Home buying • July 14, 2022

What Do Buyers Value Most?

by Barbara Oskam

When asked what three things home buyers value most, “location, location, location” has long been the traditional response—and with good reason, even today, among most real estate professionals.

In fact, one recent study of 1,000 buyers reported a ‘desirable location,’ including a highly rated school district and proximity to commuter roads and outdoor recreation, can increase a home’s estimated value by as much as 30 percent—or about $100,000 in today’s competitive environment.

But amenities matter.

Among the most highly sought-after features is a remodeled or upgraded kitchen, a recent survey reported, with buyers placing a high value on upgraded appliances, countertops and cabinetry. Investing in a nicely renovated kitchen can add as much as $27,000 in perceived value in the eyes of the surveyed buyers.

More than half of those surveyed also placed high importance on the design and quality of the home’s primary bathroom, specifically an upgraded shower—increasing the home’s value by some $2,600—as well as attractive fixtures, and flooring. Some respondents noted that a nicely upgraded master bath might convince them to buy a home they might otherwise not have considered.

A two-car garage was perceived by respondents to increase a home’s value by $39,000 on average, and even a one-car garage was noted to add some $20,000 in value.

Vaulted ceilings and lots of windows, which add perceived spaciousness, translated into high value for buyers, increasing a home’s value by more than $27,000—far more than the $16,000 sellers anticipated.

Outside, surprising few real estate professionals, buyers look most for a neat exterior and usable backyard space. Interestingly, while there is often an ‘indefinable something’ that makes any home become the ‘dream home’ in the eyes of a particular buyer, the survey revealed that, in general, buyers estimated the value of a typical home at about $20,000 higher than their owners. That is good news in today’s market when it comes to pricing a property.

Written by Barbara Pronin
Copyright 2021 RISMedia
Photo by todd kent

Relocation • July 11, 2022

Dream destination: Florida

by Barbara Oskam

July 6th 2022

New Coldwell Banker Data Shows High Rate of Out-of-State Searches

This summer, as Americans enjoy their favorite activities to cool down, dreams of moving are heating up. Fresh data from the Move Meter^SM on the refreshed website coldwellbanker.com shows trends and insights into where Americans are dreaming of moving, giving sellers an informative, clear picture about the potential of listing their homes. In fact, 82% of all Move Meter℠ searches to date were looking to move out of state.

The Move Meter℠ compares cost of living city by city. It was created by Coldwell Banker Real Estate as part of a suite of industry exclusive tools to allow consumers to dream of home and guide them to their new destination. In addition to the Move Meter, Coldwell Banker has created the ultimate destination for home sellers at coldwellbanker.com, with industry exclusive tools like the CB Estimate℠, which provides a home value estimate, and a remarkable new Seller’s Assurance Program.

Americans are on the Move (Meter)

Going the distance: The average Move Meter℠ search covered 1,015 average miles (about the distance of New York to Miami).
- Eighty-two percent (82%) of all Move Meter℠ searches were looking to move out of state.
- On the flip side, Massachusetts had the greatest proportion of searchers considering staying in-state, with 40% of all searches from Massachusetts looking to stay loyal to the Commonwealth.
- Only about 13% of all searches were looking within a driving distance of 100-miles from their origin destination with the highest proportion of moves being somewhere between 500 to 1,500 miles away (42%).
Chasing Sunshine: While Midwesterners and Northeasterners are looking for warmer temps in the Southeast (38% vs 46%), Southeasterners, Southwesterners and Westerners all had higher likelihoods of staying local to their respective regions.

Americans are dreaming of moving – but where to?

