What Americans Love—and Hate—About Their Homes During Coronavirus, a REALTOR.com Survey

By  Clare Trapasso  |  Apr 27, 2020

There’s nothing like a pandemic forcing you to stay indoors to help you realize what’s really important in your living space.

 

As millions of Americans shelter in place, they’re realizing what they love—and what they desperately want to change—about their homes and neighborhoods.

 

The quality people valued most in their current living situation was being in a quiet neighborhood with outdoor space that’s near grocery stores and pharmacies, according to a realtor.com® survey of 1,300 homeowners and renters.

 

The survey was conducted during the week of April 5. About 13% of respondents ranked each of these characteristics highly.

 

“After more than a month of stay-at-home orders, it’s safe to say Americans are really getting to know what home features work and don’t work for their families,” realtor.com’s chief marketing officer, Nate Johnson, said in a statement.

 

That outdoor area in a quiet community can provide fresh air and a much-needed mental health break from those who have been cooped up at home for too long.

 

Ten percent of folks also appreciated having an updated kitchen, all the better for preparing meals at home when dining out is not an option. About 9% of participants liked their natural light, and 6% appreciated flexible spaces that can be used for crafting, gaming, or exercise.

 

What folks yearned for the most—but didn’t have—in their homes was more space. Hey, it’s hard to be quarantined with everyone on top of everyone else! About 19% of survey participants dreamed of additional square footage, while 13% wanted an updated kitchen and 11% wanted a home gym.

 

Updating the style of the home, wanting more natural light, and adding a yard or patio all ranked highly, with about 9% of participants each. An additional 6% hoped for an extra bathroom.

 

And since they’re stuck at home, many folks are making the best of it by finally getting around to their do-it-yourself lists. About 32% of those surveyed said they had started a home improvement project, and another 15% plan to embark on one.

 

“As we move forward, we expect the shelter-in-place experience to have a significant influence on home-buying trends and how buyers prioritize home features, neighborhoods, and home improvement projects” Johnson said in a statement.

 

The most common DIY project was finally getting around to cleaning out the closets or the garage, at 21% of participants. That was followed by gardening and planting, at 17%; painting, at 13%; redecorating a room, at 10%; and rearranging the furniture, at 9%.

 

In addition, folks were keen on adding artwork or decor to their homes, at 7%; adding a home gym or workout space, at 5%; and installing an office or work space, at 4%.

 

Clare Trapasso is the senior news editor of realtor.com and an adjunct journalism professor at the College of Mount Saint Vincent. She previously wrote for a Financial Times publication, the New York Daily News, and the Associated Press. She is also a licensed real estate agent. Contact her at clare.trapasso@realtor.com.

 

Safe Showing Update

On Sunday, April 26th, Boulder County released an update to their stay at home order, which is currently in effect until May 8th, allowing in-person showings.  (Open houses are NOT permitted.)  While we are thrilled to be able to serve our clients in this way again, we take the safety of our agents, our clients and our community very seriously.

 

Here are the steps we are taking to make sure our showings are as safe as possible:

 

Prior to approving any showings, we are asking buyers to thoroughly review photographs, virtual tours, floor plans, videos and property disclosures. and if possible, drive through the neighborhood.

 

Buyers must also be pre-approved for mortgage financing through a reputable lender, or provide proof of funds.

 

We provide a COVID-19 Disclosure and Release Agreement for both buyers and sellers to review and sign, confirming that no parties are experiencing any symptoms of COVID-19 or have knowingly been exposed.  These steps ensure that only serious buyers who are ready, willing and able to purchase the home are approved for showings.

 

Seller or listing broker will prepare the house for showing by turning the lights on, clearing paths,  opening closet doors, and removing all valuables.

 

Masks, gloves, booties, hand sanitizer and disinfectant wipes (if available) will be made available by the front door of all listings.

 

If home is occupied, the Seller is also instructed to disinfect surfaces of home after showings have taken place.

