Buying A Home December 31, 2024

How a Buyer’s Agent Can Help You Find Your Dream Home

As the real estate market continues to evolve at a fast pace, it’s easy to feel overwhelmed when searching for your dream home. But one professional stands ready to simplify the process and find you the perfect property: a buyer’s agent.

Partnering with this licensed specialist offers many advantages, ensuring a positive experience and a successful outcome.

Local Market Knowledge

A buyer’s agent brings local expertise to the table, key to getting you into a home that meets your unique needs. They’ll know about area schools, amenities, public transportation options and other factors that may affect your day-to-day lifestyle. A buyer’s agent can also suggest up-and-coming communities you may not have considered, broadening your search and expanding your options.

Access to Exclusive Listings and Off-Market Properties

One of the greatest advantages of working with a buyer’s agent is their ability to leverage their professional connections to gain access to listings not readily available to the general public. In a competitive arena, this can give you a critical edge, allowing you to view homes before they are widely seen by other buyers.

Expert Guidance on Current Market Trends

In 2025, the real estate market will continue to experience shifts based on economic conditions, interest rates and local factors. A buyer’s agent has their finger on the pulse of these trends and can provide trusted insight into any fluctuations in price, availability and/or competition. They can also help gauge the future value of the property, based on neighborhood growth, planned developments and economic projections.

Negotiation Expertise

Negotiating your offer is an important step in the home-buying process, and having a buyer’s agent to advocate for your interests is crucial. A skilled buyer’s agent knows how to handle common obstacles such as appraisal gaps, inspection issues and seller concessions. If the seller is unwilling to lower the price, your agent may be able to negotiate for other favorable terms, such as covering closing costs, repairs and/or improvements.

Managing the Paperwork and Closing Process

To deliver a stress-free real estate experience, your buyer’s agent will guide you through the legal and financial documentation, making sure that all the necessary forms are completed correctly and submitted on time. They’ll help you understand the fine print, such as contingencies, timelines and financing terms, and will coordinate between the seller, the lender, inspectors and attorneys, streamlining the process and avoiding unnecessary delays.

From guiding you through market complexities to negotiating on your behalf, a buyer’s agent ensures that the purchasing process is efficient, successful and aligned with your goals. In your journey towards homeownership, choosing to partner with a buyer’s agent is perhaps the smartest decision you can make.

Selling A Home December 31, 2024

25 Smart Home Technologies that Matter Most to Home Buyers

The relevance of the smart home was also apparent at the 2015 Consumer Electronics Show held in Las Vegas earlier this year. Members of the Coldwell Banker Real Estate marketing team attended CES. The team couldn’t walk more than a few feet without encountering a new piece of smart home technology. From security systems with advanced motion sensors to innovative systems that allow for lighting control from mobile devices, the connected home was ubiquitous.

Inspired by CES, Coldwell Banker compiled a list of the top 25 smart home products and technologies that matter most to buyers, based on the Coldwell Banker survey and CES favorites. The list is grouped into seven categories: security, temperature, safety, lighting, entertainment, appliances and overall connectivity.

Check them out below, and follow along all week as we continue to highlight smart home technology on the Blue Matter blog and through social media with #smarthomeweek.

Smart Security

1. Kwikset Kevo Smart Lock – With Kevo the smartphone is now the key. Home sellers can allow their realtors, or anyone else such as a neighbor or a housecleaner, to have access to specified doors for a designated time. Eventually when the new buyer moves in all they have to do is download the app and they’re ready to go.

2. iSmartAlarm –Meet one of the DIY smart home security leaders, with no monthly fees and no contracts. This easy-to-install wireless DIY system is great for apartments or small homes. The iSmartAlarm system is almost infinitely expandable via door and window motion sensors, smart switches, and iCamera and iCamera KEEP models with streaming video and video storage. Packages start at $199.

3. Oplink Connected– Oplink Connected is great for a slightly larger home, and provides a premier service for a low monthly fee. The DIY alarm package includes door and window sensors as well as video cameras which are controlled through its mobile app.