Southern Charm: Austin, Texas, topped the chart as the most searched destination to move to, and had 46% more searches than the next closest destination. The top locale dreaming about moving to Austin is San Diego, California. So how does the move stack up? According to the Move Meter℠, the move from San Diego to Austin could be a smart move if you value job market strength.
California Dreamin’: 20% of searches from California were looking to stay in the Golden State. The top in-state searches looking to move somewhere else within California were from San Diego, San Francisco and Bakersfield.
- And for those looking outside of California, where were they dreaming about? Californians are looking to Texas, Florida, Tennessee and Washington overall, with Austin, Dallas, Seattle and Nashville having the greatest move appeal outside of California.
Burnin’ Up for Florida: The #1 state topping the Move Meter℠ interest index was Florida with one out of seven of all Move Meter℠ searches looking to move to the Sunshine State.
- The top states looking to soak up the Florida sun included New Jersey, California, New York, Illinois, Ohio and Massachusetts. Where in Florida are these searchers looking? Sarasota, Miami, Naples, and Tampa were the most popular searched cities.
- Floridians don’t disagree – they, too, see the appeal, as they were one of the top states searching for destinations within the state as well, with a quarter of Floridian searches looking to stay in-state.
- The other top states Floridians are searching was North Carolina and Tennessee.
Destination Dreams: The top 10 searched cities included Austin; Sarasota, Florida; San Diego; Denver; Nashville, Tennessee; Tampa, Florida; New York; Naples, Florida; Charlotte, North Carolina; and Seattle.

With a network of over 100,000 agents across the globe, Coldwell Banker has affiliated agents in nearly every market in the United States. So, no matter where searchers are looking, a Coldwell Banker affiliated agent can help make the dream come true. Home sellers and buyers can visit coldwellbanker.com to find an agent and prepare for their next move to their dream home using the coldwellbanker.com/movemeter.

QUOTES:

“Our new Move Meter℠ tool provides insights into where American’s are looking to make their dream moves. Since 1906, Coldwell Banker has served as the leading innovator in real estate, with agents in nearly every market in the US, we provide the tools and the resources sellers need to help make their dreams come true, wherever their search takes them. If you’re looking to make that big move – let our Coldwell Banker agents guide you there.”

Ryan Gorman, CEO of Coldwell Banker Real Estate LLC

“Through the new tools on coldwellbanker.com, we’re seeing a strong interest and desire in Americans and homeowners to take a leap of faith and relocate to live in their dream destinations this summer. The Coldwell Banker Move Meter℠ provides sellers with the support and tools they need to make those dreams become a reality.”

David Marine, CMO of Coldwell Banker Real Estate LLC

About Coldwell Banker Real Estate LLC

Powered by its network of over 100,000 affiliated sales professionals in approximately 2,200 offices across 40 countries and territories, the Coldwell Banker^® organization is a leading provider of full-service residential and commercial real estate brokerage services. The Coldwell Banker brand prides itself on its history of expertise, honesty and an empowering culture of excellence since its beginnings in 1906. Coldwell Banker Real Estate is committed to providing its network of sales professionals with the tools and insights needed to excel in today’s marketplace and is known for its bold leadership and dedication to driving the industry forward. The brand was named among the 2022 Women’s Choice Award^® Most Recommended brands for customer experience and overall quality. Blue is bold and the integrity and values of Coldwell Banker give the Gen Blue network an unbeatable edge. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.

Written by Athena Snow (link)

real estate investing • July 8, 2022

7 Tips for Listing Your Home on Airbnb

by Barbara Oskam

If you’re a homeowner who loves to meet new people from around the world and likes to earn extra income, then become a host by listing your property for rent on Airbnb. The San Francisco-based company connects leisure and business travelers to short-term apartment, house and room rentals in more than 190 countries. Here are seven tips to becoming a winning host.

First Impressions Count

Get some great shots of your place to make your property stand out. Not experienced at photography? Airbnb will connect you with professional photographers in your area and even help with uploading the photos to your listing. When guests arrive, have a binder available with info on the house rules, Wi-Fi password, local restaurants and attractions. Provide extra linens, toilet paper and trash bags for a comfortable stay, and include items such as a hair dryer, iron, coffee maker, microwave, dishes, utensils, pots and pans.

