Real Estate

Where are the investors Think Realty Where are the investors? | Think Realty

Where are the investors? | Think Realty

Changes are afoot in the real estate market in 2024 as investors flock to emerging hot spots and retreat from traditional strongholds. The housing market has always been local, and 2024 housing market trends are proving that with substantial market variation in retail inventory, home price appreciation, and even the onset of foreclosures. These retail trends, in turn, are driving interest from local community developers who buy on Auction.com. “Chattanooga has just been flooded with investors from California and elsewhere … there are no properties that can be bought and paid for there,” said Steve Johnson, an Auction.com buyer who lives in Chattanooga but decided to start buying properties across the border in Georgia when Chattanooga became out of reach due to prices. “These smaller, less urban counties and cities are gold mines for finding properties that are overlooked by big investors and resellers. But there are a huge number of people looking for a home.” Sue McCormick, an Atlanta-based buyer for Auction.com, told a similar story. “I wanted to start investing, but Atlanta is a little expensive,” said McCormick, who decided to start investing in Dayton, Ohio, where he grew up. “I started investing in my hometown because it was easier to get into.” Tendering activity as a barometer of the retail market The buying and bidding activity of investors like McCormick and Johnson acts as a reliable barometer of the strength of the local retail market. Specifically, the proportion of buyers in each market who purchase outside their home market provides insight into which markets are most attractive (and least attractive) to buyers willing and able to invest outside their home market. These geographically flexible buyers are more likely to target markets based on the underlying strength and opportunity in those markets rather than the convenience and comfort that comes with shopping in their own backyard. Doing good by doing good Still, many of these geographically flexible buyers are emotionally connected to the market or markets in which they choose to invest. “My real passion is going back to the neighborhoods I grew up in and helping improve those areas and making money,” said McCormick, who continues to hold down a regular “day” job even as he invests. Johnson grew up in Georgia and traveled there frequently for work before retiring several years ago. Helping people buy a home they can afford — something his family was never able to do when he was growing up — is a value close to his heart. “That’s my market because you’re helping people who don’t have options, and secondly, you don’t have a lot of competition,” he said. “Those stories (of helping people) are just as important as making a profit.” I'm not rich enough to afford to lose money, but if you do the right thing, you'll have everything you need. Technology-enabled investor mobility Technology has allowed even smaller-volume investors like McCormick and Johnson to invest outside their own homes. All bank-owned REO auctions offered on platforms like Auction.com are online, and investors can buy remotely at foreclosure auctions in an increasing number of markets. The growing opportunity to bid remotely at foreclosure auctions is due to two key developments in recent years. First, changes in state laws have allowed online bidding in some states. Ohio, where McCormick invests, is one example. Second, Auction.com has continued to expand Remote Bid, a technology launched in 2020 that is now available in more than 1,000 counties across the country. “The difference between remote auction and online auction is that you don’t have to drive or sit in the courthouse,” Johnson said. “With remote auction, I can buy from anywhere.” States that attract more mobile investors During the first half of 2024, the states that attracted the largest share of out-of-state buyers on Auction.com were South Carolina (75%), Kentucky (73%), West Virginia (73%), Maryland (56%), and Pennsylvania (48%). However, the absolute share of out-of-state buyers does not reflect the full reality, as some states are inherently more conducive to out-of-state buyers when there are major metropolitan areas straddling state lines. The best measure is the change in the share of out-of-state buyers so far in 2024 compared to 2023 (see Figure 1). The states with the largest percentage increase in out-of-state buyers were South Carolina (up 114%), North Carolina (up 69%), Nevada (up 61%), Kentucky (up 51%) and New Mexico (up 40%). Other states in the top 10 for the largest increase in out-of-state buyer participation include Mississippi (up 35%), Tennessee (up 34%), Alabama (up 30%), Montana (up 20%) and Illinois (up 20%). Georgia, where Johnson invests, was No. 11 on the list with an 18% increase. States with a decreasing share of mobile investors At the other end of the spectrum are states with a declining share of out-of-state buyers, an indication that geographically flexible buyers more focused on market strength and opportunity are moving away from those states (see Figure 2). The states with the largest percentage decrease in out-of-state buyers so far in 2024 compared to 2023 were Washington (down 62%), New Jersey (down 51%), Michigan (down 48%), California (down 46%) and Idaho (down 40%).Other states in the top 10 with the largest declines in the share of out-of-state buyers were Virginia (down 40%), Indiana (down 35%), Arizona (down 35%), Ohio (down 31%) and Iowa (down 27%). The states with the lowest share of out-of-state buyers so far in 2024 (typically markets that have not been attractive to geographically flexible buyers for several years) were California (2% of out-of-state buyers so far in 2024), Washington (3%), New York (8%), New Jersey (10%), and Idaho (10%). Top 25 County Trends County-level data provides an even more precise view of which local markets are most and least attractive to geographically flexible real estate investors. At the county level, it is beneficial to look at the share of buyers who live outside the county, not out of state. Those buyers still typically represent geographically flexible investors, given that the average U.S.

