The shift to working from home opens up possibilities, especially for wealthier people.
via https://www.huffpost.com/entry/rich-torontonians-eyeing-an-exodus-from-city-after-pandemic-agency_n_5ecfda2ec5b64f77077218fa
0 Comments
Former NFL head coach John Fox is taking another pass at selling his Charlotte, NC, mansion. Listed for $7 million back in 2015, the home is now back on the market for $5.95 million. The massive custom estate features six bedrooms and 6.5 bathrooms spread across 14,866 square feet of living space. It’s just under an acre, on the 14th fairway of the exclusive Quail Hollow Club. The interior has large rooms loaded with architectural detail and gives off a grand vibe. Its unique features include a large staircase with custom ironwork railings, as well as marble columns, arched ceilings, and inlaid marble floors. Built in 2007, the mansion was designed with entertaining in mind, both inside and out. The huge kitchen flows into the casual dining and open living area, which includes a big bar, and all the rooms at the back of the home open to the spectacular outdoor area. Both a covered loggia and large covered patio look onto the pool. The patio, which serves as an outdoor living room, comes complete with a barbecue area, television, and fireplace. The main floor is where you’ll find the massive master suite, which features dual closets, dual bathroom areas, and dressing room space. The upper level includes five additional bedrooms, each complete with a private bathroom. Other luxe rooms throughout the spacious residence include an exercise room, plush home theater, and gorgeous wine cellar. Fox, 65, lived in this mansion during his stint as head coach of the Carolina Panthers. He coached the Panthers from 2002 to 2010, and led the team to a Super Bowl appearance in his second season with the club. He went on to coach the Denver Broncos for four seasons, and then spent three seasons as the boss of the Chicago Bears. After taking the Bears job, Fox purchased a home in Lake Forest, IL, for $3.2 million, but was sacked on the sale four years later—he sold it for $2.88 million. Fox and his wife, Robin, continue to own a home in Marco Island, FL. They purchased their Sunshine State home in 2004 for $2.9 million. It features a sparkling negative-edge pool and spa that sits on Roberts Bay. Victoria Mitchener with Dickens Mitchener & Associates has the listing. The post Former NFL Coach John Fox Takes Another Pass at Selling Charlotte Mansion appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/celebrity-real-estate/john-fox-takes-another-pass-at-selling-charlotte-mansion/ Those hoping the coronavirus-fueled recession will bring another round of bargain-basement real estate prices are likely out of luck. Even with the pandemic raging, a battered economy, and the highest unemployment since the Great Depression, median home list prices still jumped up 3.1% year over year last week, according to the most recent realtor.com® data of the seven days ending May 23. That’s about double the 1.5% annual rise from the previous week ending May 16. Last week, home prices increased in about three-quarters, 77, of the largest U.S. metropolitan areas. “There are still buyers in the market,” says realtor.com® Senior Economist George Ratiu. “But given the very limited number of properties available, buyers are willing to pay more.” Just before the pandemic plunged the U.S. into catastrophe mode, home prices were increasing about 4.4% annually in the first two weeks of March. Prices generally heat up in the late spring and into summer, but this time it’s likely due to modestly priced homes fetching higher prices and more expensive properties sitting on the market longer. “The mix of homes that are on the market now is a little bit different,” says Ratiu. “What’s really selling at a premium are lower-priced homes. The higher-priced homes are sitting on the market longer.” The number of listings was down 22% year over year in the week ending May 23. That’s because many sellers pulled their properties off the market or held off on listing as they didn’t want strangers walking through their homes in the middle of a public health disaster. When there are more buyers competing for a very limited supply of properties, prices tend to go up. Meanwhile, the number of new listings fell about 20% annually. While that sounds bad—and it is—it’s much better than the 28% drop the week prior. The improvement is likely due to sellers becoming a tad more comfortable listing their properties as more cities and states loosen restrictions and open up. While more supply could help prices to eventually