#HomebuyingTrend Purchasing Larger Homes

Home buyer demographics change slightly from year to year due to macroeconomic forces from the health of the economy to inflation to the global trade on oil prices. The National Association of REALTORS® recently released its 2015 Profile of Home Buyers and Sellers report and there are some interesting new trends emerging this year. One of the most fascinating is that in almost every region of the United States, we saw buyers trading up and buying bigger homes than last year. According to the new report, 42 percent of all buyers traded up in the size of their home, up from 40 percent in 2014. In the 2014 report, buyers reported that they were looking for homes similar in size at 31 percent compared to 29 percent in 2015. Regionally, the percentage of buyers looking for larger homes increased across the board.

One reason for this shift in purchasing power is that people finally have more equity from selling their previous homes in order to buy a bigger one. Since the housing downturn in 2010, many homes were worth less than their mortgages. Over the last several years, home prices have been rising. In 2014, 17 percent reported waiting or stalling to sell their home, which dropped to 13 percent in 2015. Sellers also reported that they sold their homes for a median of $40,000 more than they purchased it, up from $30,100 in 2014. The most common reason for selling a home in 2015 was that the home was too small at 16 percent.

The typical seller in 2015 was 54 years old (same as last year) and the median household income was $104,000, up from $96,700 in 2014. Buyers aged 35 to 44 years, or Generation X, was the second largest age group to purchase homes last year at 20 percent, behind Millennials 34 years or young where 28 percent purchased homes. We can speculate that Generation X-ers probably had a child in the last few years and wanted a bigger home to expand their family. Finally, we see the trend where repeat buyers have been able to sell their homes at a higher price in order to trade up and purchase larger homes.

Just Listed! Oregon Vineyard w/ Event Center & Tasting Room

Located in scenic Myrtle Creek, Oregon, this 27+ acre riverfront property features a ~19 acre vineyard, large event center, gorgeous tasting room with kitchen, single-family home, and large greenhouse. Vineyard with water rights boasts a variety of grapes including Tempranillo, Chardonnay, Cabernet Sauvignon Merlot and Sangiovese. Renovated barn and event center has light, open-beamed ceilings and expansive areas for serving food and beverages – ideal for weddings and formal events! Charming tasting room with bar, seating area and adjacent bathroom. Newer 300 square feet deck overlooks the South Umpqua River and provides panoramic river views, making this vineyard perfect for hosting large group events.

Offered at $1,900,000

Co-Listed with Leslie Beck & Ward Beck, Windermere Real Estate

For more information, go to http://www.jakeralston.com/listing/scenic-oregon-vineyard-w-event-center-tasting-room/

Just Listed! Oceanfront Land Along Oregon Coast

Now Available! Spectacular Pacific Ocean waterfront building site with one of a kind panoramic views west to the Pacific Ocean and South to Baker's Beach and all the way to Florence jetty. One of the only ocean front building sites on acreage on the entire West Coast. Over 500 feet of ocean frontage with 2 distinct portions separated by a ravine and private stream. 1 mile from scenic Sea Lion Caves.

Offered at $1,990,000

Co-Listed with Leslie Beck, Windermere Real Estate

See more at http://www.jakeralston.com/listing/just-listed-ocean-front-land-on-oregon-coast/

Falling For Your #DreamHome

Some Highlights:

• 24% of all recent home buyers were single at the time of purchase
• 47% of single men cite the desire to own a home of their own as the primary reason to buy
• 18% of first-time buyers were single women

#HappyThanksgiving

Why You Should Sell Now Before Winter Hits

People across the country are beginning to think about what their life will look like next year. It happens every Fall. We ponder whether we should relocate to a different part of the country to find better year-round weather or perhaps move across the state for better job opportunities.

Homeowners in this situation must consider whether they should sell their house now or wait. If you are one of these potential sellers, here are five important reasons to do it now versus the dead of winter.

