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Renters Share Their Perspectives On Home Buying

Renters Respond With Their Concerns and Thoughts on The Market

Real Estate Market Consumer sentiment survey - Renters

Berkshire Hathaway HomeServices’ Homeowner Q4 2016 Sentiment Survey also asked renters about their perspectives on homeownership. Many said they’ve been renting homes for longer periods than originally planned.

Those renting for a year to three years said their largest challenge is saving money for a down payment. Prospective homeowners renting from three to five years said their primary hurdles include finding a suitable home, trying to save money and getting a good interest rate on a loan. Those renting for six years or more expressed more concern about the U.S. economy.

Besides saving for a down payment, 37% of millennial renters indicated they are interested in buying only when they’re ready to afford their dream home, signaling that they find the concept of a “starter home” less desirable than previous generations.

Renters who said they could not buy a home listed poor credit scores and strict lender guidelines as their principle hurdles.

Renting stats graph

Berkshire Hathaway HomeServices Consumer Sentiment Survey Methodology

Interviews with 2,521 respondents were conducted online by Edelman Intelligence in June 2016. The respondents captured were either current homeowners (individuals who currently own a home as a primary residence) or prospective homeowners (individuals who do not currently own a home and are likely to buy a home as their primary residence in the next six months). The margin of error is +/-2.2% for current homeowners and +/- 4.4% for prospective homeowners.

ABOUT BERKSHIRE HATHAWAY HOMESERVICES NEVADA PROPERTIES

Berkshire Hathaway HomeServices Nevada Properties is a part of Americana Holdings, which also includes Berkshire Hathaway HomeServices Arizona Properties and Berkshire Hathaway HomeServices California Properties. The firms are leaders in their respective markets with 25 offices and 2,200 agents, comprising the largest independently owned Berkshire Hathaway HomeServices franchise in the world. Combined, the companies sold $3.1 billion in real estate in 2015.

In 2014, Berkshire Hathaway HomeServices was named “Real Estate Agency Brand of the Year” by consumers in the 26th annual Harris Poll EquiTrend® study of the largest real estate networks. Berkshire Hathaway HomeServices has 54,000 agents in 1,600 offices around the world. For more information, visit www.bhhsnv.com or call 702-796-7777.

 

About Berkshire Hathaway HomeServices and HSF Affiliates LLC

Berkshire Hathaway HomeServices, based in Irvine, CA, is a real estate brokerage network built for a new era in residential real estate. The network, among the few organizations entrusted to use the world-renowned Berkshire Hathaway name, brings to the real estate market a definitive mark of trust, integrity, stability and longevity. Visit www.berkshirehathawayhs.com.

Irvine, CA-based HSF Affiliates LLC operates Berkshire Hathaway HomeServices, Prudential Real Estate and Real Living Real Estate franchise networks. The company is a joint venture of which HomeServices of America, Inc., the nation’s second-largest, full-service residential brokerage firm, is a majority owner. HomeServices of America is an affiliate of world-renowned Berkshire Hathaway Inc.

Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, and are used under license with no other affiliation with Prudential.

Media Contacts:

Sarah Thornton

(702) 796-7777

sarah@sarahthorntonpr.com

 

Kevin Ostler
(949) 794-7980

kevinostler@hsfranchise.com

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Consumers’ Perception of U.S. Housing Gains Ground

Boomers Make Noise While Millennials Exercise Patience in Quest for Homes

Homeowner survey - Real Estate Market

[Las Vegas, NV] (August, 24, 2016) — Berkshire Hathaway HomeServices, part of the HSF Affiliates LLC family of real estate brokerage franchise networks, and Berkshire Hathaway HomeServices California Properties today released results of its latest Homeowner Sentiment Survey indicating that current and prospective homeowners remain optimistic about the current state of the U.S. real estate market. Respondents cite higher home values, increasing housing inventory and low interest rates as the main reasons for their optimism.

