Thursday, March 24, 2011
Tampa Real Estate Trends for Buyers/Sellers
1. Buyers are opting for smaller homes
Constraints on housing market really have made buyers reevaluate what is necessary in their next home purchase. A study conducted by the National Association of Home Builders (NAHB) reveals that homes are expected to be ten percent smaller in the next couple of years. “To save on square footage, the living room is high on the endangered list-52 percent of builders expect it to merge with other spaces in the home by 2015 and 30 percent said it would vanish entirely.”
2. Heavy influence on purchase decisions can be swayed in favor of green and eco friendly properties
The NAHB reports that not only floor plans are changing. “68 percent of builders are including green and eco-friendly features by 2015. This includes low-E windows, engineered wood beams, water-efficient feature and energy star rating throughout.”
3. Curb Appeal is still very influential in the buyers’ willingness to buy their new home
The National Association of Realtors reports, “49 percent of buying decisions are based on curb appeal” in a normal market. Even in times of foreclosures and short sales, buyers judge whether to view a property or not by the curb appeal. Curb appeal doesn’t just affect the property being sold either; a buyer looks at the neighborhood as a whole. Improving curb appeal can be as simple as removing some weeds, retouching paint, or simply asking a neighbor to straighten their yard if you are on good terms. It may make the difference in whether you get a buyers attention or they move on the next real estate listing.
It is important as a buyer, seller, relocation, or investor to know what trends affect your real estate decision. To get in contact with a real estate expert in Tampa, Florida call SI Real Estate at (813)631-5144 or email us at YourHome@SIRealEstateInvestments.com.