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When is the best time to sell a house When is the best time to sell a house?

When is the best time to sell a house?

If you’re thinking about selling your home, you may be wondering when the best time to list it is. Timing can be critical when selling a home, as it can affect the sale price and the length of time the property spends on the market. In this article, we’ll explore the factors that influence the best time to list your home. When is the best time to sell a house? Selling a home is a big decision and timing is crucial. The best time to sell a home varies based on several factors. According to last year’s report from ATTOM Data Solutions, the peak months to sell a home were May, June and July. These months offer the highest seller premium, with thousands of dollars more compared to the slower months of October and December. The seller premium is the amount that exceeds the market value of the home. The data showed that May is the best month to sell, with homes selling for a median sales price of $208,273 and a median AVM of $185,000, resulting in a seller premium of 12.6 percent. June and July are the second and third best months to sell, respectively, with seller premiums of 10.7 percent and 10 percent. April and March follow closely behind, with seller premiums of 9.2 percent and 8.9 percent, respectively. On the other hand, October and December are the two worst months to sell, with seller premiums of 5.2 percent and 6.3 percent, respectively. January and November follow closely behind with seller premiums of 6.2 percent and 6.1 percent, respectively. It’s worth noting that the seller premium for each month is still positive, meaning sellers can still earn more than the market value of their homes during these months. However, premiums are significantly lower during the worst months to sell, so it is important for sellers to take this into account when deciding when to list their homes. Furthermore, the table reveals that the summer months of May, June, July and August see the highest number of purchase transactions, with almost 17 million transactions during this period. This underlines the fact that summer is the best time to sell a home, as there is a higher demand for housing during this period. It is also interesting to note that the seller premium for each month is relatively constant across regions, although there is some variation. For example, in the South and West, where temperatures are moderate, there is less discrepancy between peak and off-peak seasons. In contrast, in the Midwest and Northeast, there is more disparity between summer and winter. Spring and summer are the best seasons to sell a house Spring and summer are typically the best seasons to sell a home. During this time, the weather is good, especially for those who live in colder climates. Families also want to purchase their next home before school starts. Daylight saving time can also help spur buying activity. Longer days provide more exposure to properties for sale, leading to more offers. Fall and winter are the worst seasons to sell a home. Seller premiums drop in September, and in winter, home buying takes a backseat. During this time, buyers are busy with the start of the busy holiday season and the weather is not conducive to house hunting. If you’re thinking about selling your home, it’s critical to consider the buyer’s situation. Home buyers with a deadline, such as those who want to purchase a home before the school year starts, are most active in the spring and summer. If you want to sell your home during this time, you should list it before school starts. To successfully sell your home, you need to be in an optimal financial situation. You should check your credit and debt-to-income ratio to ensure that you are in a strong position to get a mortgage pre-approval. This will ensure that your efforts are not delayed. It is also crucial to compare different loans before you start looking for a home. This will give you a good idea of ​​the loans you may qualify for. In conclusion, the best time to sell a house is in late spring and early summer, in May, June, and July. During this period, the weather is suitable, and buyers are most active. However, you should take into account your region, your buyer’s situation, and your financial situation before deciding when is the best time is to sell your house. The best time to sell a house Last year, Realtor.com® crunched the numbers and identified the week of April 16-22 as the best week to list your home. During this week, home prices are expected to be $8,400 higher than a typical week and a whopping $48,000 higher than prices in early 2023. Real estate listings are also expected to receive 16.4% more views than a typical week. Additionally, homes are projected to come off the market 18% faster than an average week, making it an ideal time for sellers who want a quick sale at a higher price. Realtor.com economics team came to this conclusion after examining market performance from 2018 to 2023. They took into account competition from other sellers, the length of time a home was on the market, views per property, list prices, and the likelihood of price reductions. Even though the current housing market is tepid at best, buyers remain desperate for new listings. New listings have fallen for 35 consecutive weeks, with a 26% drop in the week ending March 4. Overall inventory also remains 50% below pre-pandemic norms. Sellers who are willing to counter this pent-up demand will likely be rewarded, as savvy buyers know not to hesitate if a good home comes on the market. However, if every seller knows the best week to list a home, an indecisive homeowner might worry that there is a glut of homes on the market, further complicating the competition. Fortunately, the market is about to enter its prime for homebuyers with families,

