The Kallhoff Team

Tuesday, July 30, 2013

Survey: Buyers Will Pay More for Good Schools

DAILY REAL ESTATE NEWS | TUESDAY, JULY 30, 2013

More than 44 percent of home buyers who plan to buy a home within the next two years said they would be willing to go over their budget by up to 10 percent in order to buy in their preferred school boundaries, according to a new survey by realtor.com®.

Three out of five home buyers surveyed said that school boundaries greatly impact their home purchasing decision. Nearly 9 percent of buyers indicated that they’d be willing to pay 11 to 20 percent above their budget to get a home in a desirable school district, the survey found. About 17 percent of buyers said they want to live within a mile of a school so their children can walk there.

Some home buyers said they’d even be willing to trade certain home amenities for good schools: About 62 percent said they’d give up a pool or spa, 50 percent would give up accessibility to shopping, and nearly 44 percent would pass on a bonus room.

“Our survey demonstrates the large impact school boundaries have on those looking to purchase a home,” says Barbara O’Connor, chief marketing officer at Move Inc.

The survey comes after realtor.com® launched a new mobile school search tool in April, allowing buyers to search for listings in specific school and district boundaries.

Source: realtor.com®

http://realtormag.realtor.org/daily-news/2013/07/30/survey-buyers-will-pay-more-for-good-schools

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Monday, July 29, 2013

10 Safest U.S. Cities

DAILY REAL ESTATE NEWS | MONDAY, JULY 29, 2013

For the first time since 2006, violent crime was on the rise last year, according to FBI data. But in some cities, violent crime remains well below national averages. AOL Real Estate recently analyzed the FBI’s report on crime to find the cities with populations of more than 200,000 that have violent crime rates “substantially” below the national average.

Here are the top 10 “safe zones” that made its list:

Irvine, Calif. (ninth consecutive year named safest city in the nation)
Fremont, Calif.
Plano, Texas
Madison, Wis.
Irving, Texas
Scottsdale, Ariz.
Boise, Idaho
Henderson, Nev.
Chandler, Ariz.
Chula Vista, Calif.

Source: “Safe Zones: 20 Most Crime-Free Cities in America,” AOL Real Estate (July 26, 2013)

Read more

10 Safest Places to Live in the U.S.

http://realtormag.realtor.org/daily-news/2013/07/29/10-safest-us-cities

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Friday, July 26, 2013

10 Markets Where More Buyers Bring Cash

DAILY REAL ESTATE NEWS | FRIDAY, JULY 26, 2013

Home buyers who require financing for their home purchase can struggle to compete against buyers who have offers of all-cash.

Where are all-cash deals are the most prevalent? Cash deals represented 80 percent of home sales in June in Vermont; 58 percent in Nevada; 57 percent in Florida, and 51 percent in New York, according to RealtyTrac. Cash deals represent a very small percentage in Texas, Utah, and New Mexico.

The markets with the most all-cash transactions tend to have a high number of foreclosures and depressed home prices, which attracts investors and private equity firms, according to RealtyTrac.

The following 10 metros had 40 percent or more all-cash deals out of the total home sales in June, according to RealtyTrac:

Miami/Ft. Lauderdale: 64%
Las Vegas: 62%
Tampa, Fla.: 58%
Detroit: 56%
Orlando: 53%
New York: 49%
New Orleans: 43%
Memphis: 43%
Jacksonville, Fla.: 42%
Atlanta: 42%

Source: “Housing markets where cash is king,” CNNMoney (July 25, 2013)

http://realtormag.realtor.org/daily-news/2013/07/26/10-markets-where-more-buyers-bring-cash

Thursday, July 25, 2013

More Living Under Someone Else's Roof

DAILY REAL ESTATE NEWS | THURSDAY, JULY 25, 2013

More Americans are squeezing under one roof, limiting household formation, and it's only getting worse. The number of Americans living in someone else’s home has increased 4 percent over the past year to 2.4 million, despite an improving job market, The Wall Street Journal reports.

These so-called “missing households” are adults who otherwise would be owning a home or renting but have opted to live in someone else’s home. Many of these people are living with their parents: Some studies show that 31.3 percent of Americans aged 18 to 34 still live with their parents. Seniors who are living with an adult family member are also big contributors to the “missing household” phenomena.

Stagnant household formation remains a major obstacle for the economy and the recovering housing market. But with recent progress in the economy, why is household formation still being held back? Analysts say unemployment remains high, wages are stagnant, and many young adults still lack the down payments to qualify for mortgages. High rents also may be dampening household formation. Other studies have shown that more Americans are delaying starting families, thereby taking longer to move out on their own.

“Economists say household formation is closely linked to home construction: If the 2.4 million ‘missing households’ took the leap and entered the housing market — either as renters or buyers — overall housing demand would increase, leading to a pickup in construction,” The Wall Street Journal reports.

Source: “More Americans Living in Others' Homes,” The Wall Street Journal (July 23, 2013) [Log-in required]

http://realtormag.realtor.org/daily-news/2013/07/25/more-living-under-someone-elses-roof

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Wednesday, July 24, 2013

Real Estate's New Big Buyers: Middle-Aged Women

DAILY REAL ESTATE NEWS | WEDNESDAY, JULY 24, 2013

Middle-aged women have become the fastest growing group of single female home owners, according to a new study by the real estate brokerage Redfin. The number of 45- to 54-year-old single female home owners has soared 120 percent from1982 to 2012.

“Probable causes for this phenomenon include the large baby boomer population entering this age group over the last several decades and the prevalence of divorce leading to the creation of more female-headed households,” according to Redfin.

Single females have long been big consumers of real estate. Among unmarried home owners, single women have outnumbered men since at least 1982, when the Census began collecting such data.

While middle-aged women are increasing their buying, women younger than 35 appear to be delaying home ownership until later on in life, the report shows.

The Redfin report revealed the top U.S. cities for single successful women, factoring in the percentage of women with four-year college degrees, percentage of women with a salary greater than $65,000, and the percentage of women wh oare single between 25 to 39 years old. Below are the rankings, as well as the percentage of residents who are women who are single and 25 to 39 years old:

Arlington, Va.: 24%
Alexandria, Va.: 22%
Cambridge, Mass.: 22%
Washington, D.C.: 22%
San Francisco: 21%
Seattle: 18%

Source: Redfin

http://realtormag.realtor.org/daily-news/2013/07/24/real-estates-new-big-buyers-middle-aged-women