Motivations for Buyers To Move During the Current Housing Market

The current housing market is flooded with buyers with low-interest rates and slim inventory making it hard to compete. So what motivates these buyers to make the decision to move during the current market? Buyers across the country blame it on the health crisis. Your living space has become one of the most valuable assets during these uncertain times.

“For customers who cited COVID-19 as an influence on their move in 2020, the top reasons associated with COVID-19 were concerns for personal and family health and wellbeing (60%); desires to be closer to family (59%); 57% moved due to changes in employment status or work arrangement (including the ability to work remotely); and 53% desired a lifestyle change or improvement of quality of life,” according to the 2020 Annual National Movers Study.

These different perspectives have shaped homebuyers' new view on homeownership. Here are some reasons why buyers are considering now the time to buy.

1. Working from Home

This has become the norm in the working community. After the stay-at-home orders were mandated last year, the workforce had to change their perspective on working from home. Nowadays your work commute is not as important as it was in the past. There has been a residential migration because of remote working. Fifty-three percent expressed that they would be more likely to move.

2. Room for Fitness & Activities

Health has become more prevalent during the COVID-19 pandemic. This has become a top priority for all of us. Fitness Trends 2021: New Trends in Fitness [Global Report] states the fastest growing fitness training areas are at-home fitness equipment rising up 50%, personal trainers/nutritionists up 48% and online fitness courses, classes and subscriptions are up 17%. This means having a place at home for workouts is a must.

3. Outdoor Space

Now more than ever a place to enjoy nature is important when it comes to a home. Better Homes & Gardens released outdoor living trends which included that 60% of homeowners want an outdoor kitchen, edible gardens are also high on the list as well as secluded outdoor spaces.

Moving up to a bigger home might be your best option when it comes to accomodating any of these features. Now is the time to make the move with historically low mortgage rates. Take the plunge and choose a Realtor who knows your neighborhood and the current housing market.

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Stucco and Vinyl Make the Top List for Exteriors on New Construction Homes

The Census Bureau released their Survey of Construction (SOC) and data shows that the most used exterior finished in 2020 for a new single-family home was stucco. The report revealed that 28% of new homes started in 2020 the principal exterior material was stucco, 26% used vinyl, 21% used Hardiplank or Hardiboard, 19% brick of veer brick, wood products 4% and rock or stone materials only 1%.

The Survey of Construction (SOC) is a great resource distributed by the United States Census Bureau. The purpose of the survey is to gather the data on the current statistics for both national and regional starts, completions and characteristics of new construction on single-family and multifamily housing units. The report also includes sales of new single-family houses.

Along the different regions in the county, there were big differences in what was mainly used on the exteriors of homes in certain regions. Vinyl siding was used most in 5 out of the 9 census divisions. The report shows that in Middle Atlantic and New England vinyl was used as the primary exterior on 76% of new homes started in 2020, in the East 68%, West North Central 53%, and in East South Central 45%. Stucco won out in the Pacific division with 63%, Mountain came in with 50% and South Atlantic used the material on 39% of new single-family homes started in 2020. Brick or brick veneer was used the most in South Central with 64% and the East with 39%.

If you are in the market for a home, now is a great time to buy. The historically low-interest rates are in the buyer's favor. Remember if you are considering purchasing a home, use a licensed sales agent who can help you through the process.

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Coquille Parks and Recreations Is Growing Along With Its Community

 St. Tammany has seen a big growth spurt with the current housing market trends. The growth in the

area has also brought many new residents. Coquille Parks is expanding along with the community growth.

"This area has seen over 5% growth for the last five years," Richard Bentley-Smith, executive director at Coquille Parks and Recreation said. "We really are just trying to keep up with the growth of this area off La. 22 and U.S. 190 as much as possible, so we can offer a place for every kid to play. And not just baseball or football or volleyball, but we want as many kids in the area to come to our splashpad or playgrounds and not be overcrowded."

"The key to running a recreation department, no matter where you are, is listening to your community," Bentley-Smith said. "What Madisonville, Goodbee, Covington and the District 14 area wants may not be what Baton Rouge or even Slidell wants. So you have to really listen to your taxpayers and build to suit their needs."

This summer the center hosted a cheer camp for over 100 kids for the first time. In fact, organized program participation has grown 750% since 1999, when the recreation district was established. St. Tammany Recreation District 14 began with Little League ball fields in 1999  which consisted of 46 acres that were purchased by the Madisonville Youth Boosters. Currently, Coquille Park includes 130 acres fields, gyms, multipurpose facilities, tennis courts, playgrounds and outdoor exercise areas.

A bond that was passed at the beginning of 2021 will give the park the opportunity to focus on upgrades and maintenance. Bentley-Smith also hopes for additional funding in order to purchase additional land. The negotiations and funding are in the works for 35-acres of land next to the park.

