Haunted Houses Don’t Make For A Great Real Estate Market

Haunted Houses Don’t Make For A Great Real Estate Market

Halloween
Trick-or-Treat! Americans don’t think haunted houses are all that sweet.
Recently an article on Trulia, written by Katie Gallagher and published on October 5, 2017, delivered some statistics about house hunting in hopes of finding a Haunted House. Turns out depending on the age of the person looking for a home some might not even mind these paranormal roommates. Read on to find what her findings came up with.

Although paint touch-ups and landscaping can boost the appeal of your home, it may be smarter to host a séance. That’s because a haunted house can spook away homebuyers. They found that most Americans consider both deaths and hauntings when finding their next home. Millennial men are the exception, with some possibly dying to live in a haunted home, according to Trulia’s September survey, conducted online by Harris Poll among 2,098 U.S. adults ages 18 and older.

With Halloween just around the corner, many Americans have fun celebrating this spooky time of year. But how many Americans really believe in the supernatural? Who is checking the basements and closets for ghosts and ghouls when they’re in an open house? Where do people draw the (chalk) line on how much horror they can handle at home?

Turns out, many Americans may fear the sinister in their homes. When asked if they would consider purchasing a haunted house, 43% of Americans say they would be less likely to buy a home if there was suspicion that something ghostly occurred there.

Additionally:

Bring on the Scare: Only three in 10 Americans (30%) answered yes when asked if they would live in a home where a death had occurred.
Macho Millennial Men: 28% of millennial men (ages 18-34) say they would be much or somewhat more likely to buy a home if there was suspicion that the property may be haunted.
Seniors Aren’t So Spooked: 61% of those ages 65 and above say they are no more or less likely to buy a haunted house, compared to 45% of those ages 18-54.
More Degrees, More at Ease: Only 33% of Americans with a graduate degree are somewhat or much less likely to buy a haunted house, lowest of any other education levels. This compares to 50% of those who completed some high school or less, 45% of those who completed high school/GED, 42% of college graduates/those who completed some graduate school, 41% who have associates degree or job-specific training.
Fear of Aging? Or Aging Away Fear?
Although many Americans may be spooked, there are some demographics that seem to be more afraid. Age and gender appear to have a strong influence on people’s feelings about the unnatural. What we found is when it comes to ghosts, the more gray, the more blasé.

Seniors were by far the age group most likely to be unfazed when it came to living in a haunted home. Compared to 45% of their younger counterparts (ages 18-55), 61% of seniors, aged 65 and older, say they are no or more less likely to buy a haunted house. When it came to living in a home where a death had taken place, older adults were also most likely to be unfazed, with 39% of those ages 55+ saying they would live there compared to only 24% of those ages 18-54.

Not So Afraid of Monsters Under Their Beds
While seniors are not disturbed by the prospect of hauntings, some millennial men appear to be not only unafraid but possibly eager to live in a haunted home. Of all male age groups, millennial men are the most likely to say they would purchase a home if there was suspicion it was haunted – 28% of millennial men would be more likely to purchase a home that may be haunted compared to just 7% of men ages 35+. Perhaps they are too busy looking at their phones to realize there is a ghost lurking.

Not in My House
Determining who’s most sensitive to hauntings came down to relationship status and education. It could be that having a partner around gives more peace of mind for the creatures that may be under the bed, because only 18% of singles said yes, they would live in a home where a death had taken place. This compares to 31% people who are married or living with a partner.

Levels of education also impact people’s likelihood to live in a haunted home. 50% of Americans without a high school degree are somewhat or much less likely to buy a haunted house, the highest proportion of all education levels to feel this way. Compare that to 45% of high school grads/GED’s, 42% of college grads/completed some graduate school, 41% with associates or vocational training and 33% of those with graduate degrees. So that’s what higher education is teaching these days.

Location, Location, Location
Regardless of whether you’re looking for a fright or avoiding the fear, it may be helpful to find out what lurks in listings. From streets with bad omens to live-in ghosts, we analyzed listings data to find the States with the Spookiest Homes. We looked at the most recent listing to find homes that included words like haunt, haunted and haunting. In addition, we checked our listings to find homes currently for-sale on streets named Elm, Fleet, Cemetery and Blood as well as homes that included some ghoulish terms in the listing descriptions.

The most sinister?
Texas has the spookiest listings in the U.S. with 198.
Looking for your own Nightmare on Elm Street? There are currently 46,680 homes for sale across the U.S. that are located on an Elm Street.
Which state has the most? California with 5,455.
If a demon barber is more your style, head to Maryland as there are 333 listings on a Fleet Street. But beware any bakeries or barbershops on your street.
Across the U.S. there are 1,536 listings on a Fleet Street.

Whether you’re a believer or a denier, stock up on plenty of sage, salt and garlic this October and have a Happy Halloween.

What is happening in the Housing Market?

What is happening in the Housing Market?

Marshallfield - front

Recently, an article in Housing Newsletters caught my eye when it was discussing the reasons that housing has room to run. In Palos Verdes and the South Bay, prices seem to be increasing or holding their own when it comes to the market. As seen in my market surveys the market is still moving forward. Here are some of the tips that the article was stating.

Rates seem to be doing more rising than falling recently. In some areas home sales have been leveling off, but that also could be because of time of year. One of the first pieces of evidence was in the form of Friday’s Consumer Price Index CPI. This important inflation report has had a big impact on interest rates in 2017. If this data suggests that the Fed needs to hike rates faster or slower, the bond markets will quickly adjust to account for the shift in expectations.

At the end of 2016 the Fed felt that they could continue to hike rates due to the strong labor market and policies associated with the new administration. However, while continuing to hike rates inflation hasn’t risen to the Feds defense. In fact, inflation is trying to hold the line.

The sharp drop to recent lows is why the rates haven’t moved higher as forecaster predicted. Actually analysts expected inflation to begin lifting off from the lows citing the impact from higher fuel prices due to the hurricane season. While they did rise abruptly, other price measurements offset the fuel effect making the reading lower than expected.

The good new about low inflation is that it does help rates. Even the stock market doesn’t mind the news. Mostly they were already drifting higher due to reports earlier in the week. In focusing only on rates, good things area happening  with the inflation data helping to reinforce a bigger ceiling around 2.4% in terms of 10 yr Treasury yield which is the most followed benchmark for longer term rates such as mortgages..

Housing magazine this past week discussed mortgage lending guidelines, which could end up being twice as loose as they are now and that could bring us back in like with historical healthy levels.This would help bring more potential buyers into the market from the guideline changes .

Another interesting piece of the report from CoreLogic was the comparison of the current housing boom/bust cycle to past examples.  In many areas prices still haven’t crested to pre-crisis levels, which means there is more room to run. This does vary from market to market, but the bottom line is that some of the price appreciation that has been seen in the past 5 years has to do with how hard we fell at the start of the crisis.

Photo courtesy of the MLS.

 

If you have any questions about the real estate market, or if you are interested in selling or purchasing residential or commercial property please feel free to contact me.

 

 

Going Green in Honor of St. Patrick’s Day

st_patricks_day_2You’re ready to make some changes to your home, but you want to be smart with your money and see a positive return on your investment.

While most homeowners don’t see that return until they sell their home, you can start seeing the benefits now through conserving energy by making your home green. Continue reading

Test Your Rental IQ: Home Rentals In Palos Verdes

Real Estate IQWhether you are a renter, or perhaps you have recently become a landlord, how much do you really know about your legal rights and responsibilities?

The U.S. Census Bureau estimates there are more than 100 million people living in rental housing in America today, which is just less than one-third of the population. Continue reading