4. SAGE Security & Home Automation– Coming soon — SAGE allows for management of the entire connected home through mobile devices and televisions. The television-centric SAGE system enables consumers to check on children in another room via a video feed, see who rang the doorbell or lower the room temperature — all from the comfort of the TV room couch.

Smart Temperature 

5. Nest Learning Thermostat – Tell a buyer that the home has a Nest thermostat and their ears will perk-up. The Nest Learning Thermostat absorbs its owner’s daily routine and adjusts the temperature accordingly. The Nest thermostat can be controlled through a phone, its built-in sensors detect an empty home allowing Nest to set itself to an energy-efficient temperature. Oh, and it also saves customers about 10 – 12 percent on heating bills and 15 percent on cooling bills per year — a huge win.

6. Honeywell Lyric Thermostat – Honeywell is known for temperature control and their new smart thermostat, the Lyric, is a solid entry into the smart home market. The most talked about advantages of Lyric are its geofencing feature and humidity sensor for more accurate comfort, control and savings. All of these qualities are definitely pluses for families.

7. Canary – This sleek-looking product is mostly about security, but it made this smart temperature list for its ability to monitor air quality, temperature and humidity. It’s cool enough to make an impression with potential buyers, at only $249. The Canary system is available in white, black or silver.

8. Big Ass Fans’ Haiku with SenseME – The world’s most advanced ceiling fan knows exactly when to speed up and when to slow down. Not to mention, it is a gorgeous and luxurious addition to any room. Starting at $1,045 it’s a better fit for luxury homes, but it will certainly set any listing apart.

Smart Safety

9. Iris Safe & Secure Kit – With Iris, Lowe’s is making it simple for just about anyone to make their home smarter. Feel more confident that families, homes and pets are safe and secure with the DIY, self-monitored home security system. Receive notifications directly to a smartphone, tablet or computer whenever an alarm event is triggered.

10. First Alert Onelink – This suite of smart home safety products is fresh to the market. Included in this offering (and available for presale on Amazon.com) are a Wi-Fi combination smoke and carbon monoxide alarm as well as a watch, both of which send phone notifications if something is amiss. The First Alert Onlink safety products, including the already available Wi-Fi thermostat, will be compatible with Apple’s HomeKit ecosystem.

11. Nest Protect – This smart home device is a smoke and carbon monoxide smart alarm that speaks in a human voice, telling the user if there’s smoke or CO, which room it’s in, and if there is immediate danger. Definitely comforting for families!

12. Leeo Smart Alert Nightlight – This genius little nightlight keeps track of smoke alarms, carbon monoxide alarms and home climate. If something’s not right, it sends immediate phone notifications.

Smart Lighting

13. Sengled Pulse Smart Bulb – This combination light and speaker had everyone buzzing at CES 2015. Simply twist the bulb into an existing light socket, download the app and connect to the Pulse bulbs. The Sengled Pulse Smart Bulb can stream music and control lighting at the same time.

14. Lutron Caséta Wireless – This connected home solution allows for lights, battery-powered shades and temperature to be controlled from a mobile device. An easy DIY solution that’s affordable, these products are less than $150. For example, hit “morning,” lights will turn onto a certain level, shades will rise and room temperature is adjusted to the desired level.

15. Philips Hue – Philips Hue delivers more than 16 million colors and all shades of white light to personalize lighting to suit any occasion, mood or moment. With more than 230 apps, Philips Hue can sync lights to music, or even simulate a sunrise effect. Bulbs and lamps are now all controllable via the Hue app or MyHue portal.

16. Belkin WeMo LED Lighting Starter Set – With this simple starter set, turn lights off-and-on from anywhere, create schedules and dim to create the perfect ambiance. The set includes the WeMo link, which allows users to connect up to 50 WeMo Smart bulbs. Can’t get enough of Belkin WeMo products? Get tricked out with complete Belkin home automation.

Smart Appliances

17.LG Studio Collection – LG Studio, LG’s premium line of kitchen appliances, seamlessly blends best-in-class innovation with an uncompromising approach to design. Its full suite of appliances — including refrigerators, cooktops, ranges, ovens and microwaves — delivers integrated and timeless styling, embodying LG’s finest expression of aesthetics and performance.

