August 10, 2018
Key Housing demand fell 9.6% in June, compared with June 2017, the largest decline since April 2016. (Redfin)
Number of people requesting home tours fell 6.1% annually in June, according to Redfin’s index, which covers 15 large metropolitan housing markets. There were 15% fewer offers made on homes as well.
Supply of homes for sale in June increased very slightly, according to the National Association of Realtors. However, in Redfin’s major market index, the total number of homes for sale was 3.8% lower than a year ago and there were 1.6% fewer new listings.
NAHB Reports 55+ Housing Market Index Remains In Positive Territory
Builder confidence in the 55+ single-family housing market index (HMI) increased one point to 67 in Q2 2018.
Split into two segments, the single-family segment increased three points to 73, sales expected in the next six months dropped three points to 77, and traffic of potential buyers fell four points to 47.
Meanwhile, the 55+ condo HMI dropped seven points to 57, which is still the second highest since the inception of the index in 2008. Present sales fell six points to 61, sales expected in the next six months dropped seven points to 63 and traffic of prospective buyers declined 11 points to 44.
If you are selling a home in Alabama, Colorado, Florida, Georgia, Maryland, Oklahoma, South Carolina, Texas, Virginia and Washington D.C., you can make it more affordable for your buyers 62+ to purchase with a Home Equity Conversion Mortgage (HECM) for purchase.
7 Steps Toward an Effective Marketing Strategy
Real estate agents face huge competition. Create a well-thought-out, properly executed marketing plan in seven steps to maximize the time, energy, and money you invest in the promotion of your business.
- Define a Mission Statement – Your mission statement is your big-picture vision or the overall purpose of your marketing campaign. A mission statement is not a goal but should be followed through by measurable goals.
- Research a Target Demographic – It’s not impossible to market to everyone, so choose your target audience carefully. To effectively market to a specific demographic, it is necessary to research the typical behavior of your chosen demographics’ behavior. Media mediums, location, and language will all affect how you reach your target audience.
- Perform a SWOT Analysis – SWOT stands for Strengths, Weaknesses, Opportunities, and Threats and is used to analyze your business portion of the industry. SWOT encourages self-evaluation and can be broken down into actionable steps to discover company strengths, weaknesses, and threats.
- Define Your Brand – Completing a SWOT analysis can help you discover your brand. The brand is one of the most important parts of a business because it sets the scene for your entire marketing strategy. Remember, consistency with your brand is key.
- Research Media Sources – Not every media outlet will reach your target audience, so it is important to research and decide which media platforms connect with your chosen demographic. Younger generations typically prefer social media, mobile, and search ads, while older generations prefer billboards, newspaper ads, and television commercials. Regardless of the media platforms, having an active social media presence is essential to connect with your audiences.
- Set a Budget – Though the saying “it takes money to make money” rings true, you should be realistic about your budget and stick to it. For every marketing campaign, you should review upfront costs and estimate a return on investment.
- Analyze Results and Correct Course – After every marketing campaign, it is important to analyze the results to see what worked and what needs improvement. Analyzing results will help you determine how to better budget, change your message and/or media to better reach your target demographic, keeping the things that worked and changing the things that didn’t.
Evite Now Offers Real Estate-Themed Invitations
Evite now offers real-estate themed invitations to help real estate professionals plan their next event. Real estate professionals will be able to create invitations for open houses, just listed, and housewarming parties.
Through Evite’s free service, real estate professionals can choose between various invitation choices and upload an image of the home featured in their event. Through Evite’s Premium options, agents can pay annual subscriptions priced between $12.99 and $109.99 to access all invitations without advertisements and with full customization.
The Future of Single Family Homes
The American front porch debuted as far back as the early 1700s, and this iconic piece of American architecture could be coming back in a big way over the next 20 years. While nearly 1 in 3 homes in 1999 had decks and half had porches extending from some region of the dwelling, Porch predicts less than 17% of new home builders in 2036 would continue to feature decks compared to the over 82% that will include porches instead.
The average house size in 2016 was 2,600 square feet had 3 bedrooms, 2 full bathrooms likely to have central a/c, and sold for $198,000. By 2036, the average newly-built home is expected to be 3,000 square feet, definitely have central a/c, with 4 bedrooms and 2 full bathrooms, and sell for $305,000. About 63% of buyers will finance these purchases with a conventional home loan.
See the full report >
How to Modernize Spaces with Glass
Glass can be used in contemporary features like sliding and interior doors or modern design with elements like glass flooring and ceilings. Add more glass to your next home build with these glass design suggestions:
- Up and Over – This design captures sunlight as it moves around the property and is best suited for narrow installations of glass and side-infill extensions.
- Live Large – Oversized glass doors or a wall of doors provide maximum sunlight and uninterrupted views of anything you want to showcase.
- Internal Door – Oversized glazed internal doors create a chic look for compact corridors and living spaces while making the room feel more spacious.
- Walk This Way – Installing glass the full length of a second dining space brings natural light to terrace or basement levels where there are no windows or light wells.
- Glass Floor – Placing strong, glass panels alongside glazed patio doors or directly under a roof light will filter sunlight from one room to the one under it without installing more windows.
- Overhead Projection – Roof windows can let in almost twice as much natural lighting as a conventional vertical window. Roof windows also expand the feeling of space in a room while providing a jaw-dropping view of the sky at all times of the day.
- Work of Art – Adding a contemporary stained glass design to windows, doors and dividing walls can bathe a room in richly colored streams of light produced when sunlight strikes stained glass.
- Divide and Rule – If you’re building broken-plan living instead of an open floor plan, internal glass walls and windows will visually and physically separate a room while providing privacy with privacy glass that changes from clear to opaque.
- Floating Stairs – Installing glass stairs can separate spaces while providing light and a sense of flow.
- Inside Out – Glass walls can help erase the boundary between inside and outside. Adding a solar-control coating will provide solar protection and reduce overheating.
- Box Clever – A glass box extension with a minimalist a barely-there frame can add a contemporary flair to a traditional home.