“Beautiful,” “ocean views,” “mountain views” and “gated community” are among the most popular keywords used to advertise homes online to West Coast home buyers, a recent study shows.
Nationwide, “beautiful” was the most frequent word in listings last year, according to a study of 300,000 listings conducted last year by Point2Homes, an online listing and property data portal.
“Hardwood floors” took the No. 2 spot and “stainless-steel appliances” came in third.
Among regional differences, East Coast listings were more likely to include the phrases “move right in,” “renovated” and “gleaming hardwood floors.”
In the New York City area, “closet space,” “sunny” and “oversized windows” were words used by agents whose homes sold fastest. Such features would appeal to buyers in cold-weather climates with winter coats to store and a dearth of sunshine.
Adjectives play a role. “Soaking tub” had more appeal than “bath tub,” and “private storage” topped “public storage.”
And terms differed by price point. “Beautiful” attracted average-income home buyers, but “private” appealed to the wealthy. Other terms used in the $5-million and up segment of the market included “guest house,” “wall of windows” and “wood-burning fireplace.”
SubZero topped the list of preferred brands, followed by Viking, Miele, Bosch and Whirlpool.
Meredith Galante | Nov. 13, 2012, 1:02 PM |
“Wake up and smell the coffee,” writes Michael Corbett, Trulia’s real estate expert and and host of NBC’s “Extra’s Mansions & Millionaires!” in his book Before you Buy! The Homebuyer’s Handbook for Today’s Market.
He’s talking about big chains such as Starbucks and Whole Foods. If you see them opening in a new neighborhood, it’s a sign that the neighborhood is up-and-coming, and therefore a smart real estate bet.
One of the best ways to stretch your buying dollar is to find a neighborhood that is in transition. Called fringe or transitional neighborhoods, they are typically close to major metropolitan areas and were once neglected and less desirable. Is there a trendy restaurant where a tattoo parlor used to be?
These neighborhoods are now beginning to enjoy a new life and your goal is the find them.
Has a Starbucks just opened on the corner or maybe a Whole Foods Market? These are all good signs that a neighborhood is on the upswing. You can bet that big chains like Starbucks spend a lot of money and time analyzing neighborhood potential before they open up a new store. So go ahead, tap into their market research and be their neighbor.
Home values fell for the first time in nine months, declining 0.1 percent from July to August, according to the Zillow’s August Real Estate Market Reports, which were released today.
But that shouldn’t be too worrisome, said Zillow Chief Economist Dr. Stan Humphries.
“Home values took a small hit in August, but this shouldn’t be cause for alarm,” he said. “The back half of the year is always softer than the front half, and this year is no exception. We’ve been encouraging folks to focus on the longer term trends and not monthly blips. Home values will rise a little and fall a little, month by month, in the near future, but we believe the overall trend will remain positive albeit still below normal rates of appreciation.”
Major markets that saw home values edge downward from July to August after experiencing prior increases included the Chicago (-0.7 percent), New York (-0.3 percent) and Boston (-0.2 percent) metros. Home values continued to climb in the Phoenix (1.6 percent) and Miami-Ft. Lauderdale (1 percent) metros, although the rate of increase was smaller in August.
On the rental side, U.S. rents continue to rise, climbing 0.2 percent month-over-month and 5.9 percent annually. For more information on August’s report, head to the Zillow Research page.
What are home values and rents doing where you live? Dive into Zillow’s data, available all the way down to ZIP code and neighborhood levels, here.