HOME IS WHERE YOUR STORY BEGINS
MULTIGENERATIONAL HOUSING
With more extended families choosing to gather under one roof, housing stock needs to adapt to the population's changing needs.
During the COVID 19 pandemic, the rate of multigenerational home purchases jumped from 11% to 15% of all purchases. With the pandemic being declared officially over, was this a short term trend which was brought on by high prices and rising inflation-or is it a long term trend?
The number of people who live in multigenerational homes has risen steadily since 1971. Today the number stands at 18% and defines having at least two generations of adults under one roof. As rent prices and home affordability continue to rise, we will see more of this type of living situations. Multigenerational housing needs to apply three standards in order to truly meet the needs of the population: accessibility, adaptability and affordability.
Support Accessibility
Developing multigenerational infrastructure means creating communities where ages 8 through 80 can thrive. By 2034, the the first time in U.S. history, we'll have more people over 65 than under 18. Communities need to take in account how various age groups get around. Fully functional multigenerational communities must include public transportation to consolidate traffic.
Make Spaces Adaptable
An ideal multigenerational home should consist of a main dwelling house for the core family unit. Then, there's a wing for the grandparents and a third unit over the garage for boomerang kids or to rent out. The space also includes a shared courtyard. Neighborhood design and accessibility to grocery stores, offices and shopping is important, too. The big question is how office, retail and warehouse spaces can become adaptable to accommodate shifting needs as the community ages.
Address Affordability
Multigenerational communities need child care workers, home health ides, housekeepers and grocery store workers to meet the requirements of households. Builders and developers need incentives to construct affordable units that work for them and for the end user. Infrastructure needs to be built in a way that allows for adaptation over time, which reduces costs.
By Nicole Slaughter Graham with Realtor Magazine Spring 2023
THE PROS WHO CAN FIND THE PERFECT HOME FOR YOU
What if you could hire a professional house hunter to do the legwork for you in buying a house? A passionate property expert with an enviable contacts book, an encyclopaedic knowledge of your desired area, and the inside track on what homes are due to come on to the market, and who goes the extra mile to find you the perfect properties, even before they hit the listings? Yes, Ocean Kulture Realty can help you in all that and more. Here are 8 secrets of the real "House Hunters".
1. FIND OFF-MARKET HOMES
Our knowledge of buildings/codes, architecture, and neighborhoods far exceeds that of a standard broker.
2. USE OLD-SCHOOL AND NEW-AGE RESOURCES
We use both old-school and new-age resources like handwritten letters to homeowners, social media or tap into our network of brokers and owners.
3. BUILD CLOSE RELATIONSHIPS WITH LOCAL REAL ESTATE AGENTS
We have relationships with many brokers/realtors throughout Jacksonville and we know lots of people in various business sectors. Ocean Kulture Realty social media presence is growing every day as well.
4. OFFER VIRTUAL, FACETIME HOUSE VIEWINGS
Our smart phones are such a great tool in getting a first glimpse of a property and sending videos over to the clients.
5. HAVE A 'GETTING TO KNOW YOU' BUYER INTERVIEW
We have a buyer interview process so we can get extremely clear on what is most important to them in their future home.
6. BUILD A RELATIONSHIP WITH YOU, THE BUYER
The rapport between client and agent is crucial. We are working as a team with the client to build a relationship. We take our time to understand the client's lifestyle, their likes and dislikes in a property and their budget.
7. KNOW THAT IT'S ABOUT THE COMMUNITY, NOT JUST THE HOUSE
A client often times has a perfect picture in their head how they want to live. We have a great understanding about neighborhoods, schools, parks & recreation, restaurants, buildings and of course, relationships. We have become an encyclopedia for Jacksonville with Jeff having gone to UNF and us raising our family here.
8. TAKE TIME TO FIND THE RIGHT HOME
We take our time to find the right home for our clients and always recommend to see a house at different times of the day. It is after all a huge decision that should not be rushed into.
SEIZE THE MOMENT
The double whammy of higher mortgage interest rates and climbing home prices has made buying more expensive. The higher costs of buying have thinned the ranks of home shoppers, which has lowered the prices sellers can command, said Zillow’s chief economist, Skylar Olsen.
Fall tends to be a good time for buyers, and this year could be especially good for buyers sidelined by fierce competition and a shortage of homes over the past two years, according to Zillow economists.
U.S. home values fell 0.1% from June to July 2022, the first decline in Zillow’s home value metric since 2012, Olsen said. The drop in values over the course of a month showed up in 30 of the 50 largest metro areas, but values in those areas are still up 16% from a year ago.
That could mean more options to tour and more time to find the right house, and that you’re less likely to face a bidding war, she said.
“Home values flattening so quickly after recent record growth might surprise, but it’s a badly needed rebalancing that gives home buyers more options, more time to shop and more negotiating power,” Olsen said.
If you’re in the market for a home, here are six reasons why this fall could be a good time to buy.
Connect with me to find out how I can help you get started.
BE PATIENT
The Jacksonville Real Estate Market is hot and buyer's competition is extreme. In these conditions it can be tempting to snatch up a home just to be done and over with it. Remember your budget and find the balance of what you want with what you can afford. A home is a huge financial decision that should not be rushed. Choose an experienced team who you can trust and who helps you avoid major regrets. Ocean Kulture Realty has the knowledge to guide you, listen to you and negotiate to get what you need.
JAX' VIBES
Be on the Lookout for FAKE Sellers/Owners
Scam Alert: The pandemic led to an increase in online transactions, giving scammers a new window of opportunity.
Fraud has long been an issue surrounding the sale or rental of real property. Within the last few months, an unwelcomed trend on the Florida Realtors Legal Hotline: People are fraudulently posing as property owners. They have been communicating through Social Media, like WhatsApp or Craigslist and email to lure innocent potential buyers into contracts, asking for deposits and even signing fake contracts.
One story happened right here in Neptune Beach. A family wanting to relocate and rent in the area, answered an add on Craigslist. The father had put down a deposit, came to visit the area and drove by the house that he signed to rent. Luckily he spotted someone in the yard and started a conversation to find out that he was swindled into a contract. It turned out the owner who he was talking to had no intention to rent or sell the home. The family lost their deposit and there was no trace of the scammer.
Please keep an eye out for any red flags so you can avoid becoming a victim of these fraudsters. This is the age of Social Media and online technology, no doubt. We are distancing us more and more from having people contact. It is vital that you do your part thoroughly on checking if things are legitimate.
We as a small brokerage real estate company encourage you to use a licensed real estate agent to help you with an important decision of buying, selling, investing or renting real property.
Source: Florida Realtor - Law&Ethics
