successful with link building, you need to reach out to trustworthy review or niche websites, as well as your local partners and media. Or hire a partner like backlink-masters to handle the workload for you.

3. Forget about the fluff

Still, your SEO efforts are hardly going to pay off unless your content is high-quality and tailored to fit the needs of your potential clients. Your every piece of content needs to add value to their lives, so it’s essential to address the most common problems of your target audience and offer them useful information or a solution. 

Forget about the content serving no other purpose than to be a vehicle for keywords and links, and shift to well-crafted pieces that will keep your users on your website longer, and boost their engagement. You can also try a serp simulator.

If you want to make your SEO more efficient but lack the ideas on the content you could create, consider hiring a local digital agency that could help you come up with a good and relevant content strategy. There are some great reputable agencies, such as a New York SEO firm Four Dots, which are affordable even for small companies, so it’s worth checking out their offer.

4. Be local

Google and Bing focus on local searches, so apart from offering useful and relevant content to your clients, you should also focus on making it local. You can write about schools in your area, sports or community events, give a review of a local restaurant – whatever best fits the informational needs of your clients. 

Related: Looking to buy and sell businesses, click here.

Try to spontaneously optimize your content and make it locally relevant. Use interactive maps, infographics, photos – such visuals add value to your content enormously.

5. Ask for reviews

The quantity and quality of the reviews your business gets to affect your ratings in the searches. In order to improve your online visibility, try to incentivize your satisfied clients to share their reviews or recommendations of your real estate business online. Reviews work best when they appear in several different places online, so you can have them on your website and get more Google Reviews, Yelp, as well as on Zillow, and Trulia.

Asking for reviews manually can be a tedious and time-consuming task. That's why you should look into tools that enable you to automate review collection altogether.

Make sure you respond to all the reviews, including the negative ones – it will positively affect your rankings.

6. Optimize for speed 

Consumers nowadays don’t want to wait longer than 3 seconds for the website to load. For every second added the bounce rate increases – a 1-second delay costs you 11% in terms of traffic lost, and 16% in terms of customer satisfaction.

Audit your content for speed and make all the necessary changes to make it run smoothly.

7. Optimize for mobile

As recent research shows, 72% of real estate buyers used their mobile phones to search for their new homes, and the similar applies to rentals. 

Both search engines and your prospect prefer mobile-optimized webpages, so unless your website displays well on smartphones and tablets, your business can suffer.

8. Use videos

Visuals, such as photos and videos, can bring the traffic and boost engagement with your site, thus increasing your rankings.

When it comes to real estate, such real estate marketing video content is essential, as property buyers love to browse and watch brand/property videos before making a purchase.

Learn about the ways you can optimize video content for faster loading.

9. Use social media

Use the power of social media to boost engagement with your content, and increase your rankings. Some of the social media channels most commonly used in real estate are Facebook, Instagram, Twitter and Pinterest, so make sure you have accounts there and post relevant content, often.  

Take a look at a few great real-estate Instagram accounts, and see how realtors can use their personality to promote their listings. 

10. Have a blog

Blog posts are a great way to create fresh and unique content for your website and attract quality traffic. Include them on your website too, and post high-quality, optimized pieces regularly and consistently.

 If you lack ideas, here are a few suggestions to begin with:

• Make a list of 10 best business websites in your area,

• Thank your favorite clients and say what they helped you learn,

• Write about all the parks in the area and what they’re offering,

• Make a list of five most beautiful properties on the market,

• Write the list of the best real estate apps your prospects can use, 

• Review the best places for a romantic dinner.

Many realtors use their personal websites to promote their business, adding their genuine tone and approach to the real estate. Check them out to get the ideas.

Use these techniques to boost your rankings, and enjoy all the benefits of successful SEO in the year to come.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

Real Estate Trends in the Six Biggest U.S. Cities

Renters and property investors alike should stay up-to-date on the latest real estate trends. Buyers looking to invest in city real estate will benefit from knowing what's happening in the industry. But which city will yield the best return on investment?

Real estate market trends are constantly changing, so staying up-to-date and well-informed is crucial if you're looking to invest in a home, condo or rental property. Here’s an overview of the top six biggest cities in the U.S.

1. New York

The balance of power has shifted to buyers in New York City as both sales and prices of condos fell sharply in the third quarter of 2019. The median sales price has dropped 8.2% in the last year. As properties sit on the market for longer stretches of time, sellers lower their prices in hopes of selling.

This doesn’t mean the city is necessarily any cheaper for residents — New York is still home to 28 of the top 50 most expensive ZIP codes in the U.S. With no shortage of buyers in Manhattan, however, deals will continue to close as sellers become more willing to lower prices.

If you're looking to buy and hold on to your investment for a few years, now is the perfect time to take advantage of these lower prices. If you're looking to sell, it may be smart to hold onto your property and wait for the market to shift in your favor.

2. Los Angeles

The Los Angeles real estate market is a bustling hotbed of activity for both buyers and sellers. Home values have never been higher, yet the buyer demand remains even as prices continue to increase. The median rent in the city is $3,607 and rates are expected to grow. Forecasts predict the median home value in L.A. will increase 2.5% in the coming year.

