How Trends Can Impact the Sell or Purchase of a Home

Recently a report from the National Association of Real Estate Editors gave out the top five trends for real estate today. Hundreds of real estate professionals were on hand to hear the results which showed that the national market was on the rebound.  But we at Rose & Womble care about the LOCAL market and we wanted to review the items to show you how they affect the Hampton Roads marketplace.

Energy Efficiency

This was a hot topic because it is increasingly becoming important to buyers.  A national trend that is growing is buyers asking for energy bills to estimate how much it costs to heat and cool a home.  Way you as a seller can take advantage is considering upgrading the appliances to Energy-Star rated, making sure the attic is well insulated, and replacing windows with high-efficiency windows.

Credit is Still a Concern

The media and many at the conference believe that the majority of people assume they can’t qualify for a mortgage because of their credit score.  While new regulations require that lenders really check an potential loan for many steps you can’t assume that your credit score is the only factor.  Ways to help with this trend as a buyer: start your real estate conversation with a REALTOR® and a great loan officer.  The loan officer can pull your credit report and then help you come up with a plan to get into the price range you want.  Plus there are a TON of great loan products so doing your homework helps.  For sellers offering great terms including closing cost assistance can go a long way to easing a buyer’s apprehension.

Lifestyle Amenities

Increasingly more and more buyers are looking for community of their dreams – not just the house.  They want walkable neighborhoods, close to work, school and play.  Many buyers wish list include great neighborhood playgrounds, access to nature, and bike trails.  As a seller you can make sure your agent highlights these great features in your community.  As a potential buyer you should make a list of features for the community you want – your REALTOR® can help create a search to find those communities that meet your needs.  Thinking about your home search in terms of communities will help you really enjoy your new house.

Water Efficiency

Saving water is another area that buyers are looking into.  According to Consumer Reports, 1/3 of home owners turned parts of their lawn into patio or other useable space.  This goes with the trend of more outdoor living, but also with saving water.  Sellers should consider adding indigenous plants, or adding water saving plumbing options like low-flow shower heads.  Buyers should consider  looking at the water-saving features available in the home and if the outdoor space is manageable.

Online Real Estate is Exploding

This one isn’t much of a shock – we’ve seen it with Rose & Womble and that is why we’re investing in the best technology to ensure that our listings are seen by buyers.  90% of buyers use the internet to find property – so for a seller it is important to ask the potential listing agent what his plan is for online marketing of your property.  He should know which sites the listing will appear on, where it potentially will sell, and also which images should be used to get buyers off the internet and into seeing the home.  For RoseandWomble.com we get 80,000 unique views a month – but that doesn’t stop us from investing to ensure our properties are see on top real estate websites like Trulia and Zillow.  We’ve also increased our mobile share, ensuring your listing can be found on any advice.