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Real Estate

Millenials and home ownership

gavel2Many analysts are trying to provide answers for this year’s disappointing home sales volume.  One factor that has been maintained is the lack of participation from young home buyers, which may be supported by statistics compiled by the National Association of Realtors®.  Highlights from the National Association of Realtors® 2013 Profile of Home Buyers and Sellers cites the median age of home buyers was 42 years old (increased from the median age of 39 reported in 2008, when three-fifths of all home buyers were under 45); and the median age of the first time home buyer was 31 (increased from the median age of 30 in 2008, when 54% of first time home buyers were reported to be between the ages of 25 and 34).

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Real estate is still very personal

gavel2It might not be a revelation that the initial news about Zillow’s acquisition of Trulia reverberated among the analysts as a game changer for the real estate industry.  But you might be surprised that some commentaries expressed that the transaction of buying and selling homes has not really changed since the inception of these internet giants.

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Beauty remains in the eye of the beholder

house real estateThe maxim “beauty is in the eye of the beholder” seems to be applied universally.  But the meaning that different people are attracted to different characteristics may be also applied when viewing homes online.  Recent research confirms how visual cues can either increase or put off a home buyer’s interest in your home.

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Reality television and expectations

house real estateReality TV has been a part of our culture since the 1990’s, and chances are that you’ve watched Reality programming at some time.  Reality TV has benefitted from the booming housing market of the early to mid 2000’s, when the number of real estate reality shows grew exponentially. 

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Deciding whether it's a service

house real estateIf you’re like many home buyers, your home search is focused on a home’s specific features that are limited to your price range.  Your search may seem “product” directed, at least initially.  And unless you plan to go it absolutely alone, you’re likely to be using a number of real estate related services as well.

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Home ownership and freedom

house real estateWhile we enjoy the barbecues and fireworks that come along with the Fourth of July Holiday, we might take a moment to think about our freedom and independence.  And of course – homeownership is an expression of those liberties which is part of the “American Spirit” that drives us to achieve the American Dream.

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Nuclear war and property value

house real estateA recent blog post titled: “Want to Increase Your Property Values? Try a Nuclear War” caught my attention.  Robert Beckhusen & Matthew Gault, in their June 22nd post on Medium.com discussed a couple of unclassified defense reports on the effects and aftermath of a nuclear war (including the 1965 study “The Effects Of Nuclear Weapons On A Single City”).

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Oil and the price of local housing

house real estateIt seems that anytime there is turmoil in the Middle East, there is concern over disrupting the oil supply and spiking energy prices – notably at the gas pump.  Spiking gas prices not only makes everything seem more expensive, it has been thought to compel people to re-think their home buying strategies as well. 

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How long can your home survive?

house real estateHow long can your home remain livable?  According to a study by the National Association of Home Builders / Bank of America Home Equity Study of Life Expectancy of Home Components (February 2007), “The life expectancies of the components of a home depend on the quality of installation, the level of maintenance, weather and climate conditions, and the intensity of use..."

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