Tech & Artificial Intelligence
Technology is having a dramatic impact on the real estate industry. The Internet has become the default tool in the home search process with nearly 95% of home buyers using it to search for homes and 17% have conducted some variation of a digital closing. Technology is changing the way that agents, brokerages, buyers, loan officers and title agents operate. Artificial intelligence is powering digital brokerage platforms, accelerating the speed from offer to close dramatically.

The Rise in Opportunity Zones
In order to leverage available properties in areas that are underdeveloped, municipalities are learning that Opportunity Zones are clearly a method to attract investment dollars. An Opportunity Zone is generally composed of economically distressed communities that qualify for the tax code discounts to drive investment capital into areas,

The Millennial Population Entering the Market
Millennials are here and now represent the largest cohort of homebuyers, representing 37% of all homebuyers. According to Pew Research, the Millennials represent more than 73 million Americans. Understanding the specific priorities and preferences of the Millennial buyer will be key to targeting them as buyers.

The New Build-To-Rent Market
With inventory shortages approaching crisis levels, the build-to-rent sector is gaining popularity as an investment strategy within the real estate industry. This trend is fueled by inventory shortages, economic growth and increase in wages. Rent-to-buy is proving to be a viable option for real estate investors and those potential buyers who are saving for a down payment.

If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.

Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.

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