Tag Archives: landlord

Single-Family Starts Save the Day

single-family-starts-and-permits

Housing starts rose 0.9% in August pushed by a solid 7% increase in single-family starts and tempered by an 11% fall in multifamily starts. The single-family increase was broad; all four census regions showed increases ranging from 17.5% in the West to 2.3% in the South. Monthly multifamily starts have saw-toothed up and down for several months with four up months and four down months in 2013.

Housing permits demonstrated the same signal with single-family permits up 3% nationally and up or unchanged in every region. August single-family permits at 627,000 are the highest since May 2008. Similar to starts, multifamily permits were down 15.7% to an annual level of 291,000. The three month moving average, a more stable measure of multifamily, has remained above 300,000 since the middle of last year.

The solid single-family report provides additional evidence of the slow but steady improvement in single-family owner-occupied construction that begin in earnest in early 2012. The seasonally-adjusted construction rate increased 36% since January 2012. Even with the steady rise, single-family starts remain at less than half a normal rate of 1.4 to 1.5 million per year. The broad increase across four regions in permits and starts is a solid signal that builders do see continued improvement. NAHB is forecasting a 17% increase in single-family construction in 2013 over 2012 and a more robust 31% increase in 2014.

Source:  Eye On Housing

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For homebuyers, bigger is better!

After a five-year hiatus, Americans are buying larger and more expensive homes again, but this time they’re not only being choosy about location, but about function and convenience as well.

Demand for luxury homes is soaring
The number of homes for sale priced at $10 million or higher has more than doubled in some places of the country, according to a study by Coldwell Banker. Predictably, those areas include wealthy enclaves in California such as Beverly Hills, where 19 such homes sold from November 2011 to October 2012. In Santa Barbara, 13 homes priced over $10 million sold during that time period. Other popular spots include Aspen, Colo., and Manhattan.

A separate study by home builder PulteGroup, shows that indeed, people are upsizing again. But aside from location, they are demanding functionality for their money. If they can’t get the access to public transportation, open space, proximity to jobs and recreation they desire, they are planning to add on to their current home.

The study says that 84 percent of homeowners between the ages of 18 and 59 have no plans to downsize their current living arrangements. During the housing boom, buyers sought extravagance, but now they are seeking more practical amenities such as energy efficiency and room to accommodate multiple generations.

Source:

Demand for luxury homes is soaring

Demand for luxury homes is soaring

Keep up with your wealth and mortgages, and follow me on Twitter @JudyMartel.

Read more: http://www.bankrate.com/financing/mortgages/for-homebuyers-bigger-is-better/#ixzz2HL6RISR3
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Fall Spruce Up Your Home Time!

It seems every year, pick a project that we can undertake to improve our home. But somehow this project always becomes an expensive ordeal. One year what started as a need to replace a window in our sun room turned into tearing down the walls and gutting the entire room.

Now that’s not to say I’m not satisfied with the end result (because I am), but I enjoyed seeing an articles that give us ideas for low cost ways to spruce up our home.

Ah, those coveted words that every home owner loves to hear when having to update their home: “low cost.”

Sometimes you get what you pay for but the ideas laid out in this article make good sense. A few of the simple things that you can do include adding an accent paint color to an existing room, using pillows to update old furniture or instead of gutting your kitchen adding a simple element to give it the feel of an upgrade.

A while back, Coldwell Banker gave 10 ideas to help whittle down the list. I think, I’ll forward it to my wife in the hopes that this may save me a couple hundred dollars this spring and a dozen fewer trips to the hardware store.

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Buying a Home? The COST Is More Important Than the PRICE…

We have often advised buyers to look at the COST of purchasing a house more than the PRICE of the home. Obviously, price is part of the cost equation. The other piece, assuming you are not an all cash buyer, is the mortgage rate. The mortgage rate to finance a purchase can have a dramatic impact on the overall cost. Recently, there are more people talking about the possibility that mortgage rates could begin to increase.

HSH.com studies trends in mortgage rates. They explain:

“A better economic climate almost always brings higher rates, and a lessening of the troubles in Europe from massive central bank assistance adds to the movement of money from safe havens to more risky assets, driving rates upward.”

Dan Green of The Daily Market Reports recently stated:

“The Fed sees growth coming faster than originally expected. There’s suddenly less chance that the Federal Reserve will intervene to help keep mortgage rates low. Absent Fed intervention, mortgage rates are apt to rise and Wall Street is now betting that the Fed has bowed out. With no stimulus, mortgage rates rise.”

Lawrence Yun, chief economist for the National Assoc of Realtors, recently wrote:

“Mortgage rates will be starting to rise. From the 3.9 to 4.0 percent average rate in the past five months on a 30-year fixed mortgage, the new rates will soon be in the range of 4.3 to 4.6 percent.”

Yun explains his logic here.

We do not attempt to predict future interest rates. We leave that up to the experts in the field. However, we want our readers to understand the potential impact on the cost of purchasing a home if they do rise. Here is a simple table that shows, even if the PRICE of a home softens, the COST of a home could increase.

Bottom Line

Many purchasers think they should wait until they are sure that prices have hit bottom. Deciding whether or not to wait should be determined by where the COST of a home is headed.

Source:  KCG Crew

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Mark your calendars for our Laviana of Lantana Open House!

The time has arrived for the “Laviana of Lantana Open House” today & Sunday from 2:00 – 4:00 pm..Food, prizes & More in the Lantana, Texas Community! Take a look at the image for details!

Source: Uploaded by user via Jim on Pinterest

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Benefits of the Zero Cash Down Plan

This is continued from our last blog discussing “Purchasing a House with Zero Dollars Down.”

1. No Deposit

If you are renting, why pay your landlord’s loan? Why not enjoy the advantage of building your own equity? Are you renting because you are held back from possessing your own house because you think you need a significant deposit?

Most people think you have to have a large down payment in order to buy a house. This is simply not the case. Because of this observation, many who would like to buy a house feel they have to save for years before they have enough money for a deposit so that they can enter the housing marketplace. Actually, they are putting money into someone else’s pockets, while waiting a lengthy time before they can start building their own investment. With the Zero Dollars Down Plan you will not need a deposit to buy a house.

2. Purchase a House Immediately

If getting a deposit is keeping you from buying your own house, this new plan offers you an instant way to get into a house. With the Zero Dollars Down Plan you will not need to wait to buy a house.

3. Official Bank Plan

It is imperative to know that the Zero Dollars Down Plan is an official bank plan.

Analysis this plan with your lender or real estate agent who has specific facts about financing and can help you with the Zero Dollars Down Plan.

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