How Will the Millennials Affect the Luxury Market?

Luxury Home300According to Nielsen … Millennials may be many things, but they may not be what you expect. Millennials are the social generation. They’re the founders of the social media movement—constantly connected to their social circles via online and mobile. They prefer to live in dense, diverse urban villages where social interaction is just outside their front doors. They value authenticity and creativity, and they buy local goods made by members of their communities. Millennials care about their families, friends and philanthropic causes. However, they’re also coming of age in the most dire economic climate since the Great Depression–making their families, communities and social networks even more valuable as they band together.

Among their key findings, Millennials are…

  • Diverse, Expressive and Optimistic
  • Driving a Social Movement Back to the Cities
  • Struggling, But They Have an Entrepreneurial Spirit
  • Deal Shoppers and Desire Authenticity
  • Connected and Want the Personal Touch

Luxury Home Market Statistics

luxury market

 

 

 

 

 

 

 

 

 National Summary Charts

The charts below show the 7-day and 90-day rolling averages for median list price, days on market, and inventory for the national composite–a snapshot of how, together, the luxury markets around the country are performing.

Luxury mkt price chart

Inventory 33014

DOM 33014

 

 

 

 

 

 

Where Do The Millennials Live?

2014 Luxury Market Stats

 

 

 

 

 

 

 

Quick Fact:

As of March 30, 2014 There are 320 Luxury listings priced between ($1,000,000-$5,000,000) in Norfolk County, Massachusetts.  327 Luxury listings have sold, contingent or under agreement in the past 6 months.

Middlesex County – 375 Luxury listings with 500 that have either sold, contingent or under agreement.

Information courtesy of the Institute for Luxury Home Marketing

 

 

 

Thinking of buying or selling a home, or know someone who is considering a move, please call me. I can help you find a realtor at your destination location, a no cost or obligation service!  “Your Guide to Better Living”

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80 Johnson Drive, Holliston, Mass.

80 Johnson SALE PENDQuiet Elegance with a Prestigious Presence Nestled peacefully within the desirable Cedarbrook neighborhood, this stunning colonial is screened by nature with towering native trees and artiscally landscaped with many varieties of shrubbery and perennials. Landscape irrigation is provided by a separate well system. This custom designed home blends elegance and comfort with tasteful appointments and refined finishes. As you enter into the two-story foyer with palladium window,  the expansive first floor offers an office for the professional with custom floor to ceiling built-in cabinets, hardwood floor, electric fireplace and privacy with a French door garnished with a transom window. The spacious formal Living Room and Dining Room, accented with custom mouldings and trimDining Room details, decorative columns and hardwoods, provides for great conversation to flow. Tucked quietly off the Living Room is the enormous Music Room featuring new soft carpeting and flanked by another french door with transom. Boasting additional custom cabinetry for storage this multi-purpose room; billiard room or playroom allows you to comfortably entertain with family and friends. As you continue your tour to the back of the home, the sun filled kitchen featuring new granite counters and polished hardwood floors; you immediately step down onto the plush carpet and relax in the casual living of the sky-lit fireplaced family room with cathedral ceiling and brick hearth with custom mantel.  Enjoy the view of nature and private play area through the expansive window adorned with custom shutters. Journey along and you find easy access to the second floor bedrooms by way of a back staircase.

Music Room 3The double doors of the Master Suite open to a tranquil space featuring a private sitting area with cathedral ceiling. Custom built-in cabinetry enhance the character and charm of the room and provide a wonderful hide-away spot for the television and additional storage. Neatly tucked into the corner are two walk-in closets and a full master bath featuring a whirlpool tub, tile floors with double vanity and granite counters.

The three other bedrooms on the second floor feature custom double closets with Elfa closet organizers, all new plush carpeting and fresh neutral paint. Located between two bedrooms is the comfortably sized family bath offering tiled floors, double vanity and upgraded with granite counters. For your personal showing, please call me at 508-479-2106. Value Range Marketing, this home is priced at $679,000-$700,000. View the MLS Listing

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Buying or Selling a Home … How Accurate is Zillow in Determining Market Value?

