Buyers with children put more weight on the neighborhood, local schools, and size of homes when shopping for the right property, according to the 2017 Moving With Kids report, produced by the National Association of REALTORS®.The neighborhood, in particular, has a big influence on home buyers with children under the age of 18. Forty-nine percent of buyers who have children consider the neighborhood based on the quality of the school district,
More developers are finding 1970s “hippie-inspired” amenities—with high-end twists—to be more appealing for younger generations buying into upscale apartments or condos, The New York Timesreports.For example, a luxury rental complex on Staten Island in New York, called Urby Staten Island, features a communal kitchen, a 5,000-square-foot urban farm, a 20-hive apiary (tended by farmers and beekeepers), and kombucha workshops.Developers in
Mortgage rates can affect affordability more than home price appreciation, according to Andrew LePage, CoreLogic’s professional in research analysis.Low interest rates have helped mitigate some of the impact from household incomes that have failed to keep pace with rising home prices in recent months, LePage says. However, if mortgage rates trend higher—as they are largely predicted to—what will happen to affordability? LePage uses a CoreLo
About 15 percent of people ages 25 to 35 were living with their parents in 2016, according to Pew Research data. Many millennials came of age during the last recession, “so it’s taking them longer to financially recover,” says Jason Dorsey, president of the Center for Generational Kinetics, a research firm in Austin, Texas. “They had a tough job market from the start, and there’s been quite a lot of wage stagnation. … It’s more soci
Open floor plans, which typically combine the kitchen, living room, and dining room in one large, open area, have dominated home design trends in recent years. But now, buyers may be starting to shun this type of layout, The Wall Street Journal reports.“While [the open floor plan] was successful in allowing multiple generations to congregate, it also led to consolidated visual chaos,” New York-based designer Phillip Thomas told the Journal
The factors involved in helping empty nest baby boomers sell their longtime family home are quite different from assisting millennials moving out of their starter home. They may desire different marketing tactics, channels of communication, or types of statistics and information, according to Andrey Nokhrin, founder and CEO of Flipt, a predictive technology firm.Whether you’re working with Generation Y, Generation X, baby boomers, late boomers
For-sale-by-owners tend to sell their homes for lower prices than homes sold through traditional agents via the MLS, and in many cases below the average differential represented by the prevailing commission rate, according to a new study by Collateral Analytics.The study examined the price differences between homes sold through traditional agents versus those sold by FSBOs from 2016 to the first half of 2017.Some homeowners may be tempted to tr
Antitheft software is saving stolen smartphones everywhere. In San Francisco, phone-related robberies have dropped by 50 percent from 2013 to 2016 since the passage of the Smartphone Theft Prevention Act. This legislation makes it mandatory for manufacturers like Google and Apple to install theft-deterring software into their products. This includes activation locks and remote device erasure software.Ensure the built-in capabilities of your iPh
Builders failed to ramp up inventories last month, despite increasing demand from home buyers and calls from the real estate industry. New-home construction dropped 4.8 percent in July to a seasonally adjusted annual rate of 1.16 million units, the U.S. Department of Housing and Urban Development and Commerce Development reported Wednesday.Single-family production fell 0.5 percent month over month in July to an adjusted annual rate of 856,000. Th
Contradicting previous research, new study finds FSBOs sell at discountKey Takeaways Agents tend to achieve higher sales prices for properties than comparable FSBO listings, enough to offset their commission fee, according to a recent analysis.Academic research has often cast doubt on the value of real estate agents, but a new study will come as music to their ears.It suggests that homeowners will net roughly the same proceeds whether they sel
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