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How do we choose the places we call “home?” This article from Richard Florida of The Atlantic and CityLab.com delves into the details of a new report from London’s Centre for Cities, that examines what people value most about their neighborhoods.
Choosing a place to live is the single most important decision we make. It has an impact on everything from our career and bank accounts to the people we meet, the relationships we forge, and where we send our kids to school, not to mention our overall happiness and well-being.
A new report from the Centre for Cities – a London-based research and policy institute – takes a detailed look at this question. It uses comprehensive survey data from urban areas across Great Britain to examine what urbanites and suburbanites value the most (and like the least) about the neighborhoods they live in, including key factors like housing costs, proximity to jobs, transit, amenities, open space, and quality of both built and natural environments.
Not surprisingly, the key things that matter to people about the neighborhoods they live in include a mix of housing costs, being close to family, and proximity to where they work. More than a quarter (28%) of respondents cited housing costs and proximity to friends as key factors in the neighborhoods where they live, followed by the size and type of available housing (22%), and proximity to their workplace or their partner’s workplace (21%).
For young people between the ages of 18 and 24, the leading factor (at 28%) is simply that they live in the same neighborhoods where they grew up. This make sense, of course, since many in this age group are still living at home with their parents: 17% said they were studying in the neighborhood. Close behind was proximity to friends and family at 26%, while just 17% said being close to their workplace or their partner’s workplace matters (which makes sense, as fewer in this age group work). But living at home has its drawbacks. This young cohort reported being dissatisfied by a lack of available public transit (19%) and living too far away from restaurants and other leisure facilities (17%). Of course, being close to schools matters little to this age group, and just 7% said they valued being close to green space.
People between 25-34 years of age – the group that is most likely to move to embark on their careers – are more drawn to jobs and amenities than their younger counterparts. Nearly a third of them (31%) valued being close to their workplace or their partner’s workplace. This is about the same as those who said they still lived in the neighborhood where they grew up (32%), and those for whom the cost of housing (30%) was a key factor. A smaller share of this age group (9%) said that being close to restaurants, cultural, and leisure facilities are important attributes of where they choose to live. Eleven percent valued being close to green space and 8% said that the quality of the natural and built environment was a factor. Nine percent said safety and security was a key factor in their choice of neighborhood.
Those in the 35-54 age group – the group most likely to be having families and raising kids – placed a high value on the cost of housing (30%), the size and type of housing (21%), safety and security (17%), and proximity to good schools (13%). With kids in the household, 27% valued being close to family and friends. And after fully entering the working years, a quarter (25%) said that being close to their workplace or their partner’s workplace was important. Twenty percent said that being close to green space was important, and another 11% valued the quality of the natural and built environment. But considerably fewer respondents (just 4%) reported access to restaurants and other cultural amenities as a factor.
People over 55 – retirees and empty-nesters whose kids are out of the household – had different priorities. Topping their list was proximity to the countryside and green spaces (30%), followed by the size and type of housing (29%). Still, nearly a fifth of people in their retirement or close-to-retirement years valued proximity to their workplace or their partner’s workplace. More than a quarter (27%) of people in this age group said being close to family and friends was important. Many older parents, after all, value being close to their adult children. And 17% of older respondents said that the safety and security of the neighborhood was another key factor.
Would you prefer to work in an office, or at home? It seems like these days, more and more companies are considering that choice, as they move away from providing office workplaces and transition to working from more remote locations. Here are some details from Jeanne Sahadi of CNNMoney.com.
Picture this: Working full-time with benefits from your home or local park or favorite mountaintop.
Sounds like nirvana to anyone who slogs through grinding daily commutes, finds getting work done at the office difficult, or just needs more flexibility to take care of family needs.
So-called remote working, however, has become a reality for many people.
While only about 4.5% of full-time workers telecommute every day, a growing number of companies have gone all-in on working remotely, according to Sara Sutton Fell, CEO of FlexJobs.
That is to say, there is no company office or headquarters. Instead, staff members work from … well, any place they like. They may live in the same area or they may live in different time zones.
Even some corporations now have whole departments that work remotely.
Technology, of course, is essential to making it all succeed. But remote jobs aren’t just for tech geeks.
Accountants, lawyers, grassroots groups, travel specialists, educators, marketers, consultants, writers and others are among those who hold full-time, white-collar jobs with benefits at companies that have embraced the perks and perils of remote work.
