Great Article on 5 Must-Haves of Millennial Buyers

5 Must-Haves of Millennial Buyers

Daily Real Estate News |      Wednesday, February 12, 2014  

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Millennials, those born between 1980 and 2000, are the second-biggest segment of home buyers, behind Generation X (those born between 1965 and 1979), according to a 2013 National Association of REALTORS® study about generational housing trends.

Real estate professionals told ABC News recently of some “must have” features that tend to be in high demand among young buyers. Some of those “must haves” include:

1. Updated kitchen and bath: “The primary reason young buyers seek updated kitchens and baths is because they have limited budgets,” says Jack Curtis, a real  estate professional in Dublin, Ohio. “Most of their savings will go toward the down payment and furnishings. Kitchens and bathrooms are also the most expensive parts of a home to update, and young home owners cannot afford to sink a lot of money into those areas.”

2. Big kitchen with an open floor plan: “The kitchen has become the hangout room along with the family room,” says Lou Cardillo of The Lou Cardillo Team in Yorktwon Heights, N.Y. “An open space that can easily transition from kitchen to TV room is high on the list of the perfect home for young buyers. In essence, the kitchen is the new living room.”

3. Home office: “As technology continues to make us more mobile, young buyers have more options than ever to work from home, depending on their job,” says Paige Elliot, a real estate professional with Dave Perry-Miller & Associates in Dallas. “Having a dedicated space is important because it will help keep them focused and concentrated on work while they are at home on a Skype call, planning a presentation, setting up their workday or simply paying bills.”

4. Location: “My young buyers look for properties that are in proximity to public transportation and that have a good walking score,” says Allison Nichols, a real estate professional with Related Realty in Chicago.

5. Technology: A home’s appeal can be increased if it has a strong mobile carrier’s signal or its list of Internet service provider options, says Cardillo. “Internet and cell service matters a lot to this generation, and they’re going to ask, so yu need to have answers,” Cardillo says.

See the full list of must-haves at ABC News.

Source: “Top 10 Must-Haves to Sell to Young Homebuyers,” ABC News (Feb. 10, 2014)

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USA Housing Markets

Press Release USA Housing Markets….

2013 COLDWELL BANKER REAL ESTATE HOME LISTING REPORT FINDS MALIBU MOST
EXPENSIVE MARKET IN UNITED STATES, CLEVELAND MOST AFFORDABLE

Exhaustive Survey of Nearly 2,000 Markets and 52,000 Listings Shows More Than $2 Million
Difference in Price Between Malibu and Cleveland

MADISON, N.J. (Nov. 6, 2013) – The glitz, glamour and white sandy beaches of Malibu, Calif., have attracted the rich and famous to this premier destination for years. Today, Coldwell Banker Real Estate released its 2013 Home Listing Report (HLR), which ranked Malibu as the most expensive place to live in the United States. According to the annual report, an apples-to-apples comparison of four-bedroom, two-bathroom homes in more than 1,900 real estate markets across the United States, a sample-sized home in the affluent beach community of Malibu lists for $2.15 million, compared to $63,729 in Cleveland, Ohio.

“With its laidback, yet star-studded lifestyle, Malibu is undergoing a transformation from a seasonal destination to a year-round locale,” said Madison Hildebrand, an agent with Coldwell Banker Residential Brokerage in Malibu, star of Bravo’s Million Dollar Listing and regular contributor on E!. “Situated on the Southern California coast with beautiful homes and even more stunning views, you’re not only paying for world class properties, you’re paying for a way of life.”

Cleveland, Ohio, was ranked as the most affordable real estate market in the 2013 Coldwell Banker® Home Listing Report, where an average four-bedroom, two-bathroom home lists for $63,729.

“Cleveland’s friendly, hometown feel draws people of all ages, and in recent years, the community has been revitalized with more young professionals entering the market,” said Ed Dolinsky, president of Coldwell Banker Hunter Realty. “Energized by a growing tech hub that effectively supports nearby renowned hospitals and research institutions, this Midwest city continues to reinvent itself through its diversified business sectors and strong sense of neighborhood communities.”

