Real Estate & Community News

Sept. 25, 2020

Are Millennials Renting or Buying (And Why?)

 

The news is a bit conflicted when it comes to millennials and homeownership. One report says millennials prefer to rent, and can’t afford to buy homes even if they want to. The next day, you’ll see a statistic that millennials make up nearly 40% of homebuyers and are the fastest growing segment.

 

So which is true? The answer is both, and that’s a big reason it’s so confusing. About 1 in 3 millennials own a home by age 35, less than previous generations. But millennials are also the largest generation in the US as of 2019. When you’re talking about more than 70 million people,

 

Maybe the more important question is why are some millennials buying homes while others are happy to rent for life? Let’s look at some of the big factors at play.

 

Why millennials buy houses

The reasons to own a home haven’t changed that much. When you own your own home, you have more control over your living environment. Want to tear out a wall between two rooms to give yourself a nice big immersive gaming space? That’s a choice you’re allowed to make.

 

This can be beneficial even from a maintenance perspective. As a renter, you rely on the landlord to make repairs and maintain the property, but it’s on their schedule and to their standards. Homeowners foot the bill for their own repairs, true, but they also have more control over when and how those repairs are made, and by whom.

 

Stability is another big motivation toward homeownership. Rent prices can fluctuate even if you stay in the same place for many years, and it’s rare to sign leases for longer than a year. If the landlord decides to raise prices or sell their property, you can find yourself forced to pack up and find a new place to live. Changes in property tax values and home insurance rates can alter your monthly payment as a homeowner, but the mortgage and interest payments are fixed, and that home is yours until you decide to sell it.

 

Why millennials would rather rent

There is a portion of this generation that rents out of necessity, either because they can’t afford to save for a down payment or because they’d become “house poor” and unable to keep up with maintenance expenses. For others, though, renting is a choice—and that’s the biggest change in how this generation views its living environment.

 

More millennials than any other generation describe themselves as digital nomads. They’re not tied down to any one location by their work, and they don’t want a home tying them down, either.

 

Even for those in more traditional jobs, renting provides more flexibility. If you want to try out a new neighborhood in your city, you have that freedom. Those who prefer urban living can find apartments in cities where buying a home is prohibitively expensive. In some areas, buying a home means being further from restaurants, bars, and entertainment. It’s often as much a choice of convenience and lifestyle as it is a financial decision.

 

The bottom line

Predicting home buying trends is tricky in stable times, and there’s no telling how the current economic shifts will affect the housing market. While new home sales usually drop during a recession, a drop in mortgage rates and property value could make home ownership a viable option for more twenty- and thirty-somethings.

 

Based on the trends, it seems likely millennials will continue to make up more and more of the housing market as time moves forward. How that will affect the real estate market moving forward is something that’s yet to be seen.

 

This article brought to you by Karl Kennedy - Author of ProjectorTop.com

 

Posted in Real Estate News
Sept. 22, 2020

Pumpkin Patches & Corn Mazes Around The Area

Pumpkin patches, corn mazes: What's allowed in Seattle this fall amid COVID-19

 

 

It's the first day of fall and we're looking forward to celebrating the fall season! Although it may look a little different this year there are still some fun activities to participate in. Here is a great article that highlights the changes and what places are open this fall.

https://www.seattlepi.com/thingstodo/slideshow/seattle-pumpkin-patch-corn-maze-guidelines-covid-209335.php?fbclid=IwAR3hyd2mQA3_P7aaLUO-29aPJho6GyTtTWWW0O9KR0oohdAczssGrMENdGc

Posted in Community News
Sept. 18, 2020

North Bend Just Sold

Congratulations to our Buyers who just closed on this North Bend home. Wishing you many relaxing days looking at your gorgeous mountain views!

 

#bethghomes #justsold #northbendrealestate #seattlerealestate #mountsi #homebuyers #viewhome

Posted in Closed Homes
Sept. 16, 2020

Here’s Your Go-To Checklist for Post-Move Comfort

This article is brought to you by Katie Conroy with Advice Mine. You can visit her site at www.advicemine.com 

Moving across town or out of state can be equally daunting. There’s so much to do and arrange that it’s tough to go it alone. Fortunately, the checklist below can help you navigate everything from securing your new place to getting your driver’s license updated and finding a new favorite restaurant.

Prepare in Advance Whenever Possible

While some things will have to wait until you’ve put down roots in your new home, thinking ahead is ideal. Preparation can help eliminate plenty of logistic headaches.

       If you’re buying a home, know what to expect before you embark on the purchasing adventure.

       Learn about your neighborhood (and visit if possible) to see what stores, restaurants, and services are available.

       Use tools to gauge an area’s safety based on statistics and recent events.

Protect Your New Property (and Family)

Ideally, you’re moving to a safe and comfortable community with trustworthy neighbors. But safety at home goes beyond security cameras. Consider these resources for setting up your new place with all manner of protection.

       Swap your household locks as soon as you move in – or before you leave the property to pick up your second load of belongings.

       Once your Wi-Fi is connected, educate the whole family on digital security best practices while online.

       Add security lighting on the exterior of your home for visibility and to deter would-be criminals.

Update Your Household Documents

Moving to a new place means lots of paperwork. Here are the essential items you’ll need to manage as soon as you get settled in (and even before).

       Gather your family’s medical records so you’re ready to find a new doctor in advance of any emergencies.

