Rising Rents, Stagnant Wages, And the Burden of Unstable Housing By Joe Szabo, Scottsdale Real Estate Team
27 Stats That Sum Up the American Housing Market By Joe Szabo, Scottsdale Real Estate Team
Renters
More Americans are renting today than in recent decades — some by choice and some simply due market conditions. Thirty-seven percent of American households are renters — about 43.7 million homes — which is an increase of 6.9 million homes since 2005. While part of the rise in renters is due to the 8 million homes lost to foreclosure during the recession, renters today also prize the maintenance-free and flexible lifestyle renting offers.- Renters skew younger: The typical renter has a median age of 32 years old.
- Renters represent a more diverse population. Fifty-five percent are Caucasian/white, an additional 19 percent are African-American/black. Hispanics count for 17 percent of renters, Asian/Pacific Islander renters make up 7 percent of the renter population and another 3 percent identify as another ethnicity.
- Nearly half of renters are single, including a third who have never married.
- Although the majority of renters are single, 78 percent live with others, most often this is another family member.
- The median rent across the U.S. is $1,010 with highest rents in the West and lowest rents in the Midwest.
- Renting can be expensive: 79% of renters who moved in the past year had a rent increase.
- More than half of renters (57%) had a rent increase impact their decision to move and 37% of renters who aren’t moving say it’s because they can’t afford to.
Buyers
Buying is tough in all markets. For most Americans, it’s the biggest purchase they’ll ever make as well as a significant financial investment they’ll tap into as part of retirement. In particular cities, purchasing a home has become a competitive game, complete with bidding wars and offer negotiations. It makes sense that most buyers rely on agents to help them through the process.- Today’s buyers have a median age of 40, although the majority (71%) of first-time buyers are Millennials.
- The median household income of the typical buyer is $87,500 and most buyers are married or partnered, relying on two incomes to purchase a home.
- The typical home in the U.S. purchased has 3 bedrooms, 2 1/2 bathrooms, measures 1,800 square feet and costs $200,000.
- More than anything, buyers want their home to be in a safe neighborhood (71 percent of buyers) and in their price range (67 percent of buyers).
- Other than safety, buyers also want to stay cool. Sixty-two percent of buyers require their homes to have air conditioning.
- Buyers take an average of 4.3 months to search for their new homes — although Millennials take just under four months (3.9 months) and those in the Silent Generation who take the longest at 5.6 months.
- The suburbs rule: 49% of buyers buy there, followed by 31% of buyers buying in urban locations and just 19% of American buyers purchasing in rural regions.
Sellers
Although some hot markets have favorable conditions for sellers, selling is still rarely an easy process. Sellers have two main goals when they list their homes: one- to sell their home in their preferred time frame, and two, sell for their desired price. Balancing the two, timing and price, create a delicate dance and throw in the fact that most sellers are also buyers and searching for their new home, creates a often stressful experience.- Sellers have a median age of 45 although Millennials make up nearly one-third of todays’ sellers.
- Sellers have a higher median income than homeowners at $87,500.
- The typical seller has lived in their home for 12 years.
- Most sellers are selling for the first time (61%) and looking to buy at the same time (71%).
- Seventy-six of sellers have to make at least one concession to sell their home — most often being a price reduction.
- One in two sellers sell their home for less than their original listing price.
Homeowners
As anyone will tell you, owning a home is a lot of work. It’s also a great investment, especially in many of today’s markets were annual appreciation rates are higher than they have been in decades. Beyond the work and the financial piece, home ownership often has an emotional component as well.- Homeowners are the oldest, with a median age of 57 years and just 14% are Millennials.
- Homeowners have a median household income of $62,500 and 71% live with a spouse or partner.
- Forty percent of homeowners have a pet (with dogs ranking in top at 30%).
- Almost half of homeowners (46 percent) live in the first home they purchased, although this percentage decreases with age.
- Eighty-six percent of homeowners have no plan to sell in the next three years.
- Less than a quarter of homeowners say their home is in “like-new” condition and more than 60% say their home could use a little updating.
- The top of homeowners’ to-do list for the next year include: painting the interior (25%), improving the bathroom (22 percent) and landscaping (21 percent).
Can Houseplants Really Clean the Air? By Joe Szabo, Scottsdale Real Estate Team
So can houseplants purify my air or not?
