Real Estate Blog by David Phillips, REALTOR

Single Women Are Now Home Buyers

Single Women Are Now Home Buyers

The percentage of women over the last decade in the work force has risen roughly 11 percent and women going into 2014 are projected to account for 47 percent of the total labor force according to the United Stated Department of Labor. Demographic changes are helping to fuel the trend. 
 
More women than ever are the primary earners in their households, according to a recent Pew Research Center study. In a record 40 percent of American households with children— nearly four times the level in 1960 — women are the breadwinners. And about two-thirds of these breadwinners are single.  According to the National Association of Realtors, single women accounted for 16 percent of home buyers last year, lower than their long-term average of 20 percent. Yet they were still well ahead of single men, who accounted for only 9 percent.

Single women with no children are on track to out earn their male counterparts in many metro areas. This could allow greater numbers of women in this demographic to make major purchases, such as new property.  Solo females began to outpace lone males in purchasing homes in the early 1990s. By 1999, single women represented about one in five total sales, buying homes at twice the level of single men, a proportion that has held roughly steady since, according to National Association of Realtors data. 

Women often handle credit more responsibly than men, on average, according to Experian, which reports that men have a 7 percent higher incidence of late mortgage payments and 4.3 percent more debt than women.
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Why Using a Professional Photographer is Important When Selling Your Home

Why Using a Professional Photographer is Important When Selling Your Home

We live in a time where digital photos are everywhere.  Take Instragram, Snapchat, Facebook and of course Pinterest as prime social media examples of where photos are instant forms of communication.  It's because of these social networks that consumers demand a visually appealing online presence.

According to the National Association of Realtors, nine out of 10 home shoppers begin their search on the Web.  Due to this listing photos can play a major role in how quickly your home sells, the home price it's listed at and of course even if it  sells at all. "Photography is at the center of all your marketing," says Brian Balduf, chairman of VHT, ..."It's not just documenting that there is a house for sale. You want people to say, 'What a house,' " and be motivated enough to take action.

Research done by Redfin, a real-estate brokerage firm based out of Seattle, Washington shows that listings of homes with photos taken by professionals have about 61% more views than listings without—and that's across all price tiers.  In addition, research from the National Association of Realtors, indicates that 98% of home buyers who searched for a home online said photos were among the most useful features of real-estate websites.

"When people are searching for homes, they search by price range, location [and the numbers of bedrooms and bathrooms]. But then once they have the list, the visual piece becomes a larger and more important part of the decision," says Jani Strand, spokeswoman for Redfin. "Photos are the first impression, and can generate interest and excitement, which leads to good offers."

In a study across 22 markets, Redfin found that homes priced between $200,000 and $1 million sold for an average of $3,400 to $11,200 more than their list prices when professionally photographed...

Should You Buy or Sell Real Estate During the Holidays

Should You Buy or Sell Real Estate During the Holidays

The holidays are a fun and festive time, but what about buying a house?  Should you try to do that in November or December?  If you're not picky about the home you intend to buy, the answer might be yes.

Sellers tend to avoid the end of the year due to the short days, wintry weather and the conventional wisdom that says buyers are otherwise occupied. But for those who do choose to sell at year end are often under pressure and highly motivated to cut a deal and that's why it might be a smart time to buy. Determined househunters can take advantage of sellers' urgency.

The biggest downside is the limited supply of for sale homes, which occurs mainly because sellers are so uninterested, but a couple of things are working to your advantage. There will be less competition for any house you do find and fall in love with and less competition should translate into a bigger discount. Prices are typically at a 12-month low in December, according to Realtor.com. Less competition from other buyers during the holiday season might mean you'll be able to negotiate a favorable price for a home you want to purchase. Still, with fewer homes from which to choose, you might have to lower expectations.

If you're a serious buyer, don't be shy about intruding into sellers' homes at a time normally reserved for family and friends. If a home is for sale, presumably the owners want sincerely interested buyers to see it. Indeed, sellers willing to keep their house on the market in winter may be more flexible in negotiating the terms of an offer; extending the time to close or agreeing to other cconcessions.   ...