A real estate frenzy ignited in early spring as people across the country were eager to start the process of buying or selling their homes. There is undeniable momentum in the market with home sales picking up each month and surpassing numbers from the past several years. According to the National Association of Realtors, this year the pending homes sales index rose 10.3 percent above April 2012, marking the 24th consecutive month of being above previous year’s levels.
At Coldwell Banker Residential Brokerage homes are selling quickly, particularly those that possess specific features coveted by today’s home seekers. As a seller, modifying your home to include some of these findings can prove to be beneficial in getting your home sold.
“Features that will never grow old to homebuyers still exist, like updated kitchens and bathrooms, reputable school districts, hard wood floors and plentiful storage space,” said Fran Broude, president of Coldwell Banker Residential Brokerage. “But new housing trends, such as open floor plans, new construction and smart homes are on the rise and are a sign of the times,” said Fran Broude, president of Coldwell Banker Residential Brokerage.
Wide open spaces: Long gone are the days of families seeking formal dining space for everyday use. Open floor plans, specifically in the kitchen area, have become increasingly popular to create an atmosphere where families can enjoy each other’s company while at home. Another benefit to open spaces is that it can give the illusion of larger rooms and make your space more conducive for entertaining. According to the National Association of Realtors’ 2013 Home Features Survey, eat-in kitchens were even more important to home buyers than stainless steel appliances and granite counter tops, showing the shift in conventional dining space.
New construction: There are plenty of reasons to buy a new construction home, including ease of maintenance, personalization options and benefits of modern design features. In 2012, we saw the first increase in new construction since 2007 and according to a study done by RISmedia and Dennis Walsh & Associates, 90 percent of prospective buyers have included new construction homes in their search this past year. The surge in new builds can be partly attributed to the demand for housing in a market that is experiencing unusually low inventory levels.
Smarten up your home: Investments in advanced technology for your home can be relatively inexpensive and can be the differentiating factor between your home and the house down the street. Digital Trends recommends home automation systems by companies like Crestron and AMX that provide unbelievable features that sense when you walk into a room and then automatically adjusts the temperature, triggers the lights, draws the shades or even gets the party started with piped in music. In today’s fast paced world, convenience is key! In fact, RISMedia recently released a national survey of 18-35 year olds in which 53 percent stated that home technology capabilities are more important than curb appeal.