In theory, yes. But if you’re thinking of making your own botanical air filtration system, you’ve got a lot of work to do. As an EPA reviewer explained in 1992, “To achieve the same pollutant removal rate reached in the NASA chamber study,” you would need “680 plants in a typical house.” You’d be better off buying an actual air filtration system or, at the very least, vacuuming more often. Yes, it’s true that some plants in the NASA list were more effective at removing benzene, trichloroethylene, and/or formaldehyde than others, but the amount is so negligible that neither the American Lung Association nor the EPA recommends using houseplants to improve your air. Taking it a step further, both organizations warn that houseplants can worsen your air quality, introducing bacteria that grows in damp potting mix or pesticides used by the nursery. Don’t let that discourage you from indoor gardening, though. If you’re that worried about your air quality, you’d never step outside in the first place. In any case, here’s how to keep your houseplants squeaky clean:- Dust those leaves! While you’re at it, dust the house.
- Keep potting mix in its place with an ornamental mulch of river rocks or gravel.
- Avoid using pesticides whenever possible.
- Place saucers under each plant to catch excess potting mix.
- To prevent mold, water plants only when the top half inch of the potting mix is dry.
- Remove any diseased, yellowed, damaged, or fallen leaves.
Grow houseplants for happiness
True story: I once grew over a hundred plants in my tiny apartment, and I can attest that there was nothing clean about the experience — at all. Dust filled the air, tree frogs and lizards leaped out of the foliage, and some plants even had stinky fertilizers in the potting mix. Those plants may not have made my air any cleaner, but cultivating a rainforest in the comfort of my home definitely made me a happier person. Houseplants are a lot more exciting than you’d think. I was actually excited to wake up every morning, because each day brought the promise of a fresh new leaf, a different flower to admire, or another thick orchid root to mist with water. Helping these living plants grow and thrive gave me a sense of purpose and a connection to the natural world. They also made me sneeze, but only because I spilled potting mix on the floor fairly often. The only reason you need to grow a houseplant is to be happy. There are, of course, studies suggesting that living with plants improves your concentration, calmness, and productivity, but there’s no point in proving what we already know. Nobody would bother growing houseplants if they didn’t make us happy. Please note that this Scottsdale Real Estate Blog is for informational purposes and not intended to take the place of a licensed Scottsdale Real Estate Agent. The Szabo Group offers first class real estate services to clients in the Scottsdale Greater Phoenix Metropolitan Area in the buying and selling of Luxury homes in Arizona. Award winning Realtors and Re/MAX top producers and best real estate agent for Luxury Homes in Scottsdale, The Szabo group delivers experience, knowledge, dedication and proven results. Contact Joe Szabo at 480.688.2020, info@ScottsdaleRealEstateTeam.com or visit www.scottsdalerealestateteam.com to find out more about Scottsdale Homes for Sale and Estates for Sale in Scottsdale and to search the Scottsdale MLS for Scottsdale Home Listings.With This DIY Sporting Goods Catch-all, Game Day Is No Sweat By Joe Szabo, Scottsdale Real Estate Team
1. Find a bookcase
Choose a bookcase with at least three wide shelves so you can store gear in a variety of sizes.2. Add locking wheels
Attach locking wheels to the bottom of the bookcase so you can easily move it around the mudroom or the garage.3. Drill holes
Drill evenly spaced holes (about four or five, depending on the width of the bookcase) along the top surface of one of the shelves. You’ll want the holes to be fairly close to the edge — about one-half inch away or less. On the underside of the shelf below, drill holes to match up exactly with the holes on the shelf above.4. Attach bungee cords
Place the bungee cord hooks in the drilled holes, and arrange the cords vertically so they create a net. You want the cords to be pretty taut, so be sure to get the right size for your bookcase.5. Mount peg boards
Frame the sides of your bookcase with 1x2s to support peg boards that have been cut to size. Secure the peg boards with a few nails on the top and bottom.6. Customize with hooks and holders
Place hooks and holders on the peg board so you can hang your tennis rackets, baseball gloves, jerseys, helmets, and more.7. Load up your catchall, MVP!
