What is Most Important to Homebuyers?

IMN-homebuyers

If you’re looking to put your home up for sale, there are an array of things to do that can entice a potential buyer. For starters, you can clear the clutter, clean the carpets and try to paint over your kid’s fingerprints on the walls.

But besides making your home as picturesque as it can be, it’s important to understand what real estate buyers are really looking for in the current day and age. Like homes change, so do homebuyers, and now those of the Gen X and Gen Y population are taking the home-buying floor. It turns out they have some pretty high standards, which differ greatly from what previous generations sought in a home.

“It’s critical that real estate professionals understand what embodies a quintessential home for the Millennial generation, which vastly differs from the traditional norms of generations before them,” says Sherry Chris, president and CEO of Better Homes and Gardens Real Estate LLC, which conducted a survey on the essentials of what current homebuyers are seeking. According to the results, a whopping 77 percent of next-generation homeowners would prefer a home that encompasses the technological capabilities they grew up with and have become accustomed to (smart phones, apps, etc.).

“These survey findings allow our brand to continue to best serve the next generation of homebuyers and find homes that can or do appeal to their lifestyles and unique spirit,” says Chris. “Understanding technologies to communicate with this generation is now only one piece of the puzzle for agents; ‘smart’ technological capabilities must now be ingrained into the home itself.”

The survey results proved that technology was a huge part of what next-generation homebuyers crave in their home. In fact, 56 percent said home technology capabilities topped “curb appeal” in terms of importance in a home. What’s more, if a home didn’t live up to their advanced technology standards, 64 percent said they’d rather not live there. One of the most important technology components that participants wanted was an energy-efficient washer and dryer (which 57 percent said they’d like this commodity in a home), followed by a security system (46 percent) and a smart thermostat (44 percent).

Additionally, 77 percent of those surveyed said they’d rather purchase an “essential” home instead of a large, luxurious abode. Forty-three percent even went so far as to say they’d rather the home be less “cookie cutter” style and more customized to their level of practicality. For example, 1 in 5 Millennials surveyed stated they would more appropriately name their dining room a home office, which is what they’d more commonly use the space for. Also, 43 percent would prefer to use their living room as a home theater.

Technology in the home doesn’t end there for this present home-buying crowd. Fifty-nine percent surveyed said they’d prefer more space in the kitchen for a TV (over a second stove), and if possible, they’d like to have a form of entertainment in each room in the house. While kitchen renovations are and have always been a main precedence , now Millennials say the most desirable part of the room are tech updates. And, 41 percent of participants said they’d likely brag to a friend about a home automation system over a newly redone kitchen.

The desire for a technologically-equipped home is not a shock among Millennials, but results that didn’t include anything about technology included that 82 percent of participants said they’d rather invest in a home that needed renovations if given the choice between that and relying on their parents’ money.

In addition, other commodities homebuyers wish for in their home include walk-in closets, home offices and hardwood flooring. With that said, if your current home does come equipped with one or all of these things on current buyers’ wish lists, it may be a good idea to emphasize them in your listing. Also, given how important technology is to current homebuyers, before you list your new home, you may benefit from transforming your home into a “smart home.”

Not sure where to start? Your financial institution is the best place to help with all your real estate needs.

Loans are subject to credit approval. Merchants Bank is an equal housing lender. Includes copyrighted material of IMakeNews, Inc. and its suppliers.

Ann Vanderloo Named a 2014 Super Mortgage Professional by Mpls.St.Paul Magazine and Twin Cities Business

Ann Vanderloo, Mortgage Loan Officer in Lakeville

Ann Vanderloo, Mortgage Loan Officer in Lakeville

Merchants Bank Mortgage Lender Ann Vanderloo has been named a 2014 Super Mortgage Professional by Mpls.St.Paul Magazine and Twin Cities Business.

Vanderloo received the honor after being nominated by a customer or client. More than 20,000 recent home buyers and all Mpls.St.Paul Magazine and Twin Cities Business subscribers were asked to cast a ballot to identify Twin Cities’ super mortgage professionals. After the nomination, an independent research company, Crescendo Business Services, conducted the evaluation process.

Vanderloo joined Merchants Bank in Lakeville in 2009 and has more than 25 years in community banking as a mortgage professional. She is an expert in residential construction lending.

“I’m grateful for the honor and the ability and resources that Merchants Bank provides to help my customers to find the right solution for their particular needs,” Vanderloo said.

If you’d like to learn more about how Vanderloo can help you, you can contact her by phone at 952-841-4268, by cell at 612-889-4667, by email at amvanderloo@merchantsbank.com, or you can connect with her through the Merchants Bank website.

Rick Roesch Joins Merchants Bank as a Mortgage Lender

Veteran Mortgage Lender Rick Roesch has joined Merchants Bank, according to Merchants Bank’s Eau Claire Market President Mark Willer.

