Ever tried on a “one size fits all” item and discovered it may indeed fit, but not correctly, not perfectly, and certainly not comfortably! Personally, I’ve never really liked the concept of one size for all or one style for all. I’ve always been a fan of special, unique, one of a kind, personalized. I feel the same about my home. I don’t follow the trends because the trends don’t always fit my needs.
For many years now, the average size of a newly built home has been going up. In fact, by 2015, the typical new home was 2,689 square feet – by comparison, the average was 1,660 square feet in 1974. That longtime trend took a step back last year, however. In 2016, the average new home fell 55 square feet. And, though that doesn't sound like much, it is the first time in eight years new homes were smaller than the year before, according to Rose Quint, the National Association of Home Builders assistant vice president for survey research. “The data on new home characteristics show a pattern,” Quint said.
When considering home improvement projects that can add value to your home or even help it sell faster, don't forget to pay some attention to your lawn and landscaping. Good landscape design can help you get a better price when it's time to move but will also help beautify your neighborhood and please you as well as your neighbors in the meantime.
If you aren't that handy in the garden, start with your lawn. A recent article from Freddie Mac lays out a number of tips to help you get started. Among them, it's good to first identify what type of grass you have. This will help you know what seed to buy if you need to fill any dead spots. You should also be careful not to cut your lawn too short or give it too much water.
Grass needs a little length to help it absorb sunlight and maintain healthy roots. Too much watering can also damage roots and will cause more weeds to grow. Another tip is to be careful with fertilizers and pesticides. Break fertilizer applications up throughout the season rather than doing it all at once.
June 2017 Snapshot
Source: Information and Real Estate Services, LLC | Information deemed reliable but not guaranteed
Our natural inclination is to see the real estate market as two separate halves of one whole. Half of all real estate transactions consist of buyers and they are focused on a certain set of criteria. The other half are those who own a home. They are interested in selling and their focus is on an entirely different set of criteria.
However, like life itself, real estate isn’t really that cut and dried, precise and neat. Many home owners who are selling are also home buyers seeking another place to call home. This adds a complicated layer to the experience, as timing takes on a whole new priority in these cases. Most sellers who are also buyers have only one contingency plan. The plan is to coordinate the precisely exacting details for a smooth move from one home to the next with nary a beat being missed between the two halves of two transactions!
Most of us realize that real estate transactions tend to include a hiccup or two along the way to the closing table. Why is this information important in understanding any discussion of real estate trends and insights in our current market place?
It’s like putting an elephant on one side of the seesaw and an infant potbelly pig on the other! The delicate balance required by these “selling buyers” has been set topsy turvy by the limited inventory levels, which in turn has thrown the whole of the market off-balance.
According to 65.6% of real estate agents surveyed, they say this is the greatest challenge in their local marketplaces.