Open House: 4391 Pembroke Dr. (Concord)

The Kristin Lanham Team has another beautiful home going on the market – this one is in Concord, on Pembroke Dr. Take a look at some of the pictures below, and swing by for a peek at our Open House this weekend!
 
The home is a cozy, mid-century charmer with a serene, quiet backyard. There is room for an RV or a boat, which includes a spa and storage shed, all surrounded by professional landscaping and lots of plants and flowers.
An open concept makes it warm and welcoming. The updated kitchen with its expansive island is the centerpiece for family gatherings and additional storage. The open-beamed ceilings add to the interior charm. There are stylish updated bathrooms, dual-pane windows, lots of natural light and great flow from outdoor to indoor for entertaining.
 
This house has been meticulously loved – an updated, warm interior and a vibrant backyard planted specifically to attract hummingbirds, butterfiles, and bees.  A perfect place to call home!
Come take a look at the Open House this weekend from 1-4 p.m. on both Saturday (9/9) and Sunday (9/10)!
3 bedrooms | 2 baths | 1250 sq. ft. |.17 acre lot
Offered at $580,000
To take a virtual tour of 4391 Pembroke Dr., click HERE!

Let’s talk about Millennials and Real Estate

My sons are Millennials. My Walnut Creek Lifestyle freelance writer is a Millennial. More and more of my clients and colleagues are Millennials, as that generation continues to age into home-buyers.

So, realtors like myself are starting to notice more trends with the market geared toward that age group. It’s a different real estate market for Millennials than it was for their parents – nowadays, they are graduating with huge student loan debts, having trouble finding lucrative work out of college, and then struggling to pay sky-high rents and mortgages once they do get jobs.

That said, Millennials are driving the real estate market right now, which has made the following observations more obvious.

From San Francisco realtor John Solaegui:

  • There is a low inventory of single-family homes in San Francisco
  • Millennial buyers don’t care about parking spaces (though this might be more prevalent in San Francisco – it’s contradicted by the graphic above!) with the rise of ridesharing apps – they’d prefer having decks or gardens for outdoor entertaining
  • Areas like Noe Valley, Glen Park, Bernal Heights and The Sunset in San Francisco are extremely popular with Millennial buyers right now

From the California Association of Realtors’ REALTOR Magazine:

  • Millennials are cashing in on equity at a historic rate, thanks to rising home prices
  • One-third of Millennials say they are considering applying for a HELOC (home equity line of credit) in the next 18 months – much more than Gen-X or Baby Boomers
  • HELOC’s are popular with Millennials because they can consolidate debt and afford home remodels with them

I think this is an interesting trend in our market. Home prices are high, but so are the debts and loans owed by Millennials, so we’re seeing more and more interest in new ways around that issue. And even more interestingly, Millennials are changing the way we market homes – who cares about parking when you don’t have a car, right?