Single Buyers Choosing Suburbia Over Cities

Some 52 percent of single home buyers in April chose suburban locations over urban and rural areas, according to a survey by Coldwell Banker of 1,000 single buyers.

· More than 53 percent of single home owners reported that they purchased a home because it was more cost effective than renting in their area, while 68 percent of single home owners purchased a home that was less expensive than they believed they could have afforded to pay.

· Some 55 percent have less than a 30-minute commute to their office or work from home.

· Singles don’t shy away from foreclosures – especially single men. Thirty-eight percent would currently consider purchasing a foreclosed/short sale home, compared to 29 percent of single women.

· Of the 13 percent of single home owners who own their home jointly with another person, 49 percent made the purchase with their parents. Forty percent live less than 30 minutes or even in the same neighborhood as their parents or extended family. An additional 12 percent live with at least one family member.

· Number of bedrooms is important to 27 percent of single women, while only 18 percent of men were concerned.

Source: Coldwell Banker Real Estate (06/18/2010)

Home Fads That Are Falling Out of Style

By Melissa Dittmann Tracey  styledstagedsold

LAS VEGAS – Some home features don’t stay popular forever. More homes are inching away from incorporating the following home features, according to recent consumer preference surveys.

1. Fireplaces: The fireplace skyrocketed in importance in homes in 1991 with 62 percent of new homes having one or more. But the number has steadily been decreasing ever since. In 2007, the number dropped to 51 percent.

2. Carpet: While 54 percent of homes still have carpet floors, the number is decreasing and hardwood floors are taking the place. Vinyl and ceramic tile flooring also are being bypassed more by buyers. Seventeen percent of new homes contain hardwood floors throughout the entire house.

3. Living room: These once-decorative centerpieces of homes are slowly vanishing from newer homes. Thirty-four percent of consumers say they’re willing to buy a home without a living room.

4. Desks in the kitchen: These desks were once looked at as great storage areas but they’re often too small and quickly become clutter spaces in a home, said Gayle Butler, editor in chief of Better Homes and Gardens. Instead, more consumers say they prefer larger desks in or near the family room—equipped with a messaging center—where they can keep an eye on their kids as they work on the computer.

5. Skylights: The little windows that allow natural light to seep into a home from above are falling out of style. Only 10 percent of new homes will include them this year, a continuing downward spiral for skylights.

6. Upscale kitchen finishes: Granite countertops are slowly becoming less desirable among buyers who are now moving toward affordable, low-maintenance laminate countertops—which tend to last longer and now come in various styles.

What trends are you noticing are falling out of favor with your buyers?

Living in a Historic community and having 4 fireplaces which I LOVE- I do not agree with this one 🙂 – you just can not beat my heat sucking beauties!   I’m also not a fan of Granite- I have butcher block… I think next I would want concrete buffed..

High Gas Prices Get More Buyers Moving In

A survey of 900 Coldwell Banker associates reports that 96 percent think rising gas prices concern their clients and 78 percent say higher fuel costs are increasing buyers’ appetite for city living.

Homes in cities and neighborhoods that require long commutes and don’t provide enough public transportation alternatives are falling in value more quickly than those in more central locations, according to a May study by CEOs for Cities, a network of U.S. urban leaders.

In Atlanta, Mike Wright, an associate with Prudential Georgia Realty, says that real estate within the city perimeter has been selling better than properties outside the city, reflecting a trend of people moving “closer-in.”

In Florida, real estate professor Bill Weaver sees this as possibly the beginning of a shift to a more European approach to finding homes.

“Transportation costs in Europe have been so high for so long that they already take transportation into account when they buy a home,” Weaver says. “We’ve just been behind on that. In that regard, you might look at high gas prices as sort of a silver lining.”

Source: The Associated Press, Adrian Sainz