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Emerging trends in luxury housing by the end of 2024 Emerging trends in luxury housing by the end of 2024

Emerging trends in luxury housing by the end of 2024

Last updated on September 5, 2024 According to HOUZZ, these 6 trends are rapidly growing in popularity in the luxury home market. Organic modern spaces A neutral space, adorned with white or cream walls and natural elements, can best be described as “organic modern.” This simple decorating approach is captivating homeowners as the desire to create a serene living space increases in 2024. Dark and gloomy interiors Bold color combinations have been a major trend in 2024, and design experts don't see that trend going away anytime soon. Darker colors used to be reserved for smaller rooms like offices or studios, but now homeowners are opting to use these moody hues in main spaces. In a clear shift from the white walls that have dominated spaces for the past few years, it seems moody colors are here to stay. Wellness at home The home gym trend is only set to grow in 2024 as homeowners look to add an ever-growing list of wellness amenities to their homes. The latest in popularity are cold-water baths, indoor saunas, and home spas. Closely related to wellness, homeowners are also looking for more ways to let the sun shine into their homes by adding larger windows and skylights. Reading rooms More and more homeowners are interested in reading rooms. These cozy living areas can also be used as secondary living rooms or offices with space to store book collections. Leisure spaces It is becoming more common to create spaces for homeowners to relax and entertain at home. Spaces to relax and immerse themselves in music are increasing in demand, with homeowners looking for music rooms and rooms with space for grand pianos. As for recreational spaces within the home, bocce courts are popular, as are bowling alleys and game rooms. Japanese influence Japanese design embraces minimalism in interiors, natural elements, and harmonious living spaces. This popular decorating style has recently seen a resurgence in demand, with more and more homeowners seeking Japanese-style living rooms, dining rooms, and kitchens. Continue reading: 5 painting trends you should try Allen Tate is North Carolina’s largest real estate firm, with more than 70 offices and 1,800 real estate agents in the Charlotte, Triad, Triangle, High Country, Upstate SC, Highlands/Cashiers and Asheville/Mountain regions. Allen Tate is a partner in Howard Hanna Real Estate, the largest privately held real estate brokerage in the U.S., with 500 real estate, mortgage, insurance, title and escrow offices and 15,000 sales associates and staff in 13 states. For more information, visit www.allentate.com and www.howardhanna.com. Visited 95 times, 94 visit(s) today

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Could a 55 community be right for you Could a 55+ community be right for you?

Could a 55+ community be right for you?