soften, record-low mortgage interest rates have given them a little more room to rise. They can help alleviate some of the financial pressure of those higher prices as they can help to reduce the size of homeowners’ monthly housing payments. Rates fell to 3.08% on 30-year fixed-rate loans, according to Mortgage News Daily. “If you have to move, these really low mortgage rates are really an incentive,” says Ratiu. “They can even offset a slightly higher price.” The one bit of good news for buyers is they may have more time to shop around. (Sorry, sellers.) The number of days that homes sat on the market was 16 fewer than in the same week a year ago. In the first two weeks of March, homes were selling four days faster than the previous year. “Homes that have been sitting on the market longer are good opportunities for negotiation,” says Ratiu. “If buyers are not in a hurry, being patient is likely to pay off because we do expect more homes to go up for sale in the next few months.” The post Forget About Recessionary Real Estate Bargains: Home Prices Are Still Rising appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/real-estate-news/prices-rise-in-may-coronavirus/ Homes crafted from shipping containers are often found in urban or suburban settings. They’re often designed to fit a small lot and appeal to outside-the-box buyers who desire a short walk to cafés and shops. That’s what makes this shipping container home in Carbondale, CO, so different. It’s set on 35 acres of land in the Roaring Fork Valley and has postcard-perfect views of majestic mountains from every room. For a buyer in search of a remote getaway with a creative twist, the home is on the market for $1.65 million. “The owner’s an inventor,” says listing agent Bryan Cournoyer of Douglas Elliman. The dwelling was completed last year, and Cournoyer explains the motivation behind its unique design. “His idea was to live off the grid with a very small footprint. At first, it was going to be his, but as he got into it, he wanted it to be a project.” The two-bedroom, two-bathroom home spans 1,351 square feet and includes a furnished bunker 25 feet underground. It’s an ideal spot for preppers to use a survival shelter and is accessible through a concealed trapdoor in the living room. If the buyer is not as concerned about societal collapse, the space could also be used for a wine cellar. Fifty feet long, it’s outfitted with a Swiss-made air-exchange system, underfloor storage, and a leach field for running water. The simple black-and-white palette will appeal to modernists and those in search of clean lines and a minimalist lifestyle. Incorporating the vistas was also top of mind for the home’s builder. “The views are spectacular,” says Cournoyer. “There’s a front-row view of Mount Sopris. You can see the sunrise and the sunset without any interference.” Floor-to-ceiling Windsor windows highlight the view, and the corrugated steel walls and wood flooring (which are stained a darker shade) cause sunlight to bounce. This helps to make the floor plan seem much larger. Locally sourced wood was used for the exterior. Full-house radiant heat keeps things toasty or cool—depending on the season. Because it’s a shipping container with corrugated-steel walls, hanging light fixtures will be a breeze, thanks to a moving-track system the owner designed. “All of the lighting fixtures are magnetic, so you can place them wherever you want,” says Cournoyer. The agent also told us that the owner used a 3D printer to create picture hangers to hold art of various weights. On the second floor, the master bedroom features two decks. Each of the two bathrooms has luxury finishes, including Brazilian slate walls and floors, brushed-steel Moen hardware, floating custom cabinetry, European toilets, and floor-to-ceiling glass showers. A seasoned home chef or frequent entertainer will fall in love with the kitchen’s layout. It opens to the living room and features double-sided cabinetry, high-end appliances, and a butcher-block island with a stainless-steel, farmhouse-style sink and Moen hardware. There’s room for an art studio, den, or additional bedroom on the basement level. The land is irrigated—which could mean business opportunities for the buyer. “A lot of people who have looked into it are interested in doing a yoga retreat or growing food organically,” says Cournoyer. “It’s a campus for creation.” In fact, building a second home on the property has already been approved—with drawings that can be provided by the seller. The seller has also configured the shipping containers so that another one could be added to the first floor of the