Homeowners are moving less frequently than they used to. This is an interesting trend, with significant implications. So significant, that we want to hear your thoughts about it – This coming Saturday, March 21, at 10:00 am in fact.
The “rule of thumb” quoted for years by most of us in the real estate industry was that people kept their homes for 7 years on average. In fact, during the “hay-days” between 2001 and 2008, the median tenure for most homeowners was about 6 years, according to a study done by the National Association of Realtors in 2012, the most recent data available.
Since the financial meltdown, however, folks have been moving less often. In our area, anecdotally this is because many folks who would have moved up – or down – are concerned they may not be able to find a new place if they sell their current home.
Across the nation we can’t say for sure, but we do know that by 2011 the mean tenure for homeownership across the country was 13 years! A substantial jump by any measure.
Do you feel like you want more room, or less room, than you have now? What options have you considered to get what you want?
As an example, I have a small house. I put in a basement when I replaced the foundation, and moved my mechanicals (water heater, furnace, washer and dryer) down there, opening up a lot of space in the main living area. Then I put insulation and floors in the attic, and built shelving – now my junk room is upstairs!
“Right-Sizing” has become an important trend in today’s real estate world. Families need room to grow, an empty-nesters need more efficient space. But if fewer people are moving, there are many families that are not living in the size of home they want or need.
Whether you decide to buy up, buy down, expand, remodel or just simply organize better, with a little foresight, some intelligent planning and maybe some guidance you can live in exactly the space you need and want.
Come to a right-sizing discussion on Saturday, March 21, from 10:00 AM – 12:00 Noon in the Silicon Valley Business Center. To RSVP, please click here. Space is limited to the first 30 respondents.
For more information, please call me at (408) 348-3442 or email me at email@example.com.
My partners in this discussion are Grace Rudawski and Eric Rudawski of Intero Real Estate. Grace is a long time pro of many years and a certified seniors advisor, and Eric is relatively new to the business and brings a fresh millenial outlook to the discussion. You may reach Grace and Eric at (408) 832-2294 or firstname.lastname@example.org.
As an incentive, we are working together to make available a limited number of my books at no charge to attendees. This is a $22 value (on Amazon) just for showing up and sharing your thoughts!
See you there!