Those who run remote-work companies say letting everyone work where they want helps them recruit the best talent from anywhere in the country, if not the world.
It can be a cost saver, too, since there’s much less overhead. No headquarters, no rent.
Plus, it can be a lot easier to clearly assess employee performance.
“In an office it’s easy to look busy at a desk and be a nice person. Online, you have to get your work done,” said Aaron Bright, CEO of Hippo Education, which produces educational videos and podcasts for doctors.
But remote working can be a challenge for even the most productive employees if the company isn’t run well. Managers need to support workers by clearly communicating expectations, offering regular feedback and giving clear guidelines about deadlines, said Fell, who also founded remote.co, which advises businesses on remote working.
For employees, the biggest upside is greater flexibility. You may still log long hours but you have more leeway as to when you put them in. Some of Fell’s employees, for instance, might take a few hours off in the middle of the day.
Bright says he doesn’t track his workers’ hours. And he doesn’t care if they prefer to work early in the morning or late at night.
Although home sales activity historically slows down in the northwest U.S. during the winter months, the region’s real estate market is anticipating a season full of activity, according to a new report from the Northwest Multiple Listing Service. This article from Brena Swanson of HousingWire.com highlights some of the factors behind the expected increase in the demand for homes in the region.
In an unusual trend, the Northwest real estate market is heating up heading into the holidays, taking some of the fear away from last month’s threat of a slowdown into the rest of the year, the most recent report from the Northwest Multiple Listing Service said.
The Northwest Multiple Listing Service explained that with holidays approaching, real estate brokers usually expect a slowdown as buyers and sellers shift their attention elsewhere. However, this year is different, say some industry leaders.
“Today we have one of the best markets we’ve ever seen for sellers,” said Ken Anderson, managing broker and owner at Coldwell Banker Evergreen in Olympia. “Buyers are still surging to the market and inventory is low. It’s a very good time to sell. Owners who are eager to make the next move don’t have to wait six months or until spring to act,” added Anderson, a former board member at Northwest Multiple Listing Service.
Pending sales jumped 7.8% from a year ago in October, rising from 8,643 transactions to 9,317.
For 19 of the 23 counties in the latest MLS report, the number of pending sales surpassed the number of new listings added to inventory.
If your holiday shopping tradition is to walk the entire mall and just buy all the gifts you think all your family members and friends will like, you’re not alone – and you’re probably spending much more money than you really need to. In this article from U.S. News, Karen Cordaway shares some terrific tips for planning and spending wisely for this season’s holiday shopping.
The holidays are right around the corner. Planning who to shop for and what to get now can work to your wallet’s advantage and reduce the stress of frantically running around later to get the perfect gift. Shoppers can stay within their budgets and pick out something for everyone on their list using the tips below.
Make it a habit to shop at the bulk store. Take the stress out of finding the perfect gift by going with a theme. Maybe this is the year that many of the recipients on your list receive a bottle of wine, a bag of their favorite gourmet coffee beans or a batch of biscotti. You can cross a bunch of people off of your list in one fell swoop by batch purchasing. This approach can potentially save you time and money while getting your shopping done. Compare prices to get the best deals. You can always personalize a gift by adding some sort of gift topper to whatever you end up buying to make it more personal.
Buy in bulk at any store. Buying multiples doesn’t only have to happen at a bulk warehouse store. I have found some useful generic gifts at craft stores. Stationery, fancy pens, festive-scented soaps, ornaments and more can serve as wonderful, economical gifts. Search around for other stores where you can buy multiple items for less.
Light up your purchases. Candles are another useful item to stock up on. They are practical and festive. Try to find out the favorite candle scent of the people on your list. This way you can hit a sale and get a bunch of shopping done at once while spending less. You might even be able to support a local school that often has candle fundraisers. You won’t even necessarily need to leave your home to order or receive your purchases. Get your shopping done while boosting the school’s budget for much needed supplies, school field trips or playground-improvement plan.
Set spending limits. There’s nothing worse than exchanging gifts when you have drastically different ideas about spending limits. It can be embarrassing on both ends. Consider making a rule when exchanging gifts year after year. Have everyone agree to a certain amount to prevent future gift giving awkwardness.
