Trends That May Impact the 2011 Housing Market

Hanley-Woods ProSalesOnline.com has identifed seven trends that the magazine’s editors believe will have the biggest impact on housing in 2011 inHoboken and around the country.

Large builders are streamlining costs of construction by eliminating extras todrop the costs by a whopping 36%to $52 per square foot.

Beginning in 2011, Energy Star will roll out a more efficient design and quality installation standards. For a building to earn Energy Star certification, a builder will have to install correct insulation, HVAC systems, and other features related to energy efficiency in each building.

As Hoboken homes get smaller, sheds will become more popular and versatile for storage.

The generation of the 81 million Echo Boomers who were born from 1981 to 1999, who are the children and grandchildren of the 78 million Baby Boomers born from 1946 to 1964, will be the driving force behind home-building for years. According to demographers, it is estimated that by 2015 two out of every five households occupied by Generation Y people born between 1981 and 1999 will be defined as WINKs (women with incomes and no kids).

The Sandwich Generation is identified as Baby Boomers living with both their kids and their parents. These families like having two master suites, a second cooking area, and lots of storage.

Baby Boomers, who will be the most conservative of all, will want to continue to live and work in the same community they have settled in. They want a first-floor master bedroom near the washer and dryer and lots of convenient storage.

No matter what generation you belong to, for help in finding and closing on your perfect Hoboken home, contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, a progressive city  where they’re always coming up with new ways of making it a better place to live, Jersey City, Weehawken and Union City. Eddie can also be reached by phone at 201-344-2886.