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…is actually two terms using three words? According to Dictionary.com, the word of the year is “demure.” According to Oxford, it is “brain rot.” Though both can apply, depending on the situation, they can’t both be the word(s) of the year. Right?
Why don’t you decide? Here is what Dictionary.com says about demure: “The word demure experienced a meteoric rise in usage in 2024. Between January and the end of August, this term saw a nearly 1200% increase in usage in digital web media alone.” This phenomenon is mostly attributable to a TikToker whose videos using the word went viral. What an incredibly “2024” reason!
As for brain rot, Oxford has this to say: “Our experts noticed that brain rot gained new prominence this year as a term used to capture concerns about the impact of consuming excessive amounts of low-quality online content, especially on social media. The term increased in usage frequency by 230% between 2023 and 2024.”
“Demure” has traditionally been used to describe someone reserved, quite, or modest, the new social media usage of it is to describe a refined or sophisticated appearance. “Brain rot” is pretty self-explanatory, but defined as “the supposed deterioration of a person’s mental or intellectual state, especially viewed as the result of overconsumption of material (particularly online).”
Both of those definitions check out and I can see why they would be chosen as the Word of the Year for 2024, given what we all went through this year! Now, take your pick. Which should be the real Word of the Year for 2024? Or, suggest your own!
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The National Association of Realtors (NAR) released its 2024 Profile of Home Buyers and Sellers last month. I got my cliff notes of the report from a newsletter by Jason Barlow of Arbor Financial Group but you can read the full NAR report here.
The NAR Profile helps people like me, Jason, and others in the real estate industry understand what buyers and sellers are looking for. Here are the basic takeaways:
Shift in First-Time Buyers: first-time buyers made up only 24% of the market this year, the lowest share since 1981.
Aging Buyer Demographics: the average first-time buyer is now 38, up from 35 in 2023, and repeat buyers are typically 61, showing a trend toward older buyers.
Family and Home Choices: only 27% of buyers had children at home, the smallest share to date. Plus, 17% purchased multigenerational homes.
Financing Trends: cash sales are up, with 26% of buyers paying fully in cash – a record high.
Agent Loyalty: buyers and sellers still overwhelmingly choose agents they know, with 40% of buyers and 66% of sellers using a referred agent.
Technology’s Role: 43% of buyers’ first step was online, with the internet being the main tool for their search.
If you are considering buying or selling, a discussion about the process, market, and your expectations is a great place to start. Give me a call if you want to understand more about the process or email me directly: Kristin.lanham@bhghome.com.
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I hope you and yours are preparing for a happy Thanksgiving dinner tomorrow evening. I love having family and friends around the big table swapping delicious sides and stories on one of the most memorable holidays of the year. And, for you, I want to share some fun trivia about Thanksgiving!
On average, how many questions does the Butterball Turkey Talk-Line field from callers during the holiday season?
In 1995, this popular Thanksgiving vegetable was the first to be grown in space.
What year did “A Charlie Brown Thanksgiving” debut on television?
Which U.S. president was the first to officially pardon a turkey?
According to the National Turkey Federation, roughly how many turkeys are consumed each Thanksgiving?
Let’s see how many you got right – and then try to stump your Thanksgiving guests with a few of the trickier trivia questions!
On average, how many questions does the Butterball Turkey Talk-Line field from callers during the holiday season? ANSWER: 100,000
In 1995, this popular Thanksgiving vegetable was the first to be grown in space. Answer: The potato
What year did “A Charlie Brown Thanksgiving” debut on television? Answer: 1973
Which U.S. president was the first to officially pardon a turkey? Answer: George H.W. Bush in 1989
According to the National Turkey Federation, roughly how many turkeys are consumed each Thanksgiving? Answer: About 45 to 46 million
There you have it! Some of the craziest turkey trivia questions you can imagine. Also… there is a National Turkey Federation? Who knew? Enjoy your holiday, everyone!
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I’m a sucker for a good bakery. Luckily for me, there are plenty of them in Walnut Creek, including a new one called Model Bakery on N. Main St. right next to Tomatino. I took a visit to Model the other day to check it out. I was struck by the beauty of the bakery, both on the outside and inside. But how did the food stack up? Watch my short videos below to find out.
So… a beautiful location, delicious food, and good coffee. But, like everywhere else in town, it comes with inflated Walnut Creek prices. Nothing you can do about that! It turns out that Model Bakery has been a popular location in Napa Valley for almost a century. They specialize in artisan, organic breads and pastries.