Many buyers and sellers refer to Zillow’s Zestimate before they buy or sell a home.  This video offers a great explanation, hopefully saving you valuable time and money when you are negotiating an offer.

Thinking of buying or selling a home, or know someone who is considering a move, please call me. I can help you find a realtor at your destination location, a no cost or obligation service!  “Your Guide to Better Living”

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10 Tips to Help Seniors Downsize to Simpler Living

senior-downsizingSimpler living sounds appealing to most of us, however, it takes on an entirely new meaning for a senior needing to relocate and downsize to a new home. I recently began on this journey with a client and their family and the challenges they faced were not unique to them.  Below are 10 tips I learned along the way.

1. Sensitivity and Patience. Emotions are all over the place when a senior begins this process. It may even have been their suggestion to make the change, however, this is a time of much needed sensitivity and patience as they navigate the process for themselves. If you are planning to list and sell the home in the near future, give yourself atleast six months to clear the home at their pace and then prepare it for the sale.

Their “stuff” is much more than material, it represents a time in their life and deciding which items to keep, sell and donate is an overwhelming and understandably stressful event.

2. Acquire New Floor Plan. Knowing the space constraints of the new living environment will make it easier  to tag appropriately through the sorting process. Plan your move with consideration to their new lifestyle; will they be cooking often, entertaining large groups of people, etc.  It can become quite an emotional event for your senior to have to remove an item of furniture or knick knack  after the move, therefore, itemizing exactly which pieces are traveling with them prior makes the transition much easier. It would be such an uplifting feeling to be able to “add” a memorable piece after the move, than to take away.

3. Before You Begin. Take a day to spend with your family member and talk about the move and what to expect. Get your loved one involved by giving them small tasks to do;  such as going through a desk drawer; a box from the attic; a less sentimental room or a closet.  Start small, 15 to 20 minutes a day on one task with the least emotional attachment will  help them get into the process.

4. The Sorting Process. Seniors usually like to keep things that have sentimental value. Be gentle.  A good approach is to suggest the positive benefit of someone else enjoying their cherished item.  For those hard to part pieces, a family heirloom treasure allows seniors to realize they’ve touched many people through their years with a memory to share. Multi-colored stickers or post-it notes offer a great way to maintain organization. Label items with stickers; “green” stickers for items that move to the new place; “red” stickers for items that  do not move on and “yellow” for the undecided items that need to be readdressed.

5. Pictures Provide Placement. Replicating their old environment in their new space will help seniors adjust to their new environment. It takes most new homeowners six months to a year to “naturally” develop a functional flow. Seniors have this down pat at their age, so it is best to try to arrange furniture similar to their existing home. Accessorizing comparably will help your loved one make their new place feel more like their home.

8. Hire outside help. The enormity of this task can be daunting for everyone involved. Enlist the help of others; friends, family, neighbors as needed to make this more calming and enjoyable for everybody.  Senior Move Managers and Home Helpers are growing in popularity today. The  NASMM (National Association of Senior Move Managers) is great resources to help you determine the types of services available to you. 

9. Lastly. Allow your senior time to say goodbye. It is a big change. Help them move forward with collecting and organizing the 3P’s for their move to their new home … the paperwork, pills and pictures.  Their paperwork can include legal documents; memorable cards; letters;  grandchildren’s artwork, etc. Pills that are no longer being used can be discarded in the trash, as long as they have been mixed with something unpalatable, per the U.S. Food and Drug Administration. Determine which pictures they would like to have displayed. Label these pictures with the person, location and date so they can easily recall the moment.

10. Once They Move. Be patient with your senior after their move.  It is not uncommon for seniors to experience remorse and become slightly depressed. Adjusting to their new lifestyle is an ongoing process that could take months. Help them engage with others in their new surrounding, developing consistencies and routines help them plan their tomorrows and visualize their future taking shape.

