Bay Equity Home Loans Newsletter
Bay Equity Home Loans Newsletter

Get Smart for Real Estate Success

Bay Equity Home Loans Newsletter

Market demographics show Millennials and Baby Boomers firmly in control.

Remote control, that is! The future has arrived, and more tech-savvy homeowners are investing in smart home technology.

So far, it’s mostly the youngest and oldest age brackets dominating purchases of toys and home appliances that can be turned on and off - or adjusted - via smart phone.


There’s no solid evidence these homeowners are suffering from an epidemic of forgetting to turn off the lights or lock the garage, but this new technology is putting those nagging worries in the rear-view mirror.

One in four homeowners (and nearly half of Millennials) already has a smart home app on their phone, and 45 percent of those believe the products save them money and time. Nearly half of remodelers are adding some aspect of smart technology, according to Houzz, the design website.

The term “smart house” actually originated in the 1980s, to refer to a home with single switch capability for lights, telephone, TV, stereo and security. Requiring convoluted re-wiring, they also set the homeowners back thousands of dollars.

Like the central vacuum and the self-cleaning house, these systems never really moved beyond the “novelty” stage.

The concepts of today are similar, but almost no rewiring, and the added ability to “learn” by electronically memorizing your patterns. The prices are better too.

Beyond practicality - many of them are just so cool! One of the latest is a smart refrigerator. Internal cameras check the contents and alert your smartphone when you’re low on milk or other groceries.

Of course you could just get up and look in the fridge, or go to the switch to adjust the lights, but where’s the fun in that?

In a recent National Association of Home Builders survey, more than two-thirds of likely home shoppers said they’d accept lower square footage in exchange for better technology.

Luxury home owners have really upped the ante – 94 percent would sacrifice 1,000 feet of living space for better gadgets, according a recent survey.

Size may no longer be the driving trend in the real estate market, and agents will have to adjust.

At an open house, treat potential buyers to demonstrations of using phones to adjust the lighting, change the channels on the TV and turn on music.

Like the Internet itself, smart-home technology is slowly ingraining itself into our lives, and will soon be ubiquitous. Be prepared.


Bay Equity Home Loans Newsletter

Going up

Bay Equity Home Loans Newsletter

This is the key

Not intended to solicit loans in states I am not licensed in. Equal Housing Lender. This is not a commitment to lend or extend credit. Restrictions may apply. Rates may not be available at time of application. Information and/or data are subject to change without notice. All loans are subject to credit approval. Not all loans or products are available in all states. Bay Equity LLC, 770 Tamalpais Drive Suite 207, Corte Madera, CA 94925; NMLS ID#76988. Arizona Mortgage Banker License #0910340; click here: www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/76988