A new baseball complex is slated to open next month. The park is also looking into purchasing outdoor fitness equipment and building a disk golf area as well as miniature golf courses. That's not all on the list of what is to come. A dog park is planned to open in the early spring of 2022, new trails are to be built through the wetlands area, and a campground with an accessible ball field will also be added.

"We listened to the public requests," Bentley-Smith said. "We build facilities based on what the public requests, and that includes the bond dollars. We heard the public, and we want to put those funds to the best use possible."

The new park will be for all residents from toddlers to senior citizens. Bentley-Smith gives the credit to the town of Madisonville where the two fields started out on Pine Street. The citizens and St. Tammany have come together to help the park continue to grow to meet the needs of the community.

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A Successful 2021 A Taste of Covington

This year A Taste of Covington 2021 was a success. Each year, restaurants and drinking establishments in Covington take part in this annual food, wine, music and art festival.

Patrons were local and visitors to the area. The proceeds for this year's A Taste of Covington went to the Covington Business Association which in turn helped to advance the interests of local businesses in the city's historic district.  The annual celebration took place the whole month of June.

A Taste of Covington began in 2012 and was mainly just for locals. As it expanded and became nationally known, it now brings visitors from all around to the event. In the past before COVID, the event took place over 5 days. In 2020 COVID pushed the event back to October 2020 and went to a month-long event.

The month-long event includes all-inclusive four-course or more dinners paired with wines. These vintner's dinners are held at participating restaurants throughout Covington. Also, there is the "Festa Del Vino" which is a tasting with live music, the "Grand Tasting which is an evening with live music and wine and ends with the Sunday Champagne Jazz Brunch.

The Grand Tasting this year was the final big event on June 26th. It was at Bogue Falaya Park Pavilion and had over 150 patrons attend. The guest could taste wines and purchase those they loved. Déjà Vu Band ended the night with patrons dancing to their tunes as the day ended with a beautiful sunset over the Bogue Falaya River.

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Current Lumber Shortage Takes No Toll on the Housing Market

Even with the lumber shortage and rising prices homeowners are still investing in their homes. Home Depot reported in May that their stock surged 20% so far in 2021.

"We continue to build on the momentum from our strategic investments and effectively manage the unprecedented demand for home improvement projects," Home Depot chairman and CEO Craig Menear said in a press release.

Menear says that the housing industry is steady and strong and will only continue to strengthen since COVID-19 restrictions are being lifted. More buyers are getting out there and looking and more sellers are eager to list their homes.

"The current shortage of new housing clearly is helping to drive improvements in the home values, which is a good thing for spending in the home," he added.

According to many other reports released, data shows continued demand for housing. Buyer demand is up and mortgage rates still remain at historic lows. Even with the shortage of lumber and other things such as a bottleneck in shipping appliances, new homes are still being built. The demand still sharply outways the current housing inventory.

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Several Reasons Why A Home Has Good Resale Value

When looking for a new home, it is always a good idea to purchase a home with good resale value. A house is a real estate investment and you never want to invest your money into something that will not profit a good return. Resale value can save buyers a lot of money in the long run but is not always a guarantee. When looking for a home, here are seven signs to look for to make sure the home you are purchasing is a good resale value.

1. The neighborhood's hopping...

When house hunting, don't just focus on the house itself but also the neighborhood and its surroundings. If you love to walk, make sure the neighborhood is walkable. It is always a plus to have good proximity to shopping and restaurants.

“If you buy in an area that is not well-developed and doesn’t have good infrastructure—like shopping close by—you will not have a high rate of return on the home,” says Realtor® Patricia Vosburgh. “The more amenities, the higher chances the home will sell faster and for more money,” Vosburgh explains.

2. ....but the street itself is quiet

As mentioned in the first sign, you want your neighborhood to be hopping but you do not want a restaurant right in your backyard. Even if you love the quaint place to get a bite to eat right next to your front door, not every buyer will think this way.

“We advise against buying on a busy street or purchasing a home surrounded by commercial properties nearby,” Vosburgh says.

3. The home's systems are in good shape

A home might be located in the right neighborhood and have all the bells and whistles, but if the major systems are old, you will spend a lot more on the home, making your return less likely.

Make sure to have a home inspection before you close. An inspector can give you a rundown on how your major systems are working. Before making an offer, closely inspect the roof, water heater, HVAC system, windows and foundation.

“When these items are new or in good standing, that’s a great sign,” Kukwa says.

4. The schools are great

If you do not have kids, then you think schools do not matter, but this is not necessarily the case. If you ever have to sell your home, you limit your buyers if you are not in a good school district.

“Even if buyers personally don’t have children, for resale it is imperative that they buy in a great school zone,” Vosburgh says.

“Often agents will advertise a property as being near such-and-such school area, but not necessarily specify the district, which can be very confusing,” explains Tina Maraj, a Realtor with Re/Max North Orange County in Fullerton, CA. “It can be a real eye-opener if a buyer closes and they’re on one side of a main street that is the dividing line between the top-rated and the lowest-rated high schools.”