18. Whirlpool Smart Duet Washer and Dryer – Whirlpool has made it easy to control every load at anytime from anywhere. The Smart Front Washer and Dryer now work with the Nest Learning Technology, helping to keep clothes fresh if the cycle ends while the user is away.

19. LG Mega-Capacity French-Door Refrigerator – LG’s Mega Capacity Refrigerator boasts incredibly impressive size. As the largest in its class, families have room for even the biggest shopping expeditions with space to spare! It also includes the Slim Spaceplus Ice System and the Smart Cooling Plus System, which help keep food fresher, longer. The LG Mega-Capacity Refrigerator includes a 10-year limited warranty.

20. GE ChillHub This first-of-its-kind smart refrigerator has two USB hubs, WiFi and an open-source IOS-compatible app that integrates with the refrigerator by allowing access to sensor data and control of fridge components. The first ChillHub accessory, Milky Weigh, will even tell you how much milk you have left!

Smart Entertainment

21. N’FINITY PRO HDX Dual Zone Wine Cellars – The N’FINITY PRO is the most advanced wine cellar on the market. Equipped with an energy saving cooling system, telescopic shelving and dual zone cooling, these smart wine cellars will take care of all wine storage needs in the most cost efficient way!

22. Vizio 60″ P-Series Smart TV –This Ultra HD TV is crystal clear and lets users stream popular apps and favorite shows in UHD quality and use UHD playback from next generation cable and satellite receivers, Blu-ray players and more.

23. TCL Roku TV – The TCL Roku TV was released in August 2014 and quickly became a favorite because of its price and comprehensive smart TV features, such as its selection of more than 2,000 streaming channels, easy-to-use interface and simple remote. Recently, Roku announced plans to support 4K UHD streaming in future Roku TV models.

24. DishWorld TV App – The DishWorld app allows viewers to stream live TV on any smart phone, computer or tablet. The app can be used on Roku, Slingbox, Samsung Smart TV, Apple, Windows or Google Play devices.

Connected Home Platform

25. Iris Smart Kit: With so many ways to make a home smart, it can be a lot to digest and manage. Thankfully Lowe’s is making it easy with a single app to manage a Smart Home. Iris offers three starter kits and basic or premium service plans.

Selling A Home December 31, 2024

9 Overlooked Items to Prep Your Home for Sale

1.  Survey

Do you have a copy of a current survey on your home?  Have this document available and provide to your listing agent so they can include in the information about your home.  Buyers want to know about property lines, easements, conservation buffers, if there is room for a pool, if the property line extends to the water behind your home, etc.  Having a survey to provide upfront will help to eliminate these types of concerns vs. waiting until a property is under contract.

If you’ve made any changes that would affect your property such as adding a pool or fence since you took ownership and are not shown on your current survey, it’s important to advise the buyer.  A new survey will usually need to be ordered prior to closing in this scenario.  If you don’t have one from when you purchased the home, try contacting the title company or attorney’s office that handled the closing of the property.  Depending on how long ago that was, they may be able to retrieve from their archives.

2.  Floorplan or Appraisal Sketch

Buyers often need to know room dimensions as it helps with determining furniture placement and to ensure how what they have will fit (or have to be reconfigured) in the new space.  As any real estate agent can attest, many hours have been spent measuring spaces while looking at a home and comparing that against the existing buyer’s furniture dimensions.  I’ve encountered entire home searches that revolved around a great room accommodating an entertainment center and the garage size so a motorcycle could fit in addition to the cars!

An appraisal is helpful as it can confirm the exact square footage of a home vs. relying on tax records which may not be accurate.  We’ve all heard stories where the appraisal showed the actual square footage that was smaller than what was initially represented in a listing sheet.  Having an appraisal will help to ensure that does not happen.  You should have received a copy of the appraisal if you obtained a mortgage loan from your lender or if you refinanced.  If you don’t have either, consider having a floorplan drawn up or home measured by an appraiser when prepping your home for sale. Your agent can assist with resources to this effect.

