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Home Buyers | Biggs Realty Blog

Thursday, August 19, 2021   /   by Kenneth Brands

Are Millennials Buying Homes In The DFW Metroplex?

There’s a common misconception that younger generations aren’t interested in homeownership. Many people point to the fact that millennials put off purchasing their first home as a reason for this belief.
Odeta Kushi, Deputy Chief Economist for First American, explains why millennials have put off certain milestones linked to homeownership. Those delays led to their homeownership rates trailing slightly behind older generations:
“Historically, millennials have delayed the critical lifestyle choices often linked to buying a first home, including getting married and having children, in order to further their education. This is clear in cross-generational comparisons of homeownership rates which show millennials lagging their generational predecessors.”
So, it’s partially true that some millennials have waited on homeownership to focus on other things in their lives – and that’s impacting certain! ...

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Sunday, July 25, 2021   /   by Kenneth Brands

10 Design Trends You'll See This Year

Interior design has a fresh look! After years of subtle trend changes, this years' style gets a complete makeover. Spaces are being lightened, softened, and eclectic merging of styles encouraged. If you’re ready for a change, the good news is... almost anything goes! Find the trend that suits you and experiment with new textures, colors, and styles! 
1. Home Office – Not surprisingly, homeowners are carving out specified office and workspace.
2. Separated Rooms – The open floorplans are not exactly gone, but new designs are separating spaces into separate areas.
3. Houseplants and Indoor Gardens – Herb gardens and houseplants offer a soothing, natural environment.
4. Rattan – Natural materials are having a huge moment and rattan furniture and accents are everywhere.
5. Wood Grain – Furniture and cabinets with strong wood grain warm up living and kitchen areas.
6. Playgrounds – Backyard playgrounds have been taken to the next lev. ...

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  interior design trends, new home buyers, real estate design trends, updating your home

Monday, July 5, 2021   /   by Kenneth Brands

6 Upgrades Millennial Buyers Pay More For – and 1 Exception

Home sellers assume they must make some upgrades before putting their home on the market. While any deferred maintenance or extreme wear-and-tear issues should be addressed, major upgrades or updates may not net more money when you sell; especially with millennial buyers, who are looking for their first home in droves.
6 Common Upgrades Millennial Buyers Won’t Pay Extra For – and 1 They Will
1. Professional Landscaping – Although a nicely maintained yard is attractive to all buyers, over-the-top landscaping with special hardscapes or fountains will not appeal to millennials.
2. Upgraded Utilities – You may appreciate the new plumbing, but buyers will not pay more for copper or PEX pipes or the brand-new junction box.
3. HVAC – Again, new systems are appreciated, but buyers won’t offer more for the latest systems.
4. New Roof – A leaking roof will certainly lower the sales price but replacing one will not have the opposite effect.
5.; ...

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  biggs realty, sellers, tips for sellers, home buyers, tips for buyers, plan of action for home buyers, dallas real estate, listing agent, market update, real estate investment

Thursday, July 1, 2021   /   by Kenneth Brands

Buyers and Sellers – Stay Focused on Your Goals!

Buying or selling a home can be stressful, even in normal times. Right now, when the housing market is moving at a frenetic pace, both buyers and sellers are making quick decisions and are feeling extreme pressure. As the tension rises, it can be easy to overlook the end goal; right-sized home, relocation, dream home, etc. Try not to lose focus! 
Buyer Challenges
Facing a very tight inventory of available properties, buyers have limited time to arrange to tour homes and knowing they must make a quick decision once they have. Buyers do not have the luxury of a second look or hesitation and often are competing against multiple offers, adding to the pressure.
Seller Challenges
Sellers are also feeling the challenge of the frantic pace. While it is nice to have multiple offers from which to choose, the fact that the offers are at times being made sight-unseen means that some of the offers may not be the buyer’s first choice and they could lose a “real” offer b. ...

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  biggs realty, sellers, tips for sellers, home buyers, tips for buyers, plan of action for home buyers, market update, real estate investment, listing

Friday, June 25, 2021   /   by Kenneth Brands

Can Expensive Still Be Affordable?

Real estate prices across the country have increased dramatically in the past year. With increases in the 10-12% range, many potential homebuyers have given up and decided that homes are just too expensive to consider. While homes have become more expensive, it does not mean they are unaffordable.
Would you believe that we are experiencing a historically favorable market for buyers when it comes to affordability? Why? This is because affordability involves more than just the purchase price of the home. When considering whether you can afford a home, you must include wage growth and interest rates.
Interest rates are among the lowest we’ve seen in decades. In addition, wages are increasing at a staggering 7% rate year-over-year. For example, a median household income of $68,000/year with a 7% wage growth, will see an extra $400/month.
The median home price is about $325,000. If we add a 10% growth factor to this, that same home would sell for $357,500. At a 3.5% interest rat! ...

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  biggs realty, sellers, tips for sellers, home buyers, tips for buyers, dallas real estate, market update