 

No overlapping showings allowed.  A maximum of three people can attend showings, and buyers should whenever possible leave children at home.  All people entering the property must wear masks, gloves and booties, leave lights on and refrain from touching anything other than doorknobs and handrails if necessary.

 

Anyone entering the property must adhere to the safe distancing guidelines, and any discussion regarding the property should take place following social distancing rules (6’ or greater) after leaving the property, or over via electronic means.

 

Together we can work to keep everyone safe while still providing our world-class service to our buyers and sellers. If you have questions about how we can help you buy or sell a home during this time, please reach out!

 

We are here for you!

 

Home Sales Are Still Up!

Showings are down starting in March, as you can see, due to physical distancing and safety precautions; but home sales are still up and title companies are busy!

 

We have had to become more creative in how we show and list homes. Virtual home tours have been our most effective, main creative platform.

 

Check out some of our most recent tours from CLR’s Candace Loving and 3rd Eye View Productions working with Marley Gagnon, to bring you high quality 3D virtual home tours from Matterport. If you have virtual reality goggles, you can even jump on and feel like your really in the living room or kitchen of your future home!

 


6030 Red Hill Road, Boulder

https://my.matterport.com/show/?m=ohSB8r2oc4

5 Beds | 5 Baths | 5553 Sq. Ft.

 

Listed by: Kim Thompson

303-641-2049

Kim@KimThompsonGroup.com

 


3850 Broadway Street #19, Boulder 

my.matterport.com/show/?m=EwbDki7mtA3

4 Beds | 3 Baths | 2132 Sq. Ft.

 

Listed by: Kim Thompson

303-641-2046

Kim@KimThompsonGroup.com


 

47 Chieftain Court, Lyons 

my.matterport.com/show/?m=anuZnFQobDJ 

3 Beds | 3 Baths | 2515 Sq. Ft.

 

Listed by: Joni Renee

720-365-7302

Joni@JoniReneeRealty.com

 


745 Highland Avenue, Boulder 

my.matterport.com/show/?m=NjHHgGAD28t&brand=0

5 Beds | 5 Baths | 4518 Sq. Ft.

 

Listed by: Candace Loving 

303-332-4530

CandaceLoving@gmail.com

 

 


 

We Are All in This Together!

We are here for you

Here at Colorado Landmark, Realtors, we are actively keeping our finger on the economic pulse. 

Please call us at any time to ask questions and we will share any  information we have learned.  In the meantime, if you are thinking about buying or selling your home this year, here are some things you can do now to prepare:

 

1)    Please file your federal (and state) tax returns: the government has extended the filing deadline to July 15th, however you can still file your tax return, even if you’re not ready to pay your final 2019 tax bill.  You must have this complete for your pre-approval letters, but in general, procrastination is not useful, especially if you have a lot of time on your hands right now.

 

2)    If you have been thinking of selling, this is a great time to de-clutter and get your home ready! Check out our blog post about easy home updates you can do right now:

https://coloradolandmarkblog.com/easy-home-updates-you-can-do-now/

 

3.  If you are planning to purchase a new home, speak with a lender to get pre-approved.

 

4)    If you MUST buy or sell, we have a safe plan for you.  Please reach out and we will go over all the safety precautions that we have in place.

 

 

5) Stay safe: keep your immune system high, stay at home and when you head out, please follow social distancing protocols, wear a mask and wash your hands frequently, especially after returning to your house from shopping, etc.

 

 

We will get through this together!

 

 

Don’t Let Frightening Headlines Scare You

Don’t Let Frightening Headlines Scare You, from Gretchen Heine 

March 26, 2020

There’s a lot of anxiety right now regarding the corona virus pandemic. The health situation must be addressed quickly, and many are concerned about the impact on the economy as well.

Amidst all this anxiety, anyone with a megaphone – from the mainstream media to a lone blogger – has realized that bad news sells. Unfortunately, we will continue to see a rash of horrifying headlines over the next few months. Let’s make sure we aren’t paralyzed by a headline before we get the full story.