Just Listed! Build Your Ocean View Dream Home in Hope Ranch!

Incredible opportunity to build your ocean view dream home in Hope Ranch, Santa Barbara! Never before on the market, this gently sloping 2.35 acre ocean view parcel includes a water meter and recently completed soils report. Hope Ranch offers an exclusive lifestyle with privacy, a sense of community, access to miles of pristine beaches, tennis courts and 22 miles of bridle trails. All of this is just minutes from vibrant downtown Santa Barbara.

Offered at $2,000,000

10 #BohoChic #InteriorDecorating Ideas

Colorful, luxurious and versatile, Boho chic style is perfect for spacious home interiors and small rooms. Boho chic ideas can help add luxury to small rooms, and create inviting and cozy home interiors in spacious living spaces. Here are some inspiring Boho chic ideas for modern interiors decorating and interior redesign in small spaces.

The Importance of #HomeEquity To Your Family

There has been much written about how dramatically home values have increased over the last several years. With the increase in values, comes an increase in the equity each home owning family now has. The Joint Center of Housing Studies at Harvard University recently reported that, after taking inflation into account, aggregate home equity has increased 60% since 2010. Home equity is the major component of most family’s overall wealth.

Why is this so important?

Throughout history, families have tapped into their homes for many important reasons. Perhaps it was to get seed capital to start a new business; perhaps to help finance their children’s college education; perhaps to get needed medical attention not covered by insurance.

Up to ten years ago, families were able to use the equity in their homes to better the living situation for themselves and their family. More small businesses were created. College students weren’t forced to take on massive student debt. People could get needed medical care.

This hasn’t been the case over the last ten years as families found themselves in a position of having zero equity or, even worse, negative equity post the housing collapse. However, that is about to change.

Using your home as an ATM is not a good idea.

We realize that there are inherent risks to tapping into the equity in your home especially if you do it for the wrong reasons. Back in 2005-2007, homeowners were using their homes as their own personal ATM machine to buy depreciating assets like cars, boats and jet skis. This reckless behavior should never be repeated.

However, using your equity (aka family wealth) to invest in yourself, your children or other family members that could use help still makes sense. And the good news is that more and more families can do this as home values continue to increase.

Bottom Line

Home equity gives families an additional financial option when money is needed. The proper use of this family wealth can be used to grow generational wealth.

As Julián Castro, U.S. Secretary of HUD, recently explained:

“Generation after generation, the primary vehicle to create wealth in our country has been through homeownership. In the U.S., homeownership has provided an opportunity for one generation to hand over to the next that opportunity and that wealth.”

UCSB Welcomes Amazon.com Storefront: Amazon@IslaVista

Last Wednesday, UC Santa Barbara's beachside college town, Isla Vista, saw the opening of Amazon@IslaVista, an Amazon.com storefront that provides secure lockers for online orders. Amazon, the country's number one Internet retailer, is especially popular amongst college students, who order everything from snacks to clothes to college textbooks through the site. The new storefront is expected to increase security and reduce theft, a common occurrence in the small town where packages may be left unattended for hours at a time. Similar to long-term post office boxes, the Amazon storefront allows shoppers to select an Amazon locker for delivery rather than opting to receive a package delivery at home. Upon delivery, customers will receive a notification along with a personalized code for the locker. They then have up to five days to pick up the package before it is returned to the Amazon warehouse.

For students living on the UCSB campus or in Isla Vista, the new storefront will create a smoother and more secure shopping experience. This is especially true for students still living in on-campus dorms, whose packages are often left in common areas until the student returns to their room. For students with Amazon Student or Amazon Prime accounts, Amazon@IslaVista is also the first location to offer same-day delivery for eligible items - a game-changer for college kids who may have forgotten to order a textbook on time.

UCSB is one of several college campuses around the nation to provide a nearby Amazon storefront. While there are certain limitations to the store, such as restrictions on package size and weight, the store is expected to provide enhanced security and an easier shopping experience for the Isla Vista community.

