Let’s face it – the internet has had a slight influence on real estate in the last decade or so of its widespread use.  The real estate business has adapted slightly, but nothing like what’s just starting to happen.

Now that the net has grown up, the influence it has on real estate will be increasingly phenomenal.  As web 2.0 spawns real estate 2.0, here’s my best bet on where the action will happen.

Enhanced Maps

As internet mapping technology is rapidly improving, map-based integration with real estate is a sure thing.  Improved mapping technology will not only help home seekers narrow down their search to a specific geographical target area, but will also let them put other determining factors in a visible form factor.

Aspects such as average yearly taxes, school districts, and other demographic data will be easily overlaid right to the map.  These types of geographic information systems (GIS) have been in use by local governmental agencies for years, but now the average Joe will directly benefit from the same data.

Vastly Improved Virtual Tours

Actually, the use of the term “virtual tour” is kind of cliché.  It brings to mind the buggy, small panoramas from web 1.0 sites that make you feel like you have a bug’s-eye perspective.  The next generation of online tours will practically put you in a real home, not in a bubble.

Microsoft and many other companies are currently creating the platform that will make seamless photostreams a reality.  They’ll be full screen, high definition images presented to the viewer in a very natural and intuitive manner.  You can check out a demo of Microsoft’s Photosynth at the Microsoft Live Labs site.

Also, entire streetscapes will find their way to the tours of the future through integration with providers such as Google (who by the way is just rolling out their new Street View ability).  Have you ever experimented with Google Earth software?  If so, you’ll understand what I mean when I say you’ll literally be able to fly from space straight to the kitchen of your prospective new home.

YouTube Evolves

One of the coolest developments in recent years is the site that made video possible on the web, YouTube.  As video on the web evolves, expect to see more and more real estate listings adapt to fit the format.

I know video tours are already a frequent sight on YouTube, but I envision a spin off that would sort of be a mash up (combination) of Craigslist and YouTube.  Targeted listings made local.  As real estate agents adapt, tons of properties will be available for viewing online.

Imagine viewing professional hi-def video property showings on your flat screen TV right from the comfort of your favorite couch.  This is the next evolution, as living room televisions integrate with the internet.  No need to spend entire weekends searching for the perfect home when you can prescreen them before you even step out the door.

Real Estate 2.0 – Stay tuned for the next installation in the three part series…