Relocating and need to find a destination realtor! Let me do the leg work for you. Contact me at jean.curley@nemoves.com or call at 508-479-2106.

 

 

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Real Estate Factoid #3 – Is the American Dream Alive in 2014?

 

courtesy of npr.org

courtesy of npr.org

96 percent say owning a home is important.

78 percent say that home ownership is an important part of the American dream.

72 percent say that finding the right home and community are key to their family’s happiness.

64 percent say a good real estate agent can help them make the right choices about the type of  home and community they want.

62 percent say a good agent can help maximize home ownership investment.

Factoid of the day

—By REALTOR® Magazine                                                              

 

 

Thinking of buying or selling a home, or know someone who is considering a move, please call me. I can help you find a realtor at your destination location, a no cost or obligation service!

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Will Buyer’s and Sellers Jump off the Fence in 2014?

jump off the fenceConsumers are more committed to buying or selling this year, according to Prudential Real Estate’s fourth quarter Consumer Outlook Survey. Of the 2,500 consumers surveyed, 78 percent held a favorable view of real estate, a five-point jump from the previous quarter and 15 points higher than at the end of 2012. Sixty-three percent said they were more committed to buying and selling in 2014.

One generation in particular has a favorable perception of real estate right now: Millennials. The generation peaked at 87 percent with a favorable perception of real estate in the latest survey.

“Consumers understand that the U.S. economy and residential real estate continue moving in positive directions,” says Earl Lee, CEO of HSF Affiliates LLC. “Accordingly, they’re feeling much better about their personal situations and want to take advantage of attractive home prices in many markets and interest rates that remain low by historical standards.”

However, two events in 2013 — the government sequestration and rising interest rates — have influenced their personal finance decisions, consumers say.

And while they’re optimistic, consumers are also realistic, believing that the rate of appreciation of U.S. home values will slow after a strong run in 2013. They say their No. 1 concern about the housing market is “decreasing home values,” followed by “saving enough for a down payment.” Respondents to the survey also say that tight housing inventories would likely impact their home-buying decisions this year, and 67 percent expect to face more buyer competition.

“Normalcy is returning to residential real estate,” says Lee. “People are seeking homes for all the right reasons: to gain shelter and security, raise a family, and generate long-term wealth.”

Other findings from the survey:

  • 96 percent say owning a home is important.
  • 78 percent say that home ownership is an important part of the American dream.
  • 72 percent say that finding the right home and community are key to their family’s happiness.
  • 64 percent say a good real estate agent can help them make the right choices about the type of home and community they want.
  • 62 percent say a good agent can help maximize home ownership investment.

—By REALTOR® Magazine

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Would Cupid’s Arrow Strike Someone Who Lives With Their Parents?

Valentine’s Day is just around the corner and Cupid’s arrow is about to strike. With more millennials living at home after graduation, this begs the question – would you date someone who lives with their parents?

Coldwell Banker surveyed more than 2000+ Americans and found that the majority of Americans (72 percent) are okay with dating someone who is living with mom and dad.  Not surprisingly, this is especially true among those ages 18-29 (80 percent), considering millennials think it’s perfectly fine to live at home for up to five years after college.

“Today’s dating habits are evolving as living with your parents is becoming the norm,” says Dr. Robi Ludwig, leading psychotherapist and Coldwell Banker Real Estate lifestyle correspondent. “There is now less of a stigma around living with mom and dad, which has led to dating someone in this situation to be more acceptable. The boomerang phenomenon is directly impacting the way in which we view dating and the relationships that transpire from these arrangements.”

When it comes to the battle of the sexes, men should take heed – 37 percent of women say that they would not date someone who lives with their parents compared to 18 percent of men– that’s more than double. While men seem to be more forgiving in their dating standards, moving out into one’s own pad may be the key to a flourishing love life.

“For those who are in this living arrangement, it’s important to set a plan to eventually transition to the next phase of their lives,” adds Dr. Ludwig.