Rick Roesch

Rick Roesch

Roesch had most recently been a mortgage lender at Alliance Bank, which was acquired by Merchants Bank February 14.

“We are extremely pleased that Rick will continue providing home loan solutions to Chippewa Valley mortgage customers. We know that he brings a thorough understanding of the mortgage industry to Merchants,” Willer said.

In addition to his seven years as a mortgage lender at Alliance, Roesch has been active in the Chippewa Valley real estate industry since 1978. He has worked as a real estate agent, assessor and appraiser, in addition to his work as a mortgage lender.

“Merchants is appealing to me and should be appealing to customers because it offers a full range of mortgage options. That means that customers can be fitted to the type of loan that is best for them,” Roesch said. “Perhaps most appealing, given my experience in the industry, is the fact that Merchants Bank services its own loans. That makes all the difference in the world when you need someone to talk to.”

Roesch has remained active in the community. He currently serves as an Elder in his church. Most recently he served on the Board of Directors for the Foundation Board of the Realtor Association of Northwest Wisconsin.

Lance Rud Joins Merchants Bank as a Mortgage Lender in Cottage Grove

Lance Rud

Lance Rud

Lance Rud has joined Merchants Bank in Cottage Grove as a mortgage lender, according to Jeff Carter, Vice President at Merchants Bank in Cottage Grove.

“We’re excited to have Lance join our team in Cottage Grove,” Carter said. “His combination of energy and knowledge will benefit customers looking to buy, build or refinance a home.”

Rud has worked with ING, TCF and most recently MidCountry Bank as a business lender and a mortgage lender.

“Merchants Bank is the perfect place to put my experience to work in helping people realize their housing dreams,” Rud said. “I look forward to working in Cottage Grove.

Help us welcome the new faces at Merchants Bank

New to MerchantsAt Merchants Bank, we are committed to providing you with the best customer service as possible. We want you to be satisfied with all of your banking needs. To ensure that all of your needs are met, we hired qualified employees to help make the most of your banking experience. Please join us in welcoming the new front-line members of the Merchants Bank team.
Tamara Baker joined the staff at Merchants Bank in Cottage Grove as a Lead Teller. Tamara previously worked at US Bank as a Teller/Banker and at Graphic Design Inc., as a Customer Service/Accounts Payable-Receivable Clerk. Tamara and her fiance reside in Farmington with their 6 children and their St. Bernard, Matileta.
Dawn Garms joined the team at Merchants Bank in Onalaska as a Mortgage Loan Officer. Dawn previously worked at Altra Federal Credit Union as a Mortgage Loan Officer. Dawn grew up in Cedar Falls, IA and attended the University of Northern Iowa where she received her Finance/Real Estate degree. She enjoys hiking the bluffs, kayaking through rivers and all of the great things that the La Crosse area has to offer. She also loves to travel and cook. Loans are subject to credit approval.
Libbie Longfield is a full-time Teller in the Winona Lakeside facility. Libbie graduated from WSU with a major in Marketing and minors in Business Administration and Communication Studies. Libbie previously worked at Menards as an Assistant Cabinets and Appliance Manager. Libbie and her husband have a three-month-old daughter.
Cindy Luedke joined Merchants Bank, Apple Valley team as a Mortgage Lender. Cindy previously worked at 1st Trust Mortgage as a Mortgage Sales Professional. Cindy has been in the mortgage industry for 28 years. Cindy and her husband have been married for 28 years and enjoy fishing and spending time on Big Sandy Lake in McGregor, MN. Loans are subject to credit approval.
Shelly Reining joined the staff at Merchants Bank in Onalaska as a Mortgage Loan Coordinator. Shelly previously worked at Home Federal in Rochester as a Mortgage Loan Officer. Shelly and her husband have been married for eight years and have three children. They enjoy anything outside, watching and playing baseball and football, camping and fishing. In her spare time she loves to read and go for walks. Loans are subject to credit approval.
Tara Selig joined the Merchants Bank team and will work in Rosemount as a part-time Teller. Tara will be a senior at Rosemount High School and previously worked at The Commons on Marice as a Waitress. Tara enjoys hanging out with family and friends, and traveling.
Chris Thrune is a part-time Teller in the Winona Drive-up facility. Chris is a sophomore at WSU with a major in Accounting. He previously worked at Fastenal and Dick’s Marine.
Michael (Mick) Wald joined the Merchants Bank team in Winona as a part-time Teller. Mick recently graduated from Winona State University with his Bachelor of Science in Sociology with specialization in Criminal Justice (Corrections). He previously worked at Fastenal and currently volunteers with the Big Brothers & Big Sisters of Minnesota. Mick is an avid hunter and fisher. He enjoys being outside and loves hanging out with his close group of friends.
Visit our website at www.merchantsbank.com for a complete list of locations and hours.