Amenities Trending With Buyers

Amenities Trending With Buyers. Image courtesy of photostock / FreeDigitalPhotos.net

Several home features are gaining momentum in real estate. Here are four that home shoppers are showing more desire for, according to a recent article at CBSHome.com. You may want to talk these features up in your listings.

• Energy efficiency. Bigger used to be better in real estate, but the cost of maintenance and particularly the heating of bigger homes has prompted some buyers to be less tempted to supersize their digs. Many buyers are being swayed with homes that are more economical to maintain and also have a warmer, cozier vibe.
• Modern, up-to-date kitchens. Remodeling a kitchen can be one of the costliest home improvement projects to take on. That’s why many buyers are looking for a kitchen that already has been updated. They’re looking for sleek, modern looking kitchen with stainless steel appliances.
• Smart home options. More buyers are looking for homes that they’ll be able to smarten up now, or down the road. For example, home buyers are showing greater desires for thermostats that can be adjusted with their mobile device to being able to unlock doors via Bluetooth. Smart home features can be a huge draw that makes a home more modern, according to CBSHome.com.
• Color pops. Neutrals can help home buyers envision the home as their own, but color has been shown to be a draw for younger buyers in particular. “With bright color making a design comeback, a brilliantly bold sink or appliance can be the type of risk that pays off and has the potential to sway the right kind of home seeker,” according to CBSHome.com.

Source: “The Top 5 Home Features That Buyers Are Hunting for This Fall,” CBSHome.com

Parents Struggling to Kick Adult Kids Out

Parents Struggling to Kick Adult Kids Out. Image courtesy of patrisyu / FreeDigitalPhotos.net

The job market for young adults has been improving gradually since 2010, yet the number of young professionals living with their parents is continuing to climb. At the beginning of this year, 26 percent of millennials – those aged 18 to 34 – are living with their parents, according to the Pew Research Center. The trend is most pronounced among 25 year olds.

Indeed, 30 percent to 50 percent of 25 year olds were living with their parents in 2013, depending on the state, according to a report by the Federal Reserve Bank of New York, released in September. The Northeast and West coast have seen the largest increases in millennials moving in with their parents.

But financial analysts warn that the growing number of young adults living with their parents threatens their parents’ retirement financially and psychologically. Fifty-two percent of baby boomer households that have children but don’t support them are retired. Yet, only 21 percent of baby boomers who do support adult children are fully retired, according to a March 2015 study by Hearts & Wallets, an investment and retirement research firm. What’s more, baby boomers who support adult children are 25 percent more likely than other baby boomers to report moderate to high financial anxiety, the survey shows.

That’s why financial planner Jeff Rose it’s time for baby boomers to show some “tough love.” Rose, founder of Alliance Wealth Management in Carbondale, Ill., says baby boomers shouldn’t allow their adult children to move back home, even when they struggle to find a job or manage their money. If they do absolutely have to move back home, Rose says they need to pay rent and the terms need to be inked on paper.

“No casual handshake — or hug — and hold them accountable,” he says. If they aren’t willing to sign the agreement, they shouldn’t be able to move back in, Rose says.

Source: “Kick Adult Kids From the Nest, Speed Your Retirement,” USA Today (Oct. 31, 2015)

House Problems That Spook Buyers

House Problems That Spook Buyers. Image courtesy of moomsabuy / FreeDigitalPhotos.net

The big ugly of house problems: Foundation issues, mold problems, and water damage. The three issues have the potential to cost thousands in repairs to home owners or buyers.

• Foundation issues: Foundation problems can reveal itself such as by cracks in the walls, uneven floors, or trouble opening and closing doors. If ignored, the problems can get worse. Most issues can be easily resolved but it can be costly.
• Mold: “Once mold spores take root, they colonize quickly, feeding on common items in the home like clothing, paper, cardboard, etc.,” according to a recent blog post at RISMedia’s Housecall. “In addition, mold poses a significant health hazard, so it’s a problem you shouldn’t ignore.”
• Water damage: If you spot water stains on the ceiling, be alarmed. Roof issues like ice dams, missing shingles, or damaged flashing could also be allowing water to seep into the home. Water damage can cause wood to rot or mildew and moisture issues.

Home owners can avoid these scary house problems from surfacing with regular checks by professionals of the condition of the home’s foundation, roof, plumbing, electrical and HVAC systems.

Source: “Scary Home Problems That Could Raise the Dead,” RISMedia House Call Blog (Oct. 17, 2015)

How We’ll Avoid Another Recession

How We’ll Avoid Another Recession. Image courtesy of cuteimage / FreeDigitalPhotos.net

The economy may be showing signs of slowing lately, but the housing market is likely to keep its positive momentum rolling, writes Lawrence Yun, chief economist for the National Association of REALTORS®, in a new column for Forbes. In fact, he predicts that it will be housing market gains that enable the overall economy to avoid a recession.

Indeed home sales, construction, and prices have all been rising and are expected to continue to increase. Over the last year, existing-home sales have risen 7.9 percent; new-home sales are up 17.7 percent; housing starts have risen 12 percent; and the median price of sold homes is up 6.4 percent (all along on a year-to-date basis).

The main reason behind the gains is a rising population, Yun notes. At the turn of the century about 282 million people were living in the United States, but that number has jumped to 322 million today. Taking into account births and deaths and international immigration, about 2 to 3 million additional residents arrive in America every year.

“As long as Americans believe in the American Dream of steadily moving up the economic ladder – from renting to a starter-home to a better home to eventually a retirement comfort home – there are plenty of legs in America that will be moving around in the upcoming years to further boost the housing market,” Yun writes.

Source: “Housing Will Still Expand Despite Economic Weakness,” Forbes (Oct. 26, 2015)

Home Designs That Buyers Love Most

Home Designs That Buyers Love Most. Image courtesy of Simon Howden / FreeDigitalPhotos.net

Hollywood-inspired homes that have the “look, but don’t touch elegance” are a fading trend and home owners now are preferring natural, comfortable spaces.

Consumers’ three favorite home designs are: Inviting, Rustic, and Beachside Charm, according to a new survey conducted by realtor.com®. Visitors were asked to vote for their favorite type of decor as part of their “Get This Look” promotion. Inviting home styles nabbed 23 percent of more than 10,000 votes cast by realtor.com® visitors as the top design choice, followed by Rustic at 22 percent, and Beachside Charm at 21 percent.

“We are seeing a shift in home design trends – leaving behind the glitz and glam for a more natural look – whether that may be a rugged barn with many textures or a serene beach-like feel,” says Farrell. “Today’s style reflects today’s lifestyle and we’ve found that having a space for entertaining family and friends all year round is the number one trend.”

The following is a breakdown of the top three style preferences:

• Inviting: This is described as a welcoming atmosphere that includes fun barware, plenty of seating, and a gather-worthy kitchen that can serve as the life of the party.
• Rustic: This look is for those who prefer natural elements: wood, stone, water and light. This design style usually incorporates organic materials from the outside inside for a perfect balance.
• Beachside Charm: This design has a relaxed and casual feel, often incorporating terra cotta tile, patio umbrellas, sundecks, and scattered shells.

Meanwhile, the design styles least favored in the survey: Regal (a design that uses fine fabrics and antiques), Urban, eclectic Mid-Century Modern, and Earthy.

Source: Move Inc.