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One of the most exciting parts of building a new home is the opportunity to put your own stamp on it. From flooring and lighting to appliances and countertops, there certainly is no shortage of choices available when the time comes to select the perfect balance of colors, textures and finishes that reflect your taste.
The Great Recession may be in the rear-view mirror, but its effects on household formation are still being felt. According to researchers, 1.2 million more adults live with their parents than just eight years ago.
To own or rent, that is the question that continues to weigh on the minds of potential homebuyers everywhere. While the gap may have narrowed over the past year due to rising mortgage rates and home values, buying is still a better bargain than renting in most communities across the country – including Phoenix and Tucson -- according to an online real estate company.
If you’re under the impression home sizes are getting larger, you’re correct. According to recently released data from the U.S. Census Bureau, today’s average new home is about 300 square feet bigger than it was four to five years ago -- 2,679 square feet in 2013, compared to 2,362 square feet in 2009.
Let’s be honest: moving can be stressful. But, it also can be exhilarating, especially as you begin acclimating to your new surroundings.
More than 78 million strong, baby boomers are reaching retirement age (65) at a record pace—10,000 per day, to be exact, according to the Pew Research Center — and living years longer than previous generations. By the time all the boomers will have turned 65 in 2030, 18 percent of the nation’s population will be at least that age, according to the research center’s projections. Compare that to the population makeup just four years ago, when a little more than 10 percent of Americans were ages 65 and older.
The holidays are over, the calendar has turned a new page and, like many people, you find yourself with a renewed enthusiasm for self-improvement. According to statistics from the University of Scranton, nearly half of Americans regularly make New Year’s resolutions, with weight loss, organization and improved finances ranking among their top three goals.
People buy and sell homes for a variety of reasons. Understanding their motivation and their experiences is the goal of the annual Profile of Buyers and Sellers survey conducted by the National Association of Realtors (NAR).
With Baby Boomers approaching retirement age in record numbers, and home values returning to a point where their owners are finally comfortable enough to sell, it’s easy to understand why builders are optimistic about the 55+ housing market these days.
’Tis the season to be jolly, to deck the halls and to buy presents for family and friends. But, did you know the holidays are also considered by some experts to be a good time to buy or sell a home?
Maybe it’s the relaxed attitude or the wide-open spaces. Whatever the cause, Westerners are the most likely people in the country to enjoy their neighbors (72 percent in the West, compared to 67 percent nationally) - despite being the worst about knowing their names.
By now, you’ve probably heard that Arizona, like other recovering states, is in short supply of new homes. While it’s true that inventory remains tight as builders push to keep up with rising consumer demand, plenty of options exist in the marketplace for people looking to purchase a new versus a resale home.
A recent change in federal housing guidelines could set the stage for up to 2.5 million formerly foreclosed homeowners and short salers to re-enter the housing market sooner rather than later.
Ever heard of a HERS rating? If you’re in the market for a new home you probably have come across this term more than once and may have even added it to your own vocabulary.
We’ve always known home buying is an entirely subjective experience, largely dependent on personal circumstances and tastes. Now, two national surveys shed light on how generational differences can influence the choices buyers make concerning home size, location and age.
Once a staple of pre-World War II culture, the multi-generational household is staging a comeback. The trend, which has young adults boomeranging back into their parents’ houses and aging parents moving in with their grown children and grandchildren, not only is changing the way people live, it’s also impacting the way homebuilders build.
If you’ve been considering making the jump from renter to homeowner, here’s some news that could help make up your mind. According to online real estate company Trulia, buying remains cheaper than renting in most communities across the country as long as mortgage rates stay below 10.5 percent. Even with the recent increase in the 30-year fixed rate to 3.9 percent, it’s still 41 percent cheaper to buy a new home than rent one, nationally.
For most people, buying a new home is one of the single-largest purchases they’ll make in a lifetime. But with so many choices available, how can a buyer feel confident in their selection? Choosing to do business with a reputable homebuilder is one way to gain peace of mind.
You might naturally assume that with the uptick in homebuilding activity across the country and the economy’s steady improvement, homebuilders everywhere would be jumping for joy. Not exactly.
Despite rising housing prices, homeownership remains within reach for the majority of Americans, according to information released last month by the National Association of Home Builders.
More convenience. More customization. More connectivity. That’s what buyers will find in the New Arizona Living Collection, a collection of next-generation home designs Maracay Homes unveiled recently. The result of more than $4 million in investment and two-plus years of research and market observation, the 46 entirely new floor plans – organized into eight separate series – address the unique needs, preferences and lifestyles of the post-recession Arizona homebuyer.
A new study quantifies for the first time the link between energy-efficient homes and mortgage risks, suggesting owners of Energy Star-certified houses are less likely to default on their home loans than members of a control group.
Most of us already realize “normal” is relative. Yet, we are only human. And as such, we can scarcely stop ourselves from the very-human behavior of seizing every available opportunity to try to quantify and define the term.
If you’ve been considering making a move, how do you know when it’s the right time to sell your home? It’s an age-old question and one that seems to be at the forefront of many people’s minds these days as home prices continue to climb and the market regains strength.
Here’s an interesting fact: it’s possible to purchase a more expensive, newer home and achieve the same annual operating costs associated with owning an older, existing home.
There is a constant stream of economic data available for review and it’s always fascinating to hear various economists’ viewpoints. However, a recent overview from the Local Market Monitor, a noted real estate industry analyst, seemed to sum up the current outlook quite succinctly. Here is an excerpt highlighting the strong relationship between the real estate market and the continuing economic recovery.
While it is true that ‘all real estate is local’ it is also helpful to understand the larger picture and be mindful of how the real estate industry is performing overall – and for the purposes of this article, specifically the U.S. residential real estate market.