June

Market trends to consider

As you know‚ staying up-to-date on the latest real estate trends is essential. Here are the top factors influencing today’s buyers and sellers – as discussed at the National Association of REALTORS® 2019 Broker Summit1:

  • Staying put. The time spent living at a property is increasing. In 2018‚ the average owner remained in a home for nine years.
  • Children & parents. Just 34% of buyers have children – an all-time low. Additionally‚ one in six Generation X buyers purchased a home to share with their parents.
  • Expectations. Nearly 40% of real estate professionals said television shows that depict the buying and selling processes impact business.
  • Student loan debt. Borrowers with student loan debt carry an average amount of $41‚200.

As always‚ it is a pleasure staying in touch and sharing helpful information.

1Erica Christoffer‚ “Eleven real estate trends to keep on your radar‚” REALTOR® Magazine‚ last updated April 22‚ 2019.

June

Tips for safeguarding luggage

Damaged or lost luggage is an all-too-common occurrence for airline passengers. Share these travel tips with customers1:

  • Use a TSA-approved lock. Ten percent of checked bags are chosen for additional inspecting by the Transportation Security Administration. TSA-approved locks allow screeners to safely open them with a master key.
  • Invest in protective covers. A plastic or fabric cover can prevent external damage.
  • Consider luggage tracking. Many airlines offer apps that allow travelers to track a bag’s location.
  • Keep a record. Photograph bags and their contents. This will make the process easier should a claim need to be filed.

I hope your customers find this information to be helpful.

1Barbara Peterson‚ “Smart ways to protect your luggage‚” Consumer Reports‚ last updated May 14‚ 2019.

June

A building boom is here

While home construction is up only slightly nationwide‚ the Northeast is experiencing a building boom. From the Commerce Department’s latest report1:

  • As weather improved‚ homebuilding in the Northeast came alive. Housing starts spiked 84.6% from March to April.
  • Nationwide‚ homebuilding was up 5.7% in April.
  • For single-family homes‚ construction rose 6.2%.

As the #1 mortgage company in Greater Lexington for 17 consecutive years‚ Capstone is here to provide guidance and support.

1“Housing starts surged 84.6% in the Northeast‚” Boston.com Real Estate‚ last updated May 19‚ 2019.

May

What buyers are willing to pay for energy efficiency

To receive savings on future utility bills‚ homebuyers are willing to pay the price now.1 The National Association of Home Builders explored this topic in its 2019 edition of ‘What Home Buyers Really Want.’ The numbers:

  • To gain $1‚000 in annual energy savings‚ buyers are ready to spend an additional $8‚728.
  • Forty-six percent said they would pay between $1‚000 and $9‚999 to earn $1‚000 in savings; 37% said they would spend more than $10‚000.
  • For those shopping for homes priced $500‚000 or more‚ the amount they would pay is $10,560.

Creating a ‘green’ home can be costly‚ but buyers do not appear to be shying away from the required investment. I hope you find this information to be helpful.

1Carmel Ford‚ “How much are buyers willing to pay for energy efficiency?” Eye on Housing‚ last updated April 12‚ 2019.

May

Pool safety tips

Memorial Day – the unofficial start of summer – brings with it the opening of many private and community pools and recreation areas. Keep children safe with these tips1:

  • Designate a ‘water watcher.’ This is an adult responsible for keeping an eye on child swimmers. Rotate watchers every 10–15 minutes. Those on duty should avoid texting and other distractions.
  • Use PFDs. Young children should use a personal flotation device (a Coast Guard approved life vest) that supports the head. Never rely on ‘floaties‚’ ‘swimmies‚’ noodles or rafts to keep a child safe.
  • Fencing is key. In many areas‚ proper fencing around a backyard pool is the law. Self-closing‚ self-latching gates should have latches at least 54 inches above the ground.

Have a happy and safe holiday weekend.

1Tina Donvito‚ “17 hidden pool dangers you need to know‚” Reader’s Digest.