Monday Morning Update

As you may notice, I'm posting a little later than normal. Somehow I didn't set my alarm and slept in later than normal!... I guess I should set a daily alarm because this is not the first time it's not gone off.
I can't lie though, the extra hour of sleep was nice!
It was a beautiful weekend. It was sunny with nice temperatures- I showed properties on Saturday, had a bridal shower and then my sister and her husbands birthday celebration on Sunday. All in all, it was a great weekend! TODAY however, it's snowing! Like, a lot.

I love learning about housing trends, both the sales stats and what is "in" such as what buyers are wanting and style/decor trends.
The National Association of Home Builders studied the trends compiled the list of "What Home Buyers Really Want." It's good information to know as a Realtor, home seller or buyer (because one day you will be a seller!).

What Do Home Buyers Really Want?

Many in the housing industry are wondering not only what today’s home buyers really want, but also what they are ready to leave behind in light of current economic realities.  A new study recently released by NAHB, What Home Buyers Really Want, was designed to answer these questions, and more specifically, to provide the most current and accurate information on buyer preferences so that NAHB members can deliver the home (and community) that today’s buyers want and are willing to pay for.
So what do home buyers really want? The first answer is energy efficiency. Four of the top most wanted[1] features involve saving energy:  94% of home buyers want energy-star rated appliances, 91% want an energy-star rating for the whole home, 89% want energy-star rated windows, and 88% want ceiling fans (Figure 1).

The second message buyers are sending is they want help keeping their home organized.  The laundry room is wanted by 93% of buyers; in fact, 57% consider it essential and would be unlikely to buy a home without it.  This shows that most buyers want to keep the dirty laundry contained in a room and away from plain view.  Moreover, nine out of ten buyers want a linen closet in the bathroom to help keep towels and toiletries organized.  Space in the garage to store bikes, sports equipment, or gardening tools also ranks high on the buyers’ wish list: 86% want it.  And a walk-in pantry in the kitchen is something most buyers care a lot about as well (85%).

What features should builders be careful about including in a typical new home? First and foremost, an elevator.  Seventy percent of buyers reject it, meaning they would be unlikely to buy a home that included it.  Interestingly, four of the next five most unwanted features are not about the home itself, but about the community.  For example, 66% of buyers do not want to live in a golf course community, 56% reject the idea of living in a high density community, 48% do not want a gated community, and 44% would not buy a home in a mixed use community (Figure 2).



More than half of all buyers also discard the option of having only a shower stall in the master bathroom with no tub (51%), and many are saying ‘no’ to two-story spaces as well.  About 43% of buyers do not want a two-story family room and 38% feel the same way about a two-story entry foyer.  Many buyers now consider these large, open spaces as energy-inefficient – the last thing they want for their homes.  A complete outdoor kitchen is not an important priority to many buyers either, as 31% flat out discard the possibility of washing dishes, cooking, and keeping food refrigerated outdoors.  For most buyers (62%), an outdoor grill will suffice.

Monday Morning Coffee update

I hope you had a fun, safe an lucky Saint Patrick's Day celebration! I was able to mix business and pleasure this weekend, which is often tough to do. A few house showings on both days and a St. Patty's party on Saturday made it a great weekend! I was not so lucky when someone decided to hit my car and not leave a note or anything... ::sigh::

Market Update:

Montgomery County reported a 13% increase in Pending homes and an 4% increase in Settled properties in February 2013 compared to February 2012, with an additional 14.1% drop in inventory. 

There have been 823 settled properties in 2013 with an average sale price of $298,000.

For information on your county, please contact me directly

Local News:
I work with a great agency, Keller Williams. Based out of Austin, TX, they have exploded into the Philadelphia market over the past years and I'm proud to be a part of the growth. Philly.com wrote an article highlighting the fact we were listed as one of the top companies to work for in the Philadelphia region. 

"The enthusiasm and positive attitudes the people at Keller Williams have at work is a testament to how the company did both during and after the recession. While the housing market is showing signs of recovery lately, Keller Williams is still ahead of the curve.

The company says its Philly area business grew about 5 percent more than the Philly area market in the past year.

David Conord, the regional director in the Philadelphia area, says two things drove the company's success during the down market.

"We say that we make our own market, we don't allow the circumstances to dictate our outcome," he said. "So we have to face reality of what it is, but we have to learn how to adjust to that and still be successful."

Conord also said the "continual focus on doing the right thing and providing our agents with what they need" in terms of education and training is the other key to that growth.

"If we're taking care of our people, then they're succeeding, and by doing that we attract other people to us," he said."

Read more: 
www.philly.com

Tips for Sellers

Monday Morning Coffee Update

Spring is finally here! We moved the clocks forward this weekend which means MORE SUNSHINE! I feel like when there's sun, people are motivated to get things done. Whether is cleaning out your car, going for a run or finally painting your bedroom, the combination of warmer weather and longer days brings that push to start.

