Category → Green Real Estate
February 28th, 2010
Women Drive Real Estate Purchases
Women are working more, earning more and buying more than they ever did. Consequently, they have a significant influence on the American economy in general, and the real estate industry in particular.
The collective buying power of US women accounts for about 85 % of all consumer purchases. When it comes to purchasing patterns, women are estimated to make 94 % of home furnishings decisions, 91 % of new homes purchase decisions, and 89 % of travel decisions.
Women’s earnings have accelerated over the last few years and they have emerged as the Chief Purchasing Officers in their households. According to IRS data, women constitute 39 % of the top wealth holders in the country. This means about 2.5 million women possess a wealth of $4.2 trillion put together. Notably, the IRS estimates that by 2050, 42 % of these women will be single or widowed. The IRS further estimates that more wealth is bound to be accumulated among women.
Another growing trend that emerged in a December 2006 study by the National Association of Realtors (NAR) was that about 22 % of homes purchased between July 2005 and June 2006 were by single women who were in the 25 to 34 age range. Women accounted for a record number of 1.76 million home purchases (1 in every 5 homes), a significant increase from 14 % a decade ago. Women’s growing success in their careers, higher education, financial independence and a desire to build an early nest on their own, are some of the reasons that have spearheaded this home buying trend.
Among the vast demographic spectrum in the real estate industry, women have become a force to reckon with. Real estate agents are increasingly taking note of their female clients and the power they wield in home buying decisions. By the influence that they bring into play in home buying decisions, women form a significant and growing market that simply cannot be ignored.
If you are considering buying a home, condo, or any other real estate, be sure to seek out the services of a local real estate agent to guide you through this complex process.
By admin • Posted in Green Real Estate • No Comment
February 23rd, 2010
New Homes in Northern California
Many first time home buyers struggle with the decision between purchasing a new or pre-owned home. A common factor in the decision process is the price of the home. The fact is, many new homes in Northern California can be purchased for almost the same price as pre-owned homes in the area.
There are many advantages to buying new homes in Northern California or even building one yourself. The feeling of buying a home that has never been lived in is amazing. And by building your own home, it’s even a greater reward knowing that it was built to your exact specifications.
By choosing to build your own home, the first step is to find a builder whose work you appreciate and can work well with. It’s essentially an interview process to find the best match for you and your needs.
Do lots of research and view the model homes of builders that you are interested in. If no model homes are available to view, you can contact the homeowner’s of houses they have built and speak with them directly. The owner’s of these homes will usually be glad to speak with you about the experience they had with that particular builder and give you advice as you move forward with the construction process.
By choosing to build the home yourself you have control over what every detail of the home will look like. You will choose everything from the floor plan to the lighting fixtures. Deciding to go this route is for the new home buyer that is thinking of their home as a long term residence and wants everything done to their liking.
New homes in Northern California that are custom built have the added advantage of being a “green” home. Of course this is a personal choice that may or may not be utilized, but using eco-friendly methods will not only utilize environmentally friendly materials, but can also have the long term effect of saving on such things as utility costs, forever.
Another benefit of building your own home is that most new homes will come with a warranty from the builder. The terms vary, but it’s great peace of mind knowing if anything goes structurally wrong with your home it will be covered by the builder. Also, having that relationship with the builder will allow you to speak with them directly if you ever decide to do any sort of remodel or just have any general questions about your home. All the answers are just a phone call away.
All of this and the sense of community are what comes with purchasing new homes in Northern California. When all is said and done, it’s a great sense of accomplishment and satisfaction knowing you put together the home of your dreams and it is a place you and your family can be comfortable in for the rest of your lives.
Now is the time to take advantage of low interest rates, prices and the federal tax benefits that are available to new home buyers. Build the custom home that you’ve always wanted, today.
By admin • Posted in Green Real Estate • No Comment
January 28th, 2010
Role Of Real Estate Agent In Vacation And Second Home Markets
Second home sales have been increasing over the last few years with more people becoming second home owners. In 2005 alone, 40 percent of the homes sold were second homes. Demographics, all time low mortgage rates, and healthy rise in home prices have contributed to this development in the second home market. Besides these, a major factor that has helped augment the buying and selling of second homes is the real estate professional.
The National Association of Realtors conducted research on the profile of second-home owners in 2006. According to the NAR report entitled ‘2006 Profile of Second-Home Owners’, a majority of second home sales transactions are conducted using the services of real estate agents.
The statistics are remarkable; 64 % of vacation home buyers purchased their home using the services of a real estate agent by the end of 2005 – a marked increase from less than 50 % of vacation-home buyers in 2003. Also, 65 % of investment-home buyers purchased their home with the help of a real estate agent – an increase from 53 % of pre-2003. In comparison, only 14 % of vacation-home buyers and 7 % of investment-home buyers purchased directly from builders from 2003 to 2005.
The growing role of the real estate professional is evident from the following figures:
1. Of vacation home sales made, 71 % of them were second homes and 74 % of the sales were made using the services of a real estate agent.
2. Of the investment properties sold, 85 % of them were previously owned and 62 % of the sales were made using the services of a real estate agent.
The use of real estate agents in second home sales transactions varied according to the home’ location.
1. Buyers used a real estate agent more frequently while purchasing a vacation home located in a suburb/subdivision (56 %) or a rural area (57 %) than for homes in other locations.
2. About 66 % of buyers who purchased an investment property in an urban/central city area or in a suburb/subdivision, used the services of a real estate agent more frequently than those who purchased a home in other locations.
Real estate professionals continue to be the first source of information to second-home buyers (38 % of vacation-home buyers and 34 % of investment-home buyers). The real estate professional also plays a major role when second-home owners plan to buy additional properties. If you are thinking of buying a second home or vacation home, seek out the services of a real estate agent to guide you through your next home purchase.
1. The percentage of second home owners who are more likely to use a real estate agent in their next home purchase is quite high. Among vacation-home owners it is 79 % and investment-home owners 73 %.
2. Among second home owners, 65 % of vacation-home owners and 64% of investment-property owners are more likely to use a real estate agent in their next home sales.
Given these statistics, it is no wonder that the real estate agent plays a pivotal role in helping people buy and sell second homes. So whether you are a second-home buyer or seller, enlist the services of an agent for a smooth, hassle free real estate transaction.
By admin • Posted in Green Real Estate • No Comment