Millennials are known to shake things up, and the upper-tier real estate market is no exception. A recent report published by Engel & Völkers found that affluent millennials have a different perception of what constitutes “luxury” compared to previous generations. In this report entitled “Meet H.E.N.R.Y.: Influencing the Next Generation of Wealth,” Engel & Völkers […]
Your Fabulous New Dream Home is Now Available
Over the last several years, many “baby boomers” have undergone a metamorphosis. Their children have finally moved out and they can now dream about their own future. For many, a change in lifestyle might necessitate a change in the type of home they live in. That two-story, four-bedroom colonial with three bathrooms no longer fits […]
2 Trends Helping Keep Housing Affordable
Two positive trends have started to emerge that impact the 2019 Spring Housing Market. Mortgage interest rates for a 30-year fixed rate loan have dropped to new lows, right as reports show that wages have increased at their highest rate in decades! These two factors have helped keep housing affordable despite low supply of houses […]
Home Storage Needs of the Affluent
Most people dream of having the finer things in life, but people don’t often talk about how to store them. Luxury items often require specialized care, whether it be a temperature-controlled storage space or customizing an existing feature of your home to better suit your storage needs, you’ll likely need to put some extra thought […]
What Would Make You Sell Your House?
There are many reasons why a homeowner decides to sell their house and move. The latest Generational Trends Report from the National Association of Realtors asked recent home sellers to share their reason for moving. The younger the respondents, the more likely their top response centered around needing a larger home (ages 29 to 53). […]
How Quickly Can You Save Your Down Payment?
Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take to save for a down payment in each state. Using data from HUD, Census and […]
Existing Home Sales Slow to Start Spring [INFOGRAPHIC]
Some Highlights: Existing Home Sales slowed to an annual pace of 5.21 million home sales in March. Low inventory levels are still impacting home sales! The current month’s supply of homes for sale is 3.9-months. Median home prices were up 3.8% over last March at $259,400. This marked the 85th consecutive month with year-over-year price […]
5 Home Vineyards That Will Make You Feel Like You’re in Tuscany
Fine wine is enjoyed by both “new” and “old” money clients alike. However, for those with a special affinity for wine, a simple wine cellar won’t cut it. As a high-end real estate agent, you are tasked with providing options to your clients that go above and beyond what they may think is possible. So, […]
Renters Paying Substantially More While Owning Costs Less
In a recent Insights Blog, CoreLogic reported that rent prices have skyrocketed since 2005. Meanwhile, the typical mortgage payment has actually decreased. “CoreLogic’s national rent index was up 36% in December 2018 compared with December 2005, while the typical mortgage payment was down 4% over that period.” Why the difference between the costs of renting […]
New Study Reveals One Surprising Reason for the Inventory Shortage
There has been a great amount written on millennials and their impact on the housing market. However, the headlines often contradict each other. Some claim this generation is becoming the largest share of first-time home buyers, while others claim millennials don’t want to own a home, blaming them for the dip in homeownership rate. While […]
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