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DD Web • Jul 31, 2017

Millennial Appeal: Which Real Estate Markets Have ‘It?’

For the fourth consecutive year, millennials are the largest group of homebuyers in the United States, according to the National Association of Realtors 2017 Home Buyers and Sellers Generational Trends Report. Nearly 40% of home buyers are currently under 36 years old, and that number (and their hunger for home ownership) is growing. By 2025 millennials will make up 75% of the world’s working population and will have an impressive amount of collective purchasing power.

Across the country, real estate markets are much healthier than they have been in years, and property values are hitting new highs. Some places, however, have not only recovered better than others but are poised for continued growth with millennial homeownership– including Salt Lake City. In fact, it topped the list of the 10 U.S. cities millennials want to live (*high five* *fist bump* *secret handshake*).

We’re not surprised — but what, exactly, makes a real estate market a millennial magnet? Let’s take a closer look at what’s piquing their interest.

Millennials want homes over 2,375 sq. ft. (on average) and nearly half surveyed in the March 2016 National Association of Home Builders study said they wanted at least four bedrooms, an outdoor space, shower and tub in the master bath and hardwood floors on the main level of the home.

49% percent of millennial buyers had at least one child, also according to the report (up 6% from two years ago) and are purchasing homes with their partners.

Though marriage rates have declined, the number of U.S. adults in cohabiting relationships reached nearly 18 million last year, up 29% since 2007. About half of those cohabiters are younger than 35 with dual incomes that support home ownership.
55% of millennials are enthusiastic about home ownership as an investment, and over half would invest in property other than their primary residence.

Economic growth and relative affordability make these markets really attractive to first-time home buyers. Of all the markets on the list, Salt Lake City had the lowest unemployment rate at 2.9%, well below the national unemployment rate of 4.7%.

High job growth and the power of affordability make these markets attractive to millennials. A burgeoning tech scene that lures young people to companies, Salt Lake and neighboring cities is a high tech mecca known as ‘Silicon Slopes’ with homes at one-third of Silicon Valley prices.
We’ve always known Salt Lake City was an ‘it’ real estate market — and its appeal is only gaining speed. If millennials are checking out your city, pay attention! Some must-haves on their list often include short commutes, outdoor amenities, cultural centers, a good food scene and something fun to do on a Friday night…but most importantly, upward mobility and a secure financial future. Not too much to ask, right?

Do you know WHO picks your Title Company?

By Stephanie Cline • 29 Mar, 2024
Hey there, future homeowner! So, you're diving into the wild world of real estate, huh? Exciting times ahead! 🏡 But hold up – before you pop the champagne, let's talk about something crucial: choosing your title company. Now, who gets to decide on this? Spoiler alert: it's you! Sure, your real estate agent or lender might throw a few suggestions your way, but ultimately, the choice is yours. So, let's make it count! First things first, do some snooping around. Check out different title companies online, ask your pals for recommendations, and see what vibes with you. You want someone reliable, experienced, and who's got your back, no matter what. Oh, and don't be shy – ask questions! Seriously, grill them like you're on a first date. How long have they been in the game? What's their process like? And most importantly, can they handle your quirks and concerns like a champ? Remember, this isn't just about paperwork – it's about peace of mind. Your home sweet home is a big deal, so choose a title company that feels like the perfect fit. Trust me, it'll make all the difference when it's time to pop those keys in the door!

February Giveback- For The Kids

By Stephanie Cline • 29 Feb, 2024
February is not just about Valentine's Day chocolates and romantic gestures; it's also about spreading love and kindness to those who need it most. And boy, did we have an amazing time doing just that with our February Giveback! This month, we teamed up with the incredible For The Kids nonprofit to make a difference in the lives of children in our community. And let us tell you, it was a heartwarming experience from start to finish. First things first, our team rolled up their sleeves and dove straight into action. We spent a day volunteering, packing a whopping 100 meals to be delivered to those in need. The joy of knowing that these meals would bring smiles to the faces of children warmed our hearts in ways we can't even describe. But we didn't stop there! Oh no, we were just getting started. With our sleeves still rolled up and our spirits soaring, our very own Joe packed the truck with all those delicious deliveries for that Friday. The excitement was palpable as we imagined the happiness these meals would bring to families across our community. And guess what? Our amazing supporters rallied behind us in full force! Through their generosity, we collected over 100 additional items to donate to For The Kids. From canned goods to pantry staples, every single donation meant the world to us and to those we're helping. As we reflect on our February Giveback journey, we can't help but feel overwhelmingly grateful. Grateful for the opportunity to make a difference. Grateful for the support of our community. And most of all, grateful for the chance to spread love in every way we can. It's worth mentioning that our dedication to For The Kids goes way back – we supported their mission back in 2021, and we're committed to continuing this beautiful partnership for years to come. To everyone who volunteered, donated, or simply cheered us on from the sidelines – thank you. Thank you for believing in the power of kindness. Thank you for joining us on this incredible journey. Together, we're making the world a brighter, happier place, one meal and one smile at a time.

Nova Reveal 2024!

By Stephanie Cline • 31 Jan, 2024
The curtains have risen, the confetti is in the air, and we are ecstatic to share the electrifying plans Novation Title has in store for 2024! This year's big reveal event was nothing short of a spectacle. Hosted on Zoom, it was a virtual fiesta with most of our incredible team. We kicked off the event with a bang, unveiling not just launches but also insights from a unique case study involving over 250 Agents. Picture this: a backstage pass to what the real estate game-changers need in 2023. It's a report that's about to revolutionize the way we navigate the real estate landscape. There were reminders of the tools that spark creativity at Novation Title – from ecording rooms to meditation rooms. We also shared all about Nova Connect, and an exclusive savings opportunity. A mic drop moment, unveiling our Referral Program, updated Diamond Partnership and Diamond Plus perks, and our Nova Show: Real Estate Records Podcast now with fresh episodes every week. As if that weren't enough, Novation Title is officially rocking the YouTube scene as of Season 3! The website got its moment in the spotlight as we went through its hidden treasures. Real Estate Pop Bys, the Title Rate Calculator – it's like a digital treasure hunt. And let's not forget the Nova Academy Calendar, our roadmap to success with all of our class schedules. Speaking of Nova Academy, we shared the excitement about upgraded classes tailored to your needs. Learning just got a whole lot more thrilling! We put the spotlight on Nova Stories – and how we have updated this experience to help you. Lights, camera, action! Novation Title's values – the Give Backs that have shaped our community. From Primary Children's Hospital to Sub for Santa, we've been making a difference for over six years. We are so excited for all of our upcoming community services. Novation Nation, are you as pumped as we are? The future is now, and we're ready to take 2024 by storm. Stay tuned for more updates, adventures, and game-changing moments from Novation Title. Here's to an extraordinary year ahead!
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