Millennials In the Market 2

Millennials part 2

Right now millennials are the biggest group of home buyers in the country, but they have some serious competition the baby boomers.  The real estate market has become a generational war zone and baby boomers aren’t fighting fair, at least according to the millennials their not.  With Baby boomers retiring in great numbers most are looking to down size from larger more suburban homes to small homes closer to or in the city.  They are looking for convince and amenities within walking distance.  Now that the economy is head upward millennials are now making enough to move out of mom and dads basement or trade in the four roommates they have for none and buy their own home.  Great news except guess what they are looking for?  You guessed it smaller homes near or in the city with in walking distance of most amenities.    

Millennials being the socially connected, environmentally conscious group they are want to buy existing homes.  They love the history, location or architectural detail and they are usually close to downtown.  Guess who else loves all those things?  You guessed it baby boomers.  Baby boomers love history and being that most of them are retiring they are looking for something with a few projects they can work on to fill their days.

Why is any of this unfair you ask.  Well it comes down to two things that baby boomers have that millennial don’t experience and money.  Baby boomer Know how to negotiate to get what they want and being that according to NAR survey, only 3 percent of agents are under 30,and 81 percent were older than 45 Baby boomers are able to relate to and work with their agents a lot better.  Millennials who do business very differently now don’t really have the tools to negotiate.  And of course there is the money issue.  “Boomers will pay a premium if you can give them exactly what they want,” said Matt Robinson, principal at MRP Realty.  “Something closer to what was in their house, and that pushes up the price; they’re happy to pay for it.”  Many millennials are not well suited to compete being that most of them entered the market in the middle of the recession and during the lackluster recovery few have had time to build any real wealth.

This War of generations is driving up prices on not only starter homes and condos but rental prices too.  It is also cause a shortage of properties which is starting to concern most real estate agents.  Real estate agents have to start learning how to better work with millennials in order to stop the War but that’s a subject for another blog.

Cynthia Schmier, Broker/Owner
CRS, CDPE, CNE, CIAS, MDI, 5-STAR, SRS
RE/MAX Country
Cynthia@Cynthia-Online.com
(360) 400-3475
www.cynthia-online.com

Millennials in the Market.

Millennials

For quite awhile now Baby boomers have dominated or shaped the cultural and economic landscape in which we live.  With baby boomers beginning to retire in large numbers, and shrinking numbers as they age, there is a new economic driver at play – Millennials. 

Millennials are a socially connected, environmentally conscious group.  They value individuality within the larger society but also want their choices in life to positively impact the world around them.  Members of this socially active generation want to live close to where they work and play.  This is pushing some new trends in real estate and how agents deal with their clients.

Projects incorporating retail, office and residential options into one compact area or building will continue to trend upward as developers cater to millennials lifestyles and demands for high end amenities.  More and more developments are offering ground floor retail combined with apartments or lofts above that also offer amazing amenities such as rooftop pools and cabanas with coffee and wine bars, or gated dog parks and outdoor kitchens. 

Another trend is the 18 hour city.  This trend focuses on the increased development of urban centers, rather than their surrounding suburbs.  This is often described as the shrinking donut, and is closely connected to the changing lifestyles generated by millennials.  This trend also reflects the retiring baby boomers who are downsizing putting them in direct competition with millennials for real estate, but that is a topic for another blog.  These 18 hour cities are rewarding developers for focusing on preexisting infrastructure.  Often, the history, location, or architectural details of a downtown building provide the amenities and sense of place millennials seek.  

The last trend is the flood of investment capital into the U.S. as well as an uptick in crowd funding.  Most foreign investment has been concentrated in major US metro markets, but it is quickly starting to flow to small metro areas to develop smaller more historic cities.  Crowd funding is also playing a big role in this trend by allowing millennials themselves to invest in the area they want to live with out having to be a millionaire in order to invest.  

These are just a few of the ways millennials are affecting real estate.  They are having profound effects on the market.  Weather you like or dislike the trends with, over 80 million millennials its not going anywhere anytime soon.

Cynthia Schmier, Broker/Owner
CRS, CDPE, CNE, CIAS, MDI, 5-STAR, SRS
RE/MAX Country
Cynthia@Cynthia-Online.com
(360) 400-3475
www.cynthia-online.com

Flowers Everywhere

Early Spring in The Garden

Here are a few tips to help you get a head start on your spring gardening:

• Finish up your seed and plant orders.

• Keep an eye on houseplant pests.

• Get your garden tools in order and your mower back in shape.

• Prune trees and shrubs, both ornamentals and fruit.

• Use an acid-type rhododendron, azaleas and camellias

• Use an all-purpose fertilizer to feed roses and other deciduous trees and shrubs.  If using dry-type fertilizers, water them in thoroughly.

• Check flower beds for plants that may have heaved.

• Cut some branches for forcing indoors.

• Rejuvenate holly bushes with a hard pruning.

• Check evergreens for signs of desiccation.

• Start seeds of cool-season vegetables and flowers.

• Start to rejuvenate annual flower beds.

• Harvest winter crops before they bolt.

• Trim back any branches that were damaged by the ravages of winter.

• Apply dormant oil fruit spray.

• Take notes and buy some shrubs and trees that you would like to see in your winter garden next season.

For more information on Gardening please go to http://gardening.about.com

Thank you CW title and Escrow for the Tips

Cynthia Schmier, Broker/Owner
CRS, CDPE, CNE, CIAS, MDI, 5-STAR, SRS
RE/MAX Country
Cynthia@Cynthia-Online.com
(360) 400-3475
www.cynthia-online.com

Home Inspections!

