Delaware Statutory Trusts (DST) and Alternative Investment News
Only 1 in 7 Home Ads Mention a Dining Area. Here's Why That Could Be a Big Mistake
December 4, 2019 – Money
Some home sellers may be leaving money on the table — the dining room table.
Listings that tout their dining areas are priced significantly higher than the median home, according to a new analysis from real estate web site Zillow.
What may be surprising to some home sellers and realtors: Emphasizing some kind of dining area made a much bigger difference than what kind of dining area it was, either a formal dining room or merely a seating area in an open-plan home.
Across the country’s 35 largest metro areas, homes that boast of a formal dining room ask a median of $325,500, 23% more than the national median home price, according to Zillow. Homes that advertise an open-concept dining area layout ask $309,900, 17% more than the data set’s median home.
Of course, homeowners that brag about their dining areas tend to do so because those spaces are nice to begin with. And that luxury often extends to the rest of the house, no doubt accounting for a significant portion of the difference.
But data also suggest that at least some homeowners may be overlooking a valuable asset. Only about 14% for-sale ads — or less one in seven — mention any kind of dining space at all, according to Zillow. “They’re not mentioned as much as I thought they would be,” says Cheryl Young, the senior Zillow economist who authored the study.
Of course, like all trends, the correlation between above-average home prices and dining rooms varies from region to region. In Cleveland, Ohio, it pays to mention your dining area in your listing, no matter what type of dining room you have. Cleveland homes with formal dining rooms are listed for $244,900 — nearly 45% more than the median $169,000 — while those with an open floor plan ask $237,000, or 40% more than the median.
In other places, like Seattle, Portland, Ore., and San Jose, homes that mention an open floor plan in their listing are actually listed for slightly less than the median price — possibly because of the area’s preference for craftsman-style houses, which generally do not have an open concept plan.
Formal dining rooms, meanwhile, have the most impact in St. Louis and Detroit, where they boost a home’s price by 46% and 58%, respectively. While no place is hurt by the presence of a formal dining room, they have the lowest impact in Atlanta and Dallas-Fort Worth, where homes are priced a mere 5.6% and 11.7% more respectively.
Receive Your Stock
Market Updates Weekly
Enter your email address to receive information on the stock market and updates at the beginning of each week.
Material is for informational purposes only and does not constitute an offer to buy or sell any product. Past performance and any forecasts are not indicative of future results. This material was prepared and views are those solely of the author and does not necessarily represent the views of the presenting party, nor their affiliates. Because investors situations and objectives vary this information is not intended to indicate suitability for any particular investor. Direct investment in an index is not possible. Asset Strategy is unaffiliated with third-party sites, cannot verify the accuracy of, nor assume responsibility for any content of linked third-party sites. The information available on third-party sites is for informational purposes only. All information provided is for educational purposes only. The material herein does not constitute an offer to sell nor is it a solicitation of an offer to purchase any security. Offers will only be made through a private placement memorandum to accredited investors (typically have a $1 million net worth excluding primary residence or $200,000 income individually/$300,000 jointly of the last three years), or through an offering circular to qualified investors, and where permitted by law. Investments in any security are not suitable for all investors. Investments in securities involve a high degree of risk and should only be considered by investors who can withstand the loss of their investment. Prospective investors should carefully review the “Risk Factors” section of any private placement memorandum or offering circular. Investors should perform their own investigations before considering any investment and consult with their own legal and tax advisors. Past pricing structures may not be indicative of future pricing and may not result in positive returns. Securities offered through Concorde Investment Services, LLC (CIS), member FINRA/SIPC. Advisory services offered through Asset Strategy Advisors, LLC (ASA), an SEC-registered investment adviser. Insurance services offered through Charles River Financial Insurance Agency, Inc. (CRFG). CIS, ASA, and CRFG are separate companies, all of whom are independent of Money.
The information in this communication or any information within the Asset Strategy Advisors, LLC domain, and or any attachments to any AdvisorStream communication is strictly confidential and intended solely for the attention and use of the named recipient(s). If you are not the intended recipient, or person responsible for delivering this e-mail to the intended recipient, please immediately notify AdvisorStream at email@example.com and destroy all copies of this e-mail. Any distribution, use or copying of this e-mail or the information it contains by other than an intended recipient is unauthorized. This information must not be disclosed to any person without the permission of AdvisorStream LTD. Please be aware that internet communications are subject to the risk of data corruption and other transmission errors. For information of extraordinary sensitivity, we recommend that our clients use an encrypted method when they communicate with us.