Desert Luxury Realty
Thank you for visiting my blog. When you choose Mary Williams, as your real estate agent, you are working with a team of seasoned professionals who cater to your every real estate need. Buying or Selling your home does not need to be full of hassels or needless pressure. Take it easy and enjoy the luxury of the desert. I look forward to assisting you with your search or sell of your home. Contact me today!
Wednesday, October 29, 2014
“Despite recent news reports of young adults moving back home to live with Mom and Dad, millennials haven’t completely written off homebuying and still aspire to owning a home,” said C.A.R. President Kevin Brown. “What’s encouraging is that while many saw their parents or friends struggle through the housing crisis, the majority haven’t changed their attitude toward homeownership. Young buyers may have to delay their home purchase, but they eventually hope to own their own home.” CAR.org
The 2014 California Association of REALTORS® Millennials Survey looked at those born between 1980 and 1996, or 18 to 34 year olds, who currently live in California. The Survey focused on renters and home owners and found that one in five are homeowners, 41% are renters and 36% live with their parents. When looking specifically at 18-26 year olds, the Survey revealed that nearly half (49%) live with their parents.
Demographically, they are very diverse—62% are minorities. This generation is known for delaying marriage and having children; the majority are not married and nearly half do not have children. They are, however, well educated; 46% of 27 to 34 year olds have a college degree and 42% of 18 to 26 year olds are currently enrolled in a college.
Despite many having a higher education, their earnings and employment have some catching up to do. Only about half of echo boomers are currently employed, and only one-third have a full time job; 19% have a part time job, 24% are students and 20% are unemployed. This bleak employment situation translates to a median annual income of $35,000. There is a silver lining for earnings; older millennials (those between 27 and 34 years old) have a median annual household income of $50,000, compared to $30,000 for their younger cohort (18 to 26 year olds).
Approximately two out of five millennials are renters, paying a median monthly rent of $1,075. Affordable rent is the most important reason for electing to live in their current residence and also why the majority rent instead of buying—67% said they rent because they cannot afford to buy.
While they may not be able to afford to buy a home now, most Gen Y renters feel that homeownership is important because it gives them the freedom to do what they want with the property, and they expect to buy a property within the next five years.
Echo boomers in California prefer single family homes, as two out of three indicated they plan to purchase a single family home, compared to only 12% who plan to purchase a townhome or condominium. Contrary to popular belief, the ideal home for many would be on a big lot with lots of land (42%) in the suburbs (41%). Fewer than one in three indicated an urban location preference for their ideal home.
While they aspire towards home ownership, the majority are uncertain or doubtful they could obtain a mortgage now. Millennials are realistic about the responsibility that comes with the territory. Affordable home price, problems with credit/mortgages/taxes and maintenance are some of their biggest concerns about home ownership. About half of Gen Y renters have student debt, which is below $20,000 for many, so they do not feel it is preventing them from qualifying for a mortgage. However, the majority have other debt, such as credit cards and auto loans, which would make it difficult for them to buy a home.
Additional findings from C.A.R.’s “2014 Millennial Survey” include:
- Of the millennial renters, the majority (67%) rent because they can’t afford to purchase a home.
- Like any other home buying segments, millennials are concerned about high home prices and affordability, with nearly half (45%) citing those as their biggest concern about homeownership.
- One in two millennial renters has student debt, but most don’t feel it is preventing them from qualifying for a mortgage. Additionally, more than four in 10 (43%) don’t have debt that would prevent them from buying a home.
- Even though many millennials saw their parents struggle through the recession, more than half (59%) said the housing crisis didn’t affect their attitude toward homeownership being a good investment.
- Despite the stereotypes that these young adults mostly seek urban living with a high walkability factor, millennials said they prefer single-family homes on large lots in the suburbs, with two out of three (67%) indicating they plan to purchase a single-family detached home, while only 12% said they plan to purchase a townhome or condominium.
- While they aspire toward homeownership, the majority was uncertain or doubtful they could obtain a mortgage now, with 45% saying they were not sure, and 33% saying they would not be able to obtain a mortgage now.
What does this mean for you? If this generation starts purchasing homes, homebuying will trickle up. More home buyers will be able to enter the market and more sellers will be able to sell their homes.
I can discuss this with you more in depth – especially with “Season” knocking at our door. More buyers and sellers will be coming to the Desert over the next few months making this the best time to buy or sell your home. Call me today and let me show you why I’m your best choice to work with in the Desert.
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**above information is from the California Association of REALTORS(R)
Posted by email@example.com at 12:32 PM
Wednesday, October 22, 2014
It May Not Be a Good Investment
Know that when you make major changes to a house, you are changing the property’s value. A good rule of thumb is to keep improvements consistent with other homes in your neighborhood. An upscale bath with a walk-in shower won’t net you a good return if you’re the only one in your neighborhood who has one.
Remember that if the improvements do raise your home’s value, you’ll be subject to higher taxes. In other words, your initial investment isn’t the only thing you’ll be paying out. Heating and cooling costs can also rise considerably, depending on the size of your addition and the materials used.
Count the Cost
In addition to the above mentioned concerns, you’ll need to budget for the actual work itself. How much can you do yourself, and where will you need to hire experts? Generally speaking, additions cost anywhere from $100 per foot at the low end to $200 per foot or more at the high end.
It also takes time to accomplish the work that needs to be done. Will your home be usable while you’re waiting for the contractor to finish? How will weather or material delays figure in? If you need professionals, will they work on a flat bid basis or will they be paid hourly? Get answers to these questions during the planning stage itself.