You may have heard about 55+ communities and wondered if they would be a good fit for you. Here is some information that might help you make your decision. What is a community of people over 55 years old? It’s important to note that these communities are not just for people who need extra support; they can also be very dynamic. Many people choose this type of housing because they want to be surrounded by people at a similar stage in life. US News explains: “The terms ’55+ community,’ ‘active adult community,’ ‘lifestyle communities,’ and ‘planned communities’ refer to an environment that serves the needs and preferences of adults age 55 and older. These communities are designed for seniors who can care for themselves but may be looking to move to a smaller community with others their own age and with similar interests..” Why this type of housing is worth considering If this sounds like something you might be interested in, here’s something to consider. You may find that you have an ever-growing list of options if you look into this type of community. According to 55places.com the number of listings designed for home buyers in this age group has increased by more than 50% compared to last year. It could make your move a lot less stressful because it’s easier to find something that’s specifically designed to fit your needs. Other community benefits for people over 55 years of age In addition to that, there are other benefits in regard to this type of housing. An article by 55places.com highlights just a few: Low maintenance housing: Tired of mowing the lawn or pulling weeds? Many of these communities take care of this for you. So you can spend more time doing fun things and less time on maintenance. On-site services: Some feature lifestyle amenities such as a clubhouse, fitness center, and more, making it easy to stay active. Additionally, others offer media rooms, libraries, spas, arts and crafts studios, and more. Like-minded neighbors: Additionally, these types of homes often offer clubs, outings, meetups, and more to foster a close-knit community. Accessible floor plans: Not to mention, many have first-floor living options, ample storage spaces, and modern floor plans so you can have a home that’s tailored to this stage of your life. If this sounds appealing to you, let’s talk about what’s available in our area and the unique amenities of each community. A 55+ home may be exactly what you’ve been looking for.

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How to set the perfect price for your Airbnb cleaning How to set the perfect price for your Airbnb cleaning fees

How to set the perfect price for your Airbnb cleaning fees

Are you hosting guests in a pristine vacation rental and finding that your revenue is going south? Setting the price for Airbnb cleaning fees may seem like a tedious task, but it’s the secret ingredient that can boost your business and increase your profits. In this guide, we’ll explore how to strike the perfect balance between setting attractive prices and providing quality service to keep your guests and your wallet satisfied. What are Airbnb cleaning fees? An Airbnb cleaning fee refers to the additional cost that guests pay to the host or cleaning service to clean and prepare the accommodation before your arrival. Unlike a security deposit, which is refundable, the cleaning fee is a fixed charge that remains with the host regardless of how clean the guests leave the property. Typically, cleaning fees include a variety of tasks, such as cleaning obvious areas like kitchens and bathrooms, as well as less glamorous tasks like doing laundry or scrubbing toilets. Many Airbnb hosts choose to hire a professional cleaning company. Working with professional cleaners ensures that the job is done right and that the high cleaning standards demanded by the short-term rental industry are consistently met. Generally, the formula is your cleaning fee divided by the number of nights your guests stay. For example, if your cleaning fee is $100 and a guest stays for five nights, your nightly rate adds $20 to their reservation. Setting a cleaning fee on Airbnb requires careful consideration of competitive pricing standards and the nightly rate. Striking the right balance helps your vacation rental property remain attractive to potential guests while also adequately compensating you or your cleaning staff for their efforts. Factors to consider when calculating your cleaning fee Hosts and property managers need to think critically when setting a cleaning fee. With increasing competition from hotel rooms that do not charge a cleaning fee, it is essential to be transparent and fair with pricing. Here are some key points to keep in mind when determining your cleaning fee: Make sure you don’t incur losses: Every time a guest checks out, you need to thoroughly clean your property. This requires a significant amount of time, effort, and resources. A well-calculated cleaning fee effectively offsets these operational costs. Be competitive: Vacation rental owners should be aware of how much their competitors charge for cleaning services. Setting a rate that is too high can deter potential guests from booking their property, while setting a rate that is too low could mean a loss of revenue. Please consider the size and type of your property: The amount of work required to clean a large vacation home with multiple bedrooms is very different from that of a small studio apartment. It is important to take the size and type of property into account when setting a cleaning fee. Please note additional services: Some hosts may choose to offer additional services, such as daily cleaning or laundry service, for an additional fee. If you offer this service, be sure to factor it into the total cleaning fee. Consider seasonal variations: Depending on the location of your vacation rental property, you may experience different levels of demand throughout the year. To remain competitive and attract guests, it’s important to adjust your cleaning fee accordingly during peak and off-peak seasons. Evaluate the frequency of your reservations: Properties with back-to-back bookings may require faster cleaning times, which could increase costs if you hire additional cleaning staff. On the other hand, sporadic bookings may allow for more flexible cleaning schedules, which affects your fee structure differently. Additionally, it’s also important to periodically review and adjust your cleaning fee as needed. As property and operating costs change over time, so should your cleaning fee. By setting a fair and reasonable cleaning fee, you can create a positive experience for both yourself and your guests who are looking for a pleasant stay at a reasonable price. Average cleaning fee Understanding the average standard cleaning rate can help you set a competitive rate that reflects your services. Below is a list of rates based on property type size: Private room, studio or one bedroom apartment: $40 – $80 Two bedroom apartment: $90 – $155 Three bedroom house: $120 – $200 Four or more bedrooms: $155 – $200+ Luxury Properties: $300 – $500+ These figures serve as a guide and may vary depending on local market conditions, the level of cleaning detail required, and additional services offered. Always consider local competition and demand when determining whether to set lower or higher cleaning rates. Tips for managing your cleaning fee When implementing and managing your cleaning fee, it’s critical to understand the aspects that most impact its effectiveness. A well-structured cleaning ensures fairness for your guests, but also provides you with the resources needed to maintain a high level of cleanliness. Here are some tips to help you manage this aspect of your vacation rental successfully: Be transparent: Clearly communicate your cleaning fee from the beginning in your listing. This transparency helps set expectations and prevents misunderstandings later in the booking process. Comparison with the competition: Research and compare cleaning rates for similar properties in your area. Rates that are too high or too low can deter potential guests, so you should try to align your rates with the market to remain competitive. Standardize your cleaning protocol: Develop a standard cleaning procedure for your staff. This will ensure consistency in service and allow for efficient time management, which can positively impact your cleaning costs. Use feedback: Periodically request guest feedback on cleanliness and the perceived value of the cleaning fee. Use this information to adjust your practices and pricing as needed. Consider off-season discounts:During off-peak seasons, consider offering discounts on your cleaning fee to attract more guests. This can improve occupancy rates and mitigate off-peak periods. Promote additional services:If you offer additional cleaning services, such as dry cleaning or eco-friendly options, highlight them in your listing. Guests may be willing to pay a higher cleaning fee

