Tag Archives: home-owners

The Size Home Owners Want

Current statistics of today’s homeowners

Current homeowners desire a different size home from those of different generations or various incomes.

Goldilocks mindset - real estate infographic CALIFORNIA ASSOCIATION OF REALTORS

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS.

What Xers Want in a Home

Gen X home buyers want specific things from and priorities for their homes, and have different desires than perhaps other generations.

Family is a top priority among this generation, and want their house to reflect this.

what_xers_want_-_hires

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS here.

Money Monday: Good news for home buyers

Incomes are finally rising faster than home prices.

Photo from Pictures of Money

Photo from Pictures of Money

“For the first time since 2011, incomes rose faster than home prices in the U.S., according to a new report from Zillow.

“The median home price climbed to $188,100 in August, a 5% increase from the same time a year ago.

“And last week, the Census Bureau reported that median household income increased to $56,516 in 2015, up 5.2% from 2014.”

CNN. “Here’s some good news for house hunters.” ¬†http://money.cnn.com/2016/09/22/real_estate/incomes-rise-faster-than-home-values

Read more of this article at CNN here.

Common Remodeling Projects

When consumers remodel their home, they consistently focus on a couple key areas.

Those home owners, according to home remodelers, spend money on upgrading:

  • 81% focus on redoing the bathroom
  • 79% spend money and time on refreshing the kitchen

Room additions and whole house remodeling projects are two other focuses, but only about 47 – 49% of home owners work on those.

WhattheRemodelReveals

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS at CAR.org.

Money Monday: Falling homeownership rates

Falling homeownership rates for more than just millennials

home buyer regretsLast year, 36.3% of households were in rentals, leaving the homeownership rate at 63.6% (10 years ago it was at 69%) (Shreya Agarwal, Forbes. http://www.forbes.com/sites/shreyaagarwal/2016/05/06/homeownership-rates-are-falling-and-its-not-just-a-millennial-problem/?ss=personalfinance#193b367ba9e0).

But according to Forbes, it’s not millennials that are the leading age range in this data; it’s 35- to 44-year-olds.

Read Forbes’ full article on this real estate data here: “Homeownership Rates Are Falling and It’s Not Just a Millennial Problem”.

What Boomers Want in Real Estate

Two-thirds of homeowners are over 55

That means that they have a large impact on housing for all generations.

WhatBoomersWantThis infographic is from CAR.org.

Remodeling in California

To get their dream home, many California homeowners still have work to do after they close escrow.

California is the third state most likely to do a home renovation project. For homeowners in our state, a full remodel after purchasing a house is fairly commonplace.

For those remodeling, the average cost of a full-home renovation is $263,384, probably due in large part because 93% of homeowners enlist (and pay for) professional help. But, as you might assume, fully renovating your house adds value; the average home value after a full-scale remodel is $725,000.

Have you done a full house renovation?

Homeowners renovating your home

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS at CAR.org.

Home Repairs You Cannot Afford to Ignore

Home repairs are an issue that many of us tend to dodge. We understand the necessity of the repairs; however when it comes down to it many of us do not have the time or money to fix everything.

rodent house infestationThe following list of minor home repairs could end up costing you big money if you continue to procrastinate:

  • Rodent incursions – Rats, mice and other vermin love to chew through insulation and wiring and are suspects in many house fires.
  • Soaring fuel bills – This is more than a pocketbook issue, since poorly functioning systems can cause deadly carbon monoxide buildup in your home.
  • Peeling paint – Paint is like a home’s skin. It’s the first line of defense against incursions by water and pests. Water that seeps into wood can lead to rot.
  • Flickering lights – It might be that the wiring in your house is dysfunctional or you have too many appliances hooked up to a single circuit. Either one can cause a fire.
  • A water leak – Left unchecked, leaks can lead to rot, dry rot, mold and termite infestations. Water can cause roofs to collapse, foundations to buckle and all manner of expensive repairs. Water-related problems can also get your home blackballed by insurance companies worried about mold-related claims.