Model bakery is privately owned with their roots in St. Helena and Karen Mitchell, once a successful caterer has been the current proprietor for nearly 30 years. Apparently they are famous for their robust English Muffins, they even made Oprahs favorite list one year. They are also located in Napa, Yountville and now Walnut Creek. Give them a try and let me know what you think!
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Last month, Jason Barlow of Arbor Financial Group sent an interesting newsletter about the rising costs of utilities and rent and how all of that affects home values. I wanted to share some of that information with you here (and add my own takes).
Right now, rent and utilities are outpacing home values for the first time in a decade. Last year, rent increased 3.8% while home values only grew 1.8%. Nearly half of renters are spending 30% or more on their income on housing. And minority households are facing the highest burden, with Black renters at 56%.
Those figures are certainly something to keep in mind if you’re deciding between buying and renting. Here is an article from The Washington Post that lays out all this information in more detail. As a realtor, I find incredible value in homeownership (if only as a form of long-term investment that can create generational wealth for your family). But I understand the markets and economy fluctuate, taking these rent and utility costs with them.
Kristin’s take: Right now, if you have been on the fence in buying a home or an investment home, I think is a great time to get into the housing market. We still have low inventory, however we have seen price reductions. In this graph many of the lenders are anticipating rates to fall next year (see graph above). Get in now, before everybody gets into the market – marry the house, date the rate – then refi when rates start to go down. You most likely will get a lower price now than when rates go down.
I work for Better Homes and Gardens, and I wanted to share their new campaign here because I think it is pretty cool! They are sharing ads like the one in the video below to encourage clients and potential clients to see why Better Homes and Gardens knows homes better, and how that can help YOU!
As an employee of Better Homes and Gardens Reliance Partners, we are the only company under the Anywhere Brand that is under the BHG umbrella and thus associated with the BHG Magazine. We got a new CEO this year named Ginger Wilcox and I have to admit she is really on point with updating the brand. The magazine is iconic and melds so nicely with real estate, thus our new tagline. I am excited what new ideas she will bring to the table. I am proud to work under this brand, I now think it is cool and promotes the lifestyle clients want to lead. We act as personal property curators. We pay attention to all the little details that make a future home a source of joy and pride, whether it’s a fixer with tons of charm and potential or a fully remodeled estate. A BHG real estate sign is a sign of a home where better living begins.
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I recently went to Sebastopol for a paella lunch at Marimar Winery. My friend from Reno who knows the owner and is a club member asked if I wanted to come. We got to stay at a guest house for two nights and had a wonderful time. Marimar Winery is a beautiful place and Sebastopol is one of those cute little towns that gets lost in the shuffle of all the cute little towns around us, but so worth a visit!
We started our road trip Friday evening and stopped in Graton at the Underwood Bar & Bistro for a drink and heavy appetizers that were absolutely delicious and surprisingly busy for a small town.
The next day was the actual paella lunch. For those that haven’t had paella, it’s a famous Spanish cuisine made of rice, chicken, and seafood (or other meats, depending on the chef). It’s cooked in a large wok-like pan (a paella dish) and served family-style. It’s truly a cultural cuisine experience and one of the tastiest things you’ll ever eat! This recipe was out of the Marimar cookbook and was served with some tasty tapas and a wine pairing. She comes from a Castilian family raised in Spain, where her family also has a winery. In the 1970s, she bought land in Sebastopol and started growing grapes in the European style and now has her adult daughter helping her run the winery.
As you can see from these photos, it was a wonderful visit to Sebastopol. There was a robust and diverse crowd, which gave me a chance to meet and talk to some folks and make connections, and of course, the wine was wonderful. I highly recommend a visit to Marimar Winery (and check out some of their annual events!), but you have to wait until next October to get you some paella!
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With two weeks to go until the Presidential Election, you are probably very tired of hearing about it. However, I think this is an angle that you should take a moment to think about when casting your vote. How does the election impact the housing and real estate market?
According to the below video, the result of this election is very unlikely to alter the market much in either direction. Vice President Kamala Harris, the Democratic candidate, has proposed federal grants to increase the amount of housing available, as well as to credit first-time homebuyers and make buying easier. Donald Trump, the Republican candidate, has said he would continue Fed Chair Jerome Powell’s term.