Form and Function Should Be Complimentary
There’s nothing like an ugly add-on to detract from the beauty of your home. At the very least, invest in a design software before beginning your project. Consulting an architect or designer is recommended.
Keep additions proportionate to the original building, using the same details, colors, and materials to promote continuity. Also, look at the historical use of additions in homes similar to yours. This will help you decide the best place for your remodel. For instance, a covered passage from the house to the barn may be appropriate in chilly New England, but it would look completely incongruous in sunny California.
Stay in the Zone
Be sure to check local ordinances before beginning your project. Zoning restrictions can limit a number of things, including property margins that dictate how much space must be left vacant between the building and the edge of your land. Other considerations are nearby wetlands or wildlife habitats, and the amount of impermeable materials used in the entire structure.
Adding on to your home can be a great way to increase the value of your property, gain extra space, or provide an accessible area to a disabled loved one. Do your homework before the first spade of earth is turned. Planning in the early stages avoids costly surprises and ensures your work will remain true to the aesthetic of your home.
Follow me on FACEBOOK!!**Article provided by Wingwire
Posted by firstname.lastname@example.org at 2:14 PM
Tuesday, October 21, 2014
Friday, October 17, 2014
We have been discussing renovation and staging recently and I’m sure you’ve been wondering how long it can take for some projects. It does depend on what we run into once the project starts like unforeseen repairs, product delays or weather. However, there are a few projects that are a bit easier to project than others … here are just a few:
A BathroomWhile bathrooms do take less time and money than a kitchen, you can still plan 2 to 3 months from start to finish. Generally bathrooms do not need extensive electrical or ventilation additions, but plumbing can take quite a bit of time, especially if you’re replacing a simple tub with a ceramic walk-in shower with multiple shower heads. Planning is essential when planning a bathroom and it is also essential you work with a seasoned professional to bring your plans to life.
Room AdditionIf the contractor builds the additional outside room and doesn’t open the wall until after it’s almost completed, it won’t seem long at all. However, it will take about one to two months.
Not sure if you should remodel, refresh or stage your home?
Give me a call and together we can go over your options. A little or a lot, I will be able to walk you through the process.
If you’re coming back to the desert soon, why not start refreshing your Desert home now, so it’s all ready for your arrival!!
Posted by email@example.com at 10:27 AM
Thursday, October 9, 2014
The official line up for the 9th annual
Stagecoach Country Music Festival
taking place April 24-26, 2015 will include:
THE BAND PERRY
MERLE HAGGARD and MANY MORE!
THE BAND PERRY
MERLE HAGGARD and MANY MORE!
PASSES GO ON SALE TuesdayOctober 14th @ 10:00 am (PDT).
You can choose CORRAL STANDING PIT, CORRAL RESERVED SEATING or GA (general admission). All passes have ALL IN PRICING. What you see is what you pay, including all fees and domestic shipping. Pay in full or choose 50% now + 50% in December.
Click a link below to stay updated!!
OTHER FESTIVAL ATTRACTIONS
Kids can look forward to having all kinds of fun in the Half Pint Hootenanny, while all you grown-ups can dance it up in the Honky-Tonk Dance Hall. We'll have our delicious annual BBQ competition returning as well.
**All information above is from The Stagecoach Festival.
Posted by firstname.lastname@example.org at 3:31 PM
Thursday, October 2, 2014
Many people start the home buying process without a good idea of what to expect or what purchasing a home entails. Family members can sometimes offer sound advice. You can also find pertinent information online. But what if there was a guide who could assist you through every step of the process?
Why an Agent Is BeneficialReal estate agents are specially trained to walk clients through buying a home. They often live in or around the area where their offices are located, and are familiar with local attractions and amenities. Agents also have established relationships with area bankers, lenders and city officials. Your agent puts his or her experience to work for you by providing you the expertise needed to help you find the right home at the right price.
Types of Agents
There are a few different kinds of real estate agents.
- A real estate broker can be a person, firm or corporation. A broker is licensed to sell property for a fee or commission. Each agency or office is owned by a broker.
- Real estate salespersons, or agents, can’t act as a broker, but they are the ones you’ll work with the most. Agents show homes and draw up contracts for the broker.
- Buyer’s agents and seller’s agents work on behalf of the buyer and seller, respectively.
Qualities to Look for in an AgentSelecting an agent to represent you warrants careful consideration. Look for these attributes in your chosen agent.
- Ethical - Any agent who represents you should be willing to disclose any problems your potential purchase may have, as well as recuse themselves in the event of a conflict of interest.
- Competent - Your agent should have done the necessary legwork before you are ever shown a home; pre-inspecting properties, choosing homes that fit your price range and planning carefully are all good signs.
- Committed - Real estate agents who make a full-time living from their job are more likely to be invested in a satisfactory transaction than part-time agents.
- Professional - Your agent should have a minimum of three years of experience in residential real estate sales.
- Community-oriented - The agent you choose will have a much better idea of what the neighborhood or city is like if he or she is a local resident.
Bigger SelectionIn addition to the community ties and business relationships that your agent puts to work on your behalf, each representative also has access to a database of property listings. The Multiple Listing Service (MLS) contains information on most if not all of the properties for sale in a community, complete with price, pictures, and any other relevant data. Selections can be narrowed in several ways, from the number of bedrooms or bathrooms to price or square footage. By choosing the right real estate agent to represent your new purchase, you’ll have access to someone who can answer your questions and leverage their business relationships and experience on your behalf. The right agent can help you find the dream home that fits your budget and your lifestyle. **Guest blog article provided by Wingwire.
Posted by email@example.com at 5:47 PM