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The best paint colors to make your front door stand The best paint colors to make your front door stand out

The best paint colors to make your front door stand out

Last updated on August 21, 2024 Painting your front door with a colorful coat of paint is a fun weekend DIY project and an easy way to modernize your curb appeal. Bring your home's personality to the front porch so your guests feel at home before they even step inside. Go green Green offers subtle hints of spring and foliage and is the color of good luck. Green is the perfect color to experiment with, both neutral and vibrant shades. A pale, muted green creates a refined look, while a vibrant green is more cheerful and bold. Try Benjamin Moore's Bunker Hill Green. Cheerful yellow Whether you opt for a pale cream shade or a more vibrant and bright hue, yellow is the best way to make a bright first impression. Add a bit of honey charm with SW 6903 Cheerful. Sealing wax If you're looking for a bolder shade of red, opt for a deep red, like tulips, which is sure to be the cherry on top of your porch. Try Benjamin Moore Caliente. Bold black Black is a classic and timeless choice for an entry door. Try Tricorn Black by Sherwin Williams. Beautiful blue You can't go wrong with a beautiful blue door. For a similar look, try Smoky Azurite by Sherwin Williams. Timeless grey If you want a timeless color for your front door, but want something other than black, why not try charcoal gray? Try Benjamin Moore Amherst Gray. Continue reading: All about the paint color trends of 2024 Visited 8,641 times, 24 visits today

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Real Estate Market Predictions for 2024 Will the Real Estate Real Estate Market Predictions for 2024: Will the Real Estate Market Crash?

Real Estate Market Predictions for 2024: Will the Real Estate Market Crash?