Analyses of those respective platforms say that little movement would be expected, as is historically normal in presidential election years. One thing that does tend to happen is that home sales slow during the election month (November), but quickly bounce back and rise the following year, with prices climbing steadily. Mortgage rates typically come down slightly.
So, why should that matter to you as a voter? Well, if you have any plans to buy or sell a home in the next year or so, it can just add a layer of uncertainty to the whole process, however there is always something going on. Luckily, that’s where I come in! Let me use my expertise to help you navigate the market and find you your dream home or get the best return on selling your home.
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I recently had the pleasure of working with amazing relocation clients moving from Minnesota to Livermore. With only three days to find their perfect home, we toured 10 homes in a single day. It was a long day, but well worth it in the end. They really wanted a pool, and the property on Empress Ln. in Brentwood checked all their boxes.
The seller did quite a bit of work refinishing hardwood floors, replacing windows with broken seals, and painting. There was still some work to be done at the end, so we got a $15,000 credit (the water heater, for instance, needs to be replaced and there was a leak in the pool).
The biggest issue we found was that the solar was only producing about one-third of the energy it was supposed to, and the bills were still very high. We had to search high and low for someone to do an inspection on that, and someone finally come out and give us some details. Older solar panels, when you don’t know who installed it, got bought out and the owner did not have the name of the new company is never an easy task to get resolved or find someone to repair.
This was a whirlwind process from start to finish, but them through the process and working with amazing clients made it all worth it. The home is a 5-bed, 3-bath, 3,844-square foot home and they couldn’t be happier! Whether relocating or buying locally, I’m here to make your journey easy and stress-free!
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My writer and his family were startled awake by a storm that carried much more power than expected last week. They live in Asheville, NC, one of the hardest-hit areas by Hurricane Helene. Though he and his home escaped any major damage, his entire neighborhood was filled with downed trees, smashed roofs, and other destruction.
The worst of the damage to my writer’s home in Asheville: a smashed A/C unit, a fence, and one gutter. He says they are much luckier than most people they know in the area!
Here in California, we deal with the effects of wildfires in many of our communities and live amid the fear of “the big one” hitting a major fault and triggering a massive earthquake. Beyond all the loss of life and property that results from these disasters, the real estate market can take a big hit. Here’s some info on how those markets are affected, paraphrased from this real estate blog:
There is typically a sharp decline in property values immediately after a natural disaster. Homes can suffer serious damage and be in need of repair. Those repair costs, plus a perceived increased risk of future disasters, diminishes appeal and demand. If many in the area were underinsured or uninsured, there could be financial difficulties that lead to foreclosures and an even longer-term depressive effect on market prices.
Of course, investors might see a place hit by disaster as a strong bet for long-term recovery and appreciation and could swoop in and purchase properties at low prices. This can provide much-needed capital for rebuilding efforts but also lead to gentrification and displacement of residents who are now priced out of their communities.
In the long term, markets tend to adapt to the reality of natural disasters, including new building codes and zoning laws to mitigate future risk (think, elevating homes in flood-prone areas or enforcing stricter fire-resistant materials in wildfire zones). That can lead to increased building costs likely passed on to buyers and raising overall market values.
Finally, how quickly and competently the government responds to a natural disaster has a huge influence on the market’s trajectory. Timely and robust support can help stabilize markets and reassure potential buyers, but the opposite response can exacerbate the negative impacts on property values and investor confidence. If the variables align positively, a destroyed market can bounce back, sometimes even stronger.
One other issue the housing market in California is currently facing is the lack of insurance companies willing to insure new homeowners. Insurance has now become a contingency in the contracts because if you can’t get insurance, you can’t close on a loan. Rossmoor, our senior community, currently has a fire insurance coverage issue and can’t find lenders that will finance the homes in that community, thus they are all-cash closings.
I have referred a handful of clients to a current lender that seems to get buyers insured. However, my most recent closing he could not and they found only one company (Mercury) that would insure in Brentwood. I think they have quotas for specific areas and this problem was not helped by California putting limits on how much an insurance company can charge. It is this point that has caused so many insurance companies to leave California and I am unsure what the solution is.
Understanding all of these possibilities and variables can help buyers and sellers make informed decisions. There is no foolproof way to insulate a market from the effects of a natural disaster, but being diligent about preparedness, recovery effort, and strategic planning can pave the way for growth later. On a side note, I just saw an article about one home that did not burn in the Lahania fires while everything else burned around it. It was a newer build and had some fire hardening; maybe a wave of future possibility?