       Be sure to locate the nearest DMV office to update your license and registration as soon as possible; many states require an update within 30 days of your move.

       Make a list of companies you do business with and make sure to follow their procedures to confirm your change of address.

While moving can be a hassle, having a plan in place can make for a smoother transition. By outlining a plan, prioritizing safety, and keeping track of your paperwork, you can settle into your new place with fewer worries. In no time, the stress of moving will be a thing of the past – and your new house will feel like home.

Photo via Pexels

Sept. 14, 2020

Just Sold in Belvidere!

Congratulations to our Sellers who got full price for their home in Belvidere!

#bethghomes #fullpriceoffer #homesellers #seattlerealestate #tacomarealestate #belviderewestseattle #belvidereneighborhood #congratulations

 

Beautiful 3BR/1.75BA home, high above the street, with great natural light. Oversized picture window offers peaceful sunrises over the mountains, and partial views of the city & port. Fully remodeled kitchen, including designer cabinets & quartz counters. Newer sewer, flooring & windows. Huge attic for storage or room to expand. Covered front & back porches, detached garage plus large carport, private backyard. Rare corner lot on quiet dead end street. Highly rated schools.

 

 

 

Posted in Closed Homes
Sept. 10, 2020

When Is The Best Time To Purchase A Home

This article was brought to you by Karl Kennedy - Author of ProjectorTop.com

 

When renters decide it’s time to buy a home they’re often ready to start looking the same day. There’s nothing wrong with contacting a realtor immediately. Almost always you’ll find at least a couple of homes on the market that meets most of your criteria.

However, what you might not realize is when you start looking for a home there are times that are better than others.

Summer and Fall Home Shopping

 

The real estate market is generally flooded with potential homebuyers in the spring and early summer. This means that it’s a sellers’ market and this isn’t always a good thing for buyers. Home prices during this time are generally set at the property’s value and can go higher if buyers get locked into a bidding war.

The real estate market typically turns to the buyer’s advantage in late summer and fall. There are still plenty of properties for sale, only fewer potential buyers. The sellers are more willing to reduce their asking prices. It’s not uncommon for buyers to find properties with one or more price reductions.

The properties aren’t being reduced due to problems with the home. Sellers are more eager to close the deal before colder weather arrives and potential buyers disappear until the spring.

These reductions can also help buyers afford homes that would have been out of their budget range in the spring.

The Best Day to Buy a House

 

For some buyers, their new home is a Christmas present. The best day, statistically, is December 26th. The day after Christmas is one of the slowest for sellers since very few people are looking for a home during the holidays.

This is also the day, buyers can see home prices below market value. In some cases, it can be as much as 1.3 percent which equals discounts in the thousands of dollars.

Other days buyers want to pay attention to are Mondays and Fridays. Sellers are also more likely to discount their properties below market value. However, mid-week home sales are typically at or close to the seller’s asking price.

Location Can Affect Price

 

Homes located in warmer climates often aren’t reduced in the late summer or fall since sellers aren’t afraid potential buyers will hibernate during the colder months. However, this doesn’t mean that there aren’t still deals available.

You might have to adjust your desired location and settle happily into another neighborhood. Zip codes do affect home prices and this is something that you will need to consider. A smaller home in a desirable neighborhood can cost more than a larger one located further outside the city.

The suburbs might be further away from the action in the city but sellers will often find that they get a little more for their money. Sometimes this can include a little more acreage, a backyard pool, or even projectors for home movie nights. (This buyer’s guide might be useful if you are thinking about purchasing projector for outdoors).

These bonuses might not have been on your list of things your new home must have but can be great surprises.

Conclusion

 

If getting a great bargain on a new home isn’t as important as having plenty to choose from, then it doesn’t matter when you start looking. If you are more interested in getting a good deal home buying in the late summer or fall is your best option.

Whenever you’re ready to look for your new home, we are here to help you find the right property.

Sept. 8, 2020

Just Sold in Fairmount!

 

Congratulations to our sellers who sold their beautiful home in West Seattle as well as the buyers who were represented by our fellow agent Cortney Greene. Wishing them many happy years in their new home!

 

#bethghomes #seattlerealestate #tacomarealestate #homesellers #homebuyers #congratulations #westseattlerealestate #closedhomes

Posted in Closed Homes
Sept. 2, 2020

Online Client Appreciation Event Winners!

We had so much fun at our online event yesterday. It was great to "see" everyone and congratulations again to all of the winners! 

#bethghomes #contestwinners #seattlerealestate #realestateevent #congratulations #andthewinnersare #weloveourclients #clientappreciation

Posted in Beth G Homes News
Sept. 1, 2020

Just Sold - Duplex in West Seattle

 

Congratulations to our seller who sold his duplex in West Seattle for above the listing price! 

#bethghomes #homesellers #seattlerealestate #westseattlerealestate #aboveaskingprice #tacomarealestate #realestateinvestment #realestateinvestors

206.462.4444 info@bethghomes.com

Posted in Closed Homes
Aug. 24, 2020

Just Sold in Des Moines!

Congratulations to our Buyer who just closed on a gorgeous remodeled home in Des Moines! 

#bethghomes #homebuyers #justsold #desmoinesrealestate #seattlerealestate #tacomarealestate #firsttimehomebuyer #closedhomes #congratulations 

For more information about the Des Moines real estate market call 206-462-4444 or email info@bethghomes.com

Posted in Closed Homes