Pull names out of a hat. If you have a big family, give gifts at work or run with the same circle of friends, buying for everyone can get costly. Don’t drain your bank account or wrack your brain to come up with answers. Pull names out of a hat every year so everyone buys for one person. Set a limit for how much to spend. This way you can focus your attention on fewer people and take the time to get them something they’ll really like. It takes the stress out of buying for so many people. If it’s still too costly to give gifts outside of immediate family, decide to set a rule to exchange gifts on birthdays or another time of year. You could even have a potluck holiday party just to see each other. That can trim costs and allow you to still see people you care about outside of family.
We don’t really need to give you any more reasons to love your pet even more than you already do, but this article from Mother Nature Network backs up all that love with hard, factual scientific PROOF of just how good pets really are for the humans they share a home with.
If you have pets you already know the joy and love they bring to your life. Now science is confirming just how good they really are for you – both mentally and physically.
How do they help? One theory is that pets boost our oxytocin levels. Also known as the “bonding hormone” or “cuddle chemical,” oxytocin enhances social skills, decreases blood pressure and heart rate, boosts immune function and raises tolerance for pain. It also lowers stress, anger and depression.
No surprise then that keeping regular company with a dog or cat (or another beloved beast) appears to offer all these same benefits and more. Read on to discover the many impressive ways a pet can make you healthier, happier and more resilient.
Pets alleviate allergies and boost immune function. One of your immune system’s jobs is to identify potentially harmful substances and unleash antibodies to ward off the threat. But sometimes it overreacts and misidentifies harmless stuff as dangerous, causing an allergic reaction. Think red eyes, itchy skin, runny nose and wheezing. You’d think that having pets might trigger allergies by kicking up sneeze-and-wheeze-inducing dander and fur. But it turns out that living with a dog or cat during the first year of life not only cuts your chances of having pet allergies in childhood and later on but also revs up your immune system and lowers your risk of eczema and asthma. In fact, just a brief pet encounter can invigorate your disease-defense system. In one study, petting a dog for only 18 minutes raised immunoglobulin A (IgA) levels in college students’ saliva, a sign of robust immune function.
Pets up your fitness quotient. This one applies more to dog owners. If you like walking with your favorite canine, chances are you’re fitter and trimmer than your non-dog-walking counterparts and come closer to meeting recommended physical activity levels. One study of more than 2,000 adults found that regular dog walkers got more exercise and were less likely to be obese than those who didn’t walk a dog. In another study, older dog walkers (ages 71-82) walked faster and longer than non-pooch-walkers, plus they were more mobile at home.
Pets dial down stress. When stress comes your way, your body goes into fight-or-flight mode, releasing hormones like cortisol to crank out more energy-boosting blood sugar and epinephrine to get your heart and blood pumping. All well and good for our ancestors who needed quick bursts of speed to dodge predatory saber-toothed tigers and stampeding mastodons. But when we live in a constant state of fight-or-flight from ongoing stress at work and the frenetic pace of modern life, these physical changes take their toll on our bodies, including raising our risk of heart disease and other dangerous conditions. Contact with pets seem to counteract this stress response by lowering stress hormones and heart rate. They also lower anxiety and fear levels (psychological responses to stress) and elevate feelings of calmness.
Pets boost heart health. Pets shower us with love so it’s not surprising they have a big impact on our love organ: the heart. Turns out time spent with a cherished critter is linked to better cardiovascular health, possibly due to the stress-busting effect mentioned above. Studies show that dog owners have a lower risk of heart disease, including lower blood pressure and cholesterol. Dogs also benefit patients who already have cardiovascular disease. They’re not only four time more likely to be alive after a year if they own a dog, but they’re also more likely to survive a heart attack. And don’t worry, cat owners – feline affection confers a similar effect. One 10-year study found that current and former cat owners were 40 percent less likely to suffer a heart attack and 30 percent less likely to die of other cardiovascular diseases.
Pets dampen depression and boost mood. Pets keep loneliness and isolation at bay and make us smile. In other words, their creature camaraderie and ability to keep us engaged in daily life (via endearing demands for food, attention and walks) are good recipes for warding off the blues. Research is ongoing, but animal-assisted therapy is proving particularly potent in deterring depression and other mood disorders. Studies show that everyone from older men in a veterans hospital who were exposed to an aviary filled with songbirds to depressed college students who spent time with dogs reported feeling more positive.
RealtyTrac recently released its September and Q3 2015 U.S. Home Sales Report, highlighting some excellent results for home sellers across the nation.
