Homeownership does have its benefits and most are not measured by growing wealth. If you or anyone you know is interested in purchasing a home in the near future, and would like to learn more, be sure to reach out and I’d be more than happy to help out
Many potential homeowners are looking for local amenities, such as schools, restaurants, entertainment and certainly public transportation. Younger generations of homebuyers are more interested in supporting zoning regulations to be change to allow for more transit-oriented developments.
For all your real estate needs, please feel free to contact me at ClarkSellsHomes@gmail.com or call me at 818.384.1622
Prices increased significantly this year. Average sale price is up over 16% from 2014. Sales volume also increased dramatically to 50 closed sales vs. only 37 last year. Interest rates continue to fluctuate, up to around 4% currently for a 30-year fixed mortgage. If the momentum continues, hopfully 2016 will be as good as 2015. We will continue to keep you updated, but please contact Clark with any questions. Thank you and Happy New Year!
What’s hot in real estate seems to be in a constant state of flux. Shag carpeting, parquet floors, and avocado green appliances are no longer popular. But there are new movements shaping the national and local markets. It’s hard to distill this into just a few, but here are some of the most significant trends that continue to impact the world of real estate. #MILLENIALS Millenials, adults under 34-ish, already account for the largest share of home buyers (32% last year according to NAR). Not only that, but millenial house purchases are expected to continue to increase as the economy improves and young folks begin to feel stable at work. Urbanization was a huge trend over the last decade as city centers exploded with new construction and an influx of young people. But perhaps the biggest change coming is the return to the suburbs. A new NAHB survey of people born after 1977 found that 66% want to live in the suburbs, 24% in rural areas, and only 10% in city centers. This is great news for the San Fernando Valley and suburbs around the country. #SuburbiaWins
SMALLER IS THE NEW BIGGER
In the second half of the 20th century, the average size of houses more than doubled. Four to five bedrooms became the norm for new construction as larger and larger houses replaced the 3+1 bungalows of the 1950s here in Los Angeles and elsewhere in the country. But that trend is now reversing course. Many homebuyers are looking for smaller digs due to their many advantages: lower prices, less space to clean, and a simple way to purge or simplify. Some are even going to the extreme. The “Small House” movement has folks moving into homes under 500 square feet, sometimes even under 100 square feet! Some of these are professionally manufactured; some are totally
DIY. SHORT-TERM RENTALS ARE HERE TO STAY
Sites like vrbo.com and airbnb.com have made it easy for homeowners to lease out their properties for terms as short as one day. Initially this impacted the hotel industry as savvy tourists looked for bargains on these new websites. But the trend is also affecting the way some buyers and sellers view real estate. Is a property good for renting out short-term? Is it close to popular tourist attractions? Perhaps it has a separate entrance or guest house. These can be a great option for homeowners looking to profit from short-term rentals. Just be aware of the work and risks involved.
Clark Hill – Century 21
Buyer Optimism has been at an all time high in 2014! This just shows that there is a great deal of confidence in today’s real estate market. A healthy real estate market shows that we are having a strong economic standing in 2014 and going forward. For all your real estate needs in the San Fernando Valley, please feel free to contact me at ClarkSellsHomes@Gmail.com or call me at 818.384.1622
Here’s my first article on realty times! If you are a homeowner looking to sell your home, here are some helpful tips on staging your home to appeal to a large number of potential buyers 🙂
For all your real estate needs, please feel free to call me at 818.384.1622 or email me at ClarkSellsHomes@Gmail.com