37 per cent of buyers would be happy without this room
The National Association of Home Builders has published the results of a major study into what home buyers want from their properties. It found that single-family detached homes are still the preferred option of most buyers (65 per cent) with the baby boomers generation driving this desire.
Millennials are the generation keenest to have a basement (77 per cent) while boomers (75 per cent) and seniors (88 per cent) are most likely to want a single-story home, although 64 per cent of all buyers prefer this.
Around two-thirds of buyers want a suburban location with just 8 per cent of respondents preferring a central city location. A formal living room could become less common with 37 per cent of all buyers saying they would buy a home without the space; this rises to 43 per cent among millennials.
While the environment may be a hot topic it doesn’t trump price for home buyers it seems, with only 13 per cent willing to pay more for a home purely on environmental grounds.
Developers show off desirable ‘aria’
Developers in the competitive New York real estate market are hitting new highs in their marketing efforts. The NY Post reports that Alfa Development tempted prospective buyers to their Village Green West property with a live performance from six singers from the Metropolitan Opera. The exclusive event was also catered by the restaurant of Chelsea retailer Barneys. With prices per square foot for some of New York City’s top condos down 20 per cent year-over-year it is likely that developers and realtors will become increasingly creative in their methods to lure buyers.
Urban Land Institute to help Dallas on housing affordability
A team of experts in land use and urban planning will help the City of Dallas tackle issues of affordability in the city’s housing market. The Urban Land Institute has convened the group to consider factors such as current and future needs for the area’s housing, the extent of demand for rentals and owner-occupied housing, and the barriers to providing affordable housing in the Dallas Metro.
loanDepot partners with Orchard Platform
Mortgage lender loanDepot has announced that is has partnered with Orchard Platform to provide data into its lending and market data products. The deal will mean data on loanDepot’s mortgage and other consumer loan products being incorporated into Orchard’s indexes which are distributed to investors to provide comparison between the performance of lending products.