How Much Do You Know About the Latest Technology in Real Estate? 👀

March 2022 Newsletter

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Today in this fast-paced world, we rely on technology more than ever. Each industry is creating advanced, revolutionizing tools to improve and automate the way they do business, and Real Estate isn’t falling behind.

Here are the 5 of the most important technologies shaping the industry today:

Big Data and Data Analysis

Big Data now completely influences the world, and Real Estate isn’t the exception. Data helps analysts predict crucial things like rent and property price changes, and can help investors reduce risk by predicting how the market will evolve short and long term.

Virtual Reality (VR)

One of the many practical applications of VR is to improve the way investors and realtors present their properties to potential buyers or renters. Walk-throughs and unedited video tours will make the property more appealing to out-of-state investors who will now be able to save time and money while making sure they really get what they want.

Smart Home Technology

Buyers are moving towards buying homes with technological amenities that make their lives more convenient and easier. Things like security measures, sound systems, thermostats, and smart lighting are features that will raise the value of the property and are no longer just for owner-occupants. These days, more and more renters are looking for smart homes or homes that are ready for their portable smart home technology.

Internet of Thing (IoT)

Paired with smart home technology, the Internet of Things has changed the way we live. IoT allows us to automate and improve appliances in a way that makes life better and safer. Imagine you live in a place prone to unexpected snowstorms and low temperatures. If you have a smart thermostat, you can link it to a system that allows you to turn the water off in your house when it reaches a particular temperature, so you can prevent flooding in case of a pipe bursting

Geolocation and Localization Tools

Location is everything in Real Estate. Besides helping the agents be more efficient and productive, the data collected by Geolocation and Localization tools can help investors see how the market in a specific area has evolved so they can detect patterns in prices and make a wise and informed decision when making their investments.

Jay Hartley MPM®, RMP®

Owner - Managing Partner

Office | 817.377.3190

Direct | 817.288.5546

Frontline Property Management, Inc.

3000 Race Street, Suite 132

Fort Worth, TX 76111

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Will Renters See Relief?

Lower Rent Payments in 2022?

Rentals have exploded across the nation, causing many to dig deep into their savings and risk eviction now that the federal moratorium has ended.

But could renters possibly see some relief in the coming months amid the ongoing COVID-19 pandemic? Will prices for apartments finally come down?

Monthly rental payments remain high

Brian Carberry, an expert with leading national consumer resource Rent.com, says rental prices started to skyrocket last summer, and monthly payments remain high for renters.

"It really boils down to supply and demand right now," Carberry told FOX Television Stations Group. "Occupancy rates are at an all-time high right now, so there’s just not a lot of available inventory on the market for all of these people that are looking for a place to live. That’s creating a lot of competition, so landlords are really able to price units a little bit higher than they normally would have."

According to the U.S. Census Bureau, rental vacancy rates during the fourth quarter of 2021 fell to 5.6%, the lowest since 1984.

"Without a lot of rental vacancy that landlords are accustomed to having, that gives them some pricing power because they’re not sitting on empty units that they need to fill," said Danielle Hale, Realtor.com’s chief economist.

Subsequently, in the 50 largest U.S. metro areas, median rent rose an astounding 19.3 percent from December 2020 to December 2021, according to a Realtor.com analysis of properties with two or fewer bedrooms. In addition, rental costs rose 0.5 percent in January from December, the Labor Department said last month. That may seem small, but it was the biggest increase in 20 years.

And with increased prices, experts say it has forced many people, including those who were finally ready to move away from family and friends they stayed with during the height of the pandemic, to reevaluate their living situations.

"With prices being so high, we’re also seeing a little bit of trend back toward people moving in with roommates or consolidating households again, because they just can’t afford to live by themselves," Carberry added.

So, will rental prices continue to accelerate?

Carberry noted that prices historically increase the most during the summer months, but overall, prices should start to level off this year. "I do think that rent prices are going to continue to go up, but I think that the rate of increase is not going to be as severe," he continued.

Hale echoed this sentiment. She expects rents to continue to rise in 2022, but at a slower pace, thanks to increased construction. "Improving supply growth should help create more balance in the market," she noted, forecasting rents to rise 7.1 percent in 2022.

"I don't think prices are going to go down any time soon, but I think they are going to start to level off. Everything is relative, but it's going to seem a little more comfortable for renters," Carberry added.

The Associated Press contributed to this story.

Disclaimer: This is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Consult with your own attorney, CPA, and/or other advisor regarding your specific situation.