A Smokin’ Hot Summer Playlist From DJ Smokey Smoke
A Smokin’ Hot Summer Playlist From DJ Smokey Smoke
Hero Images/Getty Images; Greg Chow
It’s officially summer now, and the hottest one for real estate in a decade. As your music-loving housing economist (just call me DJ Smokey Smoke), I’m celebrating that fact by putting together a collection of hot new tracks that should be burning up streams and radio this summer. These songs are also the perfect soundtrack for this summer’s home buyers. Read on. And dancing is allowed! ,
‘The Right Song,’ by Tiësto, featuring Oliver Heldens & Natalie La Rose
I know there are two things you need: a home that meets your needs, and the right song to speed you on your house-hunting journey. Now, as we say here at realtor.com®, “Dream Home, Find Home, Own Home.”
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‘Missing You,’ by All Time Low
This band’s name is perfect for this summer, because mortgage rates are very close to their all-time low. Yes, it’s hard work to qualify for a mortgage these days, but it takes only a little push to get through (assuming you have decent credit and can afford at least a 3% down payment). This is likely our last summer with such low rates—at least for a while—so if you don’t lock them in, you’ll be missing them later.
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‘Brand New,’ by Ben Rector
We don’t have enough homes for sale to satisfy everyone looking to buy this summer, so one option to avoid cutthroat bidding wars is to sign a contract with a builder for a brand-new home. After all, a new home is way better than the new sunglasses or a new pair of jeans that Ben Rector sings about. You get to customize it, you typically end up with much better energy performance, and, um, you can live there. For years to come.
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‘Bring Back the Summer,’ by Rain Man, featuring Oly
The past three summers saw mortgage rates rise above 4%, but this year is looking good for rates remaining low. That, combined with pent-up buyer demand, is giving us the hottest summer for real estate in a decade: 3 million homes will be bought this summer. Forget the election, take a chance, and touch the stars.
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‘Hey Now,’ by Matt and Kim
Matt and Kim are a couple from Brooklyn, NY, who formed a cool indie group, with catchy songs like this one. They are a perfect representation of 25- to 34-year-olds who dominate the housing market as they form households and plan their future together. They clearly love each other. Is a new home in their summer plans? Let’s hope so.
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‘Figure Me Out,’ by the Summer Set
Isn’t it a rule that every new summer playlist has to have a track by the Summer Set? This seems like a millennial anthem to me. Maybe the rest of us should stop trying to figure these kids out and just give them the info and support they need to find their own road. Some will want to be car-free in the city. Some will want the suburbs and a single-family home with a yard. Others may want a tiny house out in a pasture. Young people consider owning a home to be a key part of their future plans. They have the dream figured out. It’s the getting there that might need a bit more work.
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‘I Wanna Know,’ by Alesso, featuring Nico & Vinz
Everybody wants to know where mortgage rates and the housing market go from here. Economists keep predicting that rates will be moving up soon—and they keep getting it wrong. I’m expecting rates to stay about where they are for the rest of the summer before slowly increasing toward the end of the year. The average 30-year rate will likely be above 4% next year, but it may take more than a year before we see 5%. Eventually higher rates will start to dampen demand as higher prices and higher rates conspire to prevent some potential buyers from being able to qualify.
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‘Close,’ by Nick Jonas, featuring Tove Lo
I can’t help but think about the tiny-house movement when I hear Nick Jonas and Tove Lo sing the line “Cause ‘space’ was just a word made up by someone who’s afraid to get close.” Think about the future, people. Someday you will appreciate having more space than you think you need today. Kid who returns home? A parent who moves in? You adopt a litter of Pomeranians? I say that “space” is a word made up by someone who can think about the future.
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‘Hello Friday,’ by Flo Rida, featuring Jason Derulo
Hello, Friday. We’ve been waiting for you a long time. If you’re looking to buy, you probably plan your weekend around open houses and house hunting. Flo Rida gave us the home-owning anthem of the year, “My House.” Listen to him in this new track and tell your local Realtor® to “show you something, baby.”
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‘Once in a While,’ by Timeflies
I’ve had a crazy June traveling around the country checking out local markets, speaking to local Realtors, and meeting with members of the media. To put my own spin on this upbeat number: “From New Orleans to Maryland and off to the West. Of course, Cali, plus Texas. Rhode Island, the Carolinas, and Miami…” My friends ask me these questions, like, “How do you do it? Press, and the road and the music?”
The truth is, I love all of this. I feel good! And this song is sure to make you feel good, too.
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‘Can’t Stop the Feeling,’ by Justin Timberlake
This song will likely end up the song of the summer of 2016. JT is 35 this year, which is the age of the oldest millennials, who are definitely active in the housing market and becoming the defining force for the next 15 to 20 years. The 35-to-44 age cohort is dominating views of listings on realtor.com this spring. Some are selling and buying, while others are buying their first home. They were some of the hardest hit by the recession, but now they are coming into their own and enjoying more prosperity. They feel upbeat and are taking advantage of low mortgage rates. Can’t stop this feeling that it’s a great time to buy!
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