If you're thinking of buying a new construction, you probably already know that every new development will have its own sales staff. These people are often friendly, helpful and very knowledgeable about the new condominium or new house. However, the on-site sales people work to sell this property only. That means that the on-site staff of a new condominium knows the property as-well-as or better than anyone around and they are there to assist you. But that also means that the on-site sales staff works for the builder.
When in the market for a new condo or a new home, it's a good idea to employ a buyer's agent such to protect your interests. A condominium agent knows the entire area, not just one property. A buyer's agent knows the pitfalls and benefits of buying new, and best of all it won't cost you one dime more than if you use the onsite staff. You have a right to representation: exercise that right today!
[read more about Buyer's Representation]
[new homes for sale]
A survey by American Lives, a consumer research firm in California, conducted a study for the trade magazine Builder to answer that question. Here are their conclusions:
They are young. Most are under 45. Half said they had annual household incomes of $75,000 or less. Two-thirds are married.
They are frugal. They consistently told surveyors they were eager to live a simple lifestyle.
They are concerned about their financial future. About 70 percent said the economy is “not so good” with 27 percent saying it was getting worse and 27 percent saying it was getting better, and two-thirds saying it would get better in a year. Some 55 percent said they were concerned that they might lose their jobs.
They see themselves as energy efficient but not necessarily “green.” About 32 percent said they’d pay extra for energy-efficient features but only 16 percent said they’d pay extra for recycled or renewable construction materials.
Neighborhood is important. Ninety-five percent said they thought the community was as important as the home itself. Seventy-nine percent wanted the most square footage they could afford, but 69 percent said they’d consider a smaller home in the right neighborhood.
A study from Bankrate found that 90 percent of owners do not regret buying their home.
The findings also revealed improved mortgage awareness, with only 8 percent of home owners in the dark about what type of loan they have -- down from 26 percent two years ago.
The poll of 1,001 randomly selected home owners in August showed that 79 percent had fixed-rate financing, and this type of mortgage was used by almost 90 percent of respondents who make more than $75,000.
Source: Realty Times, Broderick Perkins (09/02/10)
With more home buyers interested in eco-friendly features, property stagers are placing more emphasis on the overall performance of green dwellings.
To give their listings a competitive edge, they can perform an energy audit and indicate the changes and upgrades made as a result to boost energy efficiency.
They also should provide a checklist detailing the benefits of the home's green features, ensure cleaning products in cabinets are eco-friendly and food in pantries is organic, and include an aesthetically pleasing recycling center that goes beyond the traditional blue bins.
Additionally, chemical odors should be eliminated from the home, living plants should be added a to help enhance indoor air quality, sustainable upgrades should be encouraged, and eco-friendly landscaping like vegetable gardens and native grasses should be chosen over lawns that require a lot of maintenance.
Source: RISMedia (06/16/10)
According to research economist Jessica Lautz, "More than one-third of all home buyers buy a home for the desire to own. This has been the most cited reason consistently for the last several years, but it is even more true of single female buyers. Nearly half of single female buyers purchase a home because they have a desire to own a home. The second most cited reason for single female buyers in choosing to purchase a home is a change in family situation—13 percent of single female buyers purchase for this reason, compared to 9 percent of all buyers.
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"In comparison to other household types, single female buyers are more likely to have lived with parents, relatives or friends before buying their own residence, 20 percent compared to 12 percent of all buyers. Single female buyers are also more likely to rent an apartment or house before buying their own place compared to all buyers. Both previous living situations are related to the large share of single female buyers being first-time buyers."
Her research indicates: "The median age of all home buyers was 39 years old, compared to 41 for single female buyers. Among single-female buyers, 58 percent were first-time home buyers in 2009, compared to 47 percent of all home buyers. The median household income for single-women home buyers was lower than that of all other homebuyer household types. Single females reported a median household income of $47,900 in 2008 compared to $73,100 among all home buying households. This difference in household income should not be completely surprising as 68 percent of home buying households are couples – and so perhaps likely to have two income earners. The difference in median income for single women households compared to those for single men is less striking—single men typically made $53,700 in 2008. Additionally, single women households are less likely to have children living at home than couples. Results from the survey show that 22 percent of single women home buyers have children at home, while 38 percent of all home buyers have children at home."
Source NAR
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If you're thinking of buying a new construction, you probably already know that every new development will have its own sales staff. These people are often friendly, helpful and very knowledgeable about the new condominium or new house. However, the on-site sales people work to sell this property only. That means that the on-site staff of a new condominium knows the property as-well-as or better than anyone around and they are there to assist you. But that also means that the on-site sales staff works for the builder.
When in the market for a new condo or a new home, it's a good idea to employ a buyer's agent such to protect your interests. A condominium agent knows the entire area, not just one property. A buyer's agent knows the pitfalls and benefits of buying new, and best of all it won't cost you one dime more than if you use the onsite staff. You have a right to representation: exercise that right today!
[read more about Buyer's Representation]
[new homes for sale]
