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The vast majority of luxury homebuyers used an agent, are willing to give up square footage for an amenity they want and wouldn’t live in a home that isn’t tech-friendly, according to a survey commissioned by Better Homes and Gardens Real Estate.
The online survey of 500 affluent homebuyers, conducted by Wakefield Research between May 20 and June 4, also showed that most luxury homebuyers believe homeownership is a more sound investment than the stock market, would rather live in a “smart” home than a “green” home, and would rather have an upgraded home than more square footage.
“The luxury consumer is considered a trendsetter in most industries, and to see the strong connection this consumer has with ‘home’ is very significant as we look at the real estate market as a whole,” said Sherry Chris, president and CEO of Better Homes and Gardens Real Estate, in a statement.
|Luxury homebuyer survey statement||Percentage of respondents agree|
|Used an agent for real estate services||96%|
|Willing to give up 1,000 square feet of living space in their next home for a lifestyle amenity they want||94%|
|Believe their house is the best on the block||93%|
|Wouldn’t live in a home that isn’t tech-friendly||87%|
|Homeownership is a more sound investment than the stock market||75%|
|Consider a “smart” home more important than a “green” home||66%|
|Rather have upgraded home than more square footage||60%|
|Own multiple homes||58%|
|Homeownership is a bigger indicator of success than their job or title*||57%|
|Prefer owning multiple “lifestyle” homes to support recreational activities like skiing and theater-going||53%|
Source: Online survey of 500 luxury homebuyers between May 20 and June 4, 2013, conducted by Wakefield Research *Of those luxury homeowner survey respondents who have jobs
A majority of the affluent homebuyers surveyed said they used an agent for neighborhood lifestyle insight (65 percent) as a source of advance info for new listings (64 percent), as a go-to source for housing trends (55 percent) and for support through the homebuying process (53 percent).
More survey results:
– See more at: http://www.inman.com/2013/09/10/survey-affluent-homebuyers-will-give-up-space-for-amenities/#sthash.tSIc4fid.dpuf
Housing inventories increased in August and stood just 2.5% below their levels of a year ago, offering the latest sign that more sellers are testing the market after swift home-price gains over the past year.
Nationally, there were 1.98 million homeslisted for sale in August, according to a report released Thursday by Realtor.com. That was up by more than 24% from the low point in February and up 1% from July. Inventories have increased for six straight months.
While the overall level of homes for sale remains relatively depressed, the report suggests that inventory may have hit a bottom earlier this year after an extended two-year decline.
The report also suggests that home-buyer traffic has eased following a period in which mortgage rates have jumped by more than one percentage point.
Inventories in nine of the nation’s top 30 housing markets were above their levels of last August, led by Los Angeles, where inventory was up by 17.4% from a year ago to its highest level since April 2012. Inventories in Atlanta were 13.9% above last year’s level. Other gains were reported in Orlando, Fla. (up 7.1%); Orange County, Calif. (6.9%); Miami (5.1%); Philadelphia (4.2%); and Phoenix (2.8%).
Listings stood 23.3% below last year’s levels in Detroit and were down by 20.1% in Boston, 17.9% in Denver and San Diego, and 14.8% in Dallas.
Median asking prices nationally were unchanged from July at $199,900, which represented a 6% increase from a year earlier. Asking prices were below last year’s level in Cleveland, but they were unchanged or up from a year ago in every other major market.
Half of all homes listed in August had been on the market for less than 92 days, up from 85 in July and 79 in May, but still below the median market time of 100 days last year.
The Realtor.com figures include sale listings from more than 800 multiple-listing services across the country. They don’t cover all homes for sale, including those that are “for sale by owner” and newly constructed homes that aren’t always listed by the services.
The Bedford Fire Department is getting ready for its “Fire On the Green 2013” event.
The celebration will be from 3-8 p.m., Sept. 7 on the Village Green.
This year’s event will have music from The School of Rock Music, Mighty Joe Band and The Three Track Mind Band. There also will be food/beverages, carnival games, live fire/safety demonstrations, a caricature artist and much more.
Admission is $10 per person; children younger than 5 are free.
Six farms, in North Salem, Lewisboro and Bedford, have been added to the county’s agricultural district.
The farms are SweetWater Farm in North Salem (13.30 acres), Gossett Brothers Nursery in Lewisboro (5.50 acres), Sun Raven Farm in Bedford, (4 acres), Canterwood Farm in North Salem (19.11 acres), 102 Titicus Road in North Salem (1.31 acres) and Mill Pond Farm in Bedford (24.79 acres).
Adding farms to the agricultural district allows the county to apply for state grants.
“This protects these parcels,” county Legislator Peter Hatckham said. The parcels are all in Harckham’s district.
Harckham said farming in Northern Westchester is becoming a big business, which is good for the county and the environment.
“Farms help lower obesity rates,” Harckham said. “We need to make more of an effort to harvest locally and give our kids fresh produce.”
Harckham said people in Westchester are beginning to realize how beneficial farms are, especially with tourism.
“In the fall people are always going up to farms picking apples, pumpkins and berries. It builds sales tax revenue,” Harckham said.
The properties are used mainly for farming crops, dairy production or raising horses. Agricultural land in Westchester, including family farms and homesteads passed from generation to generation, has been converted to other land uses in the past several decades.
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