IS YOUR HOME SET UP FOR A "BLOCKBUSTER" RELEASE?
When "Star Wars, The Force Awakens" movie trailers began running as the prelude to feature movie, my son would run eyes and ears covered out of the theater. He wanted his experience of "The Force Awakens" to be unspoiled by clues dropped during the trailers, merchandising and chatter. But for most of us, we had plenty of merchandise, scenes and events at which to glimpse the movie to come. Pre-marketing and limited marketing your property won't be on the scale of a major motion picture release, but there are tools I can use to make the property appear as much of a blockbuster as possible! For example, while preparing the home for sale I can present your property as "coming soon!" Recently, this served as an excellent opportunity to let neighbors know that the property would be available for sale, and start to generate interest and tell their connections to inquire for more information.
If you are considering a sale contact me so I can explain the steps and tools I have to make your sale look like a SUPERSTAR!
Millennials Choose Parents’ Homes Over Romance
Mom and dad must make cool roommates. Young adults between the ages of 18 to 34 are more likely to live with a parent than to get married or move in with a romantic partner, according to a newly released analysis of Census data by the Pew Research Center.This is the first time in more than 130 years in which young adults have chosen their parents’ homes over forming their own households, the study notes. In 2014, 32.1 percent of young adults were living with a parent. On the other hand, slightly fewer—31.6 percent—were living in a household formed upon a “romantic relationship,” either with a spouse or a partner, according to Pew’s analysis.
What do you think? The National Association of Home Builders recently issued a report, “Missing Young Adult Households,” which attributes the lack of demand for single-family homes to millennials opting to live with their parents longer.
The trend for young adults to live with their parents longer grew more pronounced after the Great Recession in 2008. Fewer job opportunities forced some young adults to move back home. Also, young professionals are delaying marriages longer (with one in four young adults who may never marry), and the trend of young adults living together has “substantially fallen since 1990,” according to researchers.
Young men are living at the family home in the greatest numbers. About 35 percent of young adult men were living with a parent compared to 29 percent of women. About 14 percent of 18 to 34 year olds live alone, the study shows.
Source: “Living with Parents Is Most Common Arrangement for Young Adults,” Chicago Tribune (May 25, 2016)
Live Your Dreams!
Traditionally, the majority of home buyers are looking for their primary residence. However, some buyers purchase a vacation home to use for a family retreat or to purchase for a principal residence in the future. In addition, some investors purchase a home to rent to others or to diversify their investments. The NAR Investment and Vacation Home Buyers Survey breaks down the share of home sales by primary residences, vacation homes, or investment properties, and presents several characteristics of the non-primary residence transaction.
Low housing inventory in 2015 continued to impact housing sales and prices across the nation. As inventory remained constrained, home prices increased.
In 2015, the share of buyers who purchased a primary residence rose to 65 percent from 60 percent after dropping from 67 percent in 2013. The share of vacation home buyers declined to 16 percent from 21 percent. This remains, however, higher than historical data collected since 2003. The share of investment buyers remained unchanged at 19 percent.
Thirty-seven percent of vacation home buyers plan to use their property for vacations or as a family retreat and 16 percent plan to convert their vacation home into their primary residence in the future.
Forty-two percent of investment property buyers purchased the home to generate income through renting the property and 16 percent purchased because of low real estate prices and the buyer found a good deal.
If you're in the market for a vacation property, let us know! There are vacation homes in the local area, including one that we'll be listed shortly. We can also set you up with a knowledgeable and helpful real estate expert in the market of your interest.