5. The light is inspiring

No one wants to live in a dungeon. Natural light is a great selling factor.

“Any apartment in any neighborhood that has good light will sell—and will always sell,” says New York City broker Noemi Bitterman.

With good light, “there is always a good feeling—a feeling of embracing and belonging,” she continues. “When [a home] is dark, no matter how nice and new it is, it doesn’t feel inviting, it takes a much longer time to sell, and the price reflects the lack of light.”

6. The floor plan is family-friendly

Even if you do not have kids, this is a big selling point. A family-friendly home will more likely bring in a profit. Look for at least three bedrooms with an open concept kitchen and at least one bathtub.

“Look for a home with a floor plan that will appeal to families,” says broker Kris Lindahl.

“Buying a home that is too quirky or has very untraditional features can result in a decreased ROI and smaller pool of potential buyers in the future,” Kukwa says.

7. The community is restrictive

Who wants to buy a nice house and have the neighbors yard full of junk or the house a tacky color? Homeowners associations can be a pain sometimes, but they are a positive when it comes to resale value. HOA's are there to keep everyone in line and bring value to your home.

Good resale value is never a guarantee but with these seven indicators, a buyer has a better chance of purchasing a good investment. If you are in the market for a new home, contact a Realtor in your area.

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Seven Improvements To Make in Your Bathroom Before Selling Your Home

Two of the most important rooms during the sale of your home that should be in tip-top condition are the kitchen and the bathrooms.

“Kitchens and bathrooms sell homes,” says Kris Lindahl, CEO and founder of Kris Lindahl Real Estate. “If a buyer sees a bathroom that still needs projects or upgrades, the home is going to be much less appealing to them.”

To get top dollar for your home, here are some bathroom improvements that are a must.

1. Go for double sinks

Realtors and other home professionals will tell you that a double vanity upgrade is a must on most home buyers' checklists. Even a small bathroom can fit two small sinks which are better than one sink in a home with limited bathrooms.

“Upgrading to double sinks is always appreciated by buyers,” Lindahl says.

2. Install new bathroom hardware and accessories

This small task can update a dated bathroom in minutes. This DIY project takes only a screwdriver and a couple of hours to instantly give your bathroom a new look. It is ideal to have your faucet, doorknobs and shower frame complement each other and not clash.

“Swapping out hardware like light fixtures, towel bars, cabinet pulls and sink fixtures can make an impact relatively affordably,” Lindahl says.

Another simple trick to update your bathroom's look is to frame the mirror above the vanity. This tip is inexpensive and adds value to the space.

3. Replace or paint your vanity

The vanity is an important piece found in a bathroom for both functional and designer purposes. Many pros describe a bathroom vanity as the centerpiece in any bathroom. When updated a vanity make sure to use high-quality stone such as quartz or granite. If a new vanity is out of your price range, then paint the cabinets of your current vanity a high-gloss white or pale gray.

“Luxe sophistication and clean lines: That’s the theme for bathrooms in every price point,” Susan Kelleher, an associate broker at R New York. “I love the mirrored medicine cabinets from Restoration Hardware—functional, beautiful, and tres chic.”

4. Update old floors

A perfect way to add appeal to rooms is to update the floor. Carpet in your bathroom is not the desired look. This can be a DIY or hire contractor project.

“Updating old floors to tile or luxury vinyl tile really adds appeal,” Lindahl says.

5. Install new light fixtures

Simple, sophisticated light fixtures are what every bathroom needs. Updating the lighting and fixtures are simple yet dramatic changes.

“Great lighting [and] high-end faucets and hardware appeal to buyers in every price point,” Kelleher says.

“Updating light and plumbing fixtures is a quick way to modernize an old bath.”

6. Add space and storage

“Buyers are looking for more space in new homes, and the bathroom is no exception,” Turner says. “Think about expanding the shower in the master bathroom to fit a bench or seat. It’s an important feature that can be utilized in a lot of different ways.”

During the pandemic, homeowners have been finding ways to make the most of the space. Expanding a bathroom to have storage space or room for necessities is important to the current homebuyer. In fact, some professionals go as far as to say it might be worth borrowing space from a neighboring room to expand your bathroom.

“Take the adjacent linen closet to make a larger bathroom,” Kelleher says. “Even a small closet can make a big difference, and you can create cabinet space under each sink for maximum storage.”

7. Make your bathroom bright and light

Buyers are attracted to clean neutral colors in a bathroom. Potential buyers desire a clean slate. A neutral base to work from will make your bathroom improvements stand out.

“Classic white never goes out of style in a bathroom,” Lindahl says. “Replacing an old, colorful tub with a white one is a good idea.”

It's amazing what these simple steps can do to update your old drabby bathroom. If you are in the market to sell your home now is the time to make those improvements.

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