Whitney Minnich Real Estate and Community Updates

Why You Should Focus on Your Listing’s Home Office March 4, 2019 If your listing has a dedicated home office, consider playing it up in your marketing. With more Americans telecommuting for work, the need for a home office is growing, according to a new Forbes.com report. Nearly 3 percent of the U.S. workforce—or about 4 million workers—now telecommutes for at least half of their work time. Between 2005 and 2015, regular remote work surged 115 percent, Forbes.com notes.  Builder Magazine has called the dedicated home office one of buyers’ favorite choices among bonus rooms. “More people are working remotely, and buyers want a dedicated work space,” says Christine Drimalla, GRI, SRES, a broker with Baird & Warner in Winnetka, Ill. “They want to be in sunlit spaces with plenty of natural light, where they can access the rest of their home. I hear from buyers all the time that they want an office on the main floor so they can quickly go to the front door or...

2019 Economic Outlook: Residential Growth of a Quiet Sort In most areas, sales and price appreciation will remain steady. January - February   2019   by   Robert Freedman SharJanuary - Februaryby   Robert Freedman Source: NAR Research Despite rising interest rates and weakening buyer enthusiasm, continuing economic gains mean 2019 will look much like 2018 regarding the strength of the residential market, NAR Chief Economist Lawrence Yun predicts. “It’s going to be more of the same, in terms of growth,” he says. A wild card is the growing threat of recession fueled by a trade war with China and other countries, but it’s too soon to see how that plays out. “Stock market volatility caused by talk over a trade war is not good,” Yun says. “But economic fundamentals remain strong and should stay that way if normal trade patterns continue.” Home sales, combined existing and new, are expected to increase a little les...

How Much Do Buyers Want Green vs. Non-Green Features? February 25, 2019   Melissa Dittmann Tracey The way you market green home features has an effect on how house hunters perceive them and whether they’ll pay more for an eco-friendly property, according to new research by the National Association of Home Builders released last week during the 2019 International Builders’ Show in Las Vegas. “A green home marketed by its energy savings and as having good air quality are the two things that seem to resonate the most with home buyers,” said Rose Quint, the NAHB’s assistant vice president for survey research. Quint detailed findings on green home features from the NAHB’s 2019 edition of “What Home Buyers Really Want,” based on a nationwide survey of 4,000 recent home buyers or those aspiring to own within the next three years. The findings show that buyers favor green over non-green options when given the choice, Quint said. The survey provided the following break...

Reaching the affordability ceiling By  Elon Glucklich Posted Jan 27, 2019 at 5:01 AM Updated Jan 27, 2019 at 2:24 PM No end in sight for the cost battle entry-level home buyers face in Eugene-Springfield While sales have been swift in a Spring Capital Group subdivision project — on one of the largest developable tracts of lane in or immediately near the Eugene-Springfield urban area — it doesn’t show any signs of easing the growing affordability crunch facing local entry-level home buyers. Since getting its subdivision plat recorded, the local developer has finalized contracts to sell 122 of its 192 home lots at the far northern edge of the city limits since the lots became available in early December, firm principal Tom Connor Jr. said. Seven miles south, just outside Eugene’s southern boundary, prominent Creswell developers Norman and Melvin McDougal have been busy clearcutting and building a network of gravel roads t...

Wallpaper: The Stay or Go Dilemma February 13, 2019 While wallpaper is once again an attractive decorating trend for homeowners looking for textures and accents, it's not for everyone. Designer Jessica Lagrange of Jessica Lagrange Interiors in Chicago works primarily with luxury clients who love wallpaper. Here’s what she advises about the “stay or strip” decision before listing a home. 1. The clash test.  Some wall coverings are neutral, such as those with small patterns, intriguing textures in soft hues, or subtle metallic finishes. These are assets if they’re chosen in conservative or traditional colors, Lagrange says. The litmus test is how severely the print clashes with a range of furnishings and artworks. 2. An education campaign.  There are wallpaper treatments that are extraordinary, such as some scenic wallpapers that cost thousands of dollars. Listing agents should have a strategy in place to educate buyers and other agents who aren’t fam...

