James Y. Kuang Realtor Blog Real Estate San Gabriel Valley Homes For Sale: March 2018

Tuesday, March 20, 2018

3 Floor Plan Fads You’ll See More Often

Home floor plans can take much longer to evolve than design trends. Changes tend to occur over years, as some designers and architects look to push the envelope and take a gamble on what they believe will resonate with buyers. But a few trends are starting to emerge.

BUILDER recently weighed in on some of the hottest fads that could impact more floor plans in 2018, including:

1. Flexibility for multigenerational households. More homes are being built to accommodate multigenerational households, such as with a main-level bedroom suite or even an in-law unit to offer privacy to cohabiting relatives. Flexible layouts that can accommodate a variety of living arrangements are growing in demand, builders say. In 2014, 60.6 million Americans resided in multigenerational households, according to the Pew Research Center. Homeowners may not need the extra space quite yet, but they desire to use it one day. The extra bedroom on the main floor may be outfitted as an office or study until it’s needed.

2. The modern farmhouse. White farmhouses are in high demand. These homes are characterized by large windows, simple roof lines, and bright white siding that may be paired with dark windows. “The modern farmhouse aesthetic seems to have struck a chord with the American home buyer because it relates back to a more bucolic era while also embracing all the needs of modern life,” says Jonathan Hyman, architectural department manager at Donald A. Gardner Architects. “The simplicity and clean lines, along with a little nostalgia, help the modern farmhouse create a relaxing environment in our chaotic contemporary lives.” Some designers are experimenting with adding more color to the farmhouse look, like in soft pastels of light green or soft tan colors.

3. Greater storage options. Storage is getting more emphasis on floor plans. Mudrooms and laundry areas are showing up on more home layouts as separate spaces rather than combined areas. Homes with open layouts are finding more need for storage to tuck away items. Mudrooms are popular as drop zones for backpacks, coats, and shoes. Also, the placement of this storage is getting more consideration in regards to homeowners’ lifestyles. For example, some layouts from the Nelson Design Group in Jonesboro, Ark., feature master bedroom closets that open directly into the laundry room. Pets are also getting more thought. Design Basics, based in Omaha, Neb., includes “pet centers” in some of its floor plans, which feature dog-washing stations and other storage.

SOURCE: DAILY REAL ESTATE NEWS

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Tuesday, March 6, 2018

Foreign Buyers Coming to U.S. Are Changing

Residents from other countries are increasingly eyeing U.S. real estate as a good investment, and they’re making up a significant portion of buyers in some markets. But who is coming is changing.

Chinese buyers have been the biggest portion, spending the most of any foreign group on U.S. real estate. They spent $31.7 billion on residential real estate in the U.S. between April 2016 and March 2017, according to the National Association of REALTORS®. But mainland China has since tightened restrictions on how much capital residents can spend outside the country. That has caused some markets to see a drastic decrease of Chinese buyers.

“You turn off one faucet, and another one opens,” says Jonathan Genton, the founding partner and CEO of the Genton Property Group.

Buyers from other countries have been coming in to fill the gap. For example, Genton he’s seeing more buyers coming in from Taiwan, Vietnam, and Thailand and more investors from Dubai, Kuwait, Georgia, and Turkey.

“Everyone recognizes the stability and security of the U.S. market more than ever before,” Genton says. He adds that up to 70 percent of a 59-unit Four Seasons Private Residences project in Beverly Hills likely will be foreigners.

Mauricio Umansky, CEO and founder of The Agency, says he’s been seeing more buyers from Great Britain in the luxury L.A. market. Umansky says that foreign buyers purchased about 10 of the 35 homes that The Agency sold in the Southern California market for more than $20 million in 2017.

“At any given point, who the front runners are changes,” says Karmely. For example, in the 1980s, Japanese buyers were accounting for some of the biggest portion of real estate purchases from foreign buyers in the U.S. In 2017, they made up only 2 percent of foreign property purchases.

As the foreign buyer group changes, Karmely says it’s important to note how U.S.-based real estate still continues to expand and accelerate among international buyers. Their searches are broadening too. For example, in Miami, foreign buyers are looking beyond just the beach and downtown locales. “This change has been transformation,” Karmely says.

“Foreign buyers make up a significant presence in the U.S. luxury market that will only increase as generations come here to study and geopolitical and safety factors continue to play a role,” Shahab Karmely, the CEO of KAR Properties, a New York-based development firm, told Mansion Global.