Set an Appropriate Price

Airbnb provides a suggested price based on the details of your listing and local rental pricing. For first-timers, Airbnb recommends starting below the suggested rate so you can attract guests and build up positive reviews.

Clean Sweep Reviews

Unless you’re ready to give your home the white-glove test on a regular basis, hire a professional cleaning service to stay on top of this task. Keeping your home spotless and linens freshly laundered will help you get rave reviews and outshine the competition – anything less may derail your Airbnb biz.

Play It Safe

Go keyless with digital locks, allowing you to create a personalized code for each guest. This also translates to a faster check-in/checkout process, no lost keys, plus remote host access and rental options. And secure the proper home insurance, or check out Airbnb’s Host Protection Insurance program.

Screen Guests

Get to know your guests by reading reviews of them on the Airbnb site and messaging them via the platform. Although there have been stories about renters damaging apartments or homes, most are respectful houseguests.

Always Be Prepared

You never know when foul weather or emergencies will make an unexpected appearance, so take precautions and place a fire extinguisher in an easy-to-find spot, install fire alarms and carbon monoxide detectors on every floor and include a first-aid kit in the bathroom. If you’re located in a cold-weather region, have shovels and ice melt ready. Keep a flashlight, weather radio and nonperishable food in stock. Then rest easy.

Guest Extras

Anticipate your guests’ needs. If you live near the beach, provide beach chairs, boogie boards and a cooler. For a lakeside home, offer outdoor seating, lighting and a firepit. Leave a welcoming touch, whether that’s a bottle of wine or a basket of crackers, cheese and chocolates – a thoughtful gift will be appreciated.

If Airbnb is in your plans, follow these steps to be better prepared and become a five-star host right from the start.

Written by Jennifer McGuire (see link)

Home decor • July 6, 2022

Make the Most of Your Outdoor Space

by Barbara Oskam

We all want to spend as much time as we can outside during the summer months. There’s nothing quite like a relaxing summer day in the backyard with friends, hosting a barbeque or enjoying an evening under the stars around the firepit. Summer is made for chilling and breathing in the fresh air and just unwinding after a long day. So this month, ramp up your outdoor space and bring your indoor style right to your backyard.

Bonus Living Spaces
More and more, people are treating their backyard spaces as an extension of their living space. From outdoor pergolas to string lights, trendy rugs and comfy, weatherproof sectionals and lounge chairs, homeowners are creating stunning open-air outdoor living spaces. You don’t even have to have a huge space, you can add smaller pieces to your deck or patio to create a relaxing, cozy sanctuary. Whatever your indoor style is, you’re sure to find similar outdoor pieces.

Inspirational Botanicals
The right plants, flowers and planters can make all the difference when it comes to creating a warm, inviting and colorful outdoor space. With so many stylish planters available, you can easily find ones that match your style and fill them with a variety of herbs, flowering annuals, cactuses, plants and shrubs. If you live close to a farmers’ market, be sure and check them out as they typically have a huge variety of cost-effective flowers, plants and herbs to fill your yard, patio or balcony.

Small Space Solutions
There are tons of creative ways to transform a small space and make a big impact. Start with some lively décor, potted plants, outdoor pillows, candles and small scale furniture. Consider a vertical garden where you can plant your favorite herbs and vegetables. Adding string and solar lights can also help make a space feel extra cozy. And when it comes to furniture, think about a bistro set for casual dining, foldable and stackable chairs or a small loveseat and ottoman. There are tons of creative ways to make a big impact in a smaller space.

If you’re limited on outdoor space, don’t let that stop you from creating the perfect outdoor oasis. Infusing your personality and style to your backyard, balcony or back porch is the perfect way to gain more living space and enjoy a place where you can enjoy more fun in the sun all summer long.

Have a great summer!

Written by Jennifer McGuire

(see link)