3.  Utility Bills

Buyers want to get an idea of what they can expect the heating and cooling bills to be in a home.  Review your bills over the last one to two years to get an average in the various seasons, or call your local utility provider as they can often provide you with information on the high, average and low costs.  This information can be very beneficial when a buyer sits down to number crunch their total costs of owning a home.  If you had an unusually high or low bill, provide some explanation to accompany the numbers.

4.  Termite Bond

In many markets where termites are alive and well, it is common place for homes to have some sort of protection plan in place which is also known as a bond.   In Florida, where I live and work, this is a primary concern and often one of the first questions buyers and their agents want to know.  Prior to listing your home, obtain a copy of your termite bond policy from the provider, know exactly what type of bond you have – repair or treatment bond and up to what dollar amount of coverage is it good for.  Also know how long the bond is in effect, when it is up for renewal and what the renewal fee is, if there is a transfer fee and what does it provide protection for – not all bonds provide protection against all different types of termites.

5.  Pest Control

If you maintain any type of pest control on your property, compile information as to who the provider is, what you have done, how much you pay and how often does the company come out to treat the property.  A copy of your service agreement is helpful in this instance.

6.  Insurance

Buyers especially want to know who a seller uses for their homeowners insurance and how much they pay.  This is particularly the case in higher risk areas (where there are hurricanes, floods, fires, etc.) With homeowners insurance potentially more difficult to obtain in some areas, going through the existing seller’s insurance company can help streamline the process, particularly on an older home.

7. Product Manuals and Warranty Documents 

Now is the time to gather the various product manuals for all items that will be staying in the home such as appliances, water heater, heating and cooling system, ceiling fans, pool equipment, etc.  If your home came with any warranties, be sure to include these for the new owner as well.  Putting all of these in one large envelope makes it easy for everything to be readily accessible in one place for the new buyer.

 8.  Service Providers

Compile a list of all service providers/vendors and their contact information who you have used on your home – lawn service, pool service, A/C company, etc. While a new buyer may or may not choose to use these services, they will certainly appreciate having resources available to them and may elect to initially use them as they make the transition to living in your home.

9.  Covenants and Restrictions, Neighborhood Rules and Information  

This is key critical information for a new owner to have on hand.  A contract may likely hinge on the buyer’s review of this information, so easiest to have it available ahead of time.  If you don’t have these, contact your neighborhood’s association president or management company for assistance in obtaining a copy. Many of these documents are matters of public record and are available by going online to the appropriate municipality’s website.

Work with your agent to create an informational package or binder that you can provide to prospective purchasers that come through the home with the information mentioned above.  Gathering this information before you put your home on the market will save time and make the process that more efficient once you find a buyer.  It may even help your home to sell faster as all of this information is available upfront, eliminating the need for guesswork and waiting on answers while another property could possibly come on the market to grab the buyer’s attention.  You want to help keep the buyer focused on your home, so make it easy for them to buy by giving them what they want.  Happy selling!  You can read more home seller tips here.

Guest post by Cara Ameer

Home Improvement December 31, 2024

5 Apps to Redecorate Your Home with Your Phone

With dozens of decorating apps to choose from and inspiration just a finger touch away, redecorating your home has never been easier. Augmented Reality (AR) now lets you use your phone to see how colors, accessories, and furniture will look in your own house. On the horizon, you can expect to see apps using Artificial Intelligence (AI) to learn your style through your interaction with them.

Whether you’re looking to give your living room a quick refresh or want to completely revamp your home, these five apps can help you get started. Create a stunning look without blowing your budget — no professional interior designer needed.

Houzz: Start with online inspiration

Apps like Pinterest and Instagram have plenty of pictures and designs to start your inspiration journey. However, it’s easy to get overwhelmed, and keeping track of design ideas can be cumbersome.  It’s not always simple to buy an item featured in a picture, and you might need to search around to find a similar item. A site like Houzz can help you keep everything organized and in one place.