So while it’s okay to spoil your sweetheart with flowers and chocolates on February 14, it may be wiser to start looking for that love shack – with the help of Coldwell Banker, and me, of course!
Source: CBRB Blue Matters

Thinking of buying or selling a home, or know someone who is considering a move, please call me. I can help you find a realtor at your destination location, a no cost or obligation service!

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7 “No Sweat” Bath Improvements To Increase Your Resale Value

Every homeowner must pay for routine home maintenance, such as replacing worn-out plumbing components or staining the deck, but some choose to make improvements with the intention of increasing the home’s value.  Here are 8 sure fire bathroom upgrades to add some bling in your buyer’s eyes.

Water Resistant Beadboard Paneling

A light upgrade that can have a heavy impact on your buyers. This low-maintenance wall tile is thriftier than most at about $15. for a 3 foot-high piece. Made from cellular PVC, it stands up to kids play and never needs to be painted. Swanstone offers at a higher price point a water resistant panel that offers 33 colors.

Courtesy of TOH

A Harmonious Color Palette

Create a cohesive effect with a monochromatic color scheme by painting your walls to match your floor. Bathrooms tend to have a lot of little things here and there, therefore, a solitary color scheme can help make it uniform and soothing to your soul and your buyer’s eye.

Mildew-resistant bath paint in a semi-gloss finish cleans up nicely.

Bathroom Bling

Add the Bling

This is one of my favorite home improvements that will surely ignite excitement in a buyer. Most homes on the market lack the bling in the bath. No matter the size or function there are plenty of elegant lighting fixtures to choose from.

If installed over a tub, be sure there’s atleast 8 feet of clearance from the tub rim to the bottom of the pendant to comply with electrical codes.

Craft a Mirrored Overlay

You don’t need to be a master craftsman to create this beautifully finished piece of art. What an easy alternative to  builder’s quality plain plate glass.

Three mirrors were created from one singular glass piece by piecing together a 1×8 at the top and gluing 1×6 stiles with a 1×4 bottom rail (not pictured) and capped off with a 1×2 crown ledge. Continue with the monochromatic theme and you have created elegance.

Very affordable and under $75 in materials.

Courtesy of TOH

Low Maintenance Vinyl Shutters

Always pleasing to the New England buyers are the louvered shutters. The Plantation Shutters are very popular today and are being used in all rooms. Clean and crisp, these shutters echo style in all rooms, the  kitchen, family and bedrooms.

These bathroom vinyl louvered shutters are mold and warp resistant allowing subtle illumination while providing privacy and warmth to your room.

Courtesy of TOH

Install Wall Mounted Faux Candles

These simple but elegant battery-powered  LED wall mounted faux candles hang as easy as a picture. They offer you the character and charm without the worry of a fire hazard.

Today there are many designs representing all decorating styles with coordinating accessories to complete your bath.

Another affordable bling item to excite your impending buyer.

A Touch of the Old with the New

Again, one of my favorites and something I intend to bring to my own bath. Everyone has an extra bureau or cabinet that has lived it’s life. Think outside the box and re-purpose with some old paint as a vanity in your bathroom.

DIY Network is a great “how to” online resources  to help you get it just right. What better way to clean out the basement?

 

Thinking of buying or selling or know someone who is considering a move, please call me. I can help you find a realtor at your destination location, a no cost or obligation service!

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“Home Sweet Home” with Motley Crue

Now this is what it is all about!

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Real Estate Fact #2 – Loan Applications Up While Rates Decrease

Factoid of the dayMortgage applications are back on the rise according to the Mortgage Banker’s Association after a 13 year low at the end of last year.

Mortgage applications rose 4.7 percent on a seasonally adjusted basis for the week ending January 17th. These applications include both refinancing and home purchase loans. Demand for refinancing increased 10 percent over the previous week while home purchase applications dropped 4 percent.

All being said, the mortgage rates have been declining for the past two weeks. The average rate on a 30 year fixed rate mortgage fell from 4.66 percent to 4.57 percent just last week. That marks the lowest average rate for the 30 year loan since November 2013, according to the MBA.

 Call me for all your real estate needs.

 

 

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