Grab your gear and organize the bins like you’re Russell Westbrook going for another triple-double. Now all you have to worry about is scoring the winning goal. Please note that this Scottsdale Real Estate Blog is for informational purposes and not intended to take the place of a licensed Scottsdale Real Estate Agent. The Szabo Group offers first class real estate services to clients in the Scottsdale Greater Phoenix Metropolitan Area in the buying and selling of Luxury homes in Arizona. Award winning Realtors and Re/MAX top producers and best real estate agent for Luxury Homes in Scottsdale, The Szabo group delivers experience, knowledge, dedication and proven results. Contact Joe Szabo at 480.688.2020, info@ScottsdaleRealEstateTeam.com or visit www.scottsdalerealestateteam.com to find out more about Scottsdale Homes for Sale and Estates for Sale in Scottsdale and to search the Scottsdale MLS for Scottsdale Home Listings.Design Pros’ Secrets for Finding and Using Reclaimed Materials By Joe Szabo, Scottsdale Real Estate Team
Where to find pieces for a renovation
So, where’s the best place to find renovation materials? The answer is wherever you can find materials that inspire you. “We have great salvage yards in Seattle, but I know those aren’t available everywhere,” says Lindberg. “If you’re in a smaller city without a salvage yard, try Craigslist. We’ve gotten a lot of things there.” In addition to Craigslist, the duo suggests trying Etsy for interesting lighting and hardware, as well as eBay and garage sales. “If you see anything cool or unusual, no matter where it is — on the side of the road, at the garage sale — just say to yourself, ‘What can I do with this?’” Cederlind says. “Sometimes you have to mull it over for a couple days before you come up with something,” Lindberg notes. “But if it speaks to you, and it’s interesting, it’s worth finding a use for it.”The best types of reclaimed pieces
When hunting for unique reclaimed materials, Cederlind and Lindberg suggest watching for quality pieces of furniture made of solid wood, such as dressers, which often feature intricate carvings or other unique details.. “One of the pieces we’ve used the most is buffets,” Lindberg says. “We use them for islands in kitchens.” If you find an interesting piece while you’re out shopping, make sure it fits your home’s style. Although Cederlind and Lindberg don’t call themselves design purists, they say it’s best to avoid a style disconnect. If you have a Tudor home, you probably don’t want to put a bunch of mid-century modern pieces in it. You also want high-quality pieces. “Avoid it if it’s stinky,” Lindberg says.Some DIY best practices
An important point to remember when working with reclaimed materials: Gather all your materials before you (or a contractor) start the work. “Let’s say you’re creating a pantry, and [your contractor] makes a doorway,” explains Lindberg. “It’s going to be impossible to find a door that exactly fits that size. You have to have all your materials first, and then have your contractor fit the doorway accordingly.” Before installing any reclaimed pieces, such as an old dresser turned into a vanity, be sure you can safely secure it, including finding the studs when attaching pieces to the walls. You may also have to modify the height of pieces to be functional for their new usage. Above all else, the best DIY practice is just to try, the duo says. “With all the amazing tools now, like pancake compressors and air nailers, you’d be surprised at how easy it is,” says Cederlind. “There are so many tutorials on YouTube. If somebody is really interested and wants to learn to do this, they can teach themselves.” If you aren’t the handiest person in the world, reach out to a local handyperson or contractor. You can easily search for a quality craftsperson, but it’s always best to get recommendations from friends and family, Cederlind and Lindberg advise. Ultimately, a great renovation project is about taking risks and creating a design that you love. “Be brave. Most people are intimidated or timid about trying things — even paint,” Lindberg says. “But you can always repaint!” Please note that this Scottsdale Real Estate Blog is for informational purposes and not intended to take the place of a licensed Scottsdale Real Estate Agent. The Szabo Group offers first class real estate services to clients in the Scottsdale Greater Phoenix Metropolitan Area in the buying and selling of Luxury homes in Arizona. Award winning Realtors and Re/MAX top producers and best real estate agent for Luxury Homes in Scottsdale, The Szabo group delivers experience, knowledge, dedication and proven results. Contact Joe Szabo at 480.688.2020, info@ScottsdaleRealEstateTeam.com or visit www.scottsdalerealestateteam.com to find out more about Scottsdale Homes for Sale and Estates for Sale in Scottsdale and to search the Scottsdale MLS for Scottsdale Home Listings.Good to Grow: Creating a Custom Gardening Workspace By Joe Szabo, Scottsdale Real Estate Team
Show off your garden shed