Houzz covers architecture, interior design, decorating, landscape design, and home improvement. It has over 17 million high-resolution photos, all of which can be filtered by room, style, budget, size, color, or a combination.

 

Many of the pictures have purchasing information on the featured items, allowing you to purchase them within the Houzz app.  You can also save pictures to an “Ideabook” to help keep your style ideas all in one place.

The app uses AR to help you see what an item will look like in your home. Click the “View in my room” button to see the item in 2D using your phone’s camera.

The Houzz app is free on iOS and Android.

MagicPlan: Create a floor plan from your phone

To ensure that the furniture you plan to purchase fits in the room you’d like to decorate, it helps to create a floor plan.  The MagicPlan app lets you input the dimensions of a room by measuring, drawing, or using your phone’s camera to create the floor plan.

Once you’ve added your room’s dimensions, you can add doors, windows, structural features, plumbing, appliances, electrical, HVAC, furniture, flooring, and more to your floor plan.  Many of these features are free to use, but there is an in-app cost for things like cabinetry, light switches, and outlets.

When you add MagicPlan’s 2D furniture, you can adjust it to the size you want by using your fingers or inputting the dimensions.  You can add your own photos to your floor plan, as well.

If you are planning to paint or replace the flooring, estimate how much it would cost by clicking “Estimate” for the approximate price. Just remember the estimates do not include the cost of labor.

MagicPlan is free on iOS and Android.

TapPainter: Virtually paint your walls

Swatches from your local home improvement store make it hard to envision the color of the whole room, and buying paint samples can get expensive. The TapPainter app lets you choose paint colors from Benjamin Moore, Behr, Sherwin Williams, and other popular brands.

Use the app to snap pictures of the room you want to paint and try out different colors by entering the code from a paint swatch, choosing a color from one of the brands included, or mixing your own custom color.  You can even add different colors to different walls.

TapPainter is free on iOS.

DécorMatters: Design a room using AR

DecorMatters is an app that lets you virtually add pieces and design elements to a real room.  Take a picture of the room you want to decorate and use AR and the AR ruler to add and measure 3D pieces. This is a simple way to see if a piece you’ve been eyeing will fit.

The app features items from popular stores like Crate & Barrel, Target, Overstock, West Elm, IKEA, and Ashley, and you can make in-app purchases right from your phone. You can save your ideas to your mood board to share with friends, and the DecorMatters in-app messaging also offers free feedback and suggestions from real DecorMatters interior designers.

DecorMatters is free on iOS.

Art.com: Add some art to your walls

Finally, the Art.com app offers hundreds of frame styles and sizes to help you plan your gallery wall. Use the app to arrange different layouts to see how your gallery wall could look.

Art.com’s latest app release also lets you upload your own artwork and family pictures to pair with any style frame, and you can even have them printed on canvas, wood mount, acrylic, and more.

The Art.com app is free on iOS and Android.

It’s easy to create a stunning look that suits your style, all from your phone. These five apps offer the inspiration, confidence, and guidance you need to get started on your redecorating project.

Lori Cunningham is a family tech advocate and contributing writer for Xfinity Mobile. She is a mom to two creative children and started the WellConnectedMom.com to share her passion for technology with others.

Buying A Home May 3, 2022

Wedding or Homeownership? Unmarried Americans Would Prefer to Invest in a Home, According to Coldwell Banker Survey

MADISON, N.J. (November 17, 2021) – Americans pressed pause on many milestones in 2020, but in 2021 they reignited plans to buy and sell homes. The real estate market is strong according to the National Association of Realtors® and homeownership is top of mind for Americans. In fact, 82% of unmarried Americans would rather invest in a home than pay for a big expensive wedding, according to the latest survey from Coldwell Banker Real Estate LLC, a Realogy (NYSE: RLGY) company.

Conducted online by The Harris Poll among over 2,000 U.S. adults, the survey reveals what’s on home buyers’ and sellers’ minds as we close out a strong year for real estate in a market marked by tight inventory. A sellers’ market still prevails and competition remains strong across many cities, especially as younger Americans enter the real estate market and various demographics set their sights on homeownership.