home for additional living space. What’s life like in tiny Carbondale (whose population is around 6,900)? Compared to other ski towns west of Denver, such as Vail and Aspen, “It’s more for that easy living,” says Cournoyer. “Carbondale is its own little niche. Locals are very environmentally conscious, down to the way they govern the town. They don’t want a lot of growth. They want to maintain that quaint, original footprint.” Before the pandemic, Cournoyer and his colleagues had their eye on equestrian-minded buyers who’d travel north with their horses and blend in with the local community. “We were targeting ‘horse people,’ those who want an equestrian-riding arena with no HOA,” he says. Now, with buyers looking for plenty of space for social distancing, he is targeting a buyer who “wants to totally be off the grid, and get away from fast-paced, everyday life.” Sounds like a dream! The post This Colorado Shipping Container Home Is Stylish and Ideal for Social Distancing appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/unique-homes/shipping-container-stylish-social-distancing/ Until recently, the prognosis for the housing market wasn’t great. With the economy in a free fall, home sellers swiftly took down their “For Sale” signs and many buyers chose to wait out the coronavirus pandemic. It was like the pause button was pushed on the normally bustling spring home-buying season. But as states reopen their economies, the summer real estate market just might turn out to be hotter than anyone was anticipating. For the first time in more than two months, mortgage applications for home purchases were up year over year, rising an impressive 8.7% as buyers raced to lock in record-low mortgage rates in the week ending May 22. This is according to a weekly survey from the Mortgage Bankers Association that spans more than 75% of U.S. residential mortgage applications. The purchase loans did not include mortgage refinances for those who already own homes. “This is a bit of a bigger rebound than I expected,” says realtor.com® Chief Economist Danielle Hale. “It’s a sign that we are going to see a delayed seasonal bump in home sales. There’s pent-up demand from people who weren’t able to get out in the early part of the spring, and we’re seeing that [materialize] now. “Normally we see sales really ramp up in March and April,” she continues. But amid the pandemic and widespread job losses, many Americans wanted to wait not only until they felt more secure in their jobs but also until they could physically step into the homes they were considering. “We’re going to see that ramp up in June and July,” says Hale. The recovery may be thanks to folks becoming more comfortable with the idea of embarking on the home-buying process as they’ve gotten used to taking precautions such as wearing masks and keeping social distance. Plus, more sellers are listing their homes now that cities and states are loosening restrictions. And then there are those ultralow mortgage rates, hitting 3.08% on Wednesday for a 30-year fixed-rate loan, according to Mortgage News Daily. “The low mortgage rates, without a doubt, is helping to entice buyers back into the market,” says Lawrence Yun, chief economist of the National Association of Realtors®. Folks may also look at it as a less volatile investment. “Real estate may be viewed as a safe asset in the upcoming years,” says Yun. Despite the highest unemployment since the Great Depression, buyers are also taking out larger mortgages again. The average loan size was about $340,200 in the week ending May 22. That was up from a low of $315,300 this year in the week ending April 3. While laid-off or vulnerable workers certainly don’t have investment on their minds, today’s intrepid buyers are better off financially—and are typically still employed, says MBA economist Joel Kan. Before the crisis, purchase applications had been rising about 10% annually. Then they plunged in mid-March as the nation declared a state of emergency, hitting their nadir in early April, with applications down more than 35% year over year. However, as time passed and states began reopening, more would-be homeowners began submitting applications again. In the previous week, applications were down only 1.5% annually in the seven days ending May 15. “The pandemic really hit us right at the time when home-buying activity really ramps up,” says Kan. That’s resulted in “a late home-buying season.” The recovery has been uneven, though, with the number of purchase applications remaining well below normal levels in the hardest-hit states. In New York, the nation’s COVID-19 epicenter, purchase applications