The Lawhead Team would like to share the latest “One Cool Thing” from the California Association of Realtors about Tech-Smart Home Buyers.

More than three quarters of house hunters say technology has made them smarter home buyers. They consider and use technology in both searching for a home and interacting with Realtors®:

• 37% read profiles of real estate agents online
• 74% say they think it’s important their agent is tech-savvy
• 89% use online resources during the home buying process.

The top three ways tech-smart buyers are using online tools to find homes:

• 83% scan real estate listings
• 72% use maps to explore neighborhoods
• 71% use email, apps, and websites to submit documents to lenders

Are you looking to buy or sell your home? How important is “tech-smart home buying” to you when it comes to buying or selling a home?

Source: Discover Financial Services Survey

The Lawhead Team shares the latest “One Cool Thing” from the California Association of Realtors about buyers and sellers’ customer satisfaction when it comes to buying a home.

Several criteria determine how buyers and sellers select a real estate firm.

Buyers who chose a real estate firm based it on:

• 30% reputation
• 21% past experience with the agent and/or salesperson
• 24% recommendation

Sellers who chose a real estate firm based it on:

• 35% reputation
• 25% past experience with the agent and/or salesperson
• 21% recommendation

Overall satisfaction with real estate companies is higher among repeat clients (buyers and/or sellers) compared with new clients.

Article from California Association of Realtors® “One Cool Thing”. Source: JD Power 2014 Home Buyer/Seller Satisfaction Study

The Lawhead Team would like to share the latest One Cool Thing from the California Association of Realtors about the value of a remodel.

A recent resurgence of several big ticket projects including attic bedroom and basement remodels with average prices tags of $49,438 and $62,834, respectively, shows that consumers are signaling confidence in the value of remodeling.

What are their home remodel projects of choice?

Attic Bedroom Remodel:

72.9% remodeled their attic bedroom in 2013.

84.3% remodeled their attic bedroom in 2014.

Deck Addition:

77.3% built a deck addition in 2013.

87.4% built a deck addition in 2014.

Home Office Remodel:

43.6% added a home office in 2013.

48.9% added a home office in 2014.

Bathroom Remodel:

65.2% remodeled their bathroom in 2013.

72.5% remodeled their bathroom in 2014.

Basement Remodel:

70.3% remodeled their basement in 2013.

77.6% remodeled their basement in 2014.

The Lawhead Team would like to share the latest “One Cool Thing” from the California Association of Realtors about home buyers optimism going up:

The home-buying process may be longer this year, and buyers may be up against multiple offers, but their long-term optimism about home prices in their new neighborhoods has gone up, up, up!

Buyers who say prices will increase over the next 5 years:

• In 2009 35% of buyers said prices would increase over the coming 5 years.
• In 2010 52% of buyers said prices would increase over the coming 5 years.
• In 2011 46% of buyers said prices would increase over the next 5 years.
• In 2012 41% of buyers said prices would increase over the next 5 years.
• In 2013 60% of buyers said that prices would increase over the next 5 years.
• And, in 2014, 81% of buyers said prices will increase over the next 5 years.

That being said, the percentage of buyers who assumed properties would increase over the next 5 years nearly doubled!

When it comes to buying a home, the majority of buyers agree they need a Realtor® to negotiate for good prices and better terms of sale.

Did you know 88% of home buyers have used a Realtor® in 2014?

Here’s what else a Realtor® can do for you:

• 79% of home buyers used a Realtor® to find the right home for them.
• 75% of home buyers used a Realtor® to negotiate the price for them.
• 60% of home buyers used a Realtor® to negotiate the terms of the sale for them.
• 56% of home buyers used a Realtor® to determine the comparable sales for them.
• 30% of home buyers used a Realtor® to determine the affordability of the home they could buy.

Source: California Association of Realtors® “One Cool Thing” from the 2014 Survey of California Home Buyers.

The latest “One Cool Thing” from the California Association of Realtors’ brought to you by The Lawhead Team – Social Media Use Is On The Rise.

From searching for home-buying tips to looking for an agent referral, buyers are increasingly using social networking tools to aid in the home-buying process.

Percentage of California buyers using social media:

• In 2011, 52% of buyers were using social media.
• In 2012, 68% of buyers were using social media.
• In 2013, 75% of buyers were using social media.
• This year, in 2014, 77% of buyers are using social media to find a home.

