Real estate investors in California may be interested to learn about the topics that were discussed at the National Association of Real Estate Editors conference that was recently held in Miami. During the weeklong conference, housing economists and other industry leaders talked about the trends that they are noticing in the real estate market and what they expect to happen in the next year.
One of the topics of discussion at the conference was the growing Chinese real estate investment boom. From March 2014 to March 2015, Chinese home buyers purchased $28.6 billion worth of real estate in the U.S., which is double what they spent on U.S. real estate the year before. Around $10 billion of those investments were spent on properties in California.
Another topic that was talked about at the conference is the trend towards online home shopping. Now, 90 percent of home searches start by clicking on websites like Zillow rather than by visiting a real estate agent in person. Conference speakers also discussed the trend towards more rental houses. According to the CEO of HomeUnion, real estate investors can benefit from falling home ownership rates by purchasing houses and renting them out. Hotel occupancy rates are also going up, but hotels are facing stiff competition from vacation rental sites like Airbnb and VRBO.
A person who would like to invest in commercial real estate has many different options. An attorney may be able to help a new investor identify some of the best opportunities for commercial real estate investment that may be available to them in the area and then assist with the preparation and review of the required documentation.