were still 16.9% less than a year ago in the week ending May 22. However, that was a big improvement over the previous week, when applications were down 32.8%. In Washington state, applications were 23.1% below the same week last year, while in California they were down only 1.7%. Despite the encouraging national numbers, it’s likely too soon to declare a roaring comeback for the housing market. “I’d want to wait a couple of weeks so we know that this is really a trend and not a one-time blip,” says Hale. Plus, there is still a severe housing shortage, which has only gotten worse during the public health crisis. Many sellers have pulled their properties off the market or are holding off on listing their abodes until the virus is under control and they can fetch top dollar for their residences. That can make it tough for buyers to find the right properties. “Sellers haven’t come back as quickly to the market as buyers have,” says Hale. “Buyers may be surprised by how competitive the market is.” This could result in higher prices this summer, as there will be more folks competing for homes than homes for sale. “Given the strength of this recovery, home prices will probably rise about 4% to 6% in 2020,” predicts NAR’s Yun. Hale also believes prices could go up and stay that way through the late summer. But if the coronavirus resurges in the fall and the economy continues to falter, prices could flatten or even dip a tiny bit by the end of the year. They’re not likely to plunge like they did during the Great Recession, though, as demand is simply too high. “We have so many millennials who are at ages when they want to settle down and they want to buy a home, and that really helps keep the market busy,” says Hale. The post The Summer Home-Buying Season May Be Much Hotter Than Expected—Here’s Why appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/summer-real-estate-market-coronavirus/ Tiki bars may prove to be the hottest amenity this summer. With vacation plans scuttled and large gatherings at the beach frowned upon, a backyard paradise that evokes tropical vibes looks as appealing as a well-mixed mai tai. These backyard paradises feature huts with thatched roofs and a belly-up-to-the-bar setup with stools, counter space, and an area for mixing drinks. Throw in some space for grilling, and a tempting Tiki bar may be key to surviving a summer of social distancing. Floating on dreams of pineapple juice and ice, we set out to find homes for sale with Tiki bars. We found nine properties for sale across the country packing a tropical punch. And the amenity spans all price points, from $229,900 to $3,950,000, leaving you with cash to stock the bar with cocktail spirits, paper umbrellas, and ceramic Tiki mugs. 1300 River Ridge Dr, Vero Beach, FLPrice: $3,995,000 If you’re in search of a luxe bar along the waterfront, we’ve found the place. Flaunting Hollywood Regency interiors, this 5,000-square-foot home has black-and-white awning running the length of the home. But the swim-up Tiki bar in the backyard is the true highlight. A fire pit and infinity pool join the Tiki bar for entertaining fun. ——-- 1415 Taurus Ct, Merritt Island, FLPrice: $459,999 Perched on a dock hugging a waterway, this three-bedroom home on a barrier island sits just south of the Kennedy Space Center. Built in 1974, the property is full of surprises. Four years ago, the owners installed a 10,000-pound boat lift, rescreened the saltwater pool, and extended the lanai. Sip a daiquiri right next to the dock and live your best life. ——-- 3817 Indian Ridge Ln, Defiance, MOPrice: $884,900 Complete with faux palm trees poolside and a stainless-steel grill built into the Tiki bar, this four-bedroom home sits on a secluded 3-acre lot. On chilly nights, cozy up to the new deck’s fireplace. You’ll be the talk of the town once locals learn your Tiki bar is totally swim-up. ——-- 1183 Claire Rd, Crownsville, MDPrice: $395,000 This ’70s-era home just 8 miles northwest of Annapolis is a delightful surprise. It comes with a Tiki bar with a faux heron, a rock waterfall and fish pond, and landscaping with tropical ferns. Five community beaches are nearby if you get the itch to—after a few mai tais—go for a swim. ——-- 3520 Birch Ter, Davie, FLPrice: $1,550,000 If you plan to (someday!) host a large gathering with a Hawaiian theme, this pavilion-size Tiki bar is perfect. Four open walls and a bar in the middle will ensure proper flow of fruity drinks, and the grass expanse lends itself to hula dancing. The five-bedroom custom home boasts nearly 7,000 square feet of living space, which includes an office, 22-foot ceilings, walk-in