The survey showed that 66% of existing homeowners view the U.S. real estate market favorably, representing a 5-percentage point jump since spring to the highest level in more than a year. Favorability also grew most among baby boomers, who are making noise with a newly favorable attitude toward the housing market. To date, boomers have been the most pessimistic group tracked in the ongoing survey but the latest results reveal a full 60% of boomers view the housing market favorably, a 6-point increase since last spring.

“We find this data particularly interesting in light of the housing-inventory shortage seen in many markets,” said Gino Blefari, CEO of Berkshire Hathaway HomeServices. “As homeowners feel increasingly confident about the outlook of housing and their homeownership investments, they are more likely to consider a move for themselves – up, down or laterally to another market. Perhaps this is a signal that more existing homes may gradually come to market freeing up more options for first-time and move-up buyers.”

Millennials Are Most Optimistic

Among all respondents, millennials are most optimistic about the real estate market and are the most satisfied with the U.S. economy. In fact, 76% of respondents ages 18 to 34 view housing favorably, up a point from last spring and a full 17 percentage points from November. A large majority of millennials (85%) also believe that owning a home is an important part of the “American Dream,” a sentiment shared with older generations.

Mortgage rates remain low but how low is up to interpretation. Just 13% of millennial respondents described loan rates as “low” while 53% categorized them as “average.” Additionally, millennials indicated that their biggest challenge in purchasing a home is securing a low mortgage rate. Gen-Xers said their largest barrier to homeownership is saving money for the purchase, while boomers – in concert with their growing confidence – said their biggest challenge is “finding a home that suits their family’s wants and needs.”

The possibility of rising mortgage rates remains a concern among all demographic groups surveyed. Not surprisingly, 81% of prospective homebuyers expressed concern about rate increases. “Mortgage rates have been low for so long it’s only reasonable for rates to rise a little at some point down the road,” said Stephen Phillips, president of Berkshire Hathaway HomeServices. “If and when rates do rise, it’s also reasonable to expect only a gradual increase over time – no rate shock.”

Q4 survey - feelings on RE graph

 

Berkshire Hathaway HomeServices Consumer Sentiment Survey Methodology

Interviews with 2,521 respondents were conducted online by Edelman Intelligence in June 2016. The respondents captured were either current homeowners (individuals who currently own a home as a primary residence) or prospective homeowners (individuals who do not currently own a home and are likely to buy a home as their primary residence in the next six months). The margin of error is +/-2.2% for current homeowners and +/- 4.4% for prospective homeowners.

ABOUT BERKSHIRE HATHAWAY HOMESERVICES CALIFORNIA PROPERTIES

Berkshire Hathaway HomeServices California Properties is a part of Americana Holdings, which also includes Berkshire Hathaway HomeServices Arizona Properties and Berkshire Hathaway HomeServices Nevada Properties. The firms are leaders in their respective markets with 25 offices and 2,200 agents, comprising the largest independently owned Berkshire Hathaway HomeServices franchise in the world. Combined, the companies sold $3.1 billion in real estate in 2015.

In 2014, Berkshire Hathaway HomeServices was named “Real Estate Agency Brand of the Year” by consumers in the 26th annual Harris Poll EquiTrend® study of the largest real estate networks. Berkshire Hathaway HomeServices has 54,000 agents in 1,600 offices around the world. For more information, visit www.bhhsnv.com or call 702-796-7777.

 

About Berkshire Hathaway HomeServices and HSF Affiliates LLC

Berkshire Hathaway HomeServices, based in Irvine, CA, is a real estate brokerage network built for a new era in residential real estate. The network, among the few organizations entrusted to use the world-renowned Berkshire Hathaway name, brings to the real estate market a definitive mark of trust, integrity, stability and longevity. Visit www.berkshirehathawayhs.com.