In my business, the combination of weather and sunlight also brings out the home buyers. Yesterday I held an Open House and it was crowded with people hoping to find a new home. New homes are popping up for sale and even more are going under contract each day.

Market News:
According to RealEstateEconomyWatch.com

...The housing recovery is expected to grow at an annualized rate 0.6 percent through the third quarter of this year, then gain momentum and prices are projected to grow 3.7 percent between the third quarters of 2013 and 2014 until settling down to 3.3 percent annual increases over the next three years according to Fiserv, a financial services technology provider using data from the Federal Housing Finance Agency (FHFA).
Both home prices and home sales volumes increased steadily last year, making 2012 the first positive year for both prices and sales since the housing market crash, excluding gains induced by the home buyer tax credits in 2009 and 2010....
The recovery in home prices has been solid and broad-based. At the end of the 2012 third quarter, prices were rising in approximately 62 percent of all U.S. metro areas, compared to 12.5 percent in the same period a year ago. Average U.S. home prices increased 3.6 percent from the third quarter of 2011 to the comparable period of 2012. Many of the metro areas that suffered the most severe declines during the housing market crash enjoyed the highest price increases in that period....

Recipes:
This weekend is Saint Patricks Day. My celebrating is much different than it was in my early 20's, but I do still love the holiday! Are you having people over or heading to a friends house for a party? Here are two easy, fun, Irish themed recipes you could bring:

Soda Bread Biscuits:
Directions
Mix 2 cups flour, 2 teaspoons sugar and 3/4 teaspoon each baking soda and kosher salt in a bowl. Work in 2 tablespoons diced cold butter by hand. Add 1/2 cup raisins and 1 tablespoon caraway seeds. Mix in 3/4 cup buttermilk. Pat out the dough until 1 inch thick; cut into four to six 2 1/2-inch rounds. Bake at 375 degrees F, 15 to 20 minutes.

Guinness Float:
Ingredients
For the ice cream:
6 large egg yolks
1/2 cup sugar
1 cup whole milk
1 cup heavy cream
1/2 vanilla bean, split lengthwise and seeds scraped out
1 ounce Baileys Irish Cream
1 ounce Irish whiskey
For the float:
Dash of chocolate bitters
2 ounces Guinness stout
Directions
Make the ice cream: Whisk the egg yolks and sugar in a large bowl until pale. Bring the milk, heavy cream, and vanilla pod and seeds to a simmer in a small saucepan. Slowly whisk the hot liquid into the egg mixture; strain through a fine-mesh sieve into a clean bowl, then set the bowl in a larger bowl of ice water. Add the Irish cream and whiskey and stir until cool. Transfer to the refrigerator and chill at least 3 hours. Freeze in an ice cream maker according to the manufacturer's directions.

For each float, put a scoop of the ice cream in a glass. Add the chocolate bitters and top with the Guinness.

If you don't have an ice cream maker, fold Baileys Irish Cream and whiskey into softened vanilla ice cream and freeze until firm.
Read more at: http://www.foodnetwork.com/recipes/food-network-kitchens

Monday Morning Coffee updates

One of my favorite things about being a Realtor is when my client finds the property they want to make their home. It's so rewarding to know I helped them find a new place to live, grow, form memories and bonds. I had a settlement last Monday with a client whom I have a close working relationship with, but on settlement day I got to experience a personal moment with her and her fiance that's truly special.
My buyer wanted this particular home from day one. It has the old charm and character she loves, great central location and within their desired price. It's hard to keep buyers unemotional, but I try because one of my LEAST favorite parts about my job is when offers get rejected or we encounter a horrible inspection. So I did my best to get the best deal, even though I knew they'd pay way more. Everything turned out great. They are very satisfied with the terms of the deal and ready to start a new journey. 
This is one of the main reasons why I love my job =)
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Real Estate Tips:
Remodeling Magazine just put out their annual Cost vs. Value report which compares construction costs with resale values for 35 mid-range and upscale remodeling projects. The report comprises additions, remodels and replacements in 9 different regions and 81 markets across the country.

Here's a snapshot of the country- wide- range remodeling projects offering the highest return:

Entry Door Replacement (Steel) - ROI on resale = 85.6%  Deck Addition (Wood) - RIO on resale = 77.3%  Garage Door Replacement - RIO on resale = 75.7%     Minor Kitchen Remodel - RIO on resale = 75.4%  Window Replacement (Wood) = RIO on resale 73.3%  Attic Bedroom - RIO on resale = 72.9%  Siding Replacement (Vinyl) - RIO on resale = 72.9%

Click here to view the Mid-Atlantic Philadelphia regional report 
Notice that most of the highest returns are from Exterior work- siding replacement, windows, garage, etc. Just proves that curb appeal is essential in getting homes sold- quickly and for highest price.
 *First impressions are so important*