Who’s Got Real Estate on their Mind?

  • Gen Z & Millennials are moving on up: Younger Americans surveyed (age 18-44) are more likely to say owning a home is an important financial goal for them (45%) compared to those 55+ (30%).
  • Goodbye renting, hello homeownership: 47% of Respondents who are renters say “owning a home” is an important financial goal for them.
  • Hispanic homeownership desire is high: 42% of Americans surveyed who self-identified as Hispanic say “owning a home” is an important financial goal, and among Hispanics this is higher than any other financial goal.

As many Americans experienced life in 2020 without big vacations or weddings, Coldwell Banker Real Estate set out to discover what goals Americans would prioritize. Overall, Americans are still thinking of homeownership, indicating that they would rather allocate money to achieving those dreams than investing in other personal milestones such as big weddings, vacations or even paying off their student debt.

What Would They Be Willing to Trade for a Home?

  • Home is the new engagement ring: 82% of unmarried Americans surveyed, including 85% of females who aren’t married, would rather invest in a home than pay for a big expensive wedding.
  • Staycation: Over three quarters of Respondents (77%) would rather invest in a home than spend money on an expensive vacation.
  • Save student debt for later: College graduates are more likely to select “owning a home” (41%) as an important financial goal than “paying off student debt” (17%).

Amid this tight housing market – and with so many Americans invested in finding the perfect home to fit their lifestyle – Coldwell Banker affiliated agents serve as trusted advisors, guiding people home since 1906.

CLICK TO TWEET:

Homeownership over anything? @ColdwellBanker’s latest survey looks at what Americans would trade to make their homeownership dreams a reality. Check out the findings: https://blog.coldwellbanker.com/fall-survey-2021/

QUOTES:

“The 2021 housing market has been marked by low inventory and competition as Americans continue to keep homeownership top of mind. Our latest survey suggests that, with generations of all ages and backgrounds prioritizing homeownership over other financial goals, this sellers’ market may continue into 2022. Our network of approximately 100,000 agents is ready to help home sellers take the next step.”

  • M. Ryan Gorman, president and CEO, Coldwell Banker Real Estate LLC

“Coldwell Banker’s survey found that homeownership is a primary financial goal for 47 percent of Americans surveyed who identify as Hispanic. The U.S. Hispanic population reached more than 62 million in 2020, growing significantly in the past decade, according to the Pew Research Center. The affiliated agents at Coldwell Banker recognize this incredible potential for increasing homeownership, and they’re equipped to help this population looking for a home navigate the complexities of a tight housing market.”

  • Ricardo Rodriguez, Coldwell Banker Global Luxury Ambassador, Boston, Mass.
Selling A Home May 3, 2022

Roaring 20s: Real Estate Saddles Up for a Seller’s Market as One in Five Homeowners Plans to Sell this Year According to Survey

Coldwell Banker focuses on guiding sellers home through a spring selling season like no other by pairing “Guiding You Home Since 1906” marketing campaign with a home seller survey

MADISON, N.J. (March 16, 2021) – Coldwell Banker Real Estate LLC, a Realogy (NYSE: RLGY) brand, recently commissioned a survey, conducted online by The Harris Poll among over 1,300 U.S. homeowners, exploring their plans to sell amid this year’s fast-paced market to coincide with its national ad, “Guiding You Home Since 1906,” airing during the NCAA Men’s College Basketball Tournament. The survey findings indicate this already hot real estate market is roaring into this decade, as one in five homeowners (20%) plans to sell in the next 12 months.

“Guiding You Home Since 1906”

Airing just in time to capitalize on this growing trend, the “Guiding You Home Since 1906” ad shows people celebrating the joy of returning home, a sentiment made more meaningful after a year spent apart from those we love. Last year, following a first-of-its-kind transparent rebrand to modernize the 40-year-old logo, the brand released the ad with the new North Star logo and brand story to the consumer market set to air during the 2020 NCAA Men’s College Basketball Tournament. However, after only a week of airing the ad, the tournament was cancelled.