Report: Buyers Far Less Likely to Face Bidding Wars February 12, 2019 Home shoppers will likely face less competition in their offers, and that may allow them more time during their house hunt. A new report from Redfin shows that only 13 percent of offers written by agents on behalf of their customers faced a bidding war last month—down significantly from 53 percent a year ago. “Buyers have heard the market has slowed, so now they’re trying to get all of their ‘wants,’ not just their ‘needs,’ ” says Kalena Masching, a Redfin real estate pro in Palo Alto, Calif. “They’re waiting until they find a home they can check more boxes—for instance, three bedrooms instead of two or a higher rated school. In general, they are being more judicious as they think through their purchase. Meanwhile, many sellers have not yet recognized that the market has shifted.” The number of homes for sale has been slightly increasing in several markets, which has left fewer home buyers co...

Instant-sale, ‘buy your house for cash’ operations are multiplying But be careful, some of these offers may not be from who you think By Mark Huffman  02/20/2019  You’ve probably seen the signs. They’re usually hand-lettered and nailed to a street sign poles and declare “We’ll Buy Your House For Cash,” followed by a telephone number. These “instant sale” operations are nothing new, but they have proliferated since the housing crash, when investors began buying up foreclosures and flipping them for hefty profits, spawning popular cable TV shows in the process. Now that there are fewer foreclosures, these instant sale investors have to look harder for properties to buy and have become more aggressive in their recruitment efforts. They often target older homeowners who have substantial equity in their homes but are unable to maintain them any longer and want to move to an assisted-living facility. They also target homeowners facing foreclosure. Lawrence Yun, c...

The 10 Most Common Defects Found in Home Inspections February 19, 2019 Home inspections have been uncovering much-needed property repairs. More than 1 million repairs needed more than $11,000 in costs, according to a February review of 50,000 home inspection reports by Repair Pricer, a home repair estimating resource. Nearly 55 percent of homes analyzed across the country had doors that needed adjusting, which could be an indicator of foundation issues, the report showed. More than half—or 54 percent—of the homes lacked exterior caulking and sealant, which could leave the home susceptible to extensive water damage. Furthermore, about 48 percent of homes lacked GFCI protection—this could pose a dangerous electrocution risk to homeowners around water-prone areas like the kitchen or bathroom. “Home buyers and [real estate professionals] across the country should leverage these insights to better position themselves in the stressful negot...

Reasons Your Listing Is Still for Sale These four tips will provide meaningful sales meeting fodder to help agents understand why a property is taking longer than expected to sell—and what they can do about it. January 30, 2019   by   Kaycee Miller Even though existing-home sales increased in October and November, there was a decrease of 6.4 percent in December. Now,  experts across the country  are predicting a continued shift towards a buyer’s market in the months ahead. But that doesn’t your listed properties shouldn’t be getting attention from the right potential buyers. If several of your company’s listings are sitting idle, it might be time to reconsider some sales strategies. We as real estate professionals can’t control the nation’s housing market, but we can take a step back and assess why a listing might not be selling. At your next sales meeting, share these common reasons a property might be taking longer than expected to sell a...

Don’t Underestimate the Importance of the Garage to Buyers February 15, 2019 Luxuries like pools and lavish living spaces may not be as enticing to home buyers as a garage, finds a new poll by Zolo Realty, a Canadian online real estate marketplace. Zolo Realty surveyed more than 1,800 North American respondents to discover buyer behavior and desires. Male and female home buyers gave the highest marks to properties with a garage; an en suite, main-floor bathroom; or a newer furnace or A/C unit. Fifty-one percent of women and 41 percent of men ranked a garage a must-have when buying a home. © Zolo “Buyers aren’t foolish,” says Mustafa Abbasi, president of Zolo Realty. “Updating a kitchen and removing walls is a lot of work, but these updates are not as hard or as costly as trying to carve out a bathroom for a master bedroom or building a garage from scratch.” The ideal home to both men and women surveyed was: A 3-bedroom, 2-bathroom home with a m...