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February 2015 Edition

The Millennial Generation
Watching the Trends…

 

Did you know that more than HALF the world's population is under the age of 25?  

Born between 1978 and 2000, the Millennial Generation, also known as Generation Y, or Gen Y, currently numbers more than 95 million people and statistics show that there will be more than 100 million by 2016.

Here are just a few eye-opening numbers from the National Association of Realtors®:

- Gen Y comprises the largest share of home buyers at 31 percent, followed by Gen X at 30 percent, and both Younger (16 percent) and Older Boomers (14 percent) at 30 percent. The Silent Generation has the smallest share of home buyers at nine percent.

- Gen Y has the largest share of first-time buyers at 76 percent. The share of first-time buyers declines as age increases. Among the Silent Generation only two percent of buyers are first-time buyers.

- More than half of Gen Y and Gen X buyers used a mobile device during their home search. Among those who did, 26 percent of Gen Y and 22 percent of Gen X found the home they ultimately purchased via a mobile device.

- Younger buyers were predominately referred to their agent through a friend, neighbor, or relative, while older buyers were more likely to use an agent again that they previously used to buy or sell a home.

- Overall 88 percent of recent buyers financed their home purchase. Nearly all (97 percent) of Gen Y buyers financed compared to just 55 percent of Silent Generation buyers.

- Functionality and lifestyle take precedence over size and property amenities for Millennials.

- More than 70% of Millennials polled in study say they'd like to purchase a home.

What's great to see is how each generation continues to connect in new and exciting ways. From those in the Silent Generation and Boomer eras to our Gen X and Gen Y friends, we all have much to BOTH teach and learn from each other.

As your real estate professional, I make it my job to have the tools to help EVERY generation of home buyer and seller make the most of their investments.

Call me today to learn more!

 

Show Your Home A Little Love                                                                                                               Love is in the air this month, and while chocolates and flowers are still the main staple this Valentine's Day, let's not forget that "home is where the heart is!" This year, why not consider a few inexpensive but wonderfully creative ways to update your home with a little love! Tiny details and quick fixes can bring new rooms to life & make you smile. 

Let's take a look at four little ways you can add a new look to your home:

Paint Your Front Door:  Consider a vibrant red or hunter green and add a touch of bold to warm your front entryway and increase your curb appeal. All it takes is a gallon of paint, a little elbow grease and a steady hand and your house will take on a whole new look! Get a good quality exterior latex which will run you somewhere between $20-$35 per gallon.

Make Your Mark:  Chalkboard paint is a fun, creative way to make your mark in your home.  A child's bedroom door can be an extraordinary art easel! A wall or cabinet panel in your kitchen can be your communication command post or take on the air of an old Italian cafe'; by posting the menu for the day. Check your home improvement store shelves for this crafty paint choice or choose the "peel and stick" variety of wall coverings that you just press on and can peel off later! A quart of the paint will run you somewhere in the neighborhood of $10-15 and the peel and stick variety anywhere from $19 on up.

Get a Handle On It:  Changing a room's mood and look can sometimes be as simple as changing out the hardware. Pretty pull drawers and new knobs can change a kitchen from boring to beautiful, or a bathroom from plain to perfect! The varieties are endless and come in prices that range from a couple dollars to the sky's the limit. And the possibilities? Just fun to consider!  

Let there be light:  Under-cabinet lighting makes a shiny debut in kitchens; lighting the way for your culinary creations. Easy to install, do it yourself strip lights usually run under $50, but more elaborate varieties are also available.
 
There are a million little ways you can dress up or change the look of your home. Get creative, get crafty and have fun making memories with these do-it-yourself projects!  


Real Estate Outlook ~  Buy? Sell? Wait?   

Our markets have certainly run the gamut in recent years and it's tough sometimes for consumers to keep pace with the trends to know how timing can and will affect their home buying and selling decisions.  

Interested in buying?  When the interest rates are low and prices have bottomed out, you'll find the very peak time for the best buying deals. Financing is critical, so make sure that you have a handle on that credit score and a history of steady work. I'm happy to put you in touch with a qualified mortgage professional who can tell you exactly how much you qualify for and what you'll need to buy now!

Interested in selling?  When home prices are peaking and the market has stabilized, it's a good time to sell your home. Even in a buyer's market, it's a great time for consumers interested in the "move-up" market, or buying the next size home. What you may lose on the sale of one house, you usually more than make up for in the purchase of a new home. Call me today to find out just how much you could sell your home for in today's market.  

Still waiting?  Not sure if it's a good time to move, if you have enough for a down payment, or just want to weigh all your options? No problem. I can help you anytime to better understand where you are in terms of market conditions, price analysis, and buying power. I'm a resource you can trust!  

 
Warm Regards,

 

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Direct: (508)365-3824    Email:KPough@kw.com    Web: www.SellNowWithKelly.Realtor
     

If you have a brokerage relationship with another Agency or Agent, this is not intended as a solicitation.