Irvine, CA-based HSF Affiliates LLC operates Berkshire Hathaway HomeServices, Prudential Real Estate and Real Living Real Estate franchise networks. The company is a joint venture of which HomeServices of America, Inc., the nation’s second-largest, full-service residential brokerage firm, is a majority owner. HomeServices of America is an affiliate of world-renowned Berkshire Hathaway Inc.

Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, and are used under license with no other affiliation with Prudential.

Media Contacts:

Sarah Thornton

(702) 796-7777

sarah@sarahthorntonpr.com

 

Kevin Ostler
(949) 794-7980

kevinostler@hsfranchise.com

Posted in BHHS Nevada Properties Blogs and Videos, Las Vegas Real Estate Blog, Las Vegas Real Estate Market, Las Vegas Real Estate News, Press Releases | Tagged | Leave a comment

Buying OR Renting- It’s not just about the money.

Should you be thinking about buying a home over Renting?

Buying vs Renting your home

With rents are increasing and predicted to keep increasing into 2017 there is a lot of talk about why it can be a better idea to buy a home instead of rent.

But it’s not just about the money when deciding to buy over rent. When you buy, you gain more flexibility with what you can do to your own property. Paint the wall, make improvements and additions all of these option open up without the added expanse of having to change them back when you end your lease.

When you buy you get control of how long you want to live in your home. You don’t have to worry about resigning leases, or rent increases. You also don’t have to worry about added fees for furry additions to your life!

When you rent a home no matter what happens with the value of that home you will never gain equity in it. You also don’t get to enjoy any of the tax advantages the come with home ownership.

If you are interested in finding out more of the benefits to home ownership contact one of our REALTORS® for a free consultation to see what your options are. They might be more than you think.

Click here to find a local REALTOR®

Posted in Buying Las Vegas Homes, Las Vegas Real Estate Blog, Las Vegas Real Estate Market, Las Vegas Real Estate News, Press Releases | Tagged , | Leave a comment

David Copperfield Purchases Most Expensive Home Ever Recorded in Las Vegas From Berkshire Hathaway HomeServices Team

Berkshire Hathaway HomeServices Nevada Properties Luxury Team the Shapiro & Sher Group brokered the most expensive home purchase ever recorded in Las Vegas.

David Copperfield property sale

David Copperfield purchased the most expensive home ever recorded in Las Vegas. With more that $4 Billion in ticket sales the Emmy award-winning entertainment icon has become world-famous for his work as an illusionist. Now, in another exciting move Copperfield is the new owner of a 31,000 square-foot residence in the Las Vegas’ Summerlin community, Enclave Court- valued at $17.55 million.

Design by Scottsdale’s famed Swaback Partners this estate is a four-story mansion made up of mostly steel and concrete. Even the front door is an impressive at 18 feet tall and weighing 2,000 pounds. Inside the Copperfield estate enjoys eight bedrooms, two separate guest homes, an office, a full glass gym, glass wine cellar, full-service spa facilities, a night club, three antique arcade exhibit rooms, a golf simulation room, two commercial elevators and a movie theater.

Featuring and indoor-outdoor lifestyle disappearing glass doors open the home up to a resort-style infinity four-edge pool, interior Zen garden, lush tropical landscaping, and a 6,177 square foot garage with a detailing room for exotic cars.

“This is the largest individual home sale ever recorded in Southern Nevada,” said Mark Stark, CEO of Berkshire Hathaway HomeServices Nevada Properties. “Ivan Sher, Florence Shapiro and the team at Shapiro & Sher Group represent the top-selling residential real estate team in Nevada. Their level of sophistication when it comes to marketing and selling luxury homes is unsurpassed in the industry.”

The Shapiro & Sher Group represented both the buyer and seller in this amazing purchase.

www.lasvegasfinehomes.com or call 702-315-0223.

Posted in Las Vegas Real Estate Blog, Las Vegas Real Estate Market, Las Vegas Real Estate News, Press Releases | Tagged , , | Leave a comment

Is your home worth MORE than you think?

You most likely have more Equity than you think.