Key Highlights from the 2013 Coldwell Banker® U.S. Home Listing Report:

“Whether moving for lifestyle or a new job, homebuyers can use the Coldwell Banker® Home Listing Report to compare the average listing prices of similar homes in different parts of the nation,” said Budge Huskey, president and chief executive officer of Coldwell Banker Real Estate LLC. “As the country moves on from the recession, this year’s report identified 20 markets where a four-bedroom, two-bathroom home costs more than $1 million, whereas in eight markets a similar home lists for less than $100,000.”
•The average listing price of a four-bedroom, two-bathroom home in the survey of more than 1,900 markets and 52,000 listings was $301,414.
•California holds 13 of the top 25 spots for the most expensive markets in the U.S.
•All top five of the most expensive markets are in The Golden State, with the two most expensive markets in the country located minutes from Los Angeles—Malibu (No. 1) and Newport Beach (No. 2).
•In contrast, 60 percent (15) of the 25 most affordable markets are in the Midwest.
•New York is the only state that had markets ranked on both the most expensive and most affordable lists.

Top 25 List of America’s Most Expensive / Most Affordable Real Estate Markets:

The top 25 most expensive and most affordable real estate housing markets in the 2013 Coldwell Banker U.S. Home Listing Report includes:

Heather Roberts
Coldwell Banker Real Estate LLC
973.407.5590
Heather.Roberts@coldwellbanker.com

Katy Hendricks
CooperKatz for Coldwell Banker Real Estate LLC
917.595.3057
khendricks@cooperkatz.com

Rank

2013 Most Expensive Markets

Avg. Listing Price

2013 Most Affordable Markets

Avg. Listing Price

1 Malibu, Calif. $2,155,900 Cleveland, Ohio $63,729
2 Newport Beach, Calif. $1,773,824 Garfield Heights, Ohio $66,075
3 Saratoga, Calif. $1,684,261 Flint, Mich. $84,437
4 Los Gatos, Calif. $1,360,497 Saginaw, Mich. $87,181
5 San Francisco, Calif. $1,309,599 Jackson, Miss. $94,155
6 Stone Harbor, NJ $1,301,727 Sioux City, Iowa $97,969
7 Cupertino, Calif. $1,292,400 Jonesboro, Ga. $98,332
8 Orono, Minn. $1,251,873 Moberly, Mo. $99,593
9 Weston, Mass. $1,229,000 Buffalo, NY $101,631
10 Redwood City, Calif. $1,203,357 Kankakee, Ill. $103,187
11 Breckenridge, Colo. $1,177,795 Utica, NY $103,877
12 San Mateo, Calif. $1,132,523 Ashland, Wis. $104,774
13 Great Neck, NY $1,103,364 Hillsdale, Mich. $106,384
14 Pasadena, Calif. $1,092,087 Johnstown, Penn. $107,039
15 Greenwich, Conn. $1,087,300 Arcadia, Fla. $107,691
16 Wellesley, Mass. $1,079,600 McCook, Neb. $107,986
17 Sunnyvale, Calif. $1,077,025 Park Forest, Ill. $109,709
18 Santa Barbara, Calif. $1,061,475 Niagara Falls, NY $109,809
19 Danville, Calif. $1,018,300 Eatonton, Ga. $111,108
20 Kailua, Hawaii $1,004,567 Lehigh Acres, Fla. $111,410
21 Mercer Island, Wash. $999,276 Kansas City, Mo. $113,718
22 Campbell, Calif. $974,212 Dayton, Ohio $115,176
23 Larchmont, NY $972,150 Camden, Ark. $116,072
24 Westport, Conn. $966,582 Akron, Ohio $116,906
25 Newton, Mass. $912,745 Aurora, Mo. $117,013

*A list of the most expensive and affordable markets in each state can be viewed on the Home Listing Report website.

