April

Tips for a more welcoming entryway

A foyer is more than just an entryway—it provides a first impression to a home’s visitors. Share with customers these strategies for making a foyer more welcoming1:

  • Seating options. For those who like to kick off their shoes upon arrival‚ seating makes this task easier. For homes with limited space‚ a small stool works just as well as a larger bench.
  • Let in the light. Natural light‚ ceiling lighting‚ and bright-colored walls help set a positive tone.
  • Clutter containment. Shelves‚ trays‚ and hooks can store common clutter like coats‚ mail‚ and keys.

As always‚ it is a pleasure staying in touch.

1Larissa Runkle‚ “Six classic foyer décor mistakes that make designers cringe‚” realtor.com®‚ last updated March 17‚ 2020.

April

Builder confidence drops—yet still remains high

While the spreading coronavirus impacted both U.S. and global economies in March‚ builder confidence in the housing market remained solid nationally and here in New England.1 More from the National Association of Home Builders®:

  • The Housing Market Index (HMI) saw a two-point drop to 72 after holding steady in the low- to mid-70s for the past six months. A score over 50 means more than half of builders see favorable conditions.
  • The HMI score in the Northeast region may sit below the national average‚ but it did rise two points to 64 in March.
  • Twenty-one percent of builders surveyed reported a disruption in material supplies due to the virus’ effect in other countries‚ such as China.

If you have any questions‚ please contact me. I am always here to help.

1Robert Dietz‚ “Builder confidence declines but remains solid amid rising risks‚” Eye on Housing Blog‚ last updated March 17‚ 2020.

April

Home feature wish lists by generation

Most homebuyers are looking for ample storage space‚ natural light‚ and open floor plans. But it’s not until buyers are filtered by generation and lifestyle that the specifics of their wish lists come to light. Check out the latest generational trends1:

  • Millennials prefer smaller‚ more functional spaces. Kitchen islands with pull-out dining or workspaces are replacing traditional dining room tables.
  • Generation X (those age 40–55) are choosing high-end finishes and appliances. They are also coveting home office spaces since 70% of the generation works from home at least one day a week.
  • Families of all ages and sizes require more space but still have a budget in mind. Indoor/outdoor living‚ flexible spaces for play and homework‚ and smart home features are among the priorities for this group.

As always‚ I enjoy staying in touch. Please contact me if you need assistance.

1Michele Lerner‚ “Baby Boomer? Gen-X? The design trends each generation wants‚” Boston.com Real Estate‚ last updated March 16‚ 2020.

April

Home sales up in February

What a difference a year makes. Single-family home sales in Massachusetts posted a significant increase in February over numbers from the same month one year ago. Check out the latest from the Massachusetts Association of REALTORS® (MAR)1:

  • February saw 4‚383 pending home sales in the Bay State. That’s a 25.2% increase over the 3‚501 in February 2019.
  • The median sale price of a single-family home was $396‚900 in February—a jump of $17‚900 from one year ago.
  • MAR President Kurt Thompson attributed the strong numbers to February’s mild weather and historically low mortgage interest rates.

As always‚ I am here to provide continuing guidance and support. Let me know if you need assistance.

1Eric Berman‚ “Homes put under agreement in February are up for single-family homes and condominiums in Massachusetts‚” Massachusetts Association of REALTORS®‚ last updated March 11‚ 2020.

April

Living with parents has its savings advantages

Those who prolong their stay with Mom and Dad can knock up to 10 years off the time needed to save for a down payment.1 Meanwhile‚ Boston-area renters aiming for 20% down face nearly 15 years of saving. Here are the numbers:

  • The study factored in markets’ median home prices‚ median incomes‚ and an assumption of saving 16.5% of income.
  • Those choosing to live with parents as well as save for a 10% down payment will have enough saved in four years and two months. (Timeframe is based on saving 34% of income.)
  • Boston-area renters paying $2‚415 a month would need more than 14 years to save the money needed for 20% down on a $467‚000 property.

Please contact me for more information.

1Steve Randall‚ “Here’s how long a renter needs to save to buy a home‚” Mortgage Professional America‚ last updated March 1‚ 2019.