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Skip the starter home and go straight to luxury

January 26, 2023 By Geoffrey Disch Leave a Comment

Green Escrow | Real Estate News

We’re being facetious, of course, but starter hoes – generally smaller, two-bedroom units – closed out 2022 with 15 percent year-over-year price increases.

Meanwhile, luxury homes – here defined as the 10 percent most expensive homes in any given market – saw a modest 2.5 percent increase at the close of 2022.

What gives?Analysts agree that luxury home purchases are more discretionary – and with the stock market down – many feel that it is simply not a good time to buy.

Starter homes are the opposite – buying fulfills a need, not a whim – and the competition is much more fierce, thus driving up prices

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Filed Under: Real Estate Tagged With: starter homes

Where are the starter homes?

September 26, 2022 By Geoffrey Disch Leave a Comment

Green Escrow Services | Young Family

A recent article in the New York Times highlights an important facet of the nationwide housing crisis: starter homes are no longer being built. Homes that are affordable for young families just starting out or recent immigrants trying to get a foothold in their new country.

The reasons are many: land and building materials are much more expensive, rules and regulations are much stricter (and the fees higher).

Analysts say that one solution may be to go back to what starter homes looked like 100 years ago: duplexes and rowhouses.

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Filed Under: Real Estate Tagged With: starter homes

Homes are getting bigger

November 29, 2021 By Geoffrey Disch Leave a Comment

Green Escrow | Real Estate Market News

According to the U.S. Census Bureau, the median single-family home in America is now 2,337 square feet. Most cite the pandemic as a catalyst as families are now using the home for work and study as well as living space.

Existing homeowners have been remodeling and expanding during the pandemic. Realtor.com defines a “starter home” as one that is less than 1,850 square feet. The supply of starter homes has declined by more than 50 percent in the last five years with only 300,000 available for sale in September 2021. The price for such a home is now 11 percent higher than a year ago.

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Filed Under: Real Estate Tagged With: bigger homes, starter homes

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Our clients say...

“I have had the pleasure of working with the people at Green Escrow over the past 20 years. Everyone there has a "can do" attitude and a very efficient work ethic. Green Escrow's success is due to the supportive nature and professional attitude of their employees.”
by Dennis Harvey, J. Rockcliff Realtors

2010 Crow Canyon Place
Suite 212
San Ramon, CA 94583
Office: (925) 523-3232
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