Is your home worth more

More equity means more opportunity to sell your house and buy a home that is better suited to your needs.

37% of homeowners think they  have more than 20% in equity while the more accurate number is 74% of homeowners with more than 20% equity. You could be one of these people. Contact a REALTOR®  for a free home valuation that will tell you how much equity is really in your home and allow you to start making plans to move to your dream home in 2016.

Click here to find a REALTOR®

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Almost 44,000 of Life Saving Water Raised for the Las Vegas Rescue Mission

Berkshire Hathaway HomeServices Nevada Properties Water Drive A Success.

NV water drive winFor the 4th year in a row Berkshire Hathaway HomeServices Nevada Properties Real Estate agents participated in their Water Drive to gather much needed bottles of water for the Las Vegas Rescue Mission.

Thanks to all of you for the generous donations of water. Almost 44,000 bottles of water were delivered by Red Carpet Movers to the Rescue Mission on a very hot day. With temperatures in the triple digits, this water is always appreciated and will be distributed to the local homeless.

A special kudos to the Sahara Office this year who donated an amazing 21,184 bottles or 81 bottles per agent/staff!

The object of this water drive, as always, was to give back to those in the community less fortunate. Once again, you opened your hearts and wallets to those in need. We are so very proud to be a part of this amazing Berkshire Hathaway HomeServices Nevada Properties family. We look forward to trying to beat this number in 2118!

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Mortgage Rates Through The Decades

Do you know where Mortgage rates are at compared to the past?

Mortgage Rates through the decades

In December, the Federal Reserve raised interest rates by 0.25%. Many potential home buyers are frightened by this news, assuming mortgage rates will also increase and they will be unable to afford a home in this year. However, mortgage rates are tied to the bond market, not the Fed’s interest rate, and experts predict little to no increase in mortgage rates in 2016.

Currently, rates are the lowest they have been in decades, making the purchase of a new or first home a fantastic resolution for many in 2016.

A local REALTOR® can help answer your questions about the real estate market:

• How to find qualified buyers for your home?
• What are your qualifications for buying a new home?
• How much is your home is worth?

To find a REALTOR for your community Click Here

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Home prices are climbing. Why should you?

If you are near retirement and looking for ways to cut expenses, downsizing to a smaller home is a great option worth considering.

Tired of the Climb

Once the kids have moved out, you probably don’t need all that extra space anymore. Or if you have joined the new generation of road warriors traveling through out the year in your new RV it might not be so important to have a large home.  Luckily, the housing recovery is starting to pick up and home prices are growing fast. Downsizing to a smaller home is a great way to save more money.

Here are 4 reasons to consider:

Less expense: Lower mortgage, lower taxes & lower utility bills
Less home: Less maintenance, less cleaning, less repairs
Safety: Falling is the leading cause of unintentional injury at home
Less is more: Having less of a home can be liberating & give you more time to do what you enjoy!

Call one of our REALTORS today to explore your downsizing options. Click Here to find a list of real estate agents in your community.
Interested in what’s going on is your community?
Click here to get complimentary Market Watch report on the most current prices, listings and real estate trends in your market emailed to you.

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Home Improvements That Pay off

Not all Home Improvements are created equal when trying to add value to your home.

Home Improvements That Pay Off

There are two types of improvements you can do to your home. Improvements that add enjoyment for yourself or your family but might not necessarily add value to your home and improvements are made specifically to add value to your home.

Home improvements that add more curb appeal and make it easier for home buyers to actually see your home will always help to add value to your home and make it easier to sell. Replacing doors, adding decks or porches, and cleaning up landscaping will bring you a good return on the money you invest into your property.

Re-purposing unused spaces into livable areas or adding square footage to your home by adding an additional room are other great options for home improvements that will bring more market dollar when you finally make the decision to sell.

It is important to keep these difference in mind when you are thinking about adding improvements to your home so you see the best returns on the money you invest in your property and when you speak with a REALTOR® about pricing your home to sell.

 

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