closets, and a chef’s kitchen for preparing pupu platters. ——-- 3376 Cedar Crest Loop, Spring Hill, FLPrice: $367,500 Artfully built into the side of a four-bedroom house, this petite bar is outfitted with a thatched roof and bar-height countertop. You can splash in the nearby saltwater pool or pass food and drinks through the window to your guests. And speaking of guests, the fourth bedroom has private patio access and an adjacent bath. ——-- 5400 Little Pkwy, Sherrills Ford, NCPrice: $1,690,000 Log cabin and Tiki bar?! Welcome to this four-bedroom home on 26 acres just 50 miles outside Charlotte. With soaring ceilings and a refined log cabin aesthetic, this family-friendly property has a cozy feel. Poolside, the Tiki bar is its own mini log cabin with a thatched awning and bar-height counter. ——-- 2940 Pleasantville Rd NE, Pleasantville, OHPrice: $454,510 Thirty miles south of Columbus, this two-bedroom home is set on 11 blissful acres, which offer plenty of room for outdoor entertaining. Fortunately, the current owners have done all the work, maintaining a private beach and Tiki hut. A wraparound porch further capitalizes on the wooded views. ——-- 2321 Magill Ave, Clovis, CAPrice: $474,900 This Central Valley town does get warm, but the pool—and accompanying Tiki bar—is a cool relief from hot summer days. Upgrades are in abundance in case you want to bring the party indoors. The kitchen now features new quartz countertops and stainless-steel appliances. The post Raise a Mai Tai: These 9 Homes With Tiki Bars Are Lit! appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/unique-homes/raise-a-mai-tai-these-9-homes-with-tiki-bars-are-lit/ Shopping, eating out and other consumer-spending categories are in free fall. But people in premium apartments are still paying their rent, the country’s largest publicly traded landlords were eager to report this month. The seven largest real-estate investment trusts that specialize in mostly high-end apartments each collected at least 94% of their total rent payments in April, according to recent earnings statements. Beyond the high-end segment, many apartment owners are feeling pressure during the coronavirus pandemic. More than 30 million Americans have applied for unemployment benefits, in some cases sparking rent strikes among mostly financially pinched tenants. Analysts expect rents to decline even for better-off tenants, as landlords capitulate on price to keep apartments occupied. But for now, the many big apartment owners whose tenants have average household incomes exceeding $100,000 a year are doing fine. Their renters are much more likely to be college-educated, with white-collar jobs that have been less affected by the pandemic. According to a recent Federal Reserve survey, 62% of workers with a college degree said they worked from home in March, whereas just 20% of those with only a high-school diploma did. Some of these property owners are looking to raise rents. Apartment Investment & Management Co., or Aimco, said it has Northern California apartments that house Facebook Inc. and other tech workers whose jobs haven’t been affected by the pandemic. “Those residents are quite comfortable and not put off by the fact that we are actually increasing rents,” said Aimco executive Keith Kimmel on a recent company earnings call. Even Mid-America Apartment Communities Inc., a landlord less invested in the coasts and whose tenants earn between $65,000 and $75,000 a year, had rent-collection figures that were on par with or better than its more upscale peers. About 80% of apartment renters nationally paid some or all of their rent during the first week of May, according to the National Multifamily Housing Council, a trade group. That percentage has continued to rise throughout the month, as more tenants make payments and unemployment benefits reach more renters who are out of work. Apartment REITs also report success adapting to the world without in-person apartment showings, leasing new units based on virtual, online tours alone. UDR Inc., a Colorado-based owner, said all its traffic during the pandemic has been virtual, including apartment tours conducted over Zoom. And some landlords say they expect to use more virtual tours in the leasing process even after Covid-19, the disease caused by the new coronavirus, has subsided. Still, apartment owners have withdrawn their annual guidance and are bracing for the prospect of a prolonged economic downturn. That means renewing more leases without any increases in rent, a hit for owners with business models that have relied on annual rent increases since the previous downturn. John Pawlowski, an