Homeowners who sold during the third quarter realized an average price gain of $40,658 (17 percent) from the purchase price of their property, the highest average price gain for home sellers since the third quarter of 2007. The report also shows home sellers in the third quarter on average had owned their home for 6.72 years when they sold.
The eight-year high in average price gains for home sellers in the third quarter came despite slowing home price appreciation. The average sale price of single family homes and condos nationwide during the quarter was $263,976, up 0.2 percent from the previous quarter and up 2.4 percent from the third quarter of 2014 – the slowest year-over-year price appreciation in any quarter since home prices bottomed out in the first quarter of 2012.
The report also shows 2,487,664 existing single family and condo sales through the first three quarters of 2015, the highest level for the first nine months of a year since 2006 – a nine-year high.
“An increasing number of homeowners in 2015 have been cashing out the home equity they’ve gained during the housing recovery of the past three years,” said Daren Blomquist, vice president at RealtyTrac. “That may be a good decision because the data points to a plateauing market going forward. Home price appreciation is slowing, a trend that will continue if interest rates rise in the coming months as expected. Meanwhile the threat of rising interest rates combined with lowered premiums for buyers using FHA loans is spurring more demand.”
Buyers using Federal Housing Administration (FHA) loans – typically low down payment loans utilized by first time homebuyers and other buyers without equity to bring to the closing table – accounted for 23.4 percent of all single family home and condo sales with financing – excluding all-cash sales – in the third quarter of 2015, up from 23.2 percent in the second quarter and up from 17.9 percent in the third quarter of 2014 to the highest share since the second quarter of 2012.
“Home sales in the third quarter saw an increase in first-time home buyers in the area. With FHA loans accounting for nearly a third of the overall purchase transactions across the state, low interest rates, and the tax benefits of homeownership continue to be driving factors for home buyers to elect to purchase, versus renting,” said Michael Mahon, president at HER Realtors in Ohio. “Seeing greater homeownership in communities, as compared to vacancies a few years ago, is providing notable increases in equity for all homeowners to enjoy.”
“The millennials and first-time homebuyers are kicking in and taking advantage of low interest rates and loosening financing options,” said Mike Pappas, CEO and president of the Keyes Company, covering the South Florida market where average home seller price gains in the third quarter ranged from 11.7 percent in Palm Beach County to 14.9 percent in Miami-Dade County. “Our market has returned to a balanced normal market with real sellers and real buyers.”
According to a study from Redfin, homes listed for sale during winter are more likely to sell within six months than homes whose owners held off until spring. This article from Daniel Bortz of TIME offers helpful suggestions on how to sell your home faster this winter.
Spring may still be peak home-shopping season, since most families want to move when the kids are out of school. Yet it actually pays to list in the winter, when buyers tend to have more urgency: A study by online brokerage Redfin found that average sellers net more above asking price during the months of December, January, February, and March than they do from June through November, even in cold-weather cities like Boston and Chicago. And homes listed in winter sold faster than those posted in spring.
Should you put your home on the market now? Unless you need to sell (say, you’ve purchased your next home or are relocating for a job), “timing always depends on supply and demand,” says Indianapolis real estate agent Christine Dossman.
To understand your local climate, check the number of days on the market for current and recently sold listings. If most are sitting for more than 60 days, it’s safer to wait until spring, when more buyers will emerge. Yet “if properties are selling quickly, take that as a green light to list,” says real estate broker Peggy Yee of Vienna, Va.
If you do move forward, these strategies will help make your home a hot seller this winter.
Price it right. The quieter winter market brings special pricing considerations. Unlike in spring, when there are more shoppers – and it may make sense to price low to try to generate a bidding war – you’re less likely to receive multiple offers. Winter is also a bad time to test the market and list high. If the house doesn’t sell, you may need to drop below market value to nab a buyer before new properties appear in spring and make yours look stale by comparison.
Schedule a tune-up. Winter buyers are particularly attuned to issues related to heating and maintenance. Get your furnace, HVAC, and roof inspected, and make any necessary repairs. Also on your to-do list: Clean the gutters, change air filters, and weather-strip the windows.
Brighten your home. Snow and gray skies make for a gloomy first impression. Warm up curb appeal with basic landscaping, and add inexpensive cool-weather plants like holly to invigorate outdoor space. Fix chipped paint, caulk windows, and repair cracked window seals, which can cause condensation that freezes over and creates an eyesore.
