Insights and
\nApplication from the 2021 International Builder’s Show (virtual)<\/b><\/p>\n
\u00a0 \u00a0 \u00a0\u00a0Last week, I had the tremendous \u00a0 \u00a0 \u00a0 \u00a0\u00a0REAL ESTATE AND BUILDING IN 2021<\/b><\/p>\n \u00a0 \u00a0 \u00a0 \u00a0Certainly, the overwhelming \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0UNDERSTANDING TODAY’S BUYER<\/b><\/p>\n Perhaps most fascinating is the \u00a0Furthermore, in 2018, 41% of One last item of note: second home POST PANDEMIC DESIGN SHIFTS<\/b><\/p>\n \u00a0 \u00a0 \u00a0\u00a0In the design world, the pandemic \u00a0Additionally, the mudroom is now \u00a0The fresh white paint color palette \u00a0 \u00a0 \u00a0 \u00a0\u00a0THE FUTURE IS HERE TO STAY<\/b><\/p>\n
\nopportunity to attend the National Association of Home Builders (NAHB)
\nInternational Builder’s Show (IBSx) . Packed full of educational sessions, this
\nplatform provided valuable insights into what’s trending and what’s ahead in
\nthe real estate, building and design industry, particularly post-pandemic or as
\none speaker called it, “The Great Disruption.”<\/span><\/p>\n
\nconsensus among speakers and presenters was that the building industry is
\nexperiencing unprecedented demand, given that the real estate market has its
\nlowest inventory since it began being measured in the early 1980’s. There are
\nfewer than one million listings nationwide. Correspondingly, builders have very
\nlittle inventory to offer prospective buyers and are struggling to keep up with
\ndemand. Building costs are also up and home prices have risen 10% in the last
\nyear. What does all this mean and how can we learn from the market and the post
\npandemic pivots in the design and building industry?<\/span><\/p>\n
\ndemographic of the typical buyer in today’s market. The highest percentage of home
\nbuyers right now are 30 years old. These millennials are searching for homes in
\nsuburban areas, with lower density and costs of living. As they begin to start
\nfamilies, they want homes with green spaces and good schools. They are
\ndeparting from high density areas so they can raise children in non-urban
\nsettings. What this means is that outgrowth in suburban areas will increase
\nwith new developments to absorb demand.<\/span><\/p>\n
\nmillennials made offers on houses without even seeing them! This reinforces my previous
\nblog posts that online photography is EVERYTHING! Along with photography,
\nvirtual tours like Matterport\u00ae are also critical to captivating this
\ndemographic, especially now that shopping at home (even for houses) is a part
\nof our daily existence. For sellers, this is a lesson in listening to your
\nRealtor\u00ae and their staging partner in having a home well styled and professionally
\nstaged. One image could spell the difference between getting an offer or not.
\nWith the click of a mouse, buyers can move onto the next property without a
\nsecond glance. Homeowners should be highly focused on details, leaving nothing
\nto chance.<\/span><\/p>\n
\npurchases are up 23%. Opportunities to live and work remotely along with lower
\ninterest rates have provided a ripe season of alternative home purchases, which
\ncan be used as income-producing short-term rentals or alternative seasonal
\nliving.<\/span><\/p>\n
\nhas shifted how we live and work, enabling our design focus to be on working
\nand learning from home, health and sanitation, color, as well as smart home
\ntechnology and efficiency. Examples of this include inserting learning alcoves
\nfor home school conversions of guest spaces to exercise rooms and home offices.
\nHomeowners are finding new uses for niches and odd spaces in order to make room
\nfor everyone working and learning from home.<\/span><\/p>\n
\nthe “everyday entry” and includes the term “drop zone” is dead, given that
\nbackpacks and laptop bags are no longer dropped, but work and school are a part
\nof the everyday home. Formerly rarely used guest rooms now take on new
\nfunctions for secondary entertaining, work out rooms, homework rooms and
\noffices. <\/span>\u00a0<\/span>Food delivery stations now
\noccupy the front door<\/span><\/p>\n
\nthat was the rage only a year ago is now being supplemented with colorful
\naccent walls in order to add interest and visual stimulation in lieu of staring
\nat four white walls. Storage has also become a valuable component of home
\ndesign as more room is needed for our less frequent but more productive grocery
\ntrips and Costco\u00ae adventures. We are bringing the outside world in. Green
\ndesign and solar energy are also growing in importance with zero-based energy
\nhomes, eco-friendly comfort zones for heating and air conditioning, and smart
\nhome air monitoring for clean air solutions.<\/span><\/p>\n