Right now, we’re going to discuss trends in spatial use during COVID.
Bob Nelson, Eugene real estate investment broker
Marcia Edwards, Eugene residential real estate broker
Marcia Edwards: I’ve been looking at the trends nationally in regards to affluent buyers in our market, that would be buyers purchasing over $600,000 purchase of single-family residential. And what are they buying and what are they looking for? And it’s been a huge swing just in 12 months time what they’re looking for.
Bob Nelson: Well, I would guess that in part, they would have been impacted by how our life has been adjusted by the China virus and the need to evidently isolate ourselves from everybody else with an effort to prevent it spread.
Marcia Edwards: Yes, our safe place has become more minute, the area that we can call safe because socializing is not safe anymore.
Bob Nelson: The bathroom is small.
Marcia Edwards: It’s going to get smaller. Pretty soon, you’re going to have a bedroom. No, it’s a space that’s your private space that you can control the environment as much as anywhere, and that’s your home.
If you’re going to control your environment, you’re going to need to exercise there. You’re going to need it right for your pets, for your children, You’re going to need to have food, and you’re going to have to have supplies and storage. So it’s become very significant that area.
Bob Nelson: And I would sense that safer or the more secure you can make that particular safe space in your home, the less likely you would be to contact the virus and put yourself at extreme risk.
Marcia Edwards: That’s right. So what you’re looking at is less socializing spaces, a few more walls possibly in the house, which is ironic. There’s a lot of Brittain Brother homes up in the Southeast and Southwest Hills that have four bedrooms, two and a half baths and a separate living room with a family room.
That floor plan’s starting to pick up again because people need home offices. People need to separate from the kids occasionally during the day. I don’t know who, because we all love our kids that much, but separate spaces is a little bit more of a necessity and backyards are important. That’s to more use than backyards for extended living. If the weather gets nice, you want to change your setting a little bit, even if it’s for moving inside the house to outside.
Bob Nelson: Well, it’s an interesting process. Now, has this been unique enough to alter value patterns?
Marcia Edwards: Not yet, we haven’t seen it reflect in value patterns except new construction. New construction, the volume of the homes are going back up. So more houses being built, where we’re seeing trends of it significantly cutting down in square footage previously.
Bob Nelson: Well, that’s a interesting process because that’s a reversal from what we’ve seen for the last, what two decades.
Marcia Edwards: A quick swing that way, yes.
Join Eugene, Oregon, real estate experts: Bob Nelson, Real Estate Investment Broker with Pacwest Real Estate Investments, and Marcia Edwards, Residential Real Estate Broker with Windermere Real Estate, daily at 5:30pm on KPNW for the “Real Estate Today” radio show.