We’re well into year four of a classic supply vs demand cycle. Longtime homeowners either don’t want to move or can’t afford to, so there is a decreasing number of homes for sale (lack of supply) that is being pursued by an increasing number of buyers (higher demand): the result is rising prices.
With the prices of real estate continuing to increase, how can the buyers afford to pay those prices?
Who are those buyers? The Millennials! And guess what? They don’t care how much the house costs-it’s just a number, as long as they can get the loan. They have good income, usually dual incomes. But there is all that student debt. And they have life-style expenses that eat away at available cash. No way to save for the required down payment.
Ever creative and innovative, the Millennials are turning to Crowd-funding. When a Millennials marries, they don’t want china and crystal, they want cash towards a down payment. Onlines registries like HoneyFund include the option of gifting a down payment contribution. No marriage in sight? Register with companies like HomeFundMe or Feather-the-Nest. It’s easy: sign up and then share a link with family and friends. Each platform has different guidelines, but all with the same end game – a way to get a down payment so that the buyer can get on the home ownership band wagon.
Crowdfunding has become the latest source of funding a down payment for many Millennials. And why not? People turn to sites like GoFundMe and Fundly to raise money for things as frivolous as an XBox, so why not look to family and friends (and possibly strangers) to help with a down payment on your first home?
Nancy has been licensed to sell real estate since 1991. This includes sales experience in residential, land and investment properties. Due to her vast experience and expertise in the handling of complicated real estate transaction, she as the chosen as the Official Real Estate Sponsor of the Pasadena Bar Association for 5 years.
Nancy approaches each home sale as a new work that will be given a glorious Premiere! The staging, set design, and presentation all result in her listings being the “buzz” all over town. Nancy harnesses the power of the Internet to give her listings a competitive edge. She sees the Web as the most valuable way to respond to the constantly changing real estate climate. Nancy has the experience, knowledge and flexibility to harness the power of the Web in real estate transactions to get her sellers’ properties the best exposure, worldwide.
Like most people in this field, Nancy had another career before entering real estate. After graduating from Northwestern University School of Music, she attended the Juilliard School. Nancy went to Europe for the summer to continue her vocal training and stayed for 12 years! She sang professionally as a lyric soprano soloist in Austria, Switzerland, and Germany. Nancy is fluent in German and has a very good ear for languages! Her years of living abroad have given her a deep understanding of Buyers and Sellers from varying cultures and traditions. This experience is a valuable tool in understanding client needs and translates into a superb skill in negotiating on behalf of her clients. The experience of living in Europe as well as recent trips to visit family in Asia, she has a deep understanding of varying architectural and decorating styles.