Aging is inevitable and wonderful! As baby boomers race into their Golden Years, the nation — and our housing industry — face big changes. According to a Census Bureau figures, about 38 percent of U.S. households presently are headed by someone over the age of 55. The National Association of Home Builders (NAHB) forecasts that figure will jump to 45 percent in the next five years.
If buying a new home is on your 2015 agenda, it may be to your advantage to sell your present home during the holiday season. Whatever a buyer’s motivation, a holiday sales strategy means one thing for sellers: Demand for homes can increase at a time when inventory is traditionally low. Here are a few ideas to consider when weighing whether this route is for you.
The nation’s housing industry managed to dodge the remaining potholes that continue to mar the road to full recovery, and in the process, turned in a strong showing in September. Housing starts surpassed the million mark for the third time this year, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Rising 6.3 percent during the month and 17.8 percent year-over-year, groundbreakings reached a seasonally adjusted annual rate of 1.017 million units.
In 2004, then-Phoenix Mayor Phil Gordon let it be known that he had identified a secret weapon in the fight against neighborhood crime and isolation. The deterrent wasn’t a literal weapon. It was a front porch bench, which served as the focal point of Gordon’s Front Porch Bench Initiative. In essence, the mayor urged Phoenix residents to buy a bench, place it in front of their homes and use it to get to know their neighbors.
After stalling out in the first half of the year, the national housing recovery appears to be on solid footing for a strong year-end finish, according to recently released reports from the U.S. Census Bureau and Department of Housing and Urban Development.
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 American Dream of homeownership is alive and well, just as it was before the housing crisis hit. Despite the extreme fallout from the Great Recession, people still want a place to call their own. A place where they can raise a family, make memories and live comfortably. And, while purchasing a new home provides tremendous opportunity for families looking to improve their lives, the implications are even greater to the economy as a whole.
We’ve heard for years how the weak job market, student-loan debt and tight lending standards have forced recent college graduates and other members of the millennial generation to live with their parents instead of owning houses of their own. But a recent study by Harvard’s Joint Center for Housing Studies indicates the situation may be on the verge of changing.
Ah, summertime in Arizona. A time for cooling off in the backyard swimming pool, barbecuing with family and neighbors and planning our seasonal escapes to cooler climates. It’s also the time when living in an energy-efficient home can mean the difference between receiving a monthly electricity bill that’s manageable and one that causes your blood to boil.
Modern features, customizable options and reduced maintenance are among the many reasons most Americans — twice as many to be exact — would prefer purchasing a new home rather than an existing home, according to the latest online survey from Trulia, a leading online residential real estate site. Of the more than 2,000 survey respondents interviewed last spring, 41 percent said they’d prefer buying a new home, whereas only 21 percent would choose an existing home. The remaining 38 percent of respondents had no preference.
Though the calendar won’t announce the official arrival of summer for a few more weeks, the Arizona heat already is settling in. Blasting the A/C may sound like a great plan, but it’s not so great for your energy use — or your wallet. From the air conditioner to the washing machine, a few adjustments can make a huge difference on your home and the environment. The grass will always be greener on your side of the fence with a little inspiration from these energy-saving tips.
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.
Computer technology has changed the way consumers shop for everything from shoes to homes. Thanks to easy access to online data, 90 percent of homebuyers surveyed by the National Association of Realtors in 2012 said the Internet was their top information source when searching for a home. Further, 62 percent of buyers who participated in the NAR poll reported that virtual tours propelled them to follow up with a personal visit to the homes they viewed online.
Job creation and construction spending are on the rise in the home building industry, government sources report. Though modest compared to their respective peaks, industry watchers agree the increases demonstrate market recovery continues its slow march forward.
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.
You’ve signed the contract, selected your cabinets, appliances and flooring, and waited patiently for your new home to be built. Finally, the moment you’ve been anticipating — the walk-through — arrives.
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).