Hi everyone, and welcome to this week’s Zebra Report. Today, I get to “EAT MY WORDS”.
Years ago, when I started the Zebra Report, I had a client of mine ask me if I was nervous about blogging because once I put my thoughts into words I can’t take back those words. If I say them and print them, then shouldn’t I stand by them? Well technically that is correct, but practically it isn’t realistic when things change. It is okay to change your mind and it is okay to change your position on things. The one thing I do know is that there is always change! Life is fluid and new trends and situations bring about change. Change can be good and change can be difficult, but there is no getting away from it.
So here I find myself having to “EAT MY WORDS” because today is a day when I am going to have to admit that something I thought would never happen and something I have long predicted would not happen has happened! Okay so what is it you ask? For the past decade I have been reporting that the bigger home was no longer in favor and that the McMansions were on their way out.
I have been researching changes in our market and have been trying to figure out if Covid has had any impact on the type of housing or the location of housing. Well guess what I found out? There is suddenly a VERY high demand for larger houses.
Why? Well, your home is no longer just a home. It is an office. It is a school. It is a gym and recreation center. It needs to be everything, because right now, we are in the “Covid Era.” We are in a time where we need to utilize our space to stay safe. Parents need space to teach their at-home children. Professionals need space to work in a focused manner. And then everyone needs space to work out if they can’t go to the gym or have some down time.
Keep a look out on your MLS for that product, and you’ll see that buyers are willing to pay a little extra (and sometimes a lot extra) for the bigger home.
Will this change over time? Probably. In fact, it will almost certainly change as our world and our needs change. That is why it’s so important to stay in touch with your market and on top of your market’s trends. And it is even more important to call out those trend changes when you see them. So today I am sounding the “larger home” ALARM! People want more space not because they need more living space but because they need more office, schooling, exercising and relaxation space.
I never thought these words would come out of my mouth, but I’ll be the first to admit that I’m eating my words!
Until next time, have a great week!
By Denise Lones CSP, M.I.R.M., CDEI – The founding partner of The Lones Group, Denise Lones, brings nearly three decades of experience in the real estate industry. With agent/broker coaching, expertise in branding, lead generation, strategic marketing, business analysis, new home project planning, product development, Denise is nationally recognized as the source for all things real estate. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.