Yes, it's true what you are reading in the news. It is currently a Seller's market, and we've been very busy here at CENTURY 21 Ocean listing new properties and putting them under contract quickly. See below for more updates on some of the trends we are seeing. We aren't sure what the real estate market will look like for the long term and if the growth of aerospace industries and population growth in a coastal, mountain, and rural areas will offset a downturn when we do eventually see one. Of note from economist Lawrence Yun whom I respect: "New listings and new-home construction are urgently needed. Home-buyers want to lock in record-low mortgage rates. They know that in five years or so, consumer prices could accelerate due to the government's massive "printing" of money. Higher prices for food, tuition, heal care, rents, and real estate are inevitable. The only significant expenses holding steady are fixed-rate mortgage payments."
Did you know that there are more human slaves now than at any time in recorded history? I will be doing a 3-day 39-mile hike at the beginning of August in the in the Chugach State Park of Alaska, outside of Anchorage. We will pack in all supplies (including bear spray ~ eeeeek!), staying in cabins at night along the trail. Chugach State Park covers nearly a half-million acres and has multiple access points from Girdwood to Chugiak. Human trafficking is the fastest-growing criminal enterprise in the world, and we are determined to do something about it! I hope you will consider supporting us as we come together and hike for FREEDOM! We are partnering with Rescue Freedom International because we love the work they are doing around the world to bring hope and healing to those in slavery. We have the gift of living free and want to use that gift to set people free! We are doing what we love, to fight what we hate.
What Will Homes Look Like In A Post-pandemic World?
A lot has changed in just a few months, and for many that includes the idea of what a 'dream home' looks like. Not long ago, buyers were showing preference toward smaller homes and open concept spaces conducive to gathering. After a few months cooped up inside, those features don't seem so appealing - and developers have taken note. "While the coronavirus still rages on, it's hard to predict what post-pandemic abodes might look like," according to Barrons.
"Yet, developers around the U.S. are already rethinking projects, anticipating residents' needs and preferences that Covid-19 would spur. In doing so, they are re-evaluating current in-unit aesthetics and in-demand amenities."
Here are just a few areas of home design where trends may shift in the coming years:
Homes had been trending smaller, but that may be over. With so many families spending (way) more time around the home lately, there's never been more need for personal space. Expect homes to grow in size accordingly.
Prioritizing the home office:
As more and more businesses relax work-from-home policies, or shift to full-time remote work entirely, the home office will become a near-essential for many buyers. A space that was once an after-thought now will need to offer privacy, good lighting and be pre-wired for telecommuting.
Return to the closed-floor plan:
For some buyers, the appeal of the open-floor plan was already trending down prior to 2020, and the past few months have only made the reasons why more evident. Sharing more time and space at home demands privacy for school work, hobbies, and entertainment. With more meals being cooked at home, an open concept kitchen becomes noisy epicenter practically all day long. Builders expect a rise in demand for closed floor plans, where rooms are partitioned for purpose.
This is already one of the fastest growing trends in home design, but smart home technology will soon move from a 'plus' to a 'must'. Temperature and lighting control can now be voice or motion-activated. Touch-less faucets, once thought superfluous, are now an inexpensive and health-conscious upgrade. Systems that filter air and monitor air quality will become more common and affordable.
As trained real estate professionals, we can help you get the results you want. From the very beginning, we will work together to define your needs and develop a plan for achieving your real estate goals. Throughout the process, we’ll keep those goals and your best interests in mind, and we’ll work hard to make sure all of your expectations are met. We won’t give up until the job is done to your satisfaction. When we work together, you can expect nothing less than the best. We have a history of satisfied customers, and I hope you’ll be next.