The real estate market today is a topic of much debate among experts. While there is no consensus on whether the historically tight housing market eases or not, it is clear that the market has cooled significantly from its previous highs. The real estate market today Is currently a seller’s market. Home prices are rising, inventory is low, and mortgage rates are increasing. This makes it a difficult time to buy a home, but there are still opportunities for buyers who are prepared. In this post, we will discuss whether the The real estate market is slowing down or going to collapse. Is the real estate market slowing down or going to collapse? Despite initial concerns, of a real estate market crash, due to the pandemic, the market has remained stable. However, there are key factors to consider, such as rising home prices and potential declines in home sales due to imbalances between supply and demand. Fears of a recession have contributed to the market cooling since its peak earlier this year. However, there are other factors that can influence the pace of the market and the preference of both buyers and sellers. The market is moving away from being heavily skewed towards sellers and is moving towards more balanced conditions. Buyers continue to show interest and there is still some level of competition, particularly for attractively priced homes.

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How to prepare your home for the return to school How to prepare your home for the return to school

How to prepare your home for the return to school

Last updated on August 15, 2024 Back-to-school season doesn't have to be chaotic! With a little preparation, you can set the stage for a smooth transition into the new school year. Use these tips to help you prepare your home for back-to-school: Studies show that we tend to be more productive and less stressed when our work has its own space. This improves our concentration and helps us maintain a routine. So, separate work from leisure! Give your children their own space to study and do their homework. Home offices are fantastic, but if you have limited space, designate a corner of the bedroom, living room, or kitchen with a desk and chair. Fill the area with essential supplies like pens, pencils, and other stationery. Adding a laptop stand and a place to organize charging cords can improve the functionality of the space. You can even use chalkboard paint on the wall for your kids to write and erase notes and math problems. Clean the refrigerator and pantry. Make room for pre-made school lunches and after-school snacks! Create a small grab-and-go section in your fridge or pantry for busy mornings. Leave room for healthy, pre-made meals to ensure your kids have nutritious options on hand. You can even add a whiteboard to the fridge to jot down notes for your grocery list or lunch and dinner schedule. Organize school supplies and backpacks Avoid chaotic mornings by organizing school supplies and backpacks ahead of time. Utilize the hallway with labeled bins and designated spots for school supplies, such as backpacks and extracurricular activity equipment/materials that could easily be forgotten. You can install backpack hooks by the door to have bags ready to grab on the way out. Keeping everything organized by the door will reduce the risk of forgotten items! Organizing bedrooms and closets Does your child's room look like it's been through a tornado? Do you have clothes strewn across the floor and unread books piled up on the dresser? It's time to get their rooms in order. An effective way to decide what's worth keeping is to organize items into a “keep,” “donate,” or “throw away” system using different labeled bins. You can then organize the items into your “keep” pile and toss the rest. If your kids love to read, add a bookshelf and a pouf in a corner of the room to create a cozy reading nook. This will keep your readers happy and their books will be where they belong. Next, tackle your closet. Having your school uniforms or outfits on hand will make mornings much smoother. Get rid of clothes you no longer need to free up space in your closet. Sort clothes by type, season, or day of the week to make outfit selection quick and easy. Add a schedule It can be difficult to establish a back-to-school routine after a long summer of fun and games. If you have multiple kids going back to school, it's hard to remember who has what extracurricular activity on what day, what science fair project is due, and who's in charge of chores. Adding a dry-erase board to your refrigerator with a weekly or monthly schedule is beneficial to keep the whole family informed! Set up a charging station for devices Don't send your child to school with a dead laptop! It's important to have a designated area for charging school-related devices such as tablets, laptops, and phones. Organize cords to keep the area tidy, and make sure all devices are plugged in so they're ready for the school day. Add an achievement wall Let your kids know you're proud of them! Recognizing their accomplishments will boost their self-esteem and motivate them to keep doing well. Designate a space on the refrigerator, a corkboard, or better yet, an entire wall to display your kids' accomplishments. You can hang awards, stellar school projects, and artwork to make your kids feel confident! Pencils, pens, markers, and glue sticks are likely to run out or get lost as the school year progresses. Take care of that problem now by creating a shelf to replenish supplies! Designate a shelf in your home that holds a large supply of supplies for when your family needs them. You can add drawers to hold different colored construction paper and a rotating organizer for pencils, pens, and craft supplies. When that blue marker goes missing, you'll be set! A successful, stress-free school year starts at home. If you take the time to organize, declutter, and create functional spaces, you're setting your family up for success! Continue reading: 10 DIY ideas to update your home instantly Visited 115 times, 4 visits today

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