An implicit lack of housing will continue to boost home value, meaning more people will rent. As they do, rent rates will increases to match demand, making buy and hold strategies very appealing. So, if you're looking to invest in the L.A. real estate market, consider doing so soon.

Buying a home or rental property now could result in years of appreciation if the predicted market forecast comes to fruition.

3. Chicago

Now is the perfect time to both sell and buy in this bustling city. Overall, home prices remain high and inventory is on an upward trend. Additionally, mortgage rates are nearing historic lows. What does this mean for investors?

The mid-range housing market is becoming increasingly competitive as buyers are choosing these homes over high-end luxury homes. However, sale prices on large houses that have been on the market for months — even years — are starting to attract buyers.

This trend signals stability and spells balance for the market's future. Property owners should feel a boost in confidence after Chicago's intimidating bidding-wars of recent years.

4. Houston

A lack of demand for higher-end homes is taking a toll on Houston's housing market. A growing number of homes are selling slower, for less than their listed price. This dip in the real estate market appears to be driven by prices rising more quickly than investors can afford.

A depreciating market won't impact all properties the same, however. Prices of mid-range homes are on the rise, while softening is more obvious at the luxury end of the market. That being said, the market's future is uncertain. While massive foreclosures are unlikely, property appreciation may come to a halt and selling could become increasingly difficult.

5. Phoenix

Investors and buyers in the Phoenix area are competing for limited inventory. The city's housing market proves to be one of the tightest in the nation since population growth has prompted an increasingly high demand for homes. New residents have moved to the area in hopes of escaping more expensive markets. But, there's simply not enough supply in the face of this demand.

Many investors are worried about a housing market crash, but these concerns are currently unwarranted. Home prices in the Phoenix area are likely to increase into 2020 and then rise more slowly throughout the year. Then, affordability issues will begin to creep in, which could decrease demand. That being said, it's still very much a seller's market in Phoenix. 

6. Philadelphia

In some parts of Philadelphia, the housing market is as fruitful and busy as ever. Housing prices are still growing, having risen nearly 46% in the past seven years. The population has increased and thousands of vacant units have disappeared.

This unprecedented growth has become an essential part of Philly's economy and urged many to move to Philly before prices increase even further. The economy is supported by opportunities in government, health, construction, and a dozen Fortune 500 companies. There’s a great balance between job growth and real estate prices for new residents.

The rapid increase in prices may be, in part, due to a decreasing supply of housing, just like in L.A. However, were a recession to come, experts say Philly is in a strong position to weather it. The city and its suburbs' markets tend to be dependable, meaning prices don't rise as high as other metro areas during boom times. Likewise, prices wouldn't drop as low during a recession. 

Navigating Real Estate Trends in the Six Biggest U.S. Cities

A well-informed property owner is better able to set themselves up for success. So, whether you're buying or selling, it's important to know what you're getting yourself into first.

Research trends in your city of interest and stay up-to-date on changes in the housing market and economy. Doing so will ensure you make a wise investment at the most opportune time.

Holly Welles is a real estate blogger covering design, finance and market trends for apartment dwellers. You can find more of her work on her blog, The Estate Update.

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Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

It's Time To Think Outside The Real Estate Box

When it comes to real estate, there are a whole lot of different challenges that you have to consider. After all, while real estate might be one of the best investments available in the modern world, that doesn't mean that it's always going to be easy. In fact, it's often as difficult as any other full-time job all by itself. However, a lot of the time people trying to invest in real estate end up shooting themselves in the foot by not considering things that they could be doing to make their lives easier. With that in mind, here are some ways that you could benefit from thinking outside the real estate box.

Be open to different options

A lot of the time people who want to start investing in real estate have something of a fixed notion of what they want out of potential properties. Sadly, this notion is often rather narrow and ends up hampering their ability to find a property that would be the best possible investment. If you're fixated on investing in houses then you'll miss out on the fantastic opportunities that come with investing in apartments, and vice versa. This also extends to everything from property styles to locations to the state of repair. Your needs as an investor are going to be unique so don't box yourself in thinking that there's a "correct" kind of property that you're after.

Consider building

One option that far too many potential investors fail to look into is the possibility of building the property yourself. If you find a great, undeveloped piece of land for sale then that's a fantastic opportunity. After all, if you're careful, it doesn't need to cost any more than buying a property and you have a whole lot more control over how it ends up. This means that you can be sure that it's the investment that you really want to be making and you can get the best possible return on it.

Look further afield

When you're trying to buy a property for your own personal reasons,  you're obviously going to be limited in terms of where you look. However, if you're investing in a property then there's no reason why you can't extend your search a little further afield. For example, if you consider buying a property in Andorra then you could well find something absolutely beautiful that not only would you not find at home, but you may well also get a far better deal. The reality is that there's a whole world of amazing properties out there waiting for you to go any find them.

The truth is that there are so many different ways in which you may be able to invest in real estate that sticking to any single way of thinking is just going to hamstring your ability to really make the most of any opportunity that comes your way. Investment, like anything else in the modern world, is constantly shifting and changing. You need to be willing to change along with it.

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