Now, after a year of pivots, the real estate industry’s most effective ad will air again during the 2021 NCAA Men’s College Basketball Tournament among several other platforms including Hulu, HGTV, Food Network and other cable network programing.

The ad ranks as the top real estate ad of 2020, outpacing the industry average with high marks for likeability, attention and music as measured by Ace Metrix. Ace Metrix also confirms that “Guiding You Home Since 1906” is in the top 3.4% of all ads for heartfelt scores.

It’s no wonder consumers love the “Guiding You Home Since 1906” campaign. The ad showcases how Coldwell Banker-affiliated agents are a vital aspect in any home selling experience – especially in this fast-paced seller’s market, in which sellers need the most trusted guide in the industry to help them navigate this new normal.

Home Seller Survey: Real Estate’s Roaring 20s

Concurrent with the ad airing, the spring home buying and selling season is already hot. With record low inventory on the market, pent up demand and continued historically low mortgage rates, Coldwell Banker Real Estate asked home sellers about their plans to list their homes. The survey results reflect homeowners’ plans to sell, where they are going and their top concerns.

Americans on the Move

  • One in five homeowners (20%) say they plan to sell their current home in the next 12 months.
  • The Young and the Restless: Younger homeowners (aged 18-34 and 35-44) are more likely to say they plan to sell their home in the next 12 months compared to their older counterparts (39% and 36% vs. 19% aged 45-54, 6% aged 55-64, and 2% aged 65+).

Relocating and Upsizing

  • In addition to a new home, many are seeking out a new location too. Nearly six in 10 homeowners who plan to sell in the next 12 months (57%) are relocating to a different city or state.
  • The most common motivation for listing their home for sale among those who plan to sell in the next 12 months is the desire/need to upsize (39%). Other top motivations include realizing their home can sell for more than they thought (31%) and the ability to work remotely for their current employer (30%).
  • Baby Bust in a Real Estate Boom. Many predicted a baby boom in 2020 – it just didn’t happen. Homeowners plan to expand their households in other ways, including getting a pet or having a relative move in, as 2 in 5 (40%) younger homeowners (ages 18-44) say their household size growing in the next 12 months will impact their housing needs.

Common Concerns

  • Nearly all homeowners planning to sell in the next 12 months (95%) would have concerns about selling today, in an unprecedented market. For those planning to sell in the next 12 months, the top concerns if they were to sell their home today are the U.S. economy tanking not being able to purchase a home after they sell (38%) and coming into contact with COVID-19 (34%).
  • Younger homeowners are seeking extra guidance. If they were to sell their home today, younger homeowners are more likely than some of their older counterparts to say they would be concerned about the following:
    • The home selling process being intimidating (35% 35-44 vs. 23% 45-54, 20% 55-64 and 15% 65+)
    • not knowing what their home is worth (27% 18-34 vs. 12% 55-64 and 15% 65+)
    • not knowing where to start (28% 18-34 and 22% 35-44 vs. 12% 55-64 and 8% 65+).

CLICK TO TWEET:

Ready, set, SELL! @ColdwellBanker 2021 Spring Home Seller Survey shows 1 in 5 homeowners plans to list their home in the next 12 months. Check out the findings and connect with a Coldwell Banker agent to guide you home: https://blog.coldwellbanker.com/sellers-market-ad-campaign/

QUOTES:

“Stepping up to the challenge of guiding people home in difficult times is not a new experience for Coldwell Banker agents. In fact, it was the impetus for our brand being founded in 1906. Now, 115 years later, we continue to act as the trusted advisors to our clients to ensure they are achieving their dream of home. This heartwarming ad and survey remind us why people need trusted real estate professionals to navigate one of life’s biggest emotional and financial decisions, especially in this fast-paced market.”