What are buyers using social media for?

• 44% are using social media for buying tips and suggestions from friends.
• 44% are using it to get neighborhood information from friends.
• 42% of buyers use social media to check out an agent’s Facebook Page. Are you consistent with updating yours??
• 35% of buyers are using social media for agent referrals.
• 23% use social media to obtain home buying info and tips.
• 23% also use social media to check out neighborhood profiles.
• 20% of buyers use social media to check out an agent’s YouTube profile.

How much do you use social media when it comes to buying or selling a home?

Planning a remodeling or home improvement project? Check out California Association of Realtors® latest “One Cool Thing”.

During the past year alone, new homeowners spent $18 billion on home improvement and remodeling projects. From the simple, such as painting or flooring, to large scale projects, such as additions or replacing windows, this group of consumers made the most out of every paint brush, hammer, and two by four.

1 out of 5 new homeowners took on a remodeling project during the past year. These remodeling homeowners are:

• 70% more likely to have done remodeling on their kitchen.
• 68% more likely to have taken on new landscaping.
• 49% more likely to have tackled an addition.
• 43% more likely to have done remodeling on their bathroom.
• 29% more likely to have replaced windows.
• 25% less likely to have not made any home improvements during the past year.

California Association of Realtors recently shared their One Cool Thing reporting the increase in home prices and the benefits it has on home sellers.

The report took sellers opinions on home prices for 2012 and 2013. The following reflects the survey taken in 2014:

• Only 9% of home sellers thought home prices would rise in one year.
• Only 12% of home sellers thought home prices would rise in five years.
• Only 20% of home sellers thought home prices would rise in 10 years.

The following reflects the survey taken in 2013:

• 43% of home sellers think home prices will rise in just one year.
• 58% of home sellers think home prices will rise in the next five years.
• 74% of home sellers think home prices will rise in 10 years.

The reasons for selling were much more positive in 2013! The number one reason for selling in 2012 were due to financial difficulties. The number one reasons for selling in 2013 was because the time and price were right for moving up!

Home sellers are feeling excited about home prices and they anticipate they will get more for their homes in the next few years. Visit the California Association of Realtors “One Cool Thing“.

Wonder how often homes were sold for more than the asking price?

The Lawhead Team would like to share the latest “One Cool Thing” from the California Association of Realtors®.

Just exactly how often were homes sold for more than the asking price? See below to find out!

• In 2005 about 37% of homes were sold above the original asking price.
• In 2006 about 12% of homes were sold above the original asking price.
• In 2007 about 11% of homes were sold above the original asking price.
• In 2008 about 10% of homes were sold above the original asking price.
• In 2009 about 21% of homes were sold above the original asking price.
• In 2010 about 28% of homes were sold above the original asking price.
• In 2011 about 16% of homes were sold above the original asking price.
• In 2012 about 26% of homes were sold above the original asking price.
• In 2013 about 50% of homes were sold above the original asking price.

2013 saw an all-time high of 50%! This is the highest ever recorded!

Source: California Association of Realtors® Annual Housing Market Survey.

The California Association of Realtors® “One Cool Thing” recently sent out a diagram of where exactly your home’s water is being wasted.

A typical three bedroom, single family home in California uses approximately 174,000 gallons of water a year!

Here is where most families are using that water:

• Kitchen and bathroom faucets – 9%
• Shower – 17%
• Toilets – 4%
• Clothes Washer – 4%
• Landscaping – 57%
• Overwatering – 9%

Did you know approximately 1 gallon of water equals $10? The following is a cost breakdown for the water used in your home:

• Low flow toilets save 6.4 gallons per flush and cost anywhere from $60-$200.
• Faucet aerators save 1.5 gallons per minute and only cost $2.
• Low-flow shower heads save 2.5-3.5 gallons of water per minute and only cost anywhere from $10 to $40.

The California Senate Bill 407 states that by January 1, 2017 all residential properties in California that were build prior to 1994 will be required to retrofit with the following:

• Toilets that use no more than 1.6 gallons of water per flush.
• Shower heads with flow rates of no more than 2.5 gallons per minute.
• Other interior fixtures that use less than 2.2 gallons of water per minute.

Source: California Association of Realtors® and the California Homebuilding Foundation.