The Big I Word.  Inspection DUN DUN DUNNNN

Home inspections are a big deal for everyone and although there are buyers that choose not to have an inspection done it’s not a good idea.  Even if you’re buying new construction you should have an inspection, builders and contractors make mistakes too. I can hear you asking the questions now. So what exactly does a home inspector do? Why do I need a home inspection? What do I do with the report once it’s done? What should I look out for when hiring an inspector?  All good questions and I am going to try and address them briefly in this blog.  First off, home inspectors are not required to be licensed in many states; however inspectors can be certified by a home trade association such as National Association of Certified Home Inspectors.  You also want to make sure they have a toxic and pest License.  There is specific license required to identify pests like rodents and mold, and toxic elements in your house such as asbestos, lead , radiation.  When hiring defiantly do your homework.  This is your future home now is not the time to skimp.  Some things to beware of are inspectors that say “I can repair that for you.” I would avoid any inspector who is advertising his repair service in conjunction with his inspection service. As a matter of fact in some states they are not allowed to work on a home for a year after inspecting it.  The other thing to look out for is an agent push one inspector over others.  It is one thing to recommend it’s another to require you to use their inspector. Again make sure you do your homework. 

Some of the things the inspector will check are:

Structural Elements, like walls, ceilings, floor, roof and foundation.

Exterior Evaluation such as wall covering, landscaping, grading, elevation, drainage, driveways, fence, sidewalks, fascia, trim, doors, windows, lights and exterior receptacles.

Roof and Attic, framing, ventilation, type of roof construction flashing and gutters.

Plumbing including identification of pipe materials used for potable, drain, waste and vent pipes. Toilets, showers, sinks, faucets and traps.

Systems and Components like water heaters, furnaces, air conditioning, duck work, chimney, fireplace and sprinklers.

Electrical main panel, circuit breakers, types of wiring, grounding, exhaust fans, receptacles, ceiling fans and lighting fixtures.

Appliances such as dishwasher, range and oven, built-in microwaves, garbage disposal and yes even smoke detectors.

Garage including slab, wals, ceiling, vents, entry, firwall, garage door, openers, lights, and roof.

Once the inspection is done you will receive a report.  If you hired an inspector worth his salt the report should note every item that’s defective or needing service. At this point you have some decisions to make?  How many and how sever are the repairs that need to be made.  Are you going to ask the seller to make the repairs or walk away from this home? Are the repairs minor enough that you will buy the home anyway and make the repairs yourself?  If there are major repairs that need to be made it is not a bad idea to hire a contractor and get an estimate. 

Remember no house is perfect no matter how well maintained or new it is.  Every home will have issues flagged even new homes.  Good Luck and Good Fiday.

Cynthia Schmier, Broker/Owner
CRS, CDPE, CNE, CIAS, MDI, 5-STAR, SRS
RE/MAX Country
Cynthia@Cynthia-Online.com
(360) 400-3475
www.cynthia-online.com

402 Easy St SE Rainier, WA 98576

Property Site: http://tour.circlepix.com/home/4Z4Q6M

Opportunity knocks! Spacious home on large lot. Covered porch w/stone accents welcomes you home. Tile entry. Gorgeous laminate flooring throughout Formal Living & Dining area. Kitchen features cherry cabinets, Stainless appliances, large walk-in pantry & breakfast nook. Sizable Master Suite w/walk-in closet & private bath. All rooms are substantially sized! Family rm on landing w/additional office/den with door. Over-sized back yard w/patio. Located on quiet street w/short commute to JBLM.

Bedrooms: 3

Bathrooms: 2.25

Square feet: 3,054

Price: $269,000

For more information about this property, please contact Cynthia Schmier at (360)400-3475 or cschmier@remax.net. You can also text 3345176 to 67299.

See more listings at: cschmier.remax-pacificnorthwest.com

MLS ID: 892542

11302 Paradiso Lane SE Yelm, WA 98597

Property Site: http://tour.circlepix.com/home/HYWCB4

Gorgeous Rambler on groomed 1 acre parcel. Open space concept with vaulted ceilings creating a light & airy home. Formal Living & Dining rms. Spacious Kitchen with eating bar & breakfast nook w/ bay window. Well appointed Master Suite with walk-in closet, tile walk-in shower & large double sink vanity. Energy efficient heat pump. The perfect outdoor entertaining area with in-ground heated Salt water pool, patio & outdoor fire pit. Park-like setting! Close to all amenities. Easy commute to JBLM.

Bedrooms: 3

Bathrooms: 2.25

Square feet: 2,546

Price: $369,000

For more information about this property, please contact Cynthia Schmier at (360)400-3475 or cschmier@remax.net. You can also text 3342618 to 67299.

See more listings at: cschmier.remax-pacificnorthwest.com

MLS ID: 895430

15717 Garden Acres Lane SE Yelm, WA 98597

Property Site: http://tour.circlepix.com/home/YM7DEC

Equestrian dream! Completely fenced & cross fenced w/6 paddocks, riding pen, pole barn, shop & loafing sheds. Spacious rambler w/over-sized rooms. Open kitchn. Granite counters thru-out. Wainscoting & bench rail. Vaulted ceilings. Family, Living, Dining, office/den/bonus rm. Wood stove & heat pump. 2 hot water tanks! Deck w/covered hot tub. RV parking. Mature landscaping w/water feature. Garden space, grape vines & fruit trees. Forest w/trail system. You simply have to see it!

Bedrooms: 3

Bathrooms: 2.50

Square feet: 2,248

Price: $355,000

For more information about this property, please contact Cynthia Schmier at (360)400-3475 or cschmier@remax.net. You can also text 3340710 to 67299.

See more listings at: cschmier.remax-pacificnorthwest.com

MLS ID: 895155