analyst at Green Street Advisors, said people might flee high-rent districts in cities for less-costly apartments in suburban areas or double up with more roommates to afford rent. According to a Green Street analysis, the large apartment REITs offered more rent concessions on new leases in April than they have at any other time in recent years. Amenities such as gyms, community spaces and rooftop pools are still closed at many buildings, making high rents a tougher ask. Even some hot markets have shown signs of softening. Asking rents in luxury buildings in San Francisco were down on an annual basis in April for the first time since 2010, according to a report from property-data firm Yardi. Los Angeles and Orlando, Fla., also experienced declines in asking rent for this same class of apartments. Despite the rosier-than-expected performance numbers by landlords in the first months of the pandemic, apartment REIT stock prices have lost 23% in 2020, compared with the 8% decline for the S&P 500 stock index, including reinvested dividends. Camden Property Trust is offering renewals with 0% increases, Chief Executive Ric Campo said. That is down from the 4% or 5% increases the Houston-based landlord was charging in recent years, but still not bad during tough economic times. Mr. Campo said that if a prolonged downturn occurs, it could lead to a steep drop in construction activity, increasing demand for existing apartments once the economy begins to improve. “What could happen is that rents could decline some, but they won’t fall to the basement,” he said. The post High-End Apartment Owners Dodge Economic Slump appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/real-estate-news/high-end-apartment-owners-dodge-economic-slump/ Brad Parscale, campaign manager of President Donald Trump‘s 2020 re-election bid, just might have found a renter in Florida. The Fort Lauderdale unit he had up for lease at a price of $4,500 a month went off the market a couple of weeks ago. Parscale first placed the townhome on the rental market a year ago, for $6,500. The rental price was dropped to $5,500 and went off the market in July 2019. In December 2019, the digital media consultant then pivoted and put his unit in the Gale Residences up for sale. The “immaculate” residence hit the market for $985,000, before a price cut to $965,000 earlier in February. Since then, the pristine property had been available for both lease and purchase. The listing returned this spring as a monthly rental for $5,200, and then the price dropped down to $4,500 in April. That price cut might have enticed a renter to make the leap to this waterfront property. Terms considered for the rental include a “lease purchase.” So, if a potential tenant likes it, there could be an option to own. Whether for renters or owners, the place has plenty of perks. The listing details for the swanky spot say the place is “designer decorated” and features “over $200,000 in upgrades alone.” The 12-story luxury high-rise was finished in 2018, so Parscale’s two-bedroom place is practically new. It’s just a block away from the beach, and the 1,488–square-foot interior features a stylish, modern decor, a grey palette, beamed ceilings, and comes fully furnished. The open floor plan features a living area with flat-screen TV and a sectional sofa. The sleek, open kitchen features a waterfall island with bar seating, and looks out to an adjacent dining area. Sliding glass doors open out to a private outdoor terrace with a built-in barbecue, fire pit, and seating. Abstract artwork, modern light fixtures, and throw rugs decorate the space. The master suite includes a floor-to-ceiling window, and a marble bath with dual vanities. The building is located close to the airport, and its amenities include a 24/7 concierge, beach service, two pools, a screening room, and fitness center. As for Parscale, he recently upgraded to a $2.4 million waterfront home with a pool, boat dock, and summer kitchen—also in Fort Lauderdale. The deal closed on this upscale abode in early January. Built in 1968, the newly remodeled home, which backs onto a canal, has four bedrooms, 4.5 bathrooms, and 3,415 square feet of living space. It is set on over a quarter of an acre, and its updated interior includes marble floors, glass walls, and a kitchen with high-end Gaggenau appliances. The grounds feature an outdoor space for dining and cooking as well as a heated pool. Updates include a Sonos audio system, Lutron window treatments, as well as lush landscaping outside. And there’s plenty of room to park your boat, with dock space for a 70-foot vessel. Parscale, 44, rose to