When it comes to the health issue, you should look to the Centers for Disease Control and Prevention (CDC) or the World Health Organization (WHO) for the most reliable information.

Finding reliable resources with information on the economic impact of the virus is more difficult. For this reason, it’s important to shed some light on the situation. There are already alarmist headlines starting to appear. Here are two such examples surfacing this week.


1. Goldman Sachs Forecasts the Largest Drop in GDP in Almost 100 Years

It sounds like Armageddon. Though the headline is true, it doesn’t reflect the full essence of the Goldman Sachs forecast. The projection is actually that we’ll have a tough first half of the year, but the economy will bounce back nicely in the second half; GDP will be up 12% in the third quarter and up another 10% in the fourth.

This aligns with research from John Burns Consulting involving pandemics, the economy, and home values. They concluded:

 

“Historical analysis showed us that pandemics are usually V-shaped (sharp recessions that recover quickly enough to provide little damage to home prices), and some very cutting-edge search engine analysis by our Information Management team showed the current slowdown is playing out similarly thus far.”
The economy will suffer for the next few months, but then it will recover. That’s certainly not Armageddon.

 

2. Fed President Predicts 30% Unemployment!

That  statement  was  made  by  James  Bullard, President of the Federal Reserve Bank of St. Louis. What Bullard actually said was it “could” reach 30%. But let’s look at what else he said in the same Bloomberg News interview:

 

“This is a planned, organized partial shutdown of the U.S. economy in the second quarter,” Bullard said. “The overall goal is to keep everyone, households and businesses, whole” with government support.

 

According  to  Bloomberg, he also went on to say:

 

“I would see the third quarter as a transitional quarter” with the fourth quarter and first quarter next year as “quite robust” as Americans make up for lost spending. “Those quarters might be boom quarters,” he said.

 

Again, Bullard agrees we will have a tough first half and rebound quickly.

Grethchen Heine | REALTOR

303.816.8390

Homes@GretchenHeine.com

2015: A Banner Year for CLR!

2015 was a banner year for luxury real estate at Colorado Landmark, Realtors!

Our agents closed on both the highest residential sale and the highest price per square foot sale in Boulder, proving that we are true “market makers”.

Updated Luxury Chart 12-21-15 light blue-page-001

 

Our clients appreciate Colorado Landmark’s one-on-one approach, designed to market each unique property skillfully for a seamless experience from beginning to end. That’s what luxury service is all about: establishing trust, matching qualified buyers with sellers, and removing the barriers to a successful transaction.

We are proud to be members of Leading Real Estate Companies of the World and Luxury Portfolio International, and look forward to another successful year in 2016 representing the best clients and most distinctive properties in Boulder.

Best wishes to all for a fantastic 2016!

LuxeTrends by Luxury Portfolio

We LOVE everything that has to do with the home – especially when it comes to the latest real estate trends, design concepts, luxury destinations and more. If you are anything like us, you’ll fall in love LuxeTrends, a gorgeous and wonderful 1luxury lifestyle e-newsletter created by Luxury Portfolio. Every 6 weeks, receive a FREE LuxeTrends newsletter right to your inbox. Learn about some of the best luxury products on the market, high-end fashion trends, interior design ideas and so much more! Interested? Sign-up to receive this free luxury e-newsletter by clicking HERE or give us a call so we can sign you up. We would love to connect you! With our affiliation with Luxury Portfolio, Leading RE’s beautiful luxury marketing division, our firm has access to its award-winning website, LuxuryPortfolio.com as well as a robust menu of marketing services, tools, advertising and partnerships all designed to showcase the luxury properties of all their member brokerages.

Take a look below to get a glimpse of the most recent LuxeTrends newsletter. Color of the year? MARSALA.

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Colorado Landmark Quarterly: 4th Quarter Update

We are excited to announce that the 4th Quarter issue of the Colorado Landmark Quarterly Newsletter has finally been released!

