Listing Courtesy of RE/MAX REALTY GROUP REHOBOTH
Last week, The Wall Street Journal made it official: they had a slow news day. It was February 11 (that was Wednesday) when they ran the feature story, "A Gender Gap in Real Estate."
This was something Milton house hunters (not to mention those hoping to attract their attention) could certainly appreciate: an article about what men and women consider "very important" when it comes to features in homes. Author Adam Bonislawski based his story on National Association of Realtors® survey information; the results pointed to some dissimilarities between what women and men look for.
Now, I’ve had a good deal of experience helping both men and women house hunters in Milton, so it didn’t come as a complete surprise that their priorities differ. For instance, I was not at all surprised about the contrasting emphases the two put on the importance of having a walk-in closet in the master bedroom. The only surprise was that it was the men who found it much more important (38%-29%)!
What about house hunters’ feelings about the importance of kitchen appliances being new? Same phenomenon: men 38%, women 29% (possibly because appliances are gadgets, and men like the newest gadgets). How important is it that a home be single level? The sexes reverse: Male house hunters think it is very important 18% of the time; women, 31%. I’d bet that within the 18% that are masculine we’d find a disproportionate number of stay-at-home dads.
House hunters registered a big gap when it comes to rating 9-foot or higher ceilings as very important. A miniscule 8% of females agreed, while nearly three times that many of their male counterparts thought so (21%).
One harder to guess feature would have been the desirability of a kitchen island. Nineteen percent of male house hunters found it very important, versus just 8% of the females. Does this mean women are tired of entertaining? Do they no longer consider their masculine counterparts capable of sous chef action? Or is it that more men are taking over the cooking duties?
I’d have to admit, I’m less than certain that these national averages are 100% reflective of what house hunters in Milton prefer. Yes, Milton men certainly value attics (13%) more than the ladies (7%)—they do tend to spend more time up there (but neither are terribly committed to that form of high living). Basements are preferred by close to equal numbers.
Being that these findings are sort of interesting (not fascinating, perhaps, but at least sort of interesting), you might be wondering why at the beginning I thought it was evidence that the WSJ was having a slow news day. It’s because of some tiny print at the bottom of a graph, which gave the date of the NAR survey—all the way back in 2013! More up-to-date is what we find unfolding for today’s Milton house hunters: give me a call to get the latest!
Whenever you are getting ready to buy or sell a residence, taking the temperature of the local housing market is part of how you prepare to engage. When Milton real estate prices are on the rise, bargain hunters know they’ll have to scramble. When Milton real estate prices are flat or on the downturn, spotting good value in the local listings is easier. A slow market means that those sellers who are impatient to move on will be willing to reduce their asking price. They will tend to “find the market” more quickly, rather than waiting it out.
Our Milton real estate prices are seldom in exact lockstep with the national market—but when it moves, the impact is felt sooner or later. Of all the national barometers that are out there, the pre-eminent one is the research done by under the Case-Shiller banner.
At the end of last month, the latest S&P/Case-Shiller Home Price Index again confirmed the uptrend we’ve been seeing for nearly 3 years now. No surprise there: nationally, residential real estate prices continued to rise at the moderate clip that we’ve grown accustomed to. The only standouts were in the 20-City Composite (the single month rise of .5% was the largest increase since July) and in Denver and Dallas—both of which have now actually surpassed the peaks registered at the height of the real estate price bubble (which might have Coloradans and Texans wondering if it was a bubble at all)…
But what was unusually interesting were some observations published at the end of the Case-Shiller report, in the Analysis section. It noted that the data marked the 34th consecutive month of year-over-year price gains, and that home real estate prices “continue to rise and outpace both inflation and wage gains.” It pointed out that, nationally, average residential real estate prices are within 10% of the “housing boom peak.” And then it came up with an insight that puts things in perspective in a way that hasn’t appeared elsewhere. This by S&P Dow Jones Index Chairman David Bitzer:
“A better sense of where home prices are can be seen by starting in January 2000, before the housing boom accelerated…”
Looking at inflation-adjusted numbers, the latest U.S. real estate prices as registered in the Index rose just a touch under 30% from January 2000 to February 2015. In other words, when you remove the whole statistical bulge—the “bubble” phenomenon—out of the picture, residential real estate prices have risen at an annual 1.7% rate. That’s real appreciation, adjusted for inflation. Slow—but “steady as she goes!”…and for the past three years or so, it’s more than doubled that long-term gain.
Milton homeowners whose stress levels went up and down with the extreme price rise and fall would have been a lot more comfortable had they just snoozed through the whole affair, confident that the long-term history of real estate demonstrates, as the name implies, just about the most ‘real’ investment you can make.
When you get ready to take a look at the residential market, I hope you will want to give me the first call. I’ll share the latest up-to-the-minute info on Milton real estate prices and activity that will put everything into meaningful perspective! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestate.com.