political prominence as the digital media director for Trump’s 2016 presidential campaign. Before that, he worked for the Trump organization as a website designer in 2011. In 2015, Trump hired Parscale’s firm, Giles-Parscale, to create a website for his then-exploratory campaign. After running a winning campaign, the consultant was tapped back in 2018 as the campaign manager for Trump’s re-election bid. The post Trump Campaign Manager Brad Parscale May Have Found a Tenant for His Luxe Townhome appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/celebrity-real-estate/brad-parscale-fort-lauderdale-rental-buys-home/ There are so many things to consider when looking for the right home: Is it located in a good neighborhood with an easy commute to work? Does the price tag fit within the budget? And perhaps most importantly, does it have everything that Fido and Tigger need to live long, happy lives there? Almost 95% of pet owners said they considered the needs of their furry friends to be important when selecting the right home to buy, according to a recent realtor.com® survey. More than 2,000 buyers participated in the survey conducted in March in which roughly 82% of respondents were pet owners. About 61% of participants were dog owners, 45% were cat owners, 12% were fish owners, and 9% had birds. Some folks had multiple pets. “We believe that a home is so much more than a roof and four walls. It is where family and friends come together and memories are made,” realtor.com Chief Marketing Officer Nate Johnson said in a statement. “The results of this survey reinforce that our pets are our family and an important part of what makes a house a home.” The top home features for pet parents were big yards, at 38%, and outdoor spaces, at 29%. Those four-legged companions need ample space to run around and sun themselves so they don’t wreck the house! Pet owners also prioritized garages, at 24%; dog runs, at 22%; and lots of indoor square footage, at 20%. That could help to explain why 68% of pet owners would pass on their dream house if it didn’t accommodate the needs of their animals. Clearly, it wasn’t perfect if it there were too many stairs for Couscous or it was a little too close to the highway for Mr. Giggles. It may not be surprising that, among the survey respondents, 87% of dog and cat owners rated their pets’ needs as extremely or very important when selecting a home. But 89% of bird owners, 85% of fish owners (really?), 79% of rodent owners (eww!), and 74% of horse owners also said they would also consider their animals before purchasing a property. The post Will Fido Be Happy Here? How Much Pets Matter When Buying a Home appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/buying-a-home-with-pets/ For baby boomers, the question of when—and where—they’ll retire is a perennial topic of discussion. But with the novel coronavirus sweeping the globe, it has become an especially pressing question these days. Many are feeling the pressure to ramp up their decision-making and act fast—between concerns over COVID-19 contagion, rampant layoffs, and new rounds of self-reckoning where they ponder “Why wait to realize my dreams?” Many believe that the time is now to make real estate decisions they’ve been putting off—or they’re changing course entirely. Whether you’re a boomer yourself or just paralyzed about your next move, these stories might inspire you to get unstuck, or at least realize that you aren’t alone. Here’s how the current coronavirus crisis has radically transformed three people’s best-laid real estate plans for the better. ‘COVID-19 convinced me to stay put’Kristin Donnan, 57, an author and arts advocate, had her retirement house all picked out: a one-level cottage in a vibrant, bustling 55-plus community near San Diego. She was preparing to make an offer. There was just one thing she had to do first: Help her mother sell the property where she’d grown up in Hill City, SD. With 20 tree-filled acres, three buildings, and a barn, it needed some sprucing up and purging before it could fetch top dollar. Donnan had moved back home temporarily to assist her mother in readying the compound, but had vowed to move on with her own plans once the property sold. But no buyers came knocking, and then the COVID-19 pandemic hit. By April, “my urban friends in California were telling me what lockdown looked like,” Donnan says. This prompted her to reconsider her plans to return to the “civilization” where she’d always assumed she’d end up. “A lot of things made me think about leaving Hill City—including politics and the scarcity of cultural activities,” she says. “I was eager to