  • Ryan Gorman, president and CEO, Coldwell Banker Real Estate LLC

“After a year like 2020, we’re all acutely aware of what defines ‘home’ – a place of security and comfort, where those we love wait for us. So when I reflect on the song we chose to represent our Coldwell Banker rebrand and ad campaign last year, ‘Homeward Bound’ by Simon & Garfunkel, I cannot think of a better fit. The lyrics not only resonate with the message of the ad but after the past year lots of homeowners are realizing they want more and are wishing to find the perfect home. No one is better suited to be that guide home than a Coldwell Banker agent. After all, we’re the only real estate company that’s been guiding people home for 115 years.”

  • David Marine, CMO, Coldwell Banker Real Estate LLC

The ad was conceived and created by Siltanen & Partners, the national advertising agency for Coldwell Banker Real Estate LLC.

Survey Methodology

This survey was conducted online within the United States by The Harris Poll on behalf of Coldwell Banker from February 23-25, 2021 among 1,356 U.S. homeowners ages 18 and older, among whom 236 plan to sell their home in the next 12 months. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact Caroline Tobin at CTobin@gscommunications.com.

General News May 3, 2022

How the “Great Resignation” is Driving the “Real Estate Renaissance”

Latest Coldwell Banker explores where Americans are moving, unveiling what the “Great Resignation” means for real estate markets across the nation.

Home is where the heart is and with the rise of Americans who no longer feel bound to one city, it’s no wonder there is a recent spark in homeownership desire across the country. According to a recent survey commissioned by Coldwell Banker, 41% of employed Americans would be willing to take a pay cut or accept a new job with a lower salary in order to move to a more affordable location.

So, who is moving and where are they headed? The survey results unveil what the “Great Resignation,” the movement of people leaving the workforce during the pandemic, means for real estate markets across the nation.

Young, employed Americans are packing their bags

According to the National Association of Realtors, home prices have dramatically increased in recent months, so it is no surprise that living in an affordable city is top-of-mind for many home seekers. In fact, younger employed Americans ages 18-44 are more likely than those 45-54 to be willing to take a pay cut or accept a new job with a lower salary in order to move to a more affordable location.

Space to grow

Homeowners, especially young adults, are noticing their own households expand, from new roommates, to living with family, to new pets. 57% of homeowners 18-34 said they have felt their housing needs impacted by a growing household in October 2021 compared with 50% in February 2021. It is no wonder many young Americans are seeking their own property and are ready to make a move.

Sunny days ahead

Young Americans are ready for the sun and they’re bringing the heat as Miami, Florida, and Austin, Texas, were revealed as two of the nation’s top cities for relocation. 31% of males aged 18-34 would consider moving to Miami while 21% of females aged 18-34 were more likely to consider relocating to Austin among the options listed.

Dreaming becomes doing

The bottom line is simple: Americans are ready to stop dreaming about homeownership and are ready to make it a reality. From Pinterest boards to Instagram inspiration, they’re looking forward to where home will be, but many still need help throughout the selling process.

The home selling process is no longer as intimidating as it may have once seemed, as just 16% of homeowners indicated that an intimidating home selling process would be a concern if they were to list their home today, compared with 20% in June 2021 and 24% in February 2021. The support and guidance from a Coldwell Banker agent can make the process that much smoother, which is why our agents across the country look forward to supporting those in search of their new home.

Americans await their new homes

From affordability to need for space, Americans have many reasons to call a new city home. Over a third of Americans (34%) indicated that they would like a program that offers benefits to a seller such as no upfront cost for renovations, instant cash offer or additional listing exposure when looking for a real estate website to use when buying or selling a home.

Coldwell Banker has great programs to aid in the home selling and buying process like the RealVitalize program, for sellers looking to sell their home faster and for a better price. RealSure Sell brings home sellers the certainty of a cash offer while they work with one of our trusted agents to find an even better offer to maximize the sale of their current home. In addition, the RealSure Buy program leaves the choice to the home seller; whether they accept the RealSure cash offer or a third-party offer, the program’s added benefits ensure they can act as if their house is sold to purchase the home they love with ease.

As household sizes expand, and the appetite from younger Americans who are willing to relocate across the country for their dream home grows, we’re here to help guide them.

Visit http://www.coldwellbanker.com/ to find your local Coldwell Banker agent and get your real estate dreams started.