Author: tpetcu

September
tpetcu

59% plan to buy before age 30

Generation Z (those born after 1995) is not expected to enter the housing market for another five to 10 years.1 However‚ it’s apparent this demographic already has its eye on homeownership.2 Take a look:

  • This generation’s eagerness to buy surpasses that of preceding generations at the same age. More than half of those 18–23 say they are already saving for a home while 59% plan to buy before 30.
  • Roughly 14 million Generation Z members 18 and older are using credit‚ including some who already have mortgages.
  • Though the group still only represents 0.5% of current mortgages‚ the number of home loans is on the rise – up 112% over the last year.

As Generation Z continues to age – and spend – I hope to keep you updated on their preferences.

1Greg Sandler‚ “Beyond Millennials: Generation Z buyers are poised to upend the housing market‚” Realtor.com‚ last updated June 14‚ 2018.
2“Gen Z: They’re not too young to buy a home‚” REALTOR®Magazine‚ last updated August 16‚ 2019.

September
tpetcu

Tips from a body language expert

When you are immersed in the world of real estate‚ face-to-face interaction with customers and partners consumes a significant portion of your day. Being able to interpret – and demonstrate – proper body language is a useful skill.

At the recent National Association of REALTORS® Leadership Summit‚ body language expert Janine Driver provided physical prompts to keep an eye on1:

  • Crossed arms. Some may assume this position gives off a negative vibe. However‚ it means someone has both sides of their brain engaged. Said Driver: “You are 30% more likely to solve a difficult task or problem with crossed arms.”
  • Hidden lips. People tend to make their lips disappear when they are not pleased with what they are hearing.
  • The “navel rule.” Driver spoke of how people directly face those they like‚ admire‚ and trust.

As always‚ it is a pleasure staying in touch.

1Lauren Tussey, “How body language gives you nonverbal answers‚” REALTOR®Magazine‚ last updated August 13‚ 2019.

September
tpetcu

Northeast comes in at #1

Thinking about a home search is one thing – actively looking is another. Here in the Northeast region‚ the number of buyers deep into their house hunts is quite high.1 Take a look:

  • Forty-seven percent of buyers in the Northeast are already immersed in their search. That tops the West (43%)‚ South (39%)‚ and Midwest (39%).
  • Millennials and Baby Boomers (43% for both) are the age groups with the most buyers actively looking.
  • Nationally‚ 41% of buyers are actively looking – down from last year’s 50%.

The National Association of Home Builders’ full report can be found here. Please let me know if you have any questions.

1“Housing Trends Report‚ Quarter 2‚ 2019‚” National Association of Home Builders.

August
tpetcu

State electric bills are above the national average

Massachusetts homeowners are doing their part to conserve energy. However‚ they are still paying monthly electric bills that are more than the average American’s. From the US Department of Energy1:

  • The average electric bill in Massachusetts is $117 a month – above the national average of $111.67.
  • Massachusetts uses the seventh-lowest amount of electricity per month. However‚ the state does suffer from having the fourth-highest retail price of electricity per kilowatt hour.
  • A lack of natural gas reserves and pipelines in New England are mostly to blame for residents paying 50% more per kilowatt hour than the national average.

I am always here to provide helpful information. If you have questions or need assistance‚ please contact me.

1Carmel Ford‚ “2017 residential electricity bill by state‚” Eye on Housing‚ last updated July 2‚ 2019.

August
tpetcu

A new definition of luxury

Millennials are reshaping today’s market – and as this generation shops for high-end homes‚ they are redefining what the term ‘luxury’ means. Here is what many Millennial buyers consider luxury elements1:

  • Green features. Air purifiers‚ solar panels‚ and tankless water heaters are much sought-after.
  • Functionality. Smaller homes with multipurpose rooms‚ an open concept‚ and high-end finishes are in demand. Millennials are also putting an emphasis on a home’s ability to entertain guests.
  • Commuting options. Access to public transportation is coveted.

As always‚ the goal is to keep you up-to-date on the latest housing trends.

1Jeff Lottmann‚ “How young buyers are redefining ‘luxury‚’” REALTOR®Magazine‚ last updated June 11‚ 2019.