return to the conveniences of Southern California, willing to deal with traffic, too many people, earthquakes, smog, blackouts … until COVID-19.” While Hill City may lack California’s cultural buzz and arts scene, she realized there was value in “being out of the rat race and out of the panic,” she explains. “The danger is very low here. My yoga studio just reopened. I can go to the grocery store, take a hike, visit others who are as isolated as I am, see a friend for tea. It’s calming.” So although her mother’s house is still for sale, Donnan’s life plans have changed course. “I’ll stay here until it sells and then move elsewhere in the area,” she says. “There are events like wars and 9/11 that change everything. This is one of those moments. The pandemic has made me realize the benefits of having a place in rural America.” ‘COVID-19 motivated us to sell our home ASAP’Allyson, 60, a college consultant, and her husband, Al, a psychiatrist, always knew they’d sell the Westchester, NY, house where they’d raised their kids someday. The coronavirus, however, prompted these empty nesters to fast-forward their home-selling plans to right now. “Selling our house has definitely become a priority,” Allyson says. The underlying motivations for unloading their Colonial—“our high taxes, not having kids in the schools anymore, and having more house than we need”—hadn’t changed. So what had? “I heard that many New York City residents are trying to quickly move to the suburbs,” Allyson explains. “I plan to hustle to get my house on the market and take advantage of that.” Allyson says she’s been talking with a friend who is a real estate agent, and is busy booking a painter and handyman to get her home in perfect shape for prospective buyers. Since hiring professionals to come to the house is still dicey, the place may not hit the market until late summer or early fall, but it will definitely happen this year. Although it’s stressful to deal with this work and a move during the coronavirus pandemic, they feel glad to get the wheels in motion for a process that can take many people years to accomplish. As for where they’ll move next, they haven’t figured that out quite yet. But they are all but certain it will be farther away from the city, not closer. The coronavirus has crystallized that for them. “I am a little fearful of living near New York City now primarily because of the density: What if this goes on and on or happens again?” she says. “I don’t want to be cooped up with no place to go.” ‘COVID-19 convinced me to move to my retirement home early’David, 66, who lives in Boston, thought he’d stay a New Englander for a few more years. But the COVID-19 pandemic galvanized his long-simmering plans to head south. “I grew up in Georgia and miss some aspects of Southern life, including the weather,” he explains. “That becomes a bigger deal every year. But I wanted to keep earning as much as I could until age 70, the way you’re supposed to if you want the biggest Social Security income.” However, since he works in fundraising for an arts organization, he’s seen his work hours dramatically reduced since COVID-19 came to town. “Our organization came to almost a full stop, and, while still employed, I took a significant salary cut,” he says. “And the fact that the arts will be among the last areas to reopen in hard-hit states makes me think my work life is over.” David chooses to look at this as a glass half-full. “It’s a sign to move on to the next phase of life,” he says. “I’ve been talking about buying a little, cheap, beach-bum place in Florida for years. Now, I’m ready. This virus has brought me face to face with my mortality. The time to realize my dreams is now. There are no guarantees.” He is actively searching online for a cottage or condo near the water in the vicinity of Tallahassee, FL. Working with a local real estate agent, he’s doing virtual walk-throughs on FaceTime. While he’s not sure if he’ll actually buy a house sight unseen, he’s excited to be laying the groundwork for the next phase of his life. “Right now, I’m terrified to go to the Public Garden [in Boston] to see the flowers in bloom,” he says. “The idea of having a laid-back life, listening to the surf, going fishing in Florida, that will be heaven! For me, this tragedy has a silver lining.” The post How the Coronavirus Is Changing Some Boomers’ Real Estate Plans for the Better appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/how-the-coronavirus-changed-baby-boomers-real-estate-plans/ |
About usI am Casey Abby From USA and I am 30 Year Old. I done my study recently in MBA Marketing. Archives
April 2021
Categories |