About the 2013 U.S. Home Listing Report (Methodology):
The Coldwell Banker® U.S. Home Listing Report analyzes the average listing price of four-bedroom, two-bathroom real estate properties on coldwellbanker.com between January 2013 and June 2013 for 52,257 listings in 1,997 markets. Coldwell Banker affiliates as well as other franchise brands associated with Realogy Holdings Corp contribute to listings on coldwellbanker.com. Markets without at least 10 four-bedroom, two-bathroom listings on coldwellbanker.com between January 2013 and June 2013 were excluded from the ranking.

About Coldwell Banker®
Since 1906, the Coldwell Banker organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of more than 84,000 sales agents working in approximately 3,000 offices in 51 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to create an iPad application and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Coldwell Banker is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.

Things You Need to Do for Your Home in September!

september

September. The month where summer ends and fall begins…unless you live in San Diego. Then it’s just summer all year. But for most of us as the seasons change so do the things we need to do around our house.

While you may think that it’s a bit early to be considering the coming autumn temperatures, September is actually the perfect month to get a lot of home related items in order as you prepare for a coming change in temperature.

Here is a home checklist of items for you to consider doing this September:

1. Get your chimney and furnace inspected.

This is key for homes that need their heat running efficiently in the winter months. Getting your furnace and chimney checked in September gives you time to have any issues fixed in enough time before the weather turns. I actually learned this lesson personally. I have a chimney, but I don’t have a fireplace so why would I need my chimney inspected? A random chimney company was in the area and gave me a discount to have my chimney inspected and it was a good thing they did. I had damage at the top of my chimney and it hadn’t been cleaned in years which was costing me money as my furnace was having to work twice as hard to heat my home. Take it from me. Get your chimney inspected and cleaned as well as your furnace. Your home (and wallet) will thank you come winter.

2. Plan a weekend to take care of the outdoor furniture.

Whether you have a deck, a patio or just some stuff in the yard, plan out a weekend where you’ll officially put everything away. If you don’t plan on it, you’ll find it’s Thanksgiving and you still have a picnic table in your backyard.

3. Swap out those screen windows for storm windows.

It’s easy just to leave the screen windows up and just forget about it. But if you have storm windows, your home will stay warmer and heat more efficiently with that extra layer of protection from storm windows. Also if you’re in an area that gets snow, you need those storm windows to prevent that winter precipitation from getting inside your window sills and causing rot. It’s a pain in the neck, but worth it in the long run.

4. Check your windows and doors for drafts.

You probably should have done this before summer began, but if you forgot now’s the time to do a check of all your windows and doors to see if there’s air escaping. You’ll want to seal these up before you burn your money away with heat escaping your home. They can be simple to fix in some instances by just adding some weatherstripping around them. If you’ve got a door that leads maybe to an uninsulated room like a garage or mud room that has a draft underneath it, I highly recommend the Twin Draft Guard. Possibly the best $10 I’ve spent at Target.

5. Head over to YankeeCandle.com and order a pumpkin spice candle.

This is a requirement for all homes once October begins.

And there you have it. A few simple things to get your home ready for the cooler months ahead. Now that you’re done, you can head on over to Starbucks for an early fall treat as they have their Pumpkin Spice Latte available early this year to celebrate its 10th anniversary.

For those looking for more to do around the house, head on over to Houzz who has a pretty exhaustive checklist for your home in September.

How to keep your house cool with Just a Fan!

If you’re home is like mine, there are weekly arguments about what the temperature should be in your house. The fanthermostat is probably programmed as it always has but there are just some days that it feels hotter than others. Fiddling with the air conditioning conjures up visions of dollar bills being blown away, but if you can’t get comfortable at home where can you beat the heat? Turns out instead of our A/C we may not be using a fan to its full potential.

I came across this news segment on YouTube which has a home inspector showing how just a simple fan can lower the temperature in your home if used correctly. For example, putting a fan on the side of the house that gets shed and having it blow towards the side with sun will help balance out the temperature. Put a bowl of ice cubes in front of that same fan and you basically have a MacGyver-esque air conditioning unit.

While central air is still my home coolant of choice, these fan tricks can help cool down pockets of  your home that just always seem to be hotter than others. Check out the video above for the full list of tips on how to keep your house cool with just a fan.

Image courtesy of Flickr user Ryk Neethling