A shed is a utilitarian place to store stuff, of course, but it’s also an opportunity to incorporate architectural interest into your garden. Mirror your home’s paint colors to create a harmonious effect, or turn it into a focal point by painting it a bright accent color. Just be sure that it complements your existing color scheme. Give your garden shed the same amount of curb appeal you’d give your home. To avoid mowing the awkward space around your shed, give it a foundation planting, and surround it with ground covers, like mondo grass.Make room for a potting bench
Technically, you can use any counter-height table as a potting bench, but it’s all the bells and whistles that make the difference — features like potting sinks, open shelving, drawers, hooks, and even paper towel bars. Make your own potting bench from scratch, or repurpose an old bathroom vanity or console table for a little more character. You can also purchase a readymade potting bench from your local garden center or hardware store, but choose one built with quality wood that can withstand moisture and sunlight.Keep it clean
Dirt and debris are bound to turn up in your workspace, but too much will attract pests like cockroaches, silverfish, and earwigs. To keep your workspace tidy, wipe down your mower, edger, shovels, and hoes with a stiff brush before putting them away, and store them by the door for easier cleanup. Clear the floor for easy sweeping by placing large supplies in stacking plastic bins, then label one for herbicides, one for fertilizer, and so on. Keep a large, lined kitchen trashcan around so you always have a place to put those empty plastic pots and bags.Don’t hoard supplies
Workspaces are made for working, so don’t treat yours like a storage shed. Excess stuff is more than a waste of space — it makes it harder to get things done and even creates hiding places for dirt and bugs. Don’t feel guilty about throwing away (or donating) anything that accumulates a layer of dust. Even if you think they’ll prove themselves valuable someday, those old pots and decorations will never be as valuable as a functional and inspiring workspace.Sort the small stuff
Once you’ve rid your space of clutter, make designated spaces for the things you actually use. Keep your most often used tools in a caddy so you won’t have to collect them each time you head to the garden. Store the tools and tidbits you won’t need for a while on a pegboard or in designated bins. Shelving is the traditional choice for storage, but much of that space often goes unused. To make the most of it, stack plastic organizers and bins. Depending on the size and design, they’ll hold anything from potting mix to plant tags.Organize the shovels and such
Don’t settle for leaning those big shovels and rakes in a corner. Either purchase a freestanding garden-tool rack or make your own wall rack with nothing more than two-by-fours. Attach one or more two-by-fours to the wall horizontally, securing them to studs for extra stability. Purchase a variety of specialized wall hooks from the hardware store, and arrange them beforehand to leave enough space for each tool. Use large hooks in sets of two to store hoses and extension cords, or even in sets of three to store string trimmers by laying them flat. Please note that this Scottsdale Real Estate Blog is for informational purposes and not intended to take the place of a licensed Scottsdale Real Estate Agent. The Szabo Group offers first class real estate services to clients in the Scottsdale Greater Phoenix Metropolitan Area in the buying and selling of Luxury homes in Arizona. Award winning Realtors and Re/MAX top producers and best real estate agent for Luxury Homes in Scottsdale, The Szabo group delivers experience, knowledge, dedication and proven results. Contact Joe Szabo at 480.688.2020, info@ScottsdaleRealEstateTeam.com or visit www.scottsdalerealestateteam.com to find out more about Scottsdale Homes for Sale and Estates for Sale in Scottsdale and to search the Scottsdale MLS for Scottsdale Home Listings.5 Home Staging Tips From an Expert Flipper By Joe Szabo, Scottsdale Real Estate Team
Offer great curb appeal
Pulling up to their potential new home should be a joyful experience for buyers. Give them the great first impression they’re hoping for with curb appeal that conveys a genuinely warm welcome. Stylish house numbers, updated porch lighting, a classy door color, charming outdoor seating, flowers in bloom, and a welcome mat seem like unimportant details, but they make all the difference. When a house looks cared for on the outside, it lets buyers know the inside has been maintained, too.Create ambiance
Once potential buyers step inside, give them a personal, emotional connection to the house. Remember to address all five senses:- Sight. Use flattering lighting throughout the house to brighten dark corners and create playful shadows. This includes canned lighting, floor and table lamps, hanging pendants, and under-counter spot lights.
- Smell. Create a very subtle, pleasant scent throughout the house by lighting scented candles or plugging in an aromatherapy diffuser. Citrus, vanilla, and lavender are perfect choices. Make sure the smell is subtle, not overbearing.
- Touch. Incorporate texture through textiles that entice touching, which promotes a personal connection to a space.
- Sound. Turn on quiet music, hang wind chimes, or install a water feature to relax anyone touring the house.
- Taste. It never hurts to have some cookies or a candy bowl ready! Also be sure to offer chilled bottled water.
