ReCap

March

Shower remodels leading the way

Do you have a client who is looking for a home with a recently renovated master bathroom? Well‚ according to a Houzz survey‚ here are the features they will likely find1:

  • Eighty-three percent of homeowners upgraded the shower during a master bathroom remodel. More than half (54%) increased its size.
  • Freestanding flat-bottom tubs jumped in popularity (from 41% in 2017 to 50% in 2019) among those who added tubs or replaced old ones.
  • Other trending features in master bath remodels: new mirrors (typically in pairs; 77%)‚ accent walls (35%)‚ and toilets with high-tech features (34%).

Keeping you updated on today’s design trends is one way I enjoy staying in touch.

1“2019 U.S. Bathroom Trends Study‚” Houzz‚ last updated November 5‚ 2019.

March

The latest smart home tech

This year’s Consumer Electronics Show featured the latest products designed to make homes healthier‚ smarter‚ and safer. Take a look at this cutting-edge technology1:

  • Smart trash cans. No‚ they won’t take your trash to the curb. What they will do: Seal up full bags‚ open the lid to notify you it’s time for removal‚ and then line itself with a new bag.
  • High-tech filtration. The latest under-sink water filters not only provide pure water‚ they also notify owners about water usage‚ filter life‚ and leaks.
  • Camouflaged security. Home security cameras can be installed like furnishings for a more discreet look. One lamp features a high-def camera with night vision and motion-activated video recording.

As smart home devices continue to evolve‚ I will be here to update you on the latest trends.

1Melissa Dittmann Tracey‚ “Newest smart-home tech from CES 2020‚” REALTOR® Magazine‚ last updated January 16‚ 2020.

March

Today’s security system preferences

A guard dog or a well-hidden camera linked to a smartphone?  Security  review website Safehome polled homeowners to see whether traditional methods or high-tech security systems make people feel safer.1

  • A professionally monitored home  security  system was the #1 choice (a score of 4.33 on a scale of 1–5).
  • People who felt safe were two times as likely as those who didn’t to have a home security system that is self-monitored on a smartphone or mobile device.
  • Homeowners in rural areas felt safest with an entry keypad with a  security  code and alarm. Those in suburban and urban areas felt safest with a professionally monitored  security system.

As always‚ it is a pleasure staying in touch.

1“Security in the home‚” Safehome.org.

Uncategorized

State’s new buyer average well above national number

Despite low inventory and rising prices‚ first-time buyers still make up a significant portion of the Bay State housing market.1 More on this‚ plus other news from the Massachusetts Association of REALTORS®:

  • Forty-five percent of homebuyers in Massachusetts were first-timers in 2019—well above the national average of 33%.
  • Real estate professionals are in demand here in the Bay State: The percentage of buyers who used one to buy a home last year (93%) bested the national number (89%).
  • Massachusetts buyers are also younger (median age of 32 vs. 47 nationally) and financing at a higher rate (88% of purchases) than the rest of the country (86%).

If you need assistance or further information‚ please contact me.

1Eric Berman‚ “Study finds first-time home buyers remain a significant portion of the market in Massachusetts in 2019‚” Massachusetts Association of REALTORS®‚ last updated January 30‚ 2020.

March

A breakdown of new construction costs

The median price of a new home is $56‚900 more than that of an existing home.1 Share this insightful data with customers who are navigating the “new vs. existing” debate:

  • According to the National Association of Home Builders‚ 66% of builders said the price of building materials is a “significant problem.” Sixty-one percent of the cost of a new home is from construction costs—up from 55.6% in 2017.
  • The cost of a finished lot accounts for 18.5% of a new home’s price.
  • In a breakdown of construction costs‚ the most expensive elements are interior finishes (25.4%)‚ framing (17.4%)‚ major system rough-ins (14.7%)‚ and exterior finishes (14.1%).

I hope information like this is useful to you and your customers. Please contact me if you need assistance.

1Carmel Ford‚ “Cost of constructing a home‚” HousingEconomics.com‚ last updated February 3‚ 2020.