Check out what is happening in the Boulder Real Estate Market, along with upcoming events across Boulder County and a special note from Joel Ripmaster.  Make sure to check back on our blog for the newest  Colorado Landmark Quarterly issue. Click here to download your own copy of the newsletter!
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How Will the Boulder Flood Impact our Real Estate Market?

 

Today’s post is by our superstar top producing agent, Steve Remmert.  Below Steve shares his thoughts about the Boulder Flood and how he thinks property values will be affected.

Flatirons Shot w- copyright

It has been over a month since the flood of September 12th hit Boulder, and though we are now dry there are many who are still struggling to reassemble their lives. Many clients have asked me how I thought the real estate market would be impacted as a result of the floods.  I thought that I would take a moment and share my expectations.

I have done some research into how natural disasters affect real estate. The closest relevant comparisons are hurricane Sandy or, more locally, the 2010 Four Mile Canyon fire. With regards to the Four Mile Fire, prior to the floods, the mountain market, outside of the “burn zone”, was on its way to a recovery with much of the lost equity returned. We did see a notable decline in sales immediately following the fire but over time, sales volume increased and property values stabilized.

I site hurricane Sandy because much of the impacted areas were roughly the same socioeconomic background and housing price points as the Boulder market. As in New York, within the designated floodplains, the cost of homeownership is likely to slightly increase. This is due to the potential increase in the cost of flood and other related insurance premiums. It is also likely that until prospective buyer’s memory of the recent events fade, the perceived value of those impacted homes will decrease as the demand weakens.  In the wake of hurricane Sandy the immediate effect was a dramatic decline in home sales, but by the end of the Q2 of this year 2013 the effects of Sandy had decreased and the market had also begun to stabilize. Property values have not returned to their previous high but as they re-build and as time elapses, I expect that most or all of the lost equity will return to the market.

As a result of the floods, I think we have all re-evaluated the potential consequences of living in a flood prone area. Consequently, I expect to see a decrease in sales and a decline in value within the designated floodplains. I expect this to last for about 18 months depending on the severity of the impacted area. Inversely, we should see a slight increase in sales of homes outside of the designated floodplain. Any buyer should have confidence that if a home withstood the impact of last month’s rains, it is a pretty safe bet and that flooding is not a concern.

Rest assured, that with the exception of some truly devastated areas, the real estate market will not be dramatically impacted and it will shortly return to its normal pace. In the short term, it may feel worse than it is because we are also moving into our slowest time of the market. A typical seasonal slowdown is already expected but after the holidays, we should be back to our previous sales levels.  Boulder is still one of the greatest places to live and that will never change.

I also want to point out that I see a notable distinction between homes that were damaged by flood waters and those damaged by oversaturation of the soils surrounding the homes. Yes, they both got wet and they are both considered flood damage, but the damage as a result of oversaturation of the soil is largely preventable and will not deter many buyers from buying that house in the future. That being said, for both categories, I suggest taking measures to protect against a recurrence. The potential remedies can be as simple as proper gutter systems and site grading to move moisture away from the foundation. Also I strongly suggest that if your house was impacted, document all damage and all communication with insurance and the various contractors (include pictures). A future buyer is going to want to know the source of the water problem and how it was repaired. Your repair and documentation will be critical to their becoming comfortable with purchasing your property.

For those whose insurance is not covering losses, my accountant informed me that house repairs due to natural disaster damage are tax deductible. There are certain limitations, as with all deductibles, but if you have had damage that is more than 10% of your annual income than it is likely then you will receive a deduction from the IRS. Here is a link detailing how to compute the deductions. http://www.irs.gov/pub/irs-pdf/p547.pdf. Though it appears simple, I still recommend going over this with your accountant before submitting your taxes.

 

My heart goes out to those of you that have been impacted and I hope for a quick recovery. If there is anything I can do or advice I can provide, please let me know.

 

2012-Remmert-53

Steve Remmert

Colorado Landmark, Realtors

(720) 339-5033

steve@steveremmert.com

www.steveremmert.com

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Flatirons Photo Credit:  Bob Carmichael Productions