Here's this week's roundup of news and resources, just for you.
Quick takeaways:
Homebuyers are turning to more affordable locations in search of their dream home.
Creating a walk-through video can help agents gather more leads and sell more homes.
Certain behaviors of new listing agents can seriously frustrate veteran real estate agents.
Buyer demand hits new records in 2020, with millennials playing a big role.
Experts weigh in with design hacks to spruce up homes for the summer.
Read on for our coverage.
Top 20 Affordable Mid-Sized Cities Drawing in Home Buyers
The markets attracting a lot of attention these days for house hunters are small and mid-sized cities. In a new report from Realtor.com®, the homes in these cities tend to offer more space with larger homes on bigger lots and are nearly 18% cheaper than other areas. With many home buyers wanting less expensive homes, the market is hot. Some of the most sought-after places included Manchester, N.H., Burlington, N.C., Portland, Maine, Johnson City, Tenn., Rochester, N.Y., Topeka, Kan. Fort Wayne, Ind., and Eureka, Calif. 1
Walk-Through Videos Essential to Attracting Home Buyers
In today's housing market, walk-through videos are so important -- especially for real estate agents looking to obtain new leads and sell homes faster. And if agents want their videos to stand out from the crowd, there are a few tips they should follow. First and foremost, create a game plan. After agents have a plan in place, the next steps include writing a script, getting the right equipment, doing a practice run, picking the right day, and hiring a professional. This is often the first impression that i0s made on prospective home buyers, so ensuring the video quality is top-notch is critical. 2
Rookie Real Estate Agent Moves That Set Off Seasoned Agents
When experienced listing agents are paired with brand new selling agents, it can sometimes result in real tension. Some of the top "new agent" behaviors that send veteran agents into overdrive include not reading the fine print, knowing the contract, understanding the rules, or communicating. Other frustrating behaviors include not understanding fiduciary responsibilities, properly vetting clients, learning how to say "no" to clients, or understanding inspections. 3
Buyer Demand Increased Dramatically in 2020 Thanks to Millennials
With the housing market hitting record highs in 2020, millennials played a significant role in this climb, with many striving to become first-time home buyers, according to First American. The Homeownership Progress Index (HPRI) rose to 70.21% in 2020, up from 68.58% in 2019. The HPRI is a measurement of how lifestyle, societal and economic factors influence homeownership over time. In addition, the national homeownership rate increased to 66.4%, up from 64.47% during that time. This shows that market influences were at play since the HPRI exceeded the homeownership rate. 4
Spruce Up Your Home on a Dime
Some of the top interior designers shared their favorite budget-friendly design ideas for refreshing homes this summer. The first hack on the list was to refresh color on walls and furniture to give a room a fresh, summer look. Next, move accessories such as furniture, fixtures, or artwork around. Third, accessorize with throw blankets, pillows, picture frames and mirrors. Fourth, add wallpaper to the mix for an easy way to accentuate a room. Finally, highlight windows with modern cellular shades for climate control and reduced energy costs. 5
Have any questions? Reach out to us. We are your home loan experts and are up to date with all the market industry information. kevnik@kevnikmortgage.com
Sources: 1 magazine.realtor; 2 rismedia.com; 3 inman.com; 4 nationalmortgagenews.com; 5 nar.realtor
