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Thank you so much for taking the extra effort to make our first home purchase successful. You were there guiding us through all the crucial and important steps! You really listened to what we wanted in our home and you found exactly what we were looking for - at an amazing price! If we ever outgrow this home, we'll definitely be calling you! The Freeman Family
It gives me great pleasure in expressing my sincere appreciation for the rare professionalism displayed by agent, Sylvia Lambert, in negotiating the recent sale of my real estate property. Sylvia was undeterred in her efforts to sell the property. She coordinated each and every aspect with precision. She made sure that every detail was covered. In addition, her pleasant disposition and manner made things easier during difficult times. Jerome T. Cater
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Housing stats and analysis from NAR

35th Anniversary for the Profile of Home Buyers and Sellers

On October 31st, NAR will release the 2016 Profile of Home Buyers and Sellers. NAR has been producing this survey research report since 1981. To mark the 35th year of publication, we will be highlighting some of the key trends gleaned from the Profile series with new infographics and trendlines.

The report has grown and evolved with changing home buying trends and the need for more information. The 1981 survey was just 59 questions long. The 2016 survey contained 132 questions. Although the report has evolved, data has been collected for more than three decades describing the demographic characteristics of home buyers and sellers, buyers and sellers experience in the home transaction process as well as market characteristics including the use of real estate agents. One measure of how the market has changed is the manner in which the data is collected. In 1981 only a paper copy of the survey was offered. Today recent home buyers can take the survey via paper or online, and in English or Spanish. Because of its long history and timely information available each year, the report is valued by REALTORS®, market analysts and policymakers.

Data is collected from a nationally representative sample of recent home buyers who purchased a primary residence in the 12-month period between July and June. Data is also representative of the geographic distribution of home sales. Consumer names are obtained from Experian, a firm that maintains an extensive database of recent home buyers derived from county records.

Today the data set provides such a wealth of data that it is used to create a number of “spin-off” reports including: Home Buyer and Seller Generational Trends Report, Recent Home Buyer Profiles, Profile of Home Buyers and Sellers in Sub-regions, Real Estate in a Digital Age, Veterans and Active Military Home Buyers and Sellers Profile, and Moving with Kids.

To jump start the anniversary we begin with a trendline collected since 1981 showing the method sellers uses to sell their home. Today there is an overwhelming use of real estate agents in the home selling transaction. In 2015, a high of 89 percent of sellers opted to sell their home with the help of a real estate agent. Just eight percent of sellers sold via FSBO—the lowest share recorded since 1981.

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Follow along with new content for the anniversary with the hashtag #NARHBSat35.

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Styled, Staged & Sold

Master Bathroom Remodels Are Going High-Tech

By Melissa Dittmann Tracey, REALTOR® Magazine

Home owners are increasingly investing to create luxurious, modernized master baths, according to the 2016 U.S. Houzz Bathroom Trends Survey of more than 2,100 home owners who are planning or recently completed a bathroom renovation project.

Of those surveyed, 20 percent say they are updating the toilet; 12 percent are updating a tub; and 9 percent are updating a shower with high-tech features.

High-tech toilet features home owners say they’re incorporating include self-cleaning functions, motion-activated seats, or built-in nightlights. Popular high-tech bathtub features are built-in lighting, heated backrests, and scented mist dispensers. The survey also showed the most popular high-tech shower updates are mood lighting, digital controls, and built-in sound.

Other popular luxury features that home owners say they’re spending on are rainfall showerheads (among 54 percent of those updating showers); bathtubs with room for two (20 percent of those upgrading tubs); adding chandeliers (17 percent of upgraded light fixtures); and bidet-equipped commodes (6percent of upgraded toilets).

19th St
Master Bathroom
2012 New American Home

Home owners surveyed who recently completed a project say they most wish they had installed radiant heating, towel warmers, and super-sized showers during their bathroom renovations.

Of the remodeling home owners surveyed, two in five say they spent between $10,000 to $25,000 on master bathroom renovations. Another one-third surveyed said they spent more than $25,000.

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Mortgage Information Disclaimer:

Any mortgage information contained herein is provided for informational purposes only and is not to be relied upon.  Please contact a lender directly to learn more about its mortgage products and eligibility for such products.  Lifelong Realty, Inc. is not a mortgage lender, but is one of the top independent and locally owned real estate firms in RVA.