Why do we feel the need to live in outrageously oversized homes? Do we really need master suites with bathrooms the size of a hotel room? Do we really need a home with an office, a den, a workout room, a toy room, a media room, a living room and a family room? Do we really need 20-foot vaulted ceilings? Do we really need both dining rooms and table areas in the kitchen?
The simple answer is no. That’s why lots of people are choosing to downsize during this tough economic time. But how do you know how much of a downsize you can handle? You decide how much space you really need to survive. As it turns out, not much!
This article from the Mother Nature Network displays the 10 smallest houses in the world. Let me tell you, they are small. Tumbleweed Tiny House Company has been making houses as small as most people’s closets, but somehow they still encompass a workspace, a bedroom, a bathroom with a toilet and shower, a living space and an outdoor porch, not to mention architectural appeal! Micro Compact Homes measure out to about 266 centimeters cubed and somehow still include two double beds, a bathroom, a lobby, a dining space for up to five, a kitchen and modern entertainment technology. Rollit homes turn like a mouse on a wheel. When you walk in the center of the home, the home turns and reveals different uses, such as a bed, a chair, a table, a toilet or a kitchen sink. One guy even created a trailer home that connects to his bicycle and includes a solar oven and a heating unit. It doesn’t get more eco-friendly than that!
What does this prove? People around the world are finding ways to live comfortably in smaller spaces. No, it doesn’t mean that you need to make a change this extreme. But it does definitely give you something to think about.
If you live in the Chicagoland area, this post is especially for you. Even if you don’t, the beauty of the Internet is that you can globally witness an area attraction without traveling. This post is about my recent experience at the Museum of Science & Industry in Chicago.
Recently, on a long, adventurous walk to find the Space Center, halfway down the long corridor that displayed all of the planets in our solar system, I found myself staring out a window at a house. Literally, this house was just resting right on the museum’s grounds and looked as if someone lived there. Patio furniture was set up on a patio and deck, trees surrounded the house and even a garage was open and displayed a canoe hanging on the wall and a bike. I was intrigued.
As it turns out, this house is actually an exhibit called Smart Home: Green & Wired. It is a fully-functioning, eco-friendly home, winning the title as Chicago’s greenest home. Midwest Living created the home to show people how they can live luxuriously and beautifully while using the least amount of energy and minimizing maintenance. What kind of rooms are in the house? A master suite that looks more like a vacationing retreat, a home office, a nursery, a kitchen, a family room with a fireplace, a rooftop garden and more are all included! Everything is made out of sustainable materials and smart technology, and the house itself is modular home construction, which the tours talks about in detail. For $10, you can tour the home and find out all kinds of useful tips on how you can green up your home! Even my niece and nephew enjoyed touring what they referred to as the “pretty and really clean” house.
I don’t talk about green living as much as I should, since its popularity seems to be soaring. And rightly so! Instead of preaching anymore, I’ll turn you to the Buy Owner Blog’s Green Living articles. They’ve been writing these for years and can help you out with any green living question you have! This is where I go for all my green living tips and ideas, which are sure to increase after viewing this incredible exhibit at MSI.
If you’ve ever felt more passionate about your home’s appearance than your own, Meghan Daum’s book, “Life Would Be Perfect If I Lived in That House” will be easy to relate to.
Called “by turns disarming and tedious” by Publisher’s Weekly, Daum’s book chronicles her personal moves across the USA, from NYC to Nebraska to California, and the way those moves revealed her own understanding of self.
I have not read the book, but I find its premise intriguing. I’ve long thought our homes define us, especially as women. We want to nest, to cultivate, to take care of our little space—we feel people judge us by our homes, and we want to be judged well.
If any of you have read the book, I’d love to hear your thoughts!
A recent article at MarketWatch.com points out that as the tax credit ends, some sellers are taking notice. In order to compensate for the credit buyers could have previously gotten, these sellers are lowering their listing prices.
This way, buyers benefit from a lower price with or without the credit!
Now that’s what I call savvy selling!
from the article: “The expiration of the credit could be prompting home sellers to slash prices: 22% of listings on the market as of May 1 experienced at least one price reduction — that’s a 10% increase from the previous month, according to data from Trulia.com.”
Wondering what this means for you?
- Sellers: Take note! Now is the time to rethink your home price. Buyers won’t have the tax credit working in their favor, so you need to ask yourself how you can woo them in! Can you lower your price? Other sellers will be. Think about it!
- Buyers: Take heart! Even without the tax credit being available, you are still benefiting from it. Pay attention to FSBO listings you’ve been watching, and look for lowering prices. At least some sellers are getting more aggressive, and you could reap the benefits!
According to this article from the Chicago Tribune, 40 percent of home sellers in the Chicago area took a loss in March. That means that even though home sales increased because of the end of the home buyer tax credit, 40 percent of sellers still sold their houses for less than they paid for them. Nationally, 23.3 percent of single-family homeowners had mortgages underwater at the end of March, which means they owe more on their mortgages than what the house is worth.
