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Strong seasonal price increases in the second quarter of 2016 have made it harder for Californians to purchase a home, for only 31% of them would be capable of affording a median-priced single family property in the state. Further averages are noted below, including the most and least affordable counties in California.
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Millennials do aspire to own a home, but wish to do it on their own terms. Of their desires, about three fourths of this age group wish homes were more versatile in which rooms could easily change depending on lifestyle and family variations. More of their views are detailed below, including whether a home is meant for leisure or social entertaining.
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Besides its overall appeal, outdoor landscaping stands to benefit homeowners in various ways such as reducing energy costs to improving quality of life to mitigating runoff. Read on for a detailed breakdown of why vegetation is more than its beauty.
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Purchases of single family homes by investors have been steadily declining since 2013 as more begin to buy niche properties, such as commercial, land, or mobile homes.
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More than half of homeowners believe it is a sellers' market with the leading motivation driving owners to sell being their desire for a larger or nicer home. On the other hand, their primary concern with selling is the potential of not finding a home they would want. Take a look into all the motives and challenges sellers voiced below.
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Whether it comes from credit cards, student loans, or auto loans, almost two thirds of renters posses debt that make buying a home difficult. While they rate homeownership relatively important, down payment assistance funding can help those looking to settle down and purchase a property.
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The generational tendencies toward home buying are shown below. The younger generation, the Millennials, are more likely to buy a home in the next few years rather than stay in their current one while as the generations get older the reverse is true with the Matures extremely unlikely to purchase a new home and instead expected to stay in their current one as long as possible.
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Those aged 55+ are on the hunt for properties and will continue to impact the real estate market. An overwhelming majority prefer a property with more space in a less populated community than less space in a more populated community. About half of this age group desire a home in the 2,000 to 2,999 sq. ft. range while their many other preferences can viewed below.
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People across the country face challenges when they plan to purchase a home. Several trends have emerged, and the following chart breaks down the unique obstacles that various ethnic groups tend to encounter.
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With the rise of digital home searching, buyers are looking to gain all the information about a property with the tools presented to them. As for helpfulness, the most valuable tool realtors can provide prospective buyers are photos of a listing while a detailed description came in at a close second.
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With over $750 Million in real estate sales, The Aaronson Group offers an unparalleled level of service to our highly respected clients. Whether you are looking to buy or sell your home, we guarantee that our expertise, professionalism & dedication will navigate you towards meeting your unique real estate needs.
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