#Homeownership #BuildWealth and Stability

The most recent Housing Pulse Survey released by the National Association of Realtors revealed that the two major reasons Americans prefer owning their own home instead of renting are:

1. They want the opportunity to build equity.
2. They want a stable and safe environment.

Building Equity

In a recent article, John Taylor, CEO of the National Community Reinvestment Coalition, explained that those who lack the opportunity to become homeowners have a weakened ability to reinvest their wealth:

“We traditionally have been huge supporters of homeownership. We see it as a way to provide stability for households but also as an asset-building strategy. If you continue to be a renter, locked out of the homeownership arena, increasingly those things are further and further out of reach. They’re joined at the hip. They perpetuate each other.”

Family Stability

Does owning your home really create a more stable environment for your family?

A survey of property managers conducted by rent.com last month disclosed two reasons tenants should feel less stable with their housing situation:

• 68% of property managers predict that rental rates will continue to rise in the next year by an average of 8%.
• 53% of property managers said that they were more likely to bring in a new tenant at a higher rate than negotiate and renew a lease with a current tenant they already know.

We can see from these survey results that renting will provide anything but a stable environment in the near future.

Bottom Line

Homeowners enjoy a more stable environment and at the same time are given the opportunity to build their family’s net worth.

5 Ways To #ConvertYourBathroom Into A #SpaOasis

Imagine coming home from a hard day at work, stepping into the bathroom, and feeling all of your worries fade away as you soak in the tub or stand under a warm stream from a waterfall showerhead. The right décor and design can make taking a bath or getting ready for your day in your bathroom feel like stepping into your very own, private day spa. Sounds pretty good, right?

Here are a few wonderful tricks for giving yourself a mini-vacation every time you step into your bathroom.

1. Choose a relaxing shade of paint. 

Think about the shades of paint you see when you go to a day spa. They’re almost always neutral, unsaturated colors that help you feel relaxed. I prefer grays and rich browns for bathrooms, but a cool, cucumber green is also a nice choice. Whatever shade you choose, go with a washed-out, subtle version instead of a really bright and stimulating tone.

2. Decorate with scents. 

Next, scent is a huge part of the relaxing experience when you go to the spa. A candle, some dried lavender in a sachet, or a few drops of your favorite essential oil mixed with Epsom salts in a warm bath can transport you to a completely different place in your mind every time you set foot in your bathroom.

3. Have soft lighting.

If you’re remodeling your bathroom, get rid of any harsh fluorescent lights and replace them with warmer, softer lights. You’ll still want to get enough light to do makeup and check your outfit when you get ready to go in the morning, so install brighter lights over the mirror. But make sure that they operate on a separate switch from your other lights so that you can maintain a soothing atmosphere when you shower or soak in the tub.

If you’re not remodeling or changing out light fixtures, you can get a similar effect by placing a few candles around your bathroom to give it a warm and calming atmosphere with all of the lights turned off. You can also experiment with different shades for your light fixtures to help cut the harshness of the light.

4. Upgrade your fixtures.

If your fixtures are a little bit out-of-date, you have a choice. You can upgrade them, which can mean going with a better showerhead (which I definitely recommend). Or, if you’re happy with how your fixtures work but they don’t quite look right, you can improve their looks with a little bit of spray paint. Choose a complementary textured paint to give your bathroom fixtures a whole new look and feel.

5. Coordinate your linens and toiletries.

If you really want to give yourself a home-spa experience, you’ll want to wrap yourself in luxury whenever you step out of the tub, and you’ll want to have a coherent and cohesive look to the room, too. Go ahead and invest in towels, washcloths, and a bath mat that are soft and fluffy and that match the color you’ve chosen for your walls. Upgrade your shower curtain to complement these and add a few matching or complementary toiletries.

You’ll have a room that looks, feels, and smells absolutely amazing every time you enter it.