The
latest indications that we have seen the end of the sagging real estate market
has started many Long Beach & Lakewood homeowners thinking
it may be time to sell.
For those who are wondering if the long recession has
altered how people look for homes – and if so, in what ways – I have noticed a couple of new trends.
As
before, the first stop for most potential buyers is the Long Beach & Lakewood MLS listings. When you compare the language and features
most prominent there, huge changes do not leap out. But a comparison with
former language does reveal something of a shift in emphasis: many details that
highlight opulence (to some, excess) are being replaced by features much more
in tune with practicality and efficiency (to some, frugality). You would expect
that, since consumer confidence is still less than robust.
The
trend to open floor plans is nothing new: fewer walls; more living is an
idea many buyers embrace. The more casual “great room” is almost always more
desirable to today’s buyer than the formal living and dining rooms of 30 years
ago.
As
the baby-boomer generation grows older, issues of accessibility and mobility
become more important. Long Beach & Lakewood MLS listings that boast easy-access showers,
baths, bedrooms and kitchens are highly desired and sought after by buyers in
that populous group. Such listings signal a home already equipped for easy
access -- meaning no extra dollars will be needed for retrofitting the
property. Even for those who have no immediate need for those features,
eliminating a future expense (even if it seems a distant concern) can be
attractive.
Prominence
is growing for features that relate to extra living space. The demographic
reasons are clear: in-law apartments or bachelor studios have added value for
families whose children may have to move back in with them (the “boomerang” effect). Since such units may be rented for extra
income in tough times, they bring an added element of financial security. Large garages fall into this category as well
(but no longer for that brand-new Hummer!)
Today’s MLS listings featuring an extra large garage are viewed as
desirable by Long Beach & Lakewood buyers looking to convert
it into extra usable space: man-cave, gym, extra storage, or, increasingly,
home office space.
Today’s
home buyer seems considerably more environmentally conscious than before;
homes that feature solar panels, green toilets or other water-efficient
plumbing, and radiant light windows are increasingly desirable. This may be due
to a growing social responsibility ... but I’d be willing to bet that reduced utility bills
can’t be far behind. As a result, green technology features are working their
way up in the MLS listings.
If
you are looking to buy or sell a home in Long Beach or Lakewood ...
and would like to see for yourself where the latest trends are pointing, just give me a call!
As always, I’m here for all your real estate
needs.
HAPPY LABOR DAY ...
HAPPY LABOR DAY ...