When purchasing a new home, most homebuyers take on the debt of a mortgage. Some new homeowners compound that debt even further by purchasing new furnishings before moving in. All those little purchases can add up fast – and then homeowners can realize they’re way over budget. This article from Maryalene LaPonsie, published by U.S. News, offers a solution for new homebuyers, and outlines other scenarios and solutions for avoiding taking on extra debt.
Unemployment, medical bills, a shopping addiction – these may all be obvious causes of debt, but they certainly aren’t the only ways people end up in the red.
Other forms of debt are more insidious. They arrive looking like a big break or a money-saving option. But instead of getting you out of your financial hole, they actually dig you in deeper.
Buying a Home
Buying or building a home can feel like permission to replace appliances, furniture and electronics.
“What’s a couple hundred here? What’s $500 there?” says Joe Heider, founder of Cirrus Wealth Management in Cleveland, of many people’s mindset when constructing a new home. “Then they realize they’re $20,000 to $30,000 over budget.”
The solution: Having a written budget for building or renovating a home is the first step to avoiding this debt trap. The second step is to stick to the budget. Also, consider whether an existing home will have expensive maintenance issues in the near future and look for a house that is move-in ready. If you don’t start a renovation project, you can’t overspend on it.
Your New Job
Your new job is supposed to be your ticket out of paycheck-to-paycheck living, but a big boost in income is often accompanied by a big boost in spending.
“When people get a new job, it looks like a limitless amount of money so they splurge on a new car or a buy a lot of clothes,” says Heider.
Cecilia Beach Brown, a certified financial planner at Lincoln Financial Securities in Annapolis, Maryland, says it’s a common trap. “When the money’s there, it’s hard to say ‘no.'” Then people lose their job or are otherwise unable to maintain their new lifestyle.
The solution: Rather than increase your spending, continue to budget based on the amount you previously earned. Then, bank the extra for retirement, travel or a big spending goal, whether that be paying cash for a car or a 20 percent down payment on a house.
A New Cellphone
You want that shiny new smartphone, and the cellphone company is happy to give it to you – provided you sign up for a two-year contract. The phone seems like a freebie, but you have, in fact, just signed up for more debt.
“Really what you’re doing is taking a loan out to pay for the phone,” says Phil Jacobson, managing director at United Capital in Rockford, Illinois. You’re not getting the phone for free; you’re financing it with your cellphone contract.
Your new phone could also cause further problems if you have an expensive data plan you can’t afford. There’s no way to cancel most cellphone contracts without paying a sizable fee.
The solution: Reconsider contracts. Many wireless providers now offer non-contract service options, and those may be a better choice. While it costs more to buy a new phone out of pocket, you might save money on a monthly plan. If you still want a new phone, look for a cheaper, refurbished one or get a used one from a trusted source.
January is typically one of the greatest months. It’s the start of a new year, we feel refreshed from the holiday season as we take on new resolutions, and football season gets more exciting with bowl games and championship games. But for some, January is also a time of despair, when their holiday credit card bills arrive in the mail. This article from U.S. News, written by Deacon Hayes, a financial expert and founder of financial education company Well Kept Wallet, offers tips to help you plan for expenditures and avoid racking up holiday credit card debt.
Set a holiday budget. It’s easy to get into the habit of spending mindlessly during the bustling holiday season, but your wallet will thank you if you make a detailed list of your gift-giving and holiday obligations, and set a budget for each expenditure. You can start by making a list of each gift recipient and setting a monetary limit on how much you can comfortably spend (in cash) on each person. From there, make a list of other holiday obligations that may cost you money such as social gatherings, family events, work parties and charitable donations. After you list your obligations, set a dollar limit for each one. By knowing exactly what expenditures are coming your way during the holiday season, and what each of those expenditures roughly cost, you can better prepare to have cash on hand to pay for those purchases.
Give gifts that don’t cost money. If your holiday budget is tight, consider giving gifts of time or service, both for your holiday gift recipients list and your charitable obligations list. For instance, gifts of time or service to family members or friends could consist of babysitting time for a sibling’s children, an offer to do the painting or landscaping for a housing project, or free skilled services you can offer such as cutting hair or organizing a room or closet. Gifts of valued time or service are a terrific way to bring a loved one joy during the gift-giving season and save your pocketbook some strain.
