1. Did you know Amazon Is Selling a DIY Backyard Guest House that You Can Build in 8 Hours? People Magazine says, “Those looking for some extra space and a very hands-on DIY project, may want to check out the Allwood Solvolla Studio Cabin Kit, currently for sale on Amazon.” Hold it! I just checked, they are currently out of stock, but they have others to choose from. Now you have something else you can do this weekend!
2. UPSIDE DOWN
Young Real Estate Flippers Get Their First Taste of Losing. “A new crop of flippers, inspired by HGTV reality shows, real estate meetup groups, and get-rich gurus, piled into the market in recent years as rapid price gains helped the last property crash fade from memory.” Bloomberg Businessweek tells one story of a 27-year-old who lost a significant amount of money on a flip. He’s 27, better to make those mistakes now, than 10 years from now. He’s learned a great deal and if he has the fortitude, those experiences can launch him into the stratosphere!
3. CANADIAN CLUB
$5 billion laundered through B.C. real estate, inflating home prices: report. The Vancouver Sun has uncovered several money laundering stories. One, in particular, is about “A “homemaker” bought five luxury homes worth $21 million between 2014 and 2017, with one mortgage. Another “homemaker” bought a dozen downtown town row houses for $4.1 million (now worth $15 million) between 2004 and 2007.” Government officials state these activities will create an average increase in home prices of 5% in the Province, but higher increases will be reflected in some of the more populated areas.
4. BUY IT BUTTON
Redfin quietly launched a new feature that lets homebuyers without an agent make offers on homes directly through its website, bringing back an initiative the company first tried more than a decade ago. They tried this feature over a decade ago but had a significantly lower listing inventory then. Ultimately it’s a number’s game. Some buyers will answer the 55 questions it will take to make an offer but CEO “Kelman doesn’t see the program expanding to a large majority of its listings — most buyers will still want and need an agent — it creates another way for people to buy homes,” states GeekWire.
5. SHAME-LESS AMERICAN
The Pew Research Center reports “More and more Americans are opting to live together. Compared to just 12% in 1980, the trend has been on a strong upward swing, with 20%, or 64 million Americans, living with two or more adult generations in a single household.” Having spent significant time in Europe, I’ve become very comfortable with these very normal living arrangements. It was a confirming to read the Fast Company article; The future of housing looks nothing like today’s.
6. LUCKY SEVEN
I spoke with one of our top agents last week who reported getting 18 or 19 offers on one of her listings. “Offering over asking price on a house often makes buyers wince. But let’s face it, paying above list price is just a reality in certain circumstances—at least if you really have any hopes of getting that house!” Realtor.com suggests 7 Times to Offer Over Asking Price on a House—or Else You May Lose Out.
7. TELL ALL
“Business Insider surveyed real-estate agents around the country about what it’s really like working in their industry.” Here are 10 things real-estate agents wish they could tell their clients, from how much money they really make to “your home isn’t selling because you have no taste. Can you relate?
8. A LONGER HAUL
“Prior to the Great Recession, from the first quarter of 2000 to the third quarter of 2007, homeownership tenure averaged just 4.21 years. Homeowners who stay longer, however, are seeing higher gains at resale.” Realtor Magazine states Average Homeowners Stay 8 Years Before Moving. Click the link to see the graph. Can you guess what year folks started to stay in their homes a little longer?
9. NEST SEEKERS
“According to the latest from the National Association of Home Builders, builder confidence in the 55+ market reached 76 in the first quarter of 2019 – up six points from the previous quarter and the highest score since the index started more than a decade ago.” Housing Wire wrote this week, The 55+ housing market is booming. They are out there shopping and builders have gained some confidence as this part of the sector as it reaches a new high.
10. RISQUE MARKETING
Have you seen this? The Guardian reports this Viral real estate video pays off as Sydney home sells for $1.7M. “In it, a couple – at least one of whom was not in the wedding pictures on the wall – dance their way through the house, leap onto benchtops, twirl through the dining room, and attempt to swim, before jumping into bed.” It appears the buyer fell in love with the house and paid top dollar for it after seeing the viral video. Click the link above if you dare…