Embrace floor space
If there’s one thing every buyer is looking for, it’s square footage. Play up every inch of it for them! To make the house feel spacious, put breathing room around monochromatic furniture, and hang mirrors to reflect windows and room openings. Hang drapes high (or don’t use them at all), place large artwork on the walls, and lay down oversized area rugs. Choose furniture raised up on legs to create a sense of lightness, and use decorative knickknacks sparingly to increase surface space. Create a distant focal point, such as a plant at the top of the stairs or a beautiful pendant light at the end of a hallway.Emphasize architectural details
Even if your house flip includes some quirky architectural details, it’s best to show them off rather than try to hide them. After all, a house’s personality is part of its charm. For example, if there’s seemingly wasted space underneath a staircase, turn it into a reading nook. If there’s a giant fireplace, dress up the mantle and arrange furniture around it. Built-ins have a special place in everyone’s heart, so if your house has them, definitely show them off!Play up a lifestyle
Remember, you’re not just selling a house, you’re selling a lifestyle. This means you shouldn’t forget to dress up the outside areas, such as the patio and backyard. If you want your buyers to feel at home, set up an outdoor dining scene, arrange lounge chairs around the pool, or hang a rope swing. By showing buyers the kind of life they could be enjoying, you’re showing them it’s worth paying to get it. Please note that this Scottsdale Real Estate Blog is for informational purposes and not intended to take the place of a licensed Scottsdale Real Estate Agent. The Szabo Group offers first class real estate services to clients in the Scottsdale Greater Phoenix Metropolitan Area in the buying and selling of Luxury homes in Arizona. Award winning Realtors and Re/MAX top producers and best real estate agent for Luxury Homes in Scottsdale, The Szabo group delivers experience, knowledge, dedication and proven results. Contact Joe Szabo at 480.688.2020, info@ScottsdaleRealEstateTeam.com or visit www.scottsdalerealestateteam.com to find out more about Scottsdale Homes for Sale and Estates for Sale in Scottsdale and to search the Scottsdale MLS for Scottsdale Home Listings.3 Reasons Painting Your Wood Floors Is Not as Crazy as You Think By Joe Szabo, Scottsdale Real Estate Team
Why paint your floors?
Style. We pretend that stained wood floors never go out of style, but they’re just as influenced by design trends as the colors on your walls or the drapes in your living room. Sure, midtone gray wood is popular now, but espresso was all the rage five years ago. Before that? Honey oak, cherry, and any number of other stain colors. If your hardwood flooring isn’t compatible with your home’s look, paint’s a great way to fix that. Dark or light tint, warm or cool hue — with paint, you can quickly align your floors with the rest of your decor. Historic precedent. Painting a floor, particularly in an old home, may seem unusual today, but it was a common and preferred way to finish floors in the past. Farmhouses from the 1800s, Victorian mansions, English estates — you’ll find painted floors in old homes ranging from rustic to ultra posh. It added color and protection to rooms and stairways prior to the development of modern wood sealants During the Victorian era, many homes were covered with paint. You can ascribe this explosion of color to the sudden mass-market availability of a wider range of hues. Builders put those new colors to work on every surface, often adding detail to a room by painting borders or patterns on the floor. Kitchens were adorned with diamond-check patterns, stairways had contrasting runners, and upstairs bedrooms were coated in pale tints to brighten them and stave off winter gloom. Practicality. Perhaps you’re ready to concede that painted floors can give your home the look you want. Isn’t it still smarter to refinish the wood? Not necessarily! Floor refinishing is a major — and majorly messy — undertaking. Sanders throw dust everywhere, so rooms must be emptied, sealed off, and deep cleaned afterward. Plus, the subsequent staining and sealing takes days of applications and drying. In comparison, painting a floor is a much quicker project — a light, low-dust sanding prior to priming, then one to two coats of paint that dry in mere hours. Additionally, there are circumstances when paint offers superior performance. Old hardwood may have already been refinished multiple times, resulting in a floor too thin to survive another sanding. Because painting doesn’t require that deep sanding, you can keep your floors rather than replace or cover them. An opaque coating can mitigate other common problems in older homes. Many older floors were patched as walls were opened up, radiators were removed, or broken planks were repaired. Paint resolves the color and grain variations from patch jobs, leaving a cleaner, more polished end product. Of course, when it comes to painted floors, the first concern people raise is scratching. But this is less of a problem than you might think. Use primer and a tough grade of paint, and you’ll likely prevent scratching or chipping. Porch paint works well in high-traffic settings, and higher sheens will dry harder than matte sheens. When you do get a scratch, you can quickly and seamlessly touch it up with a brush — something you definitely can’t do with stained floors. And like stained floors, painted wood floors can be mopped and scrubbed, with no polish required!A few tips on floor color
- Lighter is better. Brighter painted floors will reflect more natural light than brown wood.
- But not too light! Going with a true white floor can be a risky move. It will show every dark speck that drops onto the floor, along with grime and stains. Go a few shades darker to a pale gray for a similar, more practical effect.
- Black can be dramatic, but, like white, it will show dust. A deep charcoal is an effective compromise.
- Buttery yellows are traditional favorites for kitchens, mud rooms, and hallways.
- Need some interest in your formal living room or master bedroom? Try a deep green, merlot, or navy.
- Mix colors. Stick with a neutral for the bulk of the floor, and offset furniture with a colorful painted area rug. Or highlight the room’s edge with a wide stripe of color running against the baseboards.