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Generation Y Represents 31% of Home Owners

by CAR

Generation Y (comprised of twenty something’s and those in their early 30’s) represent approximately 1/3 of home owners. Despite the age groups challenges, such as tight credit, high debt loans, and limited inventory, most Millennials agree that owning a home is a good investment!

NAR Lists Top 10 Metropolitan Areas for Millennial Homebuyers

by National Association of Realtors

Where are the best markets for aspiring Millennial homebuyers? New NAR research identifies ten metropolitan areas that have a young adult population with solid job growth rates and relatively affordable home prices.

 

 

  • Austin already has a large number of Millennials while job growth remains strong.
  • Dallas has a large number of Millennials living in the city and strong job growth.
  • Denver has seen a solid inflow of Millennials while it shows promising job growth and gains in median home prices.
  • Des Moines has a large number of Millennials moving to the city and a low unemployment rate.
  • Many Millennials have moved to Grand Rapids where job growth is strong and homes are very affordable.
  • Minneapolis has experienced a solid inflow of Millennials and has a growing inventory of homes for sale.
  • Millennials have been moving to New Orleans where the unemployment rate has shown significant improvement.
  • Large numbers of Millennials live in Ogden where the unemployment rate is low and inventory conditions are favorable.
  • Salt Lake City has a low unemployment rate and inventory choices are expanding.
  • Millennials continue to move to Seattle where the inventory of homes for sale is expanding and unemployment is falling.

Sources: Share of Millennials to the total Population and Share of Millennial Movers to Movers of any age (American Community Survey), Median Price Growth and Affordability Index (NAR), Inventory Change (realtor.com), Growth in Private Payroll Jobs and Unemployment Rate (U.S. Bureau of Labor Statistics).

3 Often Overlooked Home Details

by Real Team 360

Think you’ve found the perfect home? Think again. There are three little details which can turn an ideal house into the world’s most annoying location. Before you make your offer, take into account these three small, but surprisingly important details:

 #1: “Let me call you back on my landline.”Does your future dream home have cell reception? Check your signal when you’re on the property and see if it has dead spots, poor/limited data connections, or flat out “NO SERVICE” messages. This is especially important if you telecommute or had planned on skipping a landline entirely. While you can try and live on VoIP connections, WiFi, and other options, the hassle of a hole in cell coverage can wear on you.

#2: “Wow, the commute is longer than I thought.”It’s a sunny Saturday afternoon, and for kicks you decide to see how long the drive is from your potential dream home to your office. Doesn’t seem too bad, does it? Now try it during rush hour on a Monday (in bad weather if you can swing it). You might be surprised how school zones, backed-up interstate ramps, new construction, and peak transit schedules extend that commute. This goes for urban commutes too, so even if you don’t drive to work you’ll want to evaluate the commute in real-world conditions.

#3: “What do you mean we’re outside your delivery zone?”The neighborhood was gentrifying. The home price was within your range. Now you find out that there’s no such thing as food delivery to your new address! Don’t assume that just because you’ve seen pizza delivery cars whipping through the ‘hood means they stop there. Restaurant delivery areas are often drawn like congressional districts, so if you can, check out what the local food delivery options are like ahead of time. Look up a few places, call them, and verify they deliver to your address. (Asking the average delivery time is a good idea, too.)

Markets can be super competitive, but remember that you’re planning on living in this new house for a considerable amount of time. (Most people would tell you at least 5 - 7 years.) Perhaps your priorities don’t include these three details, but they might to other buyers when you’re ready to sell. Time changes things, but ask yourself: Do you want to put up with the annoyances for two years? Even one?

 

 

Whether you decide to go over budget or forgo a swimming pool, 3/5 home buyers say that school attendance boundaries would be a factor in choosing thier next home.

10 Tips for Protecting Your Home During Vacations

by Real Team 360

We hope you all have a safe and relaxing time during your vacation this summer. Its crucial that we all have time to recharge and recognize whats important in life. We only go around once, so its important to savor what we have. Before you leave town, we thought you might be interested in a few precautionary safety tips to keep your home and your possessions safe while youre gone. Often in the run up to a vacation, people neglect to take simple steps to protect themselves from becoming a victim of theft or vandalism. Youve probably covered your bases, but just in case, here are 10 basic precautions you can take:

1. Have someone collect your mail and newspaper daily.

2. Leave shades and blinds in normal positions.

3. Put at least two lights and a radio on automatic timers.

4. Have someone leave trash at your curb on garbage collection day.

5. Have someone park a car in your driveway occasionally. If you leave your car outside, arrange to have it moved every so often.

6. Leave a key with a trusted neighbor in case of an emergency. Let the neighbor know where you are going and when you are expect to return, also leave them a way to get in contact with you in case of an emergency.

7. Lock all windows and doors before you go. Do not forget to double-check basement and garage doors.

8. On extended trips have someone to maintain your landscaping, (grass mowed, leaves raked, etc.)

9. Consider turning off your homes water main to prevent damage from a burst pipe.

10.Be careful how much you check-in on social media while on vacation. If your privacy settings are incorrect you might reveal to strangers your home is vacant!

 

Be safe and have a blast...

89% of young renters said they planned on owning a home at somepoint in the future. Of those surveyed, the top two reasons to strive for homeownership was the ability to live in a nicer home and the opportunity to accumulate more wealth.

Displaying blog entries 1-6 of 6

Contact Information

Real Team 360
RE/MAX Parkside Real Estate - BRE #01421338
1213 Vine Street
Paso Robles CA 93446
Office: (805) 238-1555