With the continued decline of home values, it is not proposed that the real estate market will bottom out until the third quarter of this year, which was initially proposed to occur by the end of the second quarter. Then it will slowly improve from there.
What do you current home sellers and buyers have to say about this? Do you think the market will finally hit rock bottom later this year, do you think it’ll continue to decline or do you think an improvement is coming?
I know the housing market is difficult now, to say the least. Stick with me and my posts. I’ll offer you as many helpful tips as I can so that you can gain the most value from your sale or purchase as possible. And I’ll lend you support, which is what a community of bloggers with common interests is great for.
Builders, take note: Single women are buying more homes than ever. New home builders and home sellers will want to know about this demographic. Gone are the days of women just being passive spectators in a home purchase, so don’t ignore them. Smart, driven, professional females are in the market, and they don’t show signs of leaving, so be aware of how you’re marketing to them.
Here are the facts, according to a recent Wall Street Journal article: In contrast to 20 years ago, when single women accounted for 10% of home buyers (as did single men), in 2009, unwed women made up 21% of home buyers. In fact, single women have held the 20% mark for the last five years.
What’s changed that more single women are buying real estate? According to the article, some of these young, house-buying women make more money than their male peers, are looking to safeguard their net worth and often have thrifty mindsets. “‘Men are much more interested in consumption,’ said Walter Molony, a spokesman for the National Association of Realtors.”
To read the complete article, click here.
Caught this recent article in The Globe & Mail, which brings out four key reasons for selling a home for sale by owner (fsbo).
Essentially, this piece shows that if you’re willing to invest in your own home sale—with your time, knowledge, availability for showings and creativity in marketing efforts—there’s no reason you can’t sell it for yourself.
I’d add that when you use a fsbo marketing company (such as BuyOwner.com), you arm yourself with even more resources and tools to sell without an agent.
Check out the complete article here!
As a female interested in real estate, I found this recent Wall Street Journal article, “The Ladies’ Turn,” to be very interesting. Essentially, it points out a growing demographic of home buyers: single women.
The article states, “..[S]ingle women have become an especially important force to be reckoned with in real estate. According to the National Association of Realtors, they now sign on the dotted line in nearly a quarter of all U.S. home deals—up from 14% in 1995.”
A quarter of all U.S. home deals? That’s incredible. So one out of four home sales are being made to a single woman.
If you’re thinking this means sellers should strategize different in ways to sell to this particular buying demographic, you’re not alone:
“To tap into this formidable market, more industry pros are touting themselves as ‘certified’ in women’s housing needs.”
To read the rest of this interesting article, including about more specific companies and tactics now being put into play, check out the full piece here.
Think you can’t show off an outdoor garden because you live in a high-rise building? Think again! As technology continually impresses us with updated possibilities, this clip-on greenhouse from The Plant Room, a design team from New Zealand, is no exception. It’s a prefabricated room that bolts onto the outside of apartment and condo buildings.
The company claims that this invention provides numerous perks, which include an additional outdoor space, extra shade, hot water, a rainwater tank, and of course a growing space for fruits, vegetables, herbs and foliage. Unfortunately, it might be awhile before this type of invention is allowed in the United States.
For more info on these clip-on greenhouses, visit the Plant Room website here.
This article from the Chicago Tribune explains the current sad state of affairs of living conditions in and around Chicago. Because of the poor economy, I’m sure other places in the country are experiencing the same scenarios. With over 23,000 foreclosures reported in Chicago last year, thousands of people have left their homes and moved into the basements, attics or spare bedrooms of family and friends. As the other article states, this poses threats to public safety, along with affecting street parking, classroom sizes, testing scores and more. Already, numerous people have died in a fire that engulfed an overcrowded home in a Chicago suburb.
Because jobs are scarce, it’s hard for people dealing with foreclosures to find affordable living and new jobs in a new location. However, my advice to these people is to check out FSBO real estate. People selling FSBO are looking to save money too, by not paying commission to real estate agents. Still, they are desperate to find buyers, and real estate advice right now clearly states that it’s a buyer’s market. Therefore, individuals or families who are forced out of their homes could search for rentals available at a fair price. Eventually, when their credit improves, they could find an extremely affordable home to purchase. Or, if a foreclosure hasn’t occurred yet, they could give up their difficult mortgage payments now and find a really nice house more in their budget.
So, if any of you foreclosure victims are reading my blog, my advice is to visit www.BuyOwner.com and search for houses or apartments within your price range. As of right now, prices are insanely low! People are desperate to sell, and the deals are incredible. Buy Owner is a credible company that offers a free, simple search engine. Why not browse what’s available and leave your friend’s